Category: Oil & Gas

Texas Supreme Court sides with state regulators over 2021 winter storm decision

    The Texas Supreme Court has ruled state regulators did not exceed their authority in setting historically high electricity utility rates during the 2021 Winter Storm Uri, a storm that not only killed more than 200 people in Texas but also saw the nation’s highest natural gas prices in Oklahoma. It was a 7-0 …

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Chesapeake Energy and Southwestern Energy shareholders approve merger

  Shareholders of both Chesapeake Energy of Oklahoma City and Southwestern Energy of Houston, Texas voted overwhelmingly Tuesday to approve the proposed more than $7 billion merger of the two companies. The merger was announced in January and went to a vote of shareholders of each company. The Federal Trade Commission still must sign off …

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More gains for crude oil prices but not so much for OK energy stocks

Tuesday was another day of gains for crude oil prices as they rose by more than 1%, thanks to growing tensions in Europe and the Middle East as the wars in Ukraine and Gaza remain a threat to global supply. West Texas Intermediate crude, the U.S. benchmark, rose $1.24 or 1.5% and settled at $81.57 …

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Oklahoma gas prices hit $3 but remain among lowest in US

  Oklahoma has some of the lowest gasoline prices in the U.S. despite signs of increases in the past few weeks. The state’s average this week, according to AAA, reached $3 a gallon, up 3 cents for last week. A month earlier, the statewide average was $3.11. Prices in Oklahoma City average $3.01, 9 cents …

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Corn growers, oil producers and truckers file suit against EPA’s tailpipe rule

  One of the latest lawsuits against the Biden administration over its controversial tailpipe emissions rule comes from an unlikely alliance of oil, corn industry lobby groups and truckers. They’ve filed suit against the Environmental Protection Agency’s rule to dramatically cut planet-warming tailpipe emissions from cars and trucks. The top lobby groups for oil and …

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Energy briefs

** The Senate is poised to send a major energy bill to President Biden’s desk this week, which could allow for more nuclear power to be built throughout the U.S. The legislation seeks to reduce fees for companies that are proposing to build nuclear reactors and establishes a prize that aims to incentivize nuclear deployment. ** Fisker …

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States sue to block latest anti-oil and gas effort by Biden administration

  The Biden administration was sued this week by the states of Texas, Louisiana and Mississippi in a move to stop the proposed rule requiring the offshore oil and gas industry to come up with nearly $7 billion to cover costs of removing old infrastructure. The lawsuit was filed against the U.S. Bureau of Ocean …

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New Mexico utility says renewable energy will help avoid brownouts

  While temperatures soared to 107 degrees in parts of New Mexico on Monday, the state’s major utility indicated it did not anticipate brownouts even after the firm closed its main coal-fired power plant near Farmington. Public Service Co. of New Mexico credits the ability to avoid brownouts after the shutdown of its San Juan …

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ONEOK pipeline subject of federal lawsuit by environmental groups

  ONEOK is facing a legal challenge over its pipeline project designed to carry large amounts of methane gas from West Texas to Mexico. Critics say it will be dangerous and government approval came after flawed analyses. The Sierra Club and Public Citizen announced they filed suit against the Federal Energy Regulatory Commission for its …

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Critics claim record oil and gas production in Texas only adds to growing heat waves

  Texas is pumping out so much oil and gas, it has reached record levels. It produced a record 5.7 million barrels a day of crude oil in May and also sold a record 32 billion cubic feet of gas. But, critics contend the oil and gas is adding to the country’s hottest summer on …

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