** Despite slowing U.S. electric vehicle sales, Hyundai on Tuesday rolled out the 2025 versions of its Ioniq 5 electric SUV with improved battery range and charging aimed at broadening the appeal of vehicles to be built at a massive new Georgia factory. ** Arizona’s attorney general joins environmentalists in a lawsuit challenging state regulators’ …
Category: Oil & Gas
Libyan crude oil shutdown sent prices tumbling to lowest levels in 9 months—OK energy stocks were hit hard
Crude oil prices plunged nearly 5% in Tuesday’s trading and hit their lowest levels since December of last year and Oklahoma energy stocks suffered losses ranging from 3% to 9%. What brought down crude to their lowest levels in nearly nine months? Mostly it was because of the dispute that stopped Libyan crude production and …
OERB report shows restoration of 1,100 abandoned well sites
More than 1,100 abandoned oil and gas well sites in Oklahoma were cleaned up in the past year through the efforts of the oil and gas industry, according to the 2024 annual report of the Oklahoma Energy Resources Board. The report showed 1,113 sites were restored through contributions of the fossil fuel industry …
Gulfport Energy makes $500 million note offer
Gulfport Energy Corporation announced Tuesday that Gulfport Energy Operating Corporation, a wholly owned subsidiary of Gulfport, intends to offer $500 million aggregate principal amount of Senior Notes due 2029 in a private placement to eligible purchasers. The Notes are expected to be unconditionally guaranteed by Gulfport and Gulfport’s wholly owned subsidiaries that guarantee …
AARP fights PSO rate hike
One of the groups fighting the $218 million rate hike request filed by Public Service Company of Oklahoma is the AARP, American Association of Retired Persons. It is siding with Attorney General Gentner Drummond in opposing the request that was filed only a few months after PSO obtained another rate hike last fall from …
Texas sued over its anti-ESG law—faces same kind of lawsuit as Oklahoma
Just as Oklahoma has been sued over its anti-ESG law, Texas now faces the same kind of lawsuit. The American Sustainable Business Coalition, described as a progressive business group, took Texas to court last week over the state’s 2021 anti-ESG law that blocks state investments in firms that no longer have ties with the …
Leadership team changes made at Baker Hughes
Baker Hughes Company announced Tuesday several changes to its leadership team, effective by Oct. 1. Amerino Gattiis was appointed executive vice president (EVP) of Oilfield Services & Equipment (OFSE). Gatti joins Baker Hughes as a seasoned energy and industrial executive, recently serving as chief executive officer and chairman of the board of TEAM, Inc. …
SandRidge Energy wraps up $144 million acquisition in western Oklahoma
SandRidge Energy announced this week it formally closed on its $144 million acquistion of more assets in the Western Anadarko Basin. The assets are in the Cherokee play of the Basin in Ellis and Roger Mills counties of Oklahoma but SandRidge did not ever reveal the identity of the seller or sellers. SandRidge confirmed …
Energy briefs
** Southern California Edison cut off electricity Sunday to 140 homes in the Portuguese Bend community, an outage that it says is indefinite because the shifting ground threatens utility poles and raises the risk of fires in the city. Another 200 homes were expected to lose it Monday night. ** Vice President Kamala Harris plans …
Oklahoma sees gain in rig activity but the US records a drop
While Oklahoma gained on its rig count in the past week, the nation’s number of active oil and gas rigs declined, according to the latest Baker Hughes rig count released on Friday. Oklahoma saw a gain of one rig to reach 39, the same count as one year ago. The U.S. recorded a …