While west Texas and the Permian Basin felt a 5.1 magnitude earthquake this week, New Mexico regulators dealt with the cancellation of 75 waste water injection wells they believe were tied to earthquakes in their state’s part of the Basin. The New Mexico Oil Conservation division cancelled the wells along the state’s southern …
Category: Oil & Gas
Permian’s Diamondback Energy considers using produced natural gas to generate electrical needs
One of the Permian Basin’s biggest oil companies, Diamondback Energy, is weighing the prospects of using some of its produced natural gas to generate electricity for its drilling and fracking operations. It’s what Diamondback Chief Executive Officer Travis Stice said at this week’s Pickering Energy Partners investor conference in Austin, Texas. “What we’re trying …
Energy briefs
** Crude oil remains markedly lower year-to-date, reflecting China’s dour demand outlook and plans by OPEC+ to eventually restore some shuttered output. The headwinds have been partially countered by supply disruptions in Libya and the US and prospects for monetary easing, with investors expecting the Federal Reserve to start lowering interest rates. ** -Permian Resources …
West Texas hit with 5.1 magnitude earthquake
Right in the heart of the Permian Basin, a major earthquake was recorded this week. The U.S. Geological Survey stated it measured 5.1 magnitude and was centered near Midland, Texas. The quake was recorded Monday night at 7:49 and was close to the community of Ackerly or about 27 miles north of Midland. …
Kimray partners with Canadian firm Kathairos in emissions reduction effort
Days after Oklahoma City’s Kimray Company announced a 15% workforce cut that affected 150 employees, the energy control solutions firm announced a partnership with a Canadian firm to provide zero-emissions solutions to upstream oil and gas facilities. Kimray said it had joined Kathairos, a nearly 4-year old firm based in Calgary, Canada and considered …
Crude oil prices made more gains on Tuesday
Tuesday brought another gain of increased crude oil prices as they gained from 1% to 2% because of increased supply disruptions. Reuters indicated that traders also bet demand might increase if the Fed lowers borrowing costs this week. The news group reported more than 12% of crude output from the U.S. Gulf of Mexico was offline …
Ponca City state Representative chosen to head legislative energy council
Rep. Ken Luttrell, R-Ponca City, was recently elected to serve as the chairman of the Center for Legislative Energy and Environmental Research (CLEER). The election came at the Energy Council’s annual Global Energy and Environmental Issues Conference held in Tulsa, Oklahoma. “It’s an exciting time to be part of the Center for Legislative Energy and …
What PSO’s $730 million gas plant purchase means to customers
Documents filed this week with the Oklahoma Corporation Commission show the Jenks gas plant purchased by Public Service Company of Oklahoma was sold in a $730 million deal that will result in higher bills for customers. It will also mean another PSO rate hike request is coming in 2025. First, the acquisition will …
AARP hopes to block endless stream of utility rate hikes
So many utility rate hikes are hitting Oklahoma ratepayers, it’s like a game of whack-a-mole, Sean Voskuhl, AARP Oklahoma State Director, said during a Tuesday town hall meeting where hundreds of millions of dollars in new requests were discussed. “They say it’s only $2 to $3 more a month but when you add these …
Energy briefs
** Members of an Arizona tribe are trying to persuade a federal judge to extend a temporary ban on exploratory drilling for a lithium project near lands they have used for religious and cultural ceremonies for centuries. Leaders of the Hualapai Tribe and others are scheduled to testify in U.S. District Court before the judge who issued …