If a bill becomes law as proposed by Sen. Nathan Dahm of Broken Arrow, Oklahoma could become the first state in the nation to develop its own Strategic Petroleum Reserve, one copied after the national Strategic Petroleum Reserve. The Senator introduced SB205 which calls for the creation of a petroleum reserve that will hold …
Category: Oil & Gas
Crude oil in storage increases in Cushing hub and across the U.S.
Crude oil supplies again rose at the Cushing hub in Oklahoma in the past week, following what the U.S. total storage supply did. The U.S. Energy Information Administration reported Cushing’s stored crude oil increased 4.3 million barrels, reaching a new total of 35.7 million barrels as of January 20. A week earlier on January …
Marathon Oil hits big producer in south central Oklahoma
A Marathon Oil Company well located 5 miles south of the city of Lindsay in Garvin County produced more than 1,700 barrels of oil a day when completed last spring. Marathon filed the completion report this week on the Hard Knox 0304 1-3-34sxh located at 9 3N 4W. Production totaled 1,728 barrels of oil …
Sen. Mullin outlines how energy restoration is important to him
Oklahoma’s newest U.S. Sen. Markwayne Mullin made it clear this week he intends to make energy one of his key efforts, carrying it over from his days as a U.S. House Representative. In a message to Oklahomans, the Republican Senator wrote, “Restoring American energy independence is one of my top priorities in the United …
Energy headlines elsewhere
** The U.S. Forest Service has finalized a rule restoring protections rolled back under the Trump administration for the Tongass National Forest in Alaska, the largest such forest in the U.S. ** Data from the Bureau of Land Management shows that President Biden approved more oil and gas drilling permits in his first two years …
Crude oil prices saw little change in Wednesday’s trading
Wednesday’s crude oil prices didn’t change much in trading, mostly because of a smaller-than-expected gain in U.S. crude inventories. It was also not a strong day in trading for Oklahoma energy stocks. West Texas Intermediate crude rose 2 cents to $80.15 a barrel on the New York Mercantile Exchange. Global benchmark Brent crude finished one …
Environmental group sues EPA to stop fracking in Colorado
The environmental group, Center for Biological Diversity filed a lawsuit against the Environmental Protection Agency to limit pollution from drilling and hydraulic fracturing for oil and methane gas in Colorado. “Colorado can’t keep letting more and more oil and gas wells spew their pollution if we’re going to have any hope of fixing our …
Number of DUCs holds steady in most of US oil producing areas
With government reports predicting an increase in oil production in the U.S., the drop in the number of DUCS or drilled but uncompleted wells has dropped dramatically in the past few years. In March of 2019, there were more than 8,500 reported DUCs in the U.S. The most recent count, according to the U.S. …
EIA predicts record oil production in 2023 and 2024
The federal government predicts the U.S. will see record crude oil production this year and next. The January 2023 Short-Term Energy Outlook, released this week by the U.S. Energy Information Administration, will average 12.4 million barrels a day and 12.8 million barrels a day in 2024. If true, the 2023 production will surpass the …
US Senate version of bill to protect Strategic Petroleum Reserve is filed by Wyoming Senator
Oklahoma U.S. Sens. James Lankford and Markwayne Mullin might soon have a chance to vote on a bill to stop what critics say has been political use of the country’s Strategic Petroleum Reserve by President Biden. Here’s why. Wyoming Republican Sen. John Barrasso has introduced what he calls the Secure Auction for Energy Reserves …
