ConocoPhillips said it would begin work “immediately” on its $7 billion Willow project in Alaska’s Arctic after a federal judge on Monday ruled against environmentalists who tried to stop the drilling effort. Reuters reported U.S. District Judge Sharon Gleason in Anchorage had been asked by environmental groups and a Native American community in two lawsuits filed …
** On Monday, after the Organization of the Petroleum Exporting Countries (OPEC) announced massive oil production cuts, the White House issued a joint statement with the European Union reaffirming that clean energy adoption is critical for enhancing energy security. The statement was a status update on the U.S.-EU Task Force on Energy Security formed amid …
Changes of corporate officers were announced Monday at Oklahoma City’s Gulfport Energy Corporation. Michael Hodges was named Executive Vice President and Chief Financial Officer while William “”Bill” Buese will transition from the CFO role. Buese will serve as an advisor to the Company until May 3, 2023. John Reinhart, Gulfport’s Chief Executive Officer commented, …
Crude oil prices and Oklahoma energy stocks soared in value in Monday’s trading after OPEC+ stunned markets with announced intentions to cut more production. Prices rose 6% while OK energy stocks gained as much as 11% and 12% in several instances. Investors apparently are worried that crude oil supplies will tighten following the decision …
Gasoline prices are on the increase in Oklahoma and the U.S. and some analysts predict we’ll pay $4 to $5 a gallon this summer. Oklahoma’s up $3.08 a gallon, an increase of 7 cents in the past w eek while nationally the average also gained 7 cents to reach $3.50 per gallon. GasBuddy says …
Oklahoma Corporation Commissioner Bob Anthony repeated his call for independent experts to review the 2021 Winter Storm Uri fuel costs claimed by PSO and ONG, and at the same time told his fellow Commissioners they were wrong in claiming the agency lacked such investigative powers. He also suggested $3 billion in fuel costs were …
Over the past two years, the oil and gas drilling activity in Colorado rebounded but remains below the amount of exploration that was performed before the COVID-19 pandemic. At last count, there were 19 active drilling rigs in the state according to Baker Hughes. Colorado has faced challenges in expanding its oil and gas …
** Tesla Inc. notched another record quarter of vehicle deliveries by a slim margin after cutting prices across its lineup early this year, suggesting orders may have slowed after an initial surge in demand. ** States are doling out more cash than ever to lure multibillion-dollar microchip, electric vehicle and battery factories, inspiring ever-more competition as …
Ovintiv, the company with a history of large producing oil wells in Oklahoma’s STACK play announced the $4.2 billion acquisition of more holdings in the Midland Basin of Texas, while at the same time selling its Bakken assets in North Dakota in an $825 million agreement to help finance the Midland deal. The Denver, …
An “outstanding year across the board,” is how Empire Petroleum’s President and CEO Mike Morrisett described 2022 for the Tulsa-based company as he released fourth quarter and full year financial results. The company announced that higher net sales volumes and pricing drove a 95% increase in revenue to $52.9 million for full-year 2022 that …
