Colorado’s freshman congresswoman Lauren Boebert has joined others in the U.S. House in introducing legislation to reverse the President’s ban on new oil and gas leasing on federal lands and water. She called her measure the Protecting American Energy Jobs Act, one that would not only stop Biden’s 60-day moratorium on new mining plans …
** The U.S. Army Corps of Engineers on Monday asked a federal judge to delay a hearing on a temporary shutdown of the Dakota Access oil pipeline, citing the changeover in personnel with the new administration. U.S. District Judge James Boasberg asked the Corps to outline its plans after an appeals court two weeks ago backed Boasberg’s …
Murphy Oil’s CEO and President Roger W. Jenkins is taking a 25% cut in pay as the company, now headquartered in Houston, announced several compensation decisions affecting the company’s executives. In making the announcement, the company, formerly headquartered in El Dorado, Arkansas said the changes were driven by changes in the company’s asset portfolio, …
Oklahoma Gov. Kevin Stitt has become the latest governor to challenge President Biden’s anti-fossil fuel executive orders showing that two can play the game of dueling executive orders. On Monday, Stitt signed his own executive order in which he declared under the 10th Amendment that Oklahoma has the right …
NGL Energy Operating closed on nearly $2 billion in notes in the past week, using the proceeds to repay all outstanding borrowings and to terminate its restated credit agreement from 2017. The closing also terminated the company’s $250 million term credit agreement dated 2019. The $2.05 billion in new senior notes were issued as …
In apparent response to growing optimism that the COVID-19 vaccine will increase travel and gasoline demand, gasoline prices continue to rise with a new national average of $2.46. Oklahoma’s average is $2.19, up three cents in the past week and 16 cents higher than a month ago. Oklahoma City’s average is $2.17, four cents …
Oklahoma City’s PHX Minerals Inc. reported a first quarter net loss of $0.6 million or 3 cents a share compared to $1.9 million net income or 11 cents a share a year earlier. But the company also made strides in reduction of its debt and increased production. The results were released Monday after the …
Crude oil prices hit their highest level in more than a year in Monday’s trading as Brent futures settled at more than $60 a barrel. Boosted by supply cuts, Brent crude for April delivery rose $1.22 to $60.56 a barrel in ICE Futures Europe. West Texas Intermediate crude for March delivery, considered to be …
Oklahoma Republican Congressman Frank Lucas is blunt with his assessment of President Biden’s campaign to “Build Back Better.” It threatens the country’s energy industry. The western Oklahoma U.S. Representative also says Biden has already broken his inauguration-speech promise to “work to be a President who seeks not to divide but unify.” Strong words from a …
** A U.S. District Court Judge puts ConocoPhillips’s mining and gravel construction at a National Petroleum Reserve-Alaska project on hold for two weeks reports the Anchorage Daily News. ** The Senate Environment and Public Works Committee will vote to advance Michael Regan’s nomination to be EPA administrator on Tuesday. ** The company building a disputed Russian-German underwater gas pipeline that’s been the …
