Data source: Enverus Note: Well vintage is the year a well first begins producing crude oil or natural gas EIA report: new wells offset steep decline rates As U.S. crude oil and natural gas production have increased, so has the volume of production declines from existing wells.Additionally, steep decline curves continue to reshape capital allocation across unconventional basins. …
Category: Oil & Gas
Devon’s 3Q—“best results of the year” according to CEO
Devon confident in 2026 outlook strength Clay Gaspar, President and CEO at Oklahoma City’s Devon Energy continued that the company’s outlook for 2026 “is even stronger than our current trajectory.”However, he said Devon plans to continue its production levels while further lowering capital requirements and building on momentum established this year.Additionally, management wants to extend operational …
Williams leaders confident of need for natural gas
Williams signals robust natural gas demand ahead With his company recording a 13% third quarter gain in adjusted earnings, Williams Cos. CEO and President Chad Zamarin could feel confident this week in telling a conference call there is a “very robust need” for natural gas across the entire footprint the company operates. Additionally, Oklahoma Energy …
Energy Brief: Amazon, China COP30, Russia refinery
Amazon power supply complaint ** Amazon files a complaint with Oregon regulators accusing PacifiCorp of failing to meet obligations to provide the tech giant’s data centers with sufficient power.Additionally, this signals growing strain between hyperscale load and regulated utility delivery as rapid data center buildout accelerates U.S. electricity demand. Georgia utility election backlash ** Georgia …
OGE’s CWIP request delayed by regulators
The CWIP or Construction Work in Progress request of Oklahoma Gas and Electric isn’t going anywhere with the Oklahoma Corporation Commission—-at least for the next week. Regulators considered a vote on the controversial move that would have put construction project costs on the backs of ratepayers for the next several years while the …
Gulfport to expand Marcellus investments
Oklahoma City’s Gulfport Energy is going full-steam ahead in its natural gas exploration of the Marcellus shale play, as indicated in the firm’s third quarter financial results. The company cited $111.4 million of net income and $213.1 million of adjusted EBITDA during the quarter. It also generated $209.1 million in net cash from operating …
Crude oil prices dropped on larger US crude inventories
Oil Prices fall on inventory surge Crude Oil Prices dropped more than 1% in trading on Wednesday and in part, because of a buildup of U.S. crude oil inventories. However, traders viewed that inventory spike as material supply pressure and not noise. Oklahoma Energy analysts warn that rising U.S. storage elevates short-term glut risk conditions …
Private meeting reported by Oklahoma regulators
Oklahoma Corporation Commissioners recently ended their several week long stretch of not holding closed-door meetings as allowed by a nearly year-old law. In a filing made this week, (October 4) the Commission revealed the meeting was held on Wednesday, October 29. All three commissioners, Kim David, Todd Hiett and Brian Bingman were in attendance …
Lower electric bills this month for PSO customers
Public Service Company accounting process lowers bills An accounting process used by Public Service Company of Oklahoma means the utility company’s customers will see a monthly lowering of their electric bills in November. However, this specific cost movement is tied to fuel commodity adjustments, not short-term promotional incentives. Also, Oklahoma Energy analysts track these accounting …
Ovintiv exits Oklahoma through NuVista acquisition shift
Ovintiv ends Oklahoma exploration Houston’s Ovintiv Inc. is ending its oil and gas exploration in Oklahoma. Additionally, this marks a significant exit from the Anadarko Basin region for a once highly active operator. Therefore, Oklahoma Energy stakeholders will feel the immediate strategic shift as capital migrates north into Canada. The company announced it reached an …