Kimray, Inc., an Oklahoma City-based oil and gas control equipment manufacturer, announced Thursday it is reducing its workforce by 15 percent to narrow its focus on core business functions and strategic priorities. The change impacts approximately 120 individuals. “While there has been a softening in the oil and gas market, there is still …
Category: Oil & Gas
Energy briefs
** They’re ugly as sin, but new U.S. postal delivery trucks are rolling into service. Once fully deployed, they’ll represent one of the most visible signs of the agency’s 10-year, $40 billion transformation led by Postmaster General Louis DeJoy, who’s also renovating aging facilities, overhauling the processing and transportation network, and instituting other changes. ** Boeing waited …
Anti-ESG efforts might be under SEC probe
While mostly Republican Attorneys General, including Oklahoma Attorney Gentner Drummond, are investigating the ESG policies of 25 national financial firms, a group that worked with GOP officials to target ESG policies might be under investigation by the Securities and Exchange Commission. The probe was sought at the urging of the left-leaning watchdog group Campaign …
Attorneys General start probe of ESG policies of national financial firms
Oklahoma Attorney General Gentner Drummond is among more than two dozen attorneys general demanding answers from financial firms over their ESG policies. Drummond and attorneys general from Kansas, Missouri, Iowa, Nebraska and other states claimed the firms approved environmental policies over the concerns of their shareholders. The lengthy demand letter was sent to …
Cushing sees drop in crude stocks in most recent EIA report
As the U.S. crude stocks increased in the past week, the Cushing Hub in northern Oklahoma experienced a decline in its crude oil in storage. The U.S. Energy Information Administration, in a Wednesday release, show the U.S. crude stocks increased by 800,000 barrels, from 418.3 million barrels as of August 30 to 419.1 …
Energy bills consume more money from nation’s low income residents
New research from the American Council for an Energy-Efficient Economy (ACEEE) shows that a quarter of low-income households in the United States spend more than 15% of their income on energy bills. Consistent with ACEEE’s previous research, the new policy brief found that on average low-income residents, Black households, and Hispanic households experience higher energy …
Crude oil gains made over worries of hurricane shutdown of oil production
After a big drop on Tuesday, crude oil prices rose more than 2% on Wednesday because of fears Hurricane Francine might hit U.S. offshore oil production and cause production shutdowns. The gain also came as the country reported an increase in crude inventories. However, the Cushing Hub saw a decline. West Texas Intermediate crude rose …
Explosion at Maysville gas plant substation injured 3 workers
Three persons are recovering after being injured in an explosion and fire at a Maysville substation connected to a gas plant. The incident occurred Wednesday morning around 8:45 and the three were medi-flighted to the OU Health and Baptist hospitals in Oklahoma City. Garvin County Emergency Manager Dave Johnson was quoted as saying an …
Helmerich and Payne announces $1.25 billion notes offering to pay for international acquisition
Tulsa-based Helmerich & Payne announced it had priced an offering of $1.25 billion in senior notes to help pay for its recent acquisition of an international oil and gas operation headquartered in the United Kingdom. The acquisition, announced in late July, totaled $1.9725 billion in cash as Helmerich & Payne took over KCA …
Lobbyists for and against EVs pour millions into Capitol Hill
(Photo by Jonathan Raa/NurPhoto via Getty Images) A review of the amount of money dumped into lobbying efforts, both pro and con when it comes to EVs, shows the eventual total for 2024 will surpass what was spent last year. Open Secrets found intense lobbying efforts came from supporters of electric vehicles and those who …