** U.S. oil producer Apache Corp on Friday said it was suspending drilling in the North Sea and reducing its British workforce because high taxes have made the operation less competitive. The unit of APA Corp did not say how many workers would be cut as a result of the move. ** The White House on Friday …
Category: Oil & Gas
Halliburton wins major carbon capture contract in United Kingdom
Just how much money will be involved wasn’t revealed, but Halliburton Company announced this week it was awarded a major carbon capture contract in the United Kingdom. Under the deal for the HyNet North West Project in the Liverpool Bay, Halliburton will provide completions, liners, and monitoring products and services for the carbon capture …
Carbon capture bill signed into law by Governor Stitt
Oklahoma Governor Kevin Stitt this week signed legislation to pave the way for Oklahoma’s participation in a proposed hydrogen hub with Arkansas and Louisiana and for development of hydrogen projects in the state. He signed SB 200, starting the process to gain program delegation from the EPA for Underground Injection Control (UIC) Class VI carbon …
Retired General says US national security can be improved with a stronger energy policy including oil and gas
The best way to beef up the country’s national security, according to retired U.S. Army Gen. Wesley Clark, is more cooperation from the Biden administration and the domestic oil and gas industry. It’s what he told a recent Hart Energy SUPER DUG conference held in Fort Worth, explaining China and Russia each are a …
Friday was a weak day for crude oil and Oklahoma energy stocks
Not only did oil prices fall by more than a dollar a barrel on Friday, but Oklahoma energy stocks tumbled as well, some as much as 4%. Crude made its second straight weekly decline after Saudi Arabia’s decision last weekend to cut output and disappointing Chinese data added to doubts about demand growth. West Texas …
Mammoth Energy holds annual stockholders meeting
The annual meeting of stockholders in Mammoth Energy Services, Inc. was held this week in Oklahoma City. Shareholders approved the election of Arthur Amron, Corey Booker, Paul Jacobi, James Palm, Arthur Smith and Arty Straehla to serve as the company’s directors. The company stockholders also voted in support of the compensation paid to Mammoth’s …
Chesapeake’s annual shareholders meeting results
Shareholders in Chesapeake Energy took part in the company’s annual meeting this week, electing directors and executive compensation. The directors include Domenic J. Dell’Osso, Jr., Timothy S. Duncan, Benjamin C. Duster, IV, Sarah A. Emerson, Matthew Gallagher, Brian Steck and Michael Wichterich. Shareholders approved an advisory vote on the named executive officer compensation and plan …
Rig counts in Oklahoma and US leveled off in past week
The nation’s rig count is closer to leveling off in the past week with a decline of only one to 695 oil and gas rigs while Oklahoma added one to reach 44 rigs. Baker Hughes on Friday reported Oklahoma’s count compared to 59 a year ago. The U.S. count included an addition of one …
Law takes effect–natural gas is exempt from price gouging state law
Without any fanfare, Oklahoma Gov. Kevin Stitt signed a bill to exempt natural gas from the state’s anti-price gouging restrictions. House Bill 2561 was signed into law last month after it won large approval in the House and Senate. The House approved it on a vote of 81-12 in early March while the Senate …
Energy quick reads
** A shroud of smoke has sent solar power generation in parts of the eastern US plummeting by more than 50% as wildfires rage in Canada. Solar farms powering New England were producing 56% less energy at times of peak demand compared with the week before, according to the region’s grid operator. Electricity generated by …