By Mike W. Ray Southwest Ledger Oklahoma Natural Gas Co. has asked the state Corporation Commission to approve its fifth rate hike in five years: a request for a $41.5 million increase. Company officials contend that ONG’s earned return on equity for calendar year 2024 was lower than the 9.4% ROE authorized by …
Category: Oil & Gas
OGE wants higher electric rates—details coming in June
Details haven’t been released yet, but customers of Oklahoma Gas and Electric better brace for another rate hike request coming from the utility after recording an increase in 2024 net income to $470 million. A recent filing with the Oklahoma Corporation Commission made by OG&E attorneys stated the company “hereby gives notice to …
Energy briefs
** ENGIE North America announces a deal with an investment management company to build 31 battery energy storage facilities to strengthen grids in Texas and California. ** The White House proposes cutting the Low-Income Home Energy Assistance Program, which provided utility assistance to nearly 60,000 families in West Virginia in 2022. ** New Orleans-area officials …
White House and NY Governor at odds over gas line deal
The White House contends in exchange for the Trump administration lifting its freeze on a New York offshore wind farm, New York Gov. Kathy Hochul agreed to allow construction of two natural gas pipelines in her state. The governor’s office says not true and that the only way such pipelines will be approved …
Oklahoma’s Granite Wash active with oilfield exploration
Of the oil and gas plays across the U.S., one in Oklahoma saw the most dramatic gain in drilling activity, according to the latest Baker Hughes rig count. The Granite Wash was also one of 4 plays across the country that did not record a decline in the past week. Its count remained …
Rig counts tumble across U.S. and declined in Oklahoma
The lastest Baker Hughes rig count shows another slide in oil field and gas activity as the nation’s total fell by 10, leaving 566 rigs searching for oil and gas. The decline included a loss in Oklahoma’s fields. The count of oil rigs declined by 8 to 465 in the past week while …
Senators defend vote to give Americans right to buy the vehicle they want
U.S. Sen. James Lankford is still talking about the Senate vote he supported last week to overturn California’s electric vehicle standards. So is Sen. Markwayne Mullin who co-sponsored the move. In a weekend letter to constituents, Sen. Lankford raised the question—Why Are We Talking about California Electric Vehicle Standards? “Good question. In 2023, …
Crude oil prices recorded gains prior to Memorial Day weekend
Crude oil prices closed higher on Friday but remained constant over the long Memorial Day holiday in the U.S. The gains came as OPEC+ and its eight members plan to begin meeting on May 31 to consider an increase in oil production. The meeting is a day earlier than originally planned and the …
Energy briefs
** A research team based at Lawrence Berkeley National Laboratory says that solar could have the lowest levelized cost of energy (LCOE) of all energy sources in South Korea by the early to mid-2030s. ** In a groundbreaking move to bolster domestic critical mineral production, the U.S. Department of the Interior has greenlit the Velvet-Wood uranium …
What will come out of Texas legislative efforts to restrict renewable energy?
In the final weeks of the Texas legislature’s session, the fight remains underway against renewable energy including expansion of wind farms and solar farms. Others in the legislature have made attempts to protect the state’s historic legend as an oil and gas state. As The Hill reported, Texas has turned into what it described …