Crude oil prices and Oklahoma energy stocks wrapped up the trading week on Friday with gains. Oil prices rose on what Reuters described as a fresh stimulus from top crude importer China. West Texas Intermediate crude rose 51 cents or 0.75% to finish at $68.18 a barrel on the New York Mercantile Exchange. Brent crude, …
What are topics of discussion this week on Scott Mitchell talks energy with Jerry Bohnen? The main topic is the legal setback suffered by Corporation Commissioner Todd Hiett but there are other things to discuss—Chesapeake’s name change and the reported $2 billion sale of a Tulsa energy company.
The most recent crude stocks report from the U.S. Energy Information Administration revealed a gain of crude oil in storage at Oklahoma’s Cushing Hub but a decline of 4.5 million barrels nationally. The EIA report showed the U.S. stocks tumblerd from 417.5 million barrels as of September 13 to 413 million barrels on Sept. …
Crude oil prices had a negative reaction of more than 3% Monday to news that Saudi Arabia,the world’s top crude exporter will give up its $100 price target as it prepares in December to raise output. The reaction also sent Oklahoma energy stocks tumbling with some falling 5% and 6% for the day. The Financial …
** California Gov. Gavin Newsom signs into law three bills cracking down on the oil and gas industry, including one that allows local governments to block new drilling, one that ups cleanup requirements for idle wells and another that bans low-production wells from operating in a Los Angeles-area oilfield. ** New Jersey hit the pause button …
Tulsa’s Citizen Energy is reported to be acquired soon by rival Denver-based privately held oil and gas producer Validus Energy in a more than $2 billion deal. Officials with neither firm confirmed the sale. Reports indicated Validus came out on top in the auction over other bidders and the $2 billion deal will include …
Oklahoma U.S. Sens Markwayne Mullin and James Lankford contend the EPA’s latest proposed rule regarding waste-to-energy operations might be going too far and hurt Oklahoma landfill operations. The two sent a letter to environmental Protection Agency Administrator Michael Regan to express their concern over the proposed rule. Mullin is the Ranking Member of the Environment …
Oklahoma Corporation Commissioner Todd Hiett has until Friday, Sept. 27 to respond to a legal move made by three state legislators to remove him from voting on rate cases involving PSO, ONG and OGE in light of allegations of public drunkenness and sexual assault made against him. The Supreme Court issued an order this …
After waiting extra months for approval from government regulators, Oklahoma City’s Chesapeake Energy announced Thursday its merger with smaller rival Southwestern Energy Company was finally approved and it came with a new name. While the new company will be called Expand Energy, its headquarters will remain in Oklahoma City. Chesapeake stated in its announcement …
Tulsa’s Vital Energy, Inc. and Northern Oil and Gas, Inc. announced this week they closed their $1.1 billion acquisition of oil and gas operations in the Permian Basin. The deal just increased the holdings for Vital. Vital Energy acquired 80% and NOG the remaining 20% of Point Energy Partners which is a portfolio company …
