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PSO honored by EPA
Public Service Company of Oklahoma announced it has been selected as a 2022 ENERGY STAR Partner of the Year winner for Sustained Excellence. This award is reserved for ENERGY STAR partners demonstrating outstanding leadership, year over year, from the U.S. Environmental Protection Agency and the U.S. Department of Energy. “The 2022 ENERGY STAR award recognizes …
Gains made in drilling activity in the U.S.
Drilling activity in the Appalachian region of the U.S. is at its highest level since 2019 and two Oklahoma firms are among the most active operators. Chesapeake Energy has five rigs according to Enverus Rig Analytics which released its nationwide rig count this week. Ascent Resources Utica is one of five operators running with …
Wind farm operator ALLETE reports jump in earnings
Wind-farm operator ALLETE, Inc., the Minnesota-based company with major operations in Oklahoma reported first quarter 2022 earnings of $66.3 million or $1.24 per share, a gain from the nearly $52 million and 99 cents a share a year ago. ALLETE operates the 303 MW Caddo Wind farm in southwestern Oklahoma and the 303-MW Diamond Spring …
Big earnings for ConocoPhillips
ConocoPhillips joined other major oil and gas firms in reporting billions of dollars in profits in the first quarter of the year. The company had earnings of $5.8 billion or $4.39 a share, far better than the $1 billion and 75 cents a share earnings in the first quarter of 2021. Excluding special items, …
Biden moves to refill Strategic Petroleum Reserve
After ordering the release of 180 million barrels of oil from the nation’s Strategic Petroleum Reserve in a move to lower the cost of gasoline, President Biden now plans to purchase more oil to refill part of the Reserve. CNN reported Thursday the Biden administration will seek bids in the fall to buy 60 …
ONEOK subsidiary seeks federal funds to build pipeline in North Dakota
A subsidiary of ONEOK ended up being the only company to apply for millions in federal coronavirus aid in North Dakota for the construction of a natural gas pipeline before the deadline on Monday. Viking Gas Transmission requested $10 million to build a 12-mile pipeline that would link to its existing pipeline in western Minnesota …
Headlines of other energy stories
** In response to higher crude oil prices, financial results for 42 U.S. exploration and production companies showed large increases in both cash from operations and capital expenditures in the fourth quarter of 2021 (4Q21). Cash from operations for the E&P companies reached $27.5 billion in 4Q21, the largest amount in any quarter since 3Q14 reported …
Cushing crude storage increased in past week
While the amount of crude oil in storage in the U.S. increased in the past week, the Cushing hub in northern Oklahoma also reported a slight gain in crude. U.S. crude oil inventories increased by 1.3 million barrels from the previous week reported the U.S. Energy Information Administration. Inventories are about 15% below the …
Income soared for OGE Energy Corp. in 1Q
The same week the Oklahoma Supreme Court okayed nearly $1 billion in ratepayer-backed bonds to cover February 2021 storm costs for Oklahoma Gas and Electric Company, its parent company, OGE Energy Corp. reported significantly improved earnings in the first quarter of 2022. The company cited net income of $280 million or $1.39 a diluted …
Completion reports for May 4, 2022
CARTER COUNTY Citation Oil & Gas Corporation 4 4S 3W Dhsu C-1, January 25, 2022 null, INJ, TD: 1025 ft Lat: 34.23813, Long: -97.52698 API: 35019204940000 CUSTER COUNTY Arnold Oil Properties Llc Cottage Grove(9344): Oil 15 Water 12 Pump 36 13N 17W State 2-36, December 21, 2021 SH, OIL, TD: 13780 ft Lat: 35.56368, Long: -98.95350 API: 35039210480001 GRADY COUNTY Camino Natural …