Oklahoma Unaffected by Federal Energy Award Cancellations Energy Secretary Chris Wright announced the cancellation of more than 300 Department of Energy financial awards made under the Biden administration. None of the canceled projects were located in Oklahoma. The state, which typically leans Republican in presidential elections, did not receive any of the original awards. Last …
Category: Oil & Gas
U.S. Oil Output Hits 13.6M Barrels, Prices to Drop
Record Oil Production Sets New Benchmark The U.S. Energy Information Administration (EIA) reported record-breaking oil output for July, reaching 13.6 million barrels per day.That figure tops the previous month’s total of 13.5 million barrels per day and marks a major milestone for the country’s energy sector. The EIA’s latest Short-Term Energy Outlook also predicted sustained …
Energy Briefs: Coal Sale Delay, Chevron Fire, China Controls
Coal Lease Sale Postponed After Weak Montana Auction The Trump administration has postponed a scheduled coal lease sale in Wyoming just two days after a disappointing turnout in Montana.An Interior Department spokesperson confirmed that the sale — which included 3,508 acres of federal coal reserves in Campbell and Converse counties — had been set for …
Buildup of US crude oil supplies but not at Cushing Hub
National Crude Inventories Climb A buildup in U.S. crude oil inventories is raising eyebrows among investors and market analysts. According to the latest “This Week in Petroleum” report from the U.S. Energy Information Administration (EIA), the nation’s oil stocks increased by nearly 3.8 million barrels in the past week. The EIA reported that U.S. crude …
Crude oil prices grew on increased Russian oil
Growing concerns about possible increased production of Russian oil sent prices up about 1% in Wednesday’s trading and at the same time, there were more worries about increased U.S. oil consumption. Prices actually hit a one-week high, reaching the highest brent close since September 30 and the highest WTI finished since September 29. …
Oklahoma Oil and Gas Expo Brings Industry Leaders Together
Industry Leaders Converge at the Oklahoma State Fairgrounds Energy producers and executives from across the region gathered Thursday for the Oklahoma Oil and Natural Gas Expo at the State Fairgrounds in Oklahoma City.The annual event, a highlight for Oklahoma’s energy sector, celebrates innovation, community, and the people who power the oil and gas industry. Running …
Ovintiv Eyes Q3 Earnings After $1B Cash Flow
Strong Q2 Sets High Bar for Ovintiv’s Next Report After posting more than $1 billion in operating cash flow in the second quarter, Ovintiv Inc. is preparing to release its third-quarter earnings in early November. Investors are watching closely to see whether the company can keep its momentum going. The Denver-based oil and gas producer, …
Exxon Mobil Pauses $10B Texas Plastics Project
Market Conditions Slow Exxon’s Mega-Project Oil giant Exxon Mobil is tapping the brakes on one of its biggest U.S. industrial investments. The Houston-based company confirmed it will pause construction of its proposed $10 billion plastics manufacturing complex in rural Calhoun County, Texas. The project, known as Coastal Plain Venture, was expected to break ground within …
Wyoming Oilfield Dumping Case Raises Environmental Concerns
Oilfield Waste Dumping Case Sparks Outrage in Wyoming A court case in Wyoming is stirring national outrage over how lightly environmental crimes are punished in the oil and gas sector. Two oilfield supervisors, Darwin Crawford and Mark Orchard of Baggs, Wyoming, were sentenced for ordering illegal dumping that federal prosecutors say permanently damaged public …
EIA expects U.S. oil production to increase in October
EIA adjusts forecast for U.S. oil production as producers set a record in July 2025 The U.S. Energy Information Administration (EIA) forecasts in its October Short-Term Energy Outlook (STEO) that U.S. crude oil production will average 13.5 million barrels per day in both 2025 and 2026, both slightly higher than the agency’s September forecast. EIA data show …