A launching of the nation’s largest and the world’s second-largest operational direct air capture plant will be held Tuesday at a site in northern Oklahoma near the Osage County town of Shidler. Heimdal Inc, a pioneer in direct air capture (DAC) carbon dioxide removal technology, plans to formally begin the Project Bantam operation …
Category: Oil & Gas
Southwestern Energy reports $608 million net loss in 2Q
While still awaiting government approval of Southwestern Energy’s merger with Oklahoma City-based Chesapeake Energy, Southwestern recently revealed its second quarter earnings which included a net loss of $608 million or 55 cents a share. The Texas-based company said its adjusted net income was $113 million or 10 cents a share and adjusted EBITDA was …
Energy briefs
** Some of the top US oil refiners are throttling back operations at their facilities this quarter, adding to concerns that a global glut of crude is forming. Marathon Petroleum Corp. — owner of the largest US refinery — plans to operate its 13 plants at an average of 90% of capacity this quarter, the …
Ditch Witch turns 75 years old
Gov. Kevin Stitt helped Ditch Witch celebrate its 75th anniversary in the past week in Perry and at the same time note that the company plans a 170,000 square foot addition and the creation of 100 more jobs. Ditch Witch, owned by The Toro Company based in Bloomington, Minnesota, plans a new paint line …
Kansas Gas Service agrees to smaller rate hike
The ONE Gas company, Kansas Gas Service has agreed to a smaller rate hike on its customers in Kansas. But it will still mean a monthly bill increase of $3.83 according to the recent announcement by the Kansas Corporation Commission. The KCC has yet to take a final vote on the rate hike request …
Gasoline prices take another slip downward in Oklahoma
U.S. gasoline prices slipped three cents in the past week to a new national average of $3.44 per gallon while Oklahoma prices fell by three cents to $3.04 per gallon. Motorists might remember Oklahoma’s average was $3.15 a month ago. What is surprising is where the cheapest gasoline prices are in Oklahoma—-the Panhandle. Cimarron …
PHX Minerals recorded improved 2Q earnings
PHX MINERALS INC., reported a turn-around in earnings in the second quarter, moving from a net loss to an actual gain of net income. But its six month earnings lagged seriously behind the first half of 2023. The Fort Worth-based energy company recorded net income of $1.3 million or 4 cents a share …
Williams offers $1.5 billion in notes
Williams Cos. announced its offer of $1.5 billion in senior notes as the Tulsa company intends to use the source of funds to not only repay its commercial payer but to fund capital expenditures and other general corporate purposes. Williams announced that it has priced a public offering of $450 million of its 4.800% …
Crude oil settled higher on Friday
Crude oil recorded gains on Friday and finished the week more than 3.5% stronger, thanks to positive economic data and signals the Fed policymakers might cut interest rates in September. West Texas Intermediate crude rose 65 cents or 0.9% to close at $76.84 a baarrel on the New York Mercantile Exchange. Global benchmark Brent crude …
Gain in U.S. oil and gas rig count while Oklahoma is steady
The nation saw a gain of two rigs in the past week to reach 588, reported Baker Hughes Co. on Friday. Oklahoma’s count was unchanged from the previous week with a total of 35 rigs. A year ago, the state had 40 active oil and gas rigs. Nationally, Baker Hughes indicated the U.S. count …