It took five years, but the Texas Panhandle ranch once owned by the late Oklahoma-bred oilman T. Boone Pickens finally sold. The sales price was far from the original asking amount for the 65,000 acre ranch in Roberts County, located about 85 miles northeast of Amarillo. The Mesa Vista Ranch, as it was called, last …
Category: Oil & Gas
Texas to price $3.5 billion in bonds to pay for 2021 winter storm utility costs
Just like Oklahoma did following the 2021 winter storm Uri, Texas also passed a law allowing utilities to securitize their storm costs. The only difference is, Oklahoma acted faster on the deal than Texas. This week, the Texas Natural Gas Securitization Finance Corp. plans to price a historic $3.5 billion transaction to bail out …
Energy briefs
** A nuclear power plant in Georgia has begun splitting atoms in one of its two new reactors, Georgia Power said Monday, a key step toward reaching commercial operation at the first new nuclear reactors built from scratch in decades in the United States. ** U.S. regulators sent another list of questions to Freeport LNG on …
Crude gained while OK energy stocks dropped on Monday
Crude oil prices managed slight gains on Monday but Oklahoma energy stocks suffered with 4% and 5% losses. Prices bounced back from early losses and oil executives express hopes for rising Chinese demand. West Texas Intermediate crude rose 78 cents or 1% and closed at $80.46 a barrel on the New York Mercantile Exchange. …
Commissioners want AG to probe winter storm natural gas costs
Two Oklahoma Corporation Commissioners have asked Attorney General Gentner Drummond to investigate possible natural gas price manipulation that might have occurred during the 2021 Winter Storm that sent utility costs sky high in the state. One made the request in a letter revealed this week while the other explained his request was made after the …
NGL sells marine assets on Gulf Coast
NGL Energy Partners LP in Tulsa announced the $112 million sale of its marine fleet that consisted of 13 towboats and 25 tank barges on the Gulf Coast. NGL used the fleet to provide waterborne transportation of refined products and crude oil for a diversified group of customers which include major oil refineries near …
Chesapeake reaches deal to supply LNG to Singapore firm
A subsidiary of Oklahoma City-based Chesapeake Energy just reached a 15-year deal to supply 2 million tons of LNG a year to a Singapore based company. The supply of LNG will come from the natural gas produced by Chesapeake Energy and its operations in Louisiana. The Heads of Agreement with Gunvor Singapore Pte Ltd …
Suncor’s Colorado refinery about to reopen
The oil refinery shutdown in Colorado that caused the state’s average gasoline prices to jump 16% since late December 2022 might be about to end. Suncor announced that after reopening Plant 2 at the refinery in Commerce City, it is now making preparations to do the same with Plants 1 and 3 according to …
Quick energy reads
** California officials arrest a man suspected of blowing up two Pacific Gas & Electric transformers and leaving thousands of Bay Area utility customers without power late last year. ** Many state and national leaders took to social media after a second Norfolk Southern train derailed in Springfield Saturday afternoon. Ohio Senator Sherrod Brown said he is …
XTO operation in New Mexico faces challenge from enviros
Environmental group WildEarth Guardians went after XTO Energy and its Permian Basin operations in southeast New Mexico. It filed a petition asking the federal government to object to a New Mexico state permit for emissions of potential air pollutants from the XTO Energy’s Wildcat Compressor Station according to the Carlsbad Current-Argus. WildEarth Guardians argued …
