“The stench of these rotten deals is so pervasive, people on the outside are beginning to pinch their noses and look toward the Jim Thorpe Building with wrinkled brows wondering what the hell is going on at the Oklahoma Corporation Commission.” It’s what Corporation Commissioner Bob Anthony declared in a 180-page opinion filed in …
Category: Oil & Gas
Oklahoma and United Kingdom agree to more energy trade
Oklahoma Gov. Kevin Stitt traveled to the United Kingdom this week to sign a memorandum he hopes will result in increased energy trade for the state. He signed the memorandum with UK Minister for International Trade Nigel Huddleston and said it was meant to benefit both Oklahoma and the UK with each other’s innovations …
$6.6 billion in winter storm costs approved by Oklahoma regulators on a split vote
$6.6 billion. Get ready for the sticker shock coming in your future utility bills. It’s the cost that will have to be eventually borne by consumers in the fuel cost adjustments approved Thursday for 3 major utilities by Oklahoma Corporation Commissioners on a 2-1 vote. The Commission approved the requests for Oklahoma Natural …
Smart Sand earnings report to be released
After its revenues for 2022 grew by more than 100%, Texas-based Smart Sand, Inc. awaits financial results for the first quarter of 2023. With major operations in El Reno, Oklahoma, the company, based in Midland, Texas will release results on Tuesday, May 9 followed by a conference call on Wednesday, May 10 at 9 …
Nine Energy hopes to continue strong earnings
Following a 70% increase in revenues in 2022, Nine Energy Services, Inc. prepares to release its first quarter 2023 earnings report on May 9. The Houston-based company, with operations throughout Oklahoma’s SCOOP and STACK plays, will release the report prior to a 9 a.m. Central Time conference call. Nine Energy’s President and Chief Executive …
Crude stocks continue dropping at Cushing Hub
The amount of crude oil in storage at the Cushing Hub of northern Oklahoma fell again in the past week, reaching its lowest level of 2023. The U.S. Energy Information Administration reported that as of April 14, there were 32.8 million barrels held in storage at the hub. It was a drop of 1 …
New Mexico reports progress in plugging abandoned oil wells
New Mexico state officials report they have plugged more than 200 inactive oil and natural gas wells, most in the southeast where the state shares part of the Permian Basin. The State Land Office claims it also saved taxpayers $20 million in cleanup costs by having the oil and gas industry pick up …
Court rules against conservation groups fighting the ConocoPhillips Alaskan oil drilling plan
ConocoPhillips scored another win in its effort to explore for oil in the northern reaches of the Arctic. A federal appeals court ruled this week that the company can move ahead with its early stage construction this winter season at the controversial Willow oil project in Alaska. Conservation groups had gone to court …
Headlines of other energy stories
** New York City’s chief financial officer Brad Lander has announced plans to divest from fossil fuel stocks in the two largest city retirement funds. The funds have pension contributions and assets worth more than $170 billion. It may also lead to NYC pension bankruptcies. The highest performing stocks by industry in 2022 were oil and …
Another drop in crude oil prices and Oklahoma energy stocks
Crude oil prices dropped nearly 2% to a two-week low in Wednesday’s trading and the majority of Oklahoma energy stocks followed suit. The strengthening of the dollar caused the decline, despite a sharp drop in U.S. crude inventories. West Texas Intermediate crude for May delivery dropped 2.1% or $1.70 per barrel to settle at $79.16 …