Mammoth Energy in Oklahoma City has a new chief executive officer on board. Phil Lancaster took over his new role on Feb. 10 as the company’s Board of Directors approved a compensation for Lancaster in connection with his appointment as the Company’s Chief Executive Officer consisting of a base salary of $350,000 per year …
Category: Oil & Gas
Bice says protecting American energy and fracking is critical
Oklahoma U.S. Rep. Stephanie Bice is waging a campaign for congressional approval of a bill to protect American energy. It is also a bill to protect “fracking” and to prevent any future president from banning its use. “That is why the passage of H.R. 26, the Protecting American Energy Protection Act, was critical,” stated …
Energy briefs
** Iowa House lawmakers advance bills that would strengthen eminent domain protections, limit permit lengths and include more involvement of a consumer advocacy office in an effort to clamp down on carbon pipelines. ** The federal Bonneville Power Administration could lose up to 20% of its workforce to the Trump administration’s job cuts and hiring freeze, raising concerns about …
Former Corporation Commissioner says Rep. Caldwell’s electric transmission bill is “wrongheaded”
Rep. Trey Caldwell of Lawton doesn’t refer to the controversial issue of ROFR or Right of First Refusal in his HB2747, a bill dealing with competitive bidding by utilities. But former Oklahoma Corporation Commissioner Jim Roth says it’s a ROFR bill and he’s against it. “That’s not accelerating economic development. It’s not consistent with …
Crude oil and OK energy stocks finished down on Friday
Crude oil prices and most Oklahoma energy stocks finished down in Friday’s trading as analysts blamed the prospects for a peace deal between Russia and Ukraine for possibly easing global supply disruptions. The disruptions might end if US oil sanctions were ended against Moscow. West Texas Intermediate, the benchmark in the U.S. dropped 55 …
Legislator files another Supreme Court challenge of Todd Hiett’s votes
One of the three Republican legislators who took Corporation Commissioner Todd Hiett to court over the sexual abuse allegations against him, filed another appeal with the Supreme Court on Thursday, this one challenging the recently-approved PSO rate hike. The challenge by Rep. Tom Gann, Inola, came only days after the court dismissed the appeal he …
Sen. Lankford attacks Biden Administration in latest Federal Fumbles book
Elon Musk and Oklahoma U.S. Sen. James Lankford have something in common—-each is focused on eliminating government waste. Each is also highly critical of what the Biden administration’s green new energy plan did to the nation’s energy industry. Musk, of course, is in charge of DOGE, the Department of Government Efficiency while Sen. Lankford …
Mach’s public offering leads to expanded sales
Underwriters of a public offering of nearly 13 million shares in Mach Natural Resources LP apparently want more. The Oklahoma City energy company announced this week that the underwriters of its previously announced public offering of 12,903,226 common units representing limited partner interests in Mach have fully exercised their option to purchase an additional 1,935,483 …
Energy briefs
** EPA Administrator Lee Zeldin announced Wednesday that he’s found $20 billion in taxpayer money that the Biden administration “parked” at a financial institution — in an apparent effort to hide the dollars. “This scheme was the first of its kind in EPA history, and it was purposefully designed to obligate all of the money in …
Williams Cos. recorded 2024 earnings decline
Fourth quarter and 2024 earnings for Tulsa’s Williams Cos. came in lower, according to an earnings report released by the company. Williams had $2.2 billion in net income for all of its 2024 operations. While that sounds like impressive numbers, the income decreased by $1.051 billion compared to the previous year. The company explained …