Author's posts
A 2% fall for crude oil prices while OK energy stocks had a mixed day on Tuesday
Growing concerns about a global economic slowdown led to a nearly 2% drop in crude oil prices Tuesday, both in the U.S. and overseas. As a result, Oklahoma energy stocks were mixed with some losing up to 8% while others gained 7%. The expected build in U.S. oil inventories, something noted last week in …
Increased dividend announced by ONE Gas
The board of directors of ONE Gas, Inc. increased the dividend for the first quarter 2023 by 3 cents per share to 65 cents per share, resulting in an annualized dividend of $2.60 per share. The dividend is payable March 10, 2023, to shareholders of record at the close of business Feb. 24, …
Feds reject Oklahoma turnpike plan through Lake Thunderbird
Call it what you want, a speed bump, a detour or a roadblock, but engineers at the Oklahoma Turnpike Authority were told by the federal government they cannot build a new turnpike through Lake Thunderbird near Norman. The U.S. Bureau of Reclamation rejected the state’s plans to build bridges over part of the lake …
Mullin’s first Senate bill targets federal control of energy on federal lands
U.S. Senator Markwayne Mullin (R-OK) unveiled his first legislative package as a new member of the senate, introducing three bills to restore American energy independence. His measures not only target leasing of oil and gas operations on federal lands but puts the power in the hands of states to regulate fracking on federal land. The …
Lawsuit challenges oil and gas lease sales in New Mexico’s Permian Basin
A lawsuit was filed this week by conservation groups challenging the Biden administration’s approval of nearly 6,000 acres of oil and gas leases in New Mexico’s share of the Permian Basin. The Interior Department approved the sales in May of 2021. Conservation group members from Carlsbad contend the department refused to reveal the costs …
Senator’s bill would develop bigger EV charging network in Oklahoma
A group encouraging development of an electric vehicle charging market in Oklahoma says legislation filed by a state senator is a big step toward removing existing market barriers to providing EV charging. The bill was filed by Sen. Chuck Hall of Perry while in the House, it will be carried by Rep. Kyle Hilbert …
Is bankruptcy close at hand for nation’s largest owner of oil and gas wells?
A report suggests the largest owner of oil and gas wells in the U.S. is close to bankruptcy and if that happens, there is the possibility that up to 70,000 oil and gas wells in Appalachia could be abandoned. Environmental Health News issued the report this week about Diversified Energy Company headquartered in Birmingham, …
Headlines of other energy stories
** The Energy Information Administration at the U.S. Department of Energy believes the price of petroleum products (crude oil, gasoline and diesel) will decline 5% to 10% this year from its previous predictions. EIA’s forecast crude oil will average $77 per barrel in 2023, which is $11 less than its previous prediction of $86. ** U.S. natural gas futures …
Record $25 billion in taxes and royalties from Texas oil and gas industry
All of the increased drilling in the Permian Basin of West Texas helped produced nearly $25 billion in taxes and royalties in 2022. The Texas Oil and Gas Association unveiled the figures this week showing a record $24.7 billion, far more than than the $16 billion reported in 2019 reported Bloomberg. Click here for …
Blackrock Inc. remains a major investor in two Oklahoma energy firms
Investment firm Blackrock Inc. certainly has been criticized for its anti oil and gas stance in the past few years and targeted with laws like Oklahoma’s Energy Discrimination Elimination Act, but it remains a large investor in ONEOK and ONEGAS. A filing made this week with the Securities and Exchange Commission revealed Blackrock, considered …
