While the author of the controversial Senate bill 998 contends it will result in lower electrical rates in Oklahoma, the AARP has come out urging Gov. Kevin Stitt to veto it. The bill won approval Tuesday in the state House and was sent to the governor but the AARP immediately labeled it as …
Category: Oil & Gas
Oklahoma Houses passes bill to allow utilities to raise rates immediately on construction projects
The Oklahoma House on Tuesday ignored the opposition of the Oklahoma Corporation Commission and warnings that ratepayers will be “on the hook” for costs of utility construction projects while they are underway, and it approved SB998. The bill, with slight changes by author Rep. Trey Caldwell, R-Faxon was one that drew opposition from …
A strong first quarter reported by Devon Energy
Devon Energy’s first quarter earnings came in better than analyst expectations and it was a result of strong oil production and cost management by the Oklahoma City energy company. At the same time, Devon raised its full-year production forecast and lowered capital expenditure guidance. First quarter earnings for Oklahoma City’s Devon Energy actually …
Roller coaster crude oil prices gained nearly 3% on Tuesday
Wait a day and crude oil prices will bounce one way or the other and such was the case on Tuesday when prices rose about 3% because of indications for higher demand in Europe and China combined with lower production in the U.S. Also adding to the jump was the continued tensions in …
Utah’s increased oil production depends on US Supreme Court decision
While Supreme Court Justices are weighing a fight against a proposed oil train carrying crude from Utah’s Uinta Basin across Colorado and eventually to points such as Oklahoma’s Cushing Hub and refineries in Texas, Utah’s crude oil production reached records in 2024. A recent University of Utah report showed Utah produced 65 million …
Increased earnings reported by ONE Gas in 1Q
ONE Gas, Inc. announced first quarter financial results showing increased net income due in part to increased rate hikes compared to a year earlier and at the same time its subsidiaries are asking to rate increases in Kansas, Oklahoma and Texas. Income was $119.4 million or $1.98 per share compared with $99.3 million …
Energy briefs
** The Trump administration considers selling oil and gas leases in the Arctic Ocean more than 200 miles offshore, but experts say the industry may not be interested due to resource and legal uncertainty. ** North Dakota lawmakers advance a proposal that could offer up to $500 million in subsidies to support the development of …
Williams firing on all cylinders says CEO—higher earnings in 1Q
Higher earnings were reported by Williams in its first quarter driven by a $59 million increase in net income while adjusted EBITDA reached $1.9 billion. Net income totaled $690 million or 56 cents a share. Both were higher than a year earlier…net income gained 9% and share income rose 8%. Adjusted net income was …
Coterra Energy trims spending and oil directed operations after 1Q financial results
Coterra Energy Inc. released its first quarter 2025 financial and operating results this week and announced it was reducing its oil-directed activity, lowering its cap-ex range and also the number of active rigs in operation. “As our industry faces macroeconomic uncertainty and oil price headwinds, we believe it is prudent to reduce oil-directed …
AG Drummond calls Vermont Climate Act a “direct” attack on Oklahoma energy producers
Oklahoma Attorney General Gentner Drummond says he joined a 24-state coalition challenging Vermont’s Climate Superfund Act because he considered it a “direct attack on Oklahoma’s energy producers and the thousands of hardworking Oklahomans employed in this critical industry.” As reported earlier this week by OK Energy Today, West Virginia Attorney General J.B. McCuskey …