Mach Natural Resources recorded lower fourth quarter net income but still intends to press ahead in 2025 with $280 million in capital expenditures on well exploration and development. The Oklahoma City company reported financial and operating results for the three and twelve months ended December 31, 2024. In addition,Mach improved its available free cash …
** Chevron is advancing plans to tap into data center power demand, with the oil major recently entering the permitting and engineering phases for multiple U.S. sites to develop the centers and the electricity to supply them, a company executive told Reuters this week. ** The rapid development of AI data centers is intensifying concerns …
Not only did crude oil prices bounce back upward on Friday but so did Oklahoma energy stocks—some as much as 6%. Crude prices rose by 1% and stayed nearly unchanged for the week. Analysts explained investors considered the prospects of a fast end to the war in Ukraine which might result in more demand …
Williams announced that Micheal Dunn, executive vice president and chief operating officer, will retire, effective May 2, 2025. “During his tenure, Micheal transformed our organization from operating as distinct business units into one cohesive, best in class operating company. He has brought strong operational discipline and an unwavering commitment to safety across the entire …
After a 2% gain on Wednesday, crude oil prices dropped more than 1% on Thursday. Analysts attributed the fall to a number of things including the risk that tariff wars between the U.S. and China, Mexico and Canada might harm global crude demand. Plus there is the uncertainty over the U.S. proposal for a …
A new report from Tulsa’s Unit Corporation shows the company ended the fourth quarter with a dramatic drop in net income and experienced the same results for the full year. Unit stated in its report that net income for the three months ended Dec. 31, 2024 was $10.7 million or $1.07 per share compared …
The Oklahoma Corporation Commission’s decision to finalize a nearly $127 million rate hike by Oklahoma Gas and Electric drew the ire of the AARP. “This order will make final OG&E’s saddling residential customers with a historic $126.6 million rate increase and raise utility bills more than $9 a month, an amount many customers simply …
While Oklahoma legislators wrestle with wind farm setbacks and anti-eminent domain bills, in New Mexico, it’s a story of legislators attempting to create more restrictions on the state’s oil and gas industry. And at the same time, not kill the goose that laid the golden egg. Click here for Capital and Main
Construction has started on a rail-loading terminal in Utah’s Uinta Basin that could mean wax crude oil shipments for Oklahoma’s Cushing Hub and eventually on to Gulf Coast refineries. The transportation by rail has resulted in the Supreme Court considering challenges by Colorado to stop the shipments. A news release …
The Oklahoma Corporation Commission’s Petroleum Storage Tank Division has published a new tool to its web page to help environmental firms and the public locate both above and below ground tanks across the state. The OCC PST Data Finder is an interactive Geographic Information System (GIS) App that maps active, inactive and temporarily closed …
