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Bill to ban fracking advances in New Mexico legislature
It faces a long road if it were ever to become law, but a bill is advancing in the New Mexico legislature to ban the issuance of new fracking permits. This in a state with some of the highest oil production in the U.S. Senate Bill 149 won narrow approval over the weekend in …
Meme stock frenzy hits Ring Energy
The frenzy of “meme” stocks has hit a small Texas oil and gas company just like it did earlier this year with GameStop. Ring Energy Inc. has seen an explosion in the trading of its stocks after it was the target of social media speculation. It’s a small company headquartered in The Woodlands, Texas …
Energy news in brief
** A catastrophic explosion and fire at an Afghan customs depot has destroyed hundreds of fuel tankers and caused traders tens of millions of pounds of losses. A series of blasts hurled trucks hundreds of yards into the air and deposited the crumpled remains of fuel tanks as far as half a mile from the blast …
Devon and Continental Resources to post 4Q reports on Tuesday
Two major oil and gas companies in Oklahoma City will reveal their quarterly earnings reports this week. Devon Energy and Continental Resources will release their financial details Tuesday and leaders of the two companies will hold conference calls on Wednesday. Both are coming off third quarter losses and the two firms will release their …
Oklahoma majors to unveil their earnings and losses
A busy week likes ahead for executives of more major oil and gas companies as they prepare to release their fourth quarter earnings report. Reports will be released Wednesday and Thursday by ONE Gas, Ovintiv, Inc., Laredo Petroleum and Marathon Oil. They are considered to be major players in Oklahoma’s oil and gas operations. …
Texas wind farms couldn’t produce in freezing weather
The Arctic weather that settled in over the Midwest hit Texas so hard it resulted in mandated blackouts ordered by the state’s power grid regulators. The state’s massive wind farm operations were especially hard hit by the freezing weather. Millions of households lost electrical power as the unprecedented Arctic freeze also brought chaos in …
Natural gas use in extreme cold leads to possible shortage in Oklahoma
Extreme cold and snowy weather left Oklahoma utility companies pleading for help from consumers and regulators as they are facing a potential shortage of natural gas for home heating purposes. State regulators might hold an emergency meeting on Monday, a federal holiday to help respond with possible increased allowable production of natural gas. As …
New Mexico Senators plea for help from Biden administration
The two Democratic U.S. Senators in New Mexico recently had a chance to ‘bend the ear’ of National Climate Advisor Gina McCarthy about the impact of President Biden’s anti-fossil fuel steps. They specifically asked whether the Biden administration can offer aid to New Mexico, the hardest hit state by the pause on few federal …
Record natural gas prices in Oklahoma amidst cold spell
The bitter cold weather in Oklahoma brought a record price for natural gas. Bloomberg reported natural gas traded at $600 per million British thermal units in the state over the weekend as the state and the Midwest were in a deep freeze. The temperature plunge resulted in other hubs reporting high prices including $350 …