Oklahoma Treasurer Todd Russ reports a less than 1% decline in gross revenue over the past 12 months including a more than 22% drop in gross production 2024 tax revenue compared to 2023. Receipts for the last 12 months through December total $16.87B, a decrease of $79.89M, or 0.5%, when comparing revenue from the previous year. However, …
Only one of the nation’s oil and gas plays saw a change in the number of its active rigs, according to the most recent rig report from Baker Hughes Co. The Cana Woodford, located in Oklahoma, added one rig to reach a total of 21. The remainder of the leading oil and gas plays …
** The Biden administration bans new offshore oil and gas drilling on more than 265 million acres of water, including along the entire West Coast and in the Northern Bering Sea in Alaska. ** Alaska economic officials expect the state’s oil and gas sector to gain 600 jobs this year but still remain far below 2014 employment levels. ** …
** Maryland-based Constellation Energy signs a $1 billion deal to provide nuclear power and energy efficiency services to 13 federal agencies, marking the first time the U.S. has used a major energy purchase to support nuclear power as a clean energy source. ** An energy company threatens to sue federal regulators for denying its proposal to expand an Amazon …
Crude oil prices rose about 1% in Friday’s trading as both benchmarks recorded gains for the day. Analysts credited colder weather, both here and in Europe for sending crude oil prices higher. The economic stimulus announced earlier in the week in China also had a continuing impact. West Texas Intermediate crude rose 83 cents …
U.S. drilling rig activity remained mostly unchanged in the past week with a count of 589 rigs, according to the most recent Rig Report from Baker Hughes Co. It also showed Oklahoma’s count of 43 rigs was unchanged from the Dec. 27 week to Jan. 3. The U.S. count included a loss of one …
ONEOK, Inc. announced that it has closed the sale of its three wholly owned interstate natural gas pipeline systems to DT Midstream, Inc., effective as of 11:59 p.m. Central on Dec. 31, 2024, for a total cash consideration of $1.2 billion, subject to customary adjustments. “The closing of this transaction represents another milestone …
A pledge by China’s President Xi Jinping to promote growth sent crude oil prices up by 2% or more than $1 a barrel on Thursday. Oklahoma energy stocks started the new year in positive territory. It was the first day for investors in 2025 and they reacted to the pledge with optimism. Reuters reported …
The nation’s crude oil stocks fell again in the most reporting period and the Cushing Hub in northern Oklahoma was part of it. The U.S. Energy Information Administration reported the nation’s crude stocks as of the week of Dec. 27, 2024 totaled 415.6 million barrels, a decline of 1.2 million barrels from the previous …
Oil production in Oklahoma increased from September to October of 2024, according to a monthly report from the U.S. Energy Information Administration, but the total was nearly 6% below a year ago. The EIA released its monthly report this week and it showed Oklahoma’s crude oil production for October 2024 was 393,000 barrels a …
