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Ascent Resources Finalizes Utica Acreage Purchase From XTO Energy
Oklahoma City-based Ascent Resources, LLC announced Friday that it has closed on the previously announced bolt-on acquisition with XTO Energy, a subsidiary of ExxonMobil Corporation, in the Utica Shale in Ohio for a total purchase price of $270 million, subject to customary closing purchase price adjustments. Ascent financed the transaction with a combination of cash on hand and …
Heat.gov Launched for Communities Facing Extreme Heat
As Americans deal with record-breaking temperatures and extreme heat this summer, the Biden Administration recently launched Heat.gov, a national integrated heat health information system with tools for communities facing extreme heat. Heat.gov will provide a one-stop hub on heat and health for the nation. It’s a priority of President Biden’s National Climate Task Force and its Interagency Working …
Oklahoma Energy Index Shows Strength Despite Concern Over Possible Recession
The latest monthly release of the Oklahoma Energy Index (OEI) reflects optimism in Oklahoma’s economy and the state’s oil and gas industry. Petroleum Alliance of Oklahoma President Brook A. Simmons points to geopolitical events and drilling activity as two positive factors. Public officials are compelled to recalibrate the role that stable, affordable energy supplies play …
Senate Votes to Overturn Biden Administration Environmental Rule
The U.S. Senate voted to overturn a Biden Administration rule requiring rigorous environmental review of major infrastructure projects such as highways, pipelines and oil wells, according to a published report by the Associated Press. The measure was approved on Thursday by a vote of 50-47 as Democratic Sen. Joe Manchin of West Virginia sided with …
Energy Transfer to Acquire Woodford Express, LLC in $485 Million Deal
Dallas-based Energy Transfer signed an agreement to acquire Woodford Express, LLC, a Mid-Continent gas gathering and processing system for approximately $485 million. The acquisition was revealed by the company’s Co-Chief Executive Officer, Tom Long, during Energy Transfer’s Q2 2022 earnings conference call on Wednesday. “This bolt-on opportunity will provide a roughly 450 million cubic foot …
US EIA Issues Permian Basin Natural Gas Pipeline Project Update
The U.S. Energy Information Administration issued its latest Natural Gas Pipeline Project Tracker on Thursday to include five new projects—four newly announced projects and one project under construction—since its last update in April 2022. Of the four new projects, three will expand capacity for existing pipelines and one will be a new pipeline. If completed …
Devon Announces STEM Program With OSU and OU
Oklahoma City-based Devon Energy is collaborating with Oklahoma State University and the University of Oklahoma through the creation of a learning platform that combines science, technology, engineering and math (STEM) with sports. SportsLabs is a five-year pre-game project that will be held at fan fests during football, basketball and other select sporting events on each …
Heat Advisory Issued Through Weekend
A moderate heat advisory remains in effect for several Oklahoma communities until 8:00 p.m. CST on Friday, August 5, 2022. This hazardous weather outlook is for portions of northern, western, central and southern Oklahoma. The hot weather pattern will persist through at least Saturday with heat index values near or above 100 degrees in many …
Oklahoman Arrested for Alleged Copper Theft at Grant County Oil and Gas Well Site
A phone call from an observant Grant County citizen resulted in the arrest of an alleged copper thief who is under investigation by several law enforcement agencies. Nathan Schuermann of Medford was arrested by deputies on August 3 after being found on an oil and gas well site in Grant County. Schuermann was also found …
OCC Hears Testimony From Utility Advisors to Support Additional Funding
Oklahoma Corporation Commissioner Bob Anthony voiced his concern as expert witnesses testified during Thursday morning’s meeting at the Oklahoma Corporation Commission. Four utility companies are seeking Commission approval for additional funding to recoup losses from the winter storms of February 2021. OG&E projected a need for an additional $2.12 per month from each customer but …
