Author's posts
Will diesel fuel costs drive US into recession?
While diesel fuel prices now average $5.80 a gallon nationwide and at least $5.29 in Oklahoma, some experts say the rising cost of the fuel used by truckers and farmers is what could eventually move the U.S. into an economic recession. It’s what some experts have told ABC News. “Diesel is, quite frankly, my …
Battery shortage results in billions lost by Tesla
Despite the push by the Biden administration to convert the U.S. automobile industry to EVs or electric vehicles, a push that included possible EV manufacturing in Oklahoma, EV leader Tesla is losing money—lots of it—billions. So says Tesla founder Elon Musk who blames it on a shortage of batteries along with China port issues …
Completion reports for June 22, 2022
CARTER COUNTY Citation Oil & Gas Corporation 24 1S 3W Tatums Field Unit 74-9, June 04, 2022 SH, INJ, TD: 2997 ft Lat: 34.44985, Long: -97.46706 API: 35019245830000
Permits to drill for June 22, 2022
Canadian County MARBLE 1307 #3SMH-34, September 24 2021 03 12N 7W NENENWNW API: 01725708 Lat: 35.550729430212336, Long: -97.93307681051633 CANVAS ENERGY LLC HH, AM, 14400 ft, MISSISSIPPIAN(9511), WOODFORD(9594) Canadian County EARLES RANCH #2H-7-18, June 22 2022 07 11N 9W SWSWSWNW API: 01725822 Lat: 35.44324538673647, Long: -98.20036433008451 CITIZEN ENERGY III LLC MU, DR, 21500 ft, MISSISSIPPIAN(13700), WOODFORD(13800) Coal County …
Two Energy Transfer pipeline projects finished
A pipeline carrying crude oil from the Cushing oil hub in Oklahoma to south Texas is one of two crude oil pipeline projects completed nationwide as of early June according to the U.S. Energy Information Administration. The Energy Transfer Cushing South Phase II is a 55,000 barrel a day expansion of the Cushing South …
I Make America campaign to feature Sen. Lankford
Tulsa’s McElroy Manufacturing along with the Association of Equipment Manufacturers plan an employee town hall on Monday featuring U.S. Sen. James Lankford. He will visit the manufacturing plant as part of the Association’s I Make America, a national grassroots campaign. As part of the campaign, the association works throughout the year to host elected officials …
OK energy stocks and crude prices react negatively to Fed chair’s inflation comments
Oklahoma energy stocks paid the price Wednesday as some firms suffered losses of 8, 9 and 10% following Federal Reserve Chair Jerome Powell’s comments about being committed to bring down inflation. Local energy stocks dropped along with crude oil prices and major U.S. stock indexes following his comments. West Texas Intermediate crude for August delivery …
Chesapeake Energy doubles share buyback to $2 billion
Chesapeake Energy announced Wednesday it is doubling its share repurchase program from $1 billion to $2 billion. The company said its Board of Directors reached the decision to offer up to $2 billion in aggregate value of its common stock and/or warrants through the end of 2023. To date, under its previously authorized program, …
Texas power grid broke record during lingering heatwave
A record set for electrical power use in the Texas power grid didn’t last long as it was broken this week during the extended heat wave that its scorching the Midwest and Southwest. Homes and businesses cranked up their AC’s resulting in a peak power demand on Monday reported Fox Business News. Click here …
Three Western states face delayed oil and gas lease sales
The Biden administration has again postponed oil and gas lease sales in New Mexico, Colorado and Wyoming. Fox Business News says the Bureau of Land Management delayed the sales until the end of the month. Click here for Fox Business News