** Exxon Mobil Corp. said the prospect of the world reaching net zero carbon dioxide emissions by 2050 is “highly unlikely” due to the drop in living standards that would come with such a scenario. The Texas oil giant made the comments in a regulatory filing that argued against proxy adviser Glass Lewis’ view that …
Category: Oil & Gas
Nation’s oil and gas rig count continues to fall
The nation’s count of oil and gas rigs took another major drop in the past week, falling 11 to a new U.S. level of 720 rigs reported Baker Hughes Co. The nation’s rig count has fallen 35 since May 6. Baker Hughes reported a decline of 17 rigs last week and 7 on May …
Annual meeting held by OGE Energy Corp and shareholders
OGE Energy Corp. held its annual meeting on May 18 electing its board of directors and acting on other measures. In voting announced at the meeting, OGE Energy shareholders: Elected 10 members of the company’s board of directors to one-year terms. They are: Judy R. McReynolds, lead director, chairman, president and chief executive officer of ArcBest Corporation. …
More government land in New Mexico available for oil and gas operators
The Bureau of Land Management is putting up more government land available to be leased for oil and gas exploration in the southeast part of New Mexico—prime land that is part of the Permian Basin. The agency is seeking public comment on its November lease sale that includes 434 acres in Eddy and Lea …
Historic Keystone pipeline spill exposed years of lax oversight
A new report suggests the Keystone oil pipeline that ruptured last December in northern Kansas and spewed 12,000 barrels of heavy crude into a creek, had actually be years in the making. Bloomberg reported that U.S. regulators warned more than a decade ago that the type of weld on the pipeline would trigger the …
Icahn admits he didn’t take his own advice–blames billions in losses on Biden’s infusion of trillions into ecconomy
Billionaire Carl Icahn, the man who owns much of Oklahoma City-based SandRidge Energy, the CVR Refinery in southern Oklahoma and other companies across the U.S. now admits he was wrong to have bet against the nation’s economy and it cost him $9 billion over the past six years. “I’ve always told people there is …
Oil down but Oklahoma energy stocks are up
Oil prices took a 1% skid on Thursday while Oklahoma energy stocks had a strong day in trading with one oil company recording a more than 12% gain for the day. What spurred the fall in crude oil? It came after solid U.S. economic data spurred the dollar to reach a two-month high. West Texas …
Oil and gas group comes out in support of State Treasurer’s anti-ESG enforcement
The Oklahoma Energy Producers Alliance (OEPA) has joined with State Treasurer Todd Russ as he takes steps to withhold state funds from WOKE institutions that discriminate against making Oil and Gas and Agriculture loans. “This is a courageous action by our State Treasurer and a win for Oklahoma producers,” OEPA Chairman and Owner of Kingery …
Oklahoma Turnpike Authority loses bond adviser after being blacklisted by Treasurer
After being blacklisted from state agency business because of its ESG beliefs, Wells Fargo is no longer the bond adviser for the Oklahoma Turnpike Authority. The company was among those cited by Oklahoma Treasurer Todd Russ as violating Oklahoma’s new law which targeted financial institutions for their bias against the state’s oil and gas …
EIA reports Oklahoma saw increased oil production in past year
No surprise in what the U.S. Energy Information Administration reported this week showing Texas and New Mexico were the leading oil-production states in the country. U.S. crude oil production grew 5.6%, or 0.6 million barrels per day (b/d), in 2022 compared with 2021, averaging 11.9 million b/d according to the EIA’s Monthly Crude Oil …