Another sign of falling crude oil and gas production in Oklahoma was reflected in the latest Economic Report from Oklahoma State Treasurer Todd Russ. His report indicated gross production tax revenues dropped 9% from October to November. The 9% decrease totaled $6.6 million and the total GPT revenues was $66.7 million. Revenue from the gross …
Category: Oil & Gas
Ascent uses ‘reverse Dutch auction’ to buy back $25 million in shares
Oklahoma City-based Ascent Resources LLC is offering to buy for cash up to $25 million of some of its shares. The offer, known as an “unmodified reverse Dutch auction” was extended for the firm’s Series A units and Series B units at a price per common unit of not greater than $23.75. The …
Coterra closes on $1.5 billion notes offering
Coterra Energy Inc says it has closed its previously announced registered public offering of $1.5 billion in senior notes. The official closing of the offering was on Dec. 17. The offering included $750 million in 5.40% senior notes due 2035 and another $750,000 in 5.90% senior notes due 2055. The 2035 notes will mature …
Energy briefs
** The Biden administration released a long-awaited report Tuesday that could make it harder for the incoming administration to expand U.S. natural gas exports — the latest attempt by President Joe Biden’s agencies to Trump-proof his legacy. ** The United States should proceed cautiously as officials consider new natural gas export terminals, Energy Secretary Jennifer Granholm said …
Biden’s LNG report at odds with Trump’s energy plans
We have yet to hear from Oklahoma’s congressional delegation about the Biden-administration’s Department of Energy report on LNG exports, but a few others are speaking out and blasting what the report recommended. “The only ‘science’ driving the Biden-Harris LNG pause and study is political science,” said Sen. Bill Cassidy of Louisiana. “It’s no secret …
Corporation Commissioner tells Governor winter storm bond audits are “fakes”
With less than a month to serve in office because he is term-limited, Oklahoma Corporation Commissioner Bob Anthony is again reminding Gov. Kevin Stitt and elected legislative leaders that a one-page audit of one utility’s securitization bonds is not valid—it’s not legitimate. Anthony has argued for the past few years that the Corporation Commission’s …
Crude oil dropped again on bad Chinese economic news
Crude oil prices dropped to their lowest level in a week in Tuesday’s trading, mostly because investors believe demand from China and Germany will decline following negative economic news from the two countries. Prices declined nearly 1% as investors were still cautious about of an interest rate decision coming from the U.S. Federal Reserve. West …
Colorado firms accused of lying on contamination reports on hundreds of oil and gas wells
Falsified reports on hundreds of oil and gas sites in Colorado? It’s the claim of Colorado regulators who have made available more information about the alleged falsification of contamination data for hundreds of oil and gas sites by a pair of consulting firms, including a map of the locations in question. Colorado Newsline reports the …
Oil and gas groups urge Congress to move quickly on permitting reform
Do something about permitting reform—-the urgent message to Congressional leaders from a coalition of oil and gas trade groups across the U.S. The coalition “has issued an urgent call to House Speaker Mike Johnson for immediate action on permitting reform before the close of the 118th Congress,” according to the Energy Workforce & Technology …
Energy related appointments made to House Committees
House Speaker-Elect Kyle Hilbert announced a change to the House committee structure that will allow for more time and deliberation of bills at their initial consideration. At the same time, he also named leaders of committees, including those dealing with Oklahoma’s energy issues. House committees will now have a two-tiered structure with committees and oversight …