Awaiting Federal Trade Commission review of its proposed more than $7 billion merger with Southwestern Energy, Oklahoma City’s Chesapeake Energy is moving ahead with its annual shareholders meeting. However, shareholders at their Thursday, June 6, 10 a.m. central time virtual meeting will not be asked to vote on the proposed merger which is an …
Second quarter earnings came in below expectations at Tulsa’s Helmerich & Payne and company leadership blames a weak natural gas market. The company reported second quarter net income of $85 million or 84 cents a share from operating revenues of $688 million. It was below the $95 million and 94 cents a share from …
** Exxon Mobil Corp on Friday missed analysts’ estimates with a 28% year-on-year drop in first quarter profits as weaker refining margins and lower natural gas prices offset volume gains. The largest U.S. oil company, which is in the process of closing a $60 billion deal for top shale oil producer Pioneer Natural Resources, posted first-quarter earnings …
Texas oil billionaire Rod Lewis and a company he started, LNG Energy Group have announced a deal to rehabilitate five aging oil fields in Venezuela. The agreement came just days after the Biden administration reimpose sanctions that had been in place against the country. The Associated Press reported LNG was awarded contracts by state-run …
As crude oil prices gained about 1% in Thursday’s trading, Oklahoma energy stocks were mixed while a few had losses ranging from 5% to 7%. Crude rose after Israel stepped up airstrikes on Gaza’s Rafah and caused concern the fighting might interfere in the movement of crude out of that part of the world. West …
AARP Oklahoma made it clear this week, it will not stop fighting the rate hikes of utilities in the state. OG&E and PSO can expect a battle before the Oklahoma Corporation Commission. Oklahoma State Director Sean Voskuhl told members during a Thursday Facebook presentation, it’s like a “whack-a-mole” fight. “We’ve been fighting unfair utility …
Oklahoma Gov. Kevin Stitt was among 25 Republican Governors who wrote the White House this week asking the President to remove his freeze on permits for LNG export projects. “As governors, we are very concerned by the Biden Administration’s move to pause approvals of new liquified natural gas (LNG) export projects, especially after Iran’s …
** The Biden administration on Thursday finalized a highly anticipated suite of rules to cut hazardous, planet-warming pollution generated by power plants in one of its most significant environment and climate actions to-date. The Environmental Protection Agency’s new rules will compel coal and new natural gas power plants to either cut or capture 90% of their climate pollution by 2032. ** The …
With no major outbreak in fighting in the Middle East, investors seem less concerned about any impact on the flow of oil out of the region. As a result, prices fell in Wednesday’s trading. At the same time, crude inventories across the U.S. tumbled and it stopped a further fall in oil prices. West Texas …
Crude oil inventories across the U.S. and including at the Cushing Hub in Oklahoma fell over the past week. The U.S. stocks, according to to the U.S. Energy Information Administration fell more than 6 million barrels. The fall was from 460 million barrels reported on April 12 to 453.6 million barrels on April 19, …
