** President Biden is expected to tout the progress his administration has made on climate change in remarks in New York City this week, as the issue remains an area of stark contrast between Democrats and Republicans. A White House fact sheet said the speech will focus on the administration’s “unprecedented progress in tackling the …
Category: Oil & Gas
Sen. Mullin wonders where Senate Democrats are in protecting oil and gas fracking
Oklahoma U.S. Sen. Markwayne Mullin responded this week to a recent op-ed in the Wall Street Journal and wrote a letter to the editor pointing out the importance of hydraulic fracturing to support U.S. allies and keep energy costs low. In it, Sen. Mullin asked the question, Where are Senate Democrats on fracking? …
Devon Energy sets date for release of 3Q earnings report
Devon Energy plans to release its third quarter earnings report on Tuesday, Nov. 5. The report will be made public after the close of U.S. financial markets. The following day, Wednesday, Nov. 6, Devon will hold a conference call beginning at 10 a.m. Central Standard Time. Executives will be available for questions from …
Crescent Midstream to develop carbon capture, storage project
The oil pipeline developer Crescent Midstream reportedly plans to build a carbon capture and storage project in southwestern Louisiana. Reuters reports the billion-dollar project would capture the carbon dioxide from Entergy’s natural gas-fired power plant at Lake Charles. Developers say the project is expected to capture up to three million tons of carbon dioxide yearly …
FTC expected to approve Chevron’s purchase of Hess
It could happen this week. The Federal Trade Commission is expected to approve Chevron’s purchase of Hess as soon as this week. Exxon is challenging the deal. The purchase was first announced a year ago. Reuters reports uncertainty over completion of the $53 billion purchase has knocked Chevron shares down by 1% this year. Exxon …
Oil companies evacuating workers from Gulf oil production platforms
The approach of a second major hurricane in the last two weeks has oil companies evacuating workers from their Gulf of Mexico oil production platforms. The storm appears to be heading toward those production fields, for now. The US National Hurricane Center says Tropical Cyclone System Nine near western Cuba is expected to become a …
Oklahoma energy stocks perform well Monday
Brent crude was lower but WTI was higher on Monday. Reuters reported that worries about falling demand were compounded by disappointing eurozone business activity and a weak Chinese economy. West Texas Intermediate crude finished 31 cents higher Monday at $70.68 a barrel on the New York Mercantile Exchange. Brent crude, the global benchmark, was 59 …
Energy briefs
** The US Commerce Department on Monday proposed prohibiting key Chinese software and hardware in connected vehicles on American roads due to national security concerns – a move that would effectively bar nearly all Chinese cars from entering the US market. ** The U.S. Energy Department awards a manganese and zinc mine under development in …
New Mexico wants to double oil and gas industry permitting fees
It’s not just a small increase that New Mexico regulators propose in oil and gas permitting fees to help fund staff to process applications and enforce rules. In some cases, it would be more than doubling the existing fees. Environment Secretary James Kenney recently informed a legislative committee that the big jump in fees …
Chesapeake and Southwestern Energy merger moves closer to completion
The $7 billion merger of Oklahoma City’s Chesapeake Energy and Houston-based Southwestern Energy is closer at hand. After a delay caused by the Federal Trade Commission which wanted more documents and details of the deal, now the two companies anticipate a closing early in the fourth quarter. It’s what Chesapeake CEO Nick Dell’Osso said over …