The extremely cold weather that hit the Midwest resulting in minus-zero degree readings throughout several states down into Texas also caused a shutdown of the largest oil refinery in the U.S. Motiva Enterprises LLC stopped operations of its refinery at Port Arthur, Texas because of disruptions of fuel supplies, power and water across the …
Arctic-like temperatures not only left wind turbines frozen in West Texas, but it resulted in a one million barrel-a-day reduction in oil production in the Permian Basin. It also sent oil prices up. Temperatures plunged to minus-one degree in Midland where the reading was the lowest since 1899. As a result, oil production plunged …
It faces a long road if it were ever to become law, but a bill is advancing in the New Mexico legislature to ban the issuance of new fracking permits. This in a state with some of the highest oil production in the U.S. Senate Bill 149 won narrow approval over the weekend in …
The frenzy of “meme” stocks has hit a small Texas oil and gas company just like it did earlier this year with GameStop. Ring Energy Inc. has seen an explosion in the trading of its stocks after it was the target of social media speculation. It’s a small company headquartered in The Woodlands, Texas …
** A catastrophic explosion and fire at an Afghan customs depot has destroyed hundreds of fuel tankers and caused traders tens of millions of pounds of losses. A series of blasts hurled trucks hundreds of yards into the air and deposited the crumpled remains of fuel tanks as far as half a mile from the blast …
North Dakota’s oil production made a slight dip again with 1.192 million barrels of oil produced in December 2020. In November 2020 the state produced 1.227 million barrels of oil. Click here for the story from the Minot Daily News.
Two major oil and gas companies in Oklahoma City will reveal their quarterly earnings reports this week. Devon Energy and Continental Resources will release their financial details Tuesday and leaders of the two companies will hold conference calls on Wednesday. Both are coming off third quarter losses and the two firms will release their …
Extreme cold and snowy weather left Oklahoma utility companies pleading for help from consumers and regulators as they are facing a potential shortage of natural gas for home heating purposes. State regulators might hold an emergency meeting on Monday, a federal holiday to help respond with possible increased allowable production of natural gas. As …
The two Democratic U.S. Senators in New Mexico recently had a chance to ‘bend the ear’ of National Climate Advisor Gina McCarthy about the impact of President Biden’s anti-fossil fuel steps. They specifically asked whether the Biden administration can offer aid to New Mexico, the hardest hit state by the pause on few federal …
The bitter cold weather in Oklahoma brought a record price for natural gas. Bloomberg reported natural gas traded at $600 per million British thermal units in the state over the weekend as the state and the Midwest were in a deep freeze. The temperature plunge resulted in other hubs reporting high prices including $350 …
