The Cushing hub in northern Oklahoma saw a slight increase in the amount of crude oil in storage in the past week as it reached a total of 33.6 million barrels. The total compared to the 33.1 million barrels reported as of April 21 of this year according to the U.S. Energy Information Administration …
Oklahoma Congressman Josh Brecheen is targeting the Biden administration over new rules requiring big trucks to have speed limiting devices. The U.S. Representative introduced the Deregulating Restrictions on Interstate Vehicles and Eighteen-Wheelers (DRIVE) Act, which would prohibit the Federal Motor Carrier Safety Administration (FMCSA) from implementing any rule or regulation requiring vehicles over 26,000 …
Leadership at Chesapeake Energy hinted strongly this week it might hold off on bringing more wells online if low natural gas prices continue to be a challenge. Executives informed those on a conference call that they anticipate still more volatility in the natural gas markets. Chesapeake said it had opted to conduct some maintenance …
** Firms that haul freight across the San Diego-Tijuana border say they are not prepared for California’s plan to phase out diesel trucks because Mexico lacks zero-emission vehicles and charging infrastructure. ** Under pressure from environmentalists, New York lawmakers on Tuesday made their state the first in the nation to ban the use of natural gas …
A new policy by the Biden administration’s Energy Department will reportedly put 10 long-delayed U.S LNG export terminal projects at risk. The Energy Department recently announced it would crack down on requests by companies to push back start dates for liquefied natural gas export terminals. As a result, four of the projects in Texas, …
Crude oil prices took another major slump in Wednesday’s trading and Oklahoma energy stocks followed suit after the Federal Reserve raised its key interest rate by a quarter-point to the highest level in 16 years. West Texas Intermediate crude for June delivery dropped $3.06 and fell below $70 to $68.60 a barrel on the …
A weaker commodity price environment might have existed in the first quarter of 2023, but Oklahoma City’s Gulfport Energy Corporation still had a strong showing with $523.1 million in net income and $229.7 million of adjusted EBITDA. In the release of its first quarter financial results, the company managed to generate $304.1 million of …
Public Service Company of Oklahoma (announced more than $35,000 in robotics grants to 16 school groups throughout the state. The grants range from $250 to $3,200. The FIRST (For Inspiration and Recognition of Science and Technology) robotics grants program is a nationwide initiative that supports pre-kindergarten through grade 12 student education with an emphasis …
ONEOK Inc. reported first quarter 2023 financial results which included more than $1 billion in net income, part of which resulted from a $930 million settlement reached last year over a disastrous fire at its Medford gas plant. Total net income was $1.05 billion resulting in a $2.34 per diluted share. Adjusted EBITDA was …
Another strong quarter was reported by Chesapeake Energy as it had $1.3 billion or $9.60 per diluted share in net income. The Oklahoma City’s adjusted net income was $270 million or $1.87 per share during the first quarter of the year, according to the company announcement. It also said it delivered …
