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House Democrats target oil and gas industry
Democrats on the House Natural Resources Committee plan a crackdown on the oil and gas industry as part of President Biden’s efforts to reform the federal oil and gas leasing program. They put the industry in their bullseye. The Washington Examiner reports their blueprint includes raising costs on producers and imposing stricter regulatory requirements. …
Bankruptcy leads to 500 lost jobs at Basic Energy
The Chapter 11 bankruptcy by Fort Worth-based Basic Energy Services will lead to a loss of nearly 500 jobs in Texas. The figure was supplied in a filing with the state’s workforce commission as Basic Energy works through financial restructuring that includes asset sales reported Reuters. The job cut includes 120 in Tarrant County …
Oil and gas operators assess hurricane damage
Damage assessments are well underway by oil and gas pipeline operators along the Gulf Coast after Hurricane Ida hit major energy hubs as a Category 4 storm on Sunday. Reuters reported crews were mobilized by Enbridge as the firm also temporarily suspended contracts under force majeure on two offshore pipelines. Click here for Reuters.
Biden administration takes small step to resume land lease auctions
Seeking to comply with a federal judge’s ruling in a lawsuit filed by Oklahoma and nearly a dozen other states, the Biden administration on Tuesday unveiled more than 16,500 acres it plans to auction to oil and gas drillers. The ruling was from a Louisiana U.S. District Court judge where the lawsuit was filed …
Train power meets wind power
A trucker hauling a giant wind turbine blade escaped injury after his rig was caught at a railroad crossing and ended up being struck by a train in Luling, Texas. Click here for Auto Blog.
Court overturns Trump’s clean water rule
The scaled back clean water rule adapted by the Trump administration was reversed Monday by an Arizona federal judge. The decision by President Trump in 2020 was applauded at the time by Oklahoma congressman Frank Lucas who described it as a move cutting burdensome regulation for America’s farmers, ranchers and landowners. “From the …
Increased gasoline prices likely to hit Oklahoma
The American Automobile Association says gas prices in Oklahoma will likely increase temporarily this week as a result of Hurricane Ida. The storm has left more than one million people in Louisiana and Mississippi without power and likely taken about 13% of U.S. refining capacity offline. There were nine oil refineries in Ida’s path; at least …
ONEGAS leaders to hold investment meetings
Corporate leadership at ONE Gas will hold virtual meetings this week with the investment community. The presentations will be made Aug. 31 and Sept. 1 by Sid McAnnally, president and chief executive officer; Caron Lawhorn, senior vice president and chief financial officer; and Curtis Dinan, senior vice president and chief operating officer. It will …
Growing number of drilling permits approved in Oklahoma
The series of major oil wells produced in Oklahoma’s STACK play by Ovintiv Mid-Continent Inc. just isn’t stopping. The company filed a recent completion report for the Walta 1507 3h-rx at 9 15N 7W in Kingfisher County. Located just south of the city of Kingfisher and adjacent to highway US 81, the well had production of …
Crude oil recorded gains in Monday’s trading despite hurricane
While the Deep South struggles with recovery and Gulf Coast oil and gas operations wonder when they might resume, crude oil prices recorded gains in Monday’s trading. Oklahoma energy stocks couldn’t maintain last week’s gains. Global benchmark Brent rose 71 cents or 0.98% to finish the day at $73.41 a barrel on ICE Futures …