** Exxon Mobil said on Monday lower natural gas prices and refining margins are expected to hit the oil major’s second-quarter earnings. The oil major would be reporting its first earnings after closing the acquisition of Pioneer Natural Resources for $60 billion, with the combined operations making it the largest oil producer in the Permian basin. ** …
Category: Oil & Gas
Scott Mitchell Talks Energy with Jerry Bohnen as they discuss Devon $5 billion new acquisition
Devon Energy’s $5 billion purchase of more holdings in the Williston Basin, Senate Democrats probe Chesapeake Energy and Continental Resources and how OG&E defended its $10 a month hike to residential customers. They were discussed at length on the latest Scott Mitchell Talks Energy podcast with Jerry Bohnen. Click below to view.
Beryl sent crude prices falling on Monday
Crude oil prices hit a one-week low in Monday’s trading, falling about 1% for the day. The slide came as Hurricane Beryl hit Houston and forced the shutdown of U.S. refineries and ports along the Gulf of Mexico. At the same time, prices fell as some clung to the prospects of a ceasefire …
Explosion at Grady County pulling unit injures 3 workers
(photo from News 9 live coverage) A pulling unit or workover rig at an oil well site in Grady County exploded and caught fire Monday afternoon and sent three workers to the hospital. Not many details are known but the well site is near the town of Bradley and on County Street 2990 near …
Accounting specialist says Corporation Commission audits of utility storm spending don’t comply with state law
A longtime honored and recognized accountant lent support Monday to Oklahoma Corporation Commissioner Bob Anthony’s criticism of the 2021 winter storm audit of spending by utilities that later used securitization bonds to extend their expenses to ratepayers for up to more than 25 years. David Greenwell, a former chairman of the Oklahoma Accountancy Board, …
Conservative group attacks credibility of ESG study in Oklahoma
A Washington, D.C. based conservative group, the American Accountability Foundation, has come out attacking the credibility of the University of Central Oklahoma professor whose recent study of the state’s energy discrimination act was used in criticizing the enforcement of the measure. The Foundation, using the Open Records Act in Oklahoma, obtained an email sent …
Devon Energy expands Williston Basin holdings with $5 billion acquisition
Oklahoma City’s Devon Energy just expanded its holdings in the Williston Basin and strengthened its position for at least the next ten years with a $5 billion acquisition of assets from Houston’s Grayson Mill Energy. Devon announced Monday the acquisition, consisting of $3.25 billion in cash and $1.75 billion in stock to the sellers, …
Energy briefs
** Rail cars carrying hazardous materials derailed in North Dakota on Friday and caught fire, the latest train derailment in the U.S. as concerns over railroads remain high. Twenty-nine cars of a Canadian Pacific Kansas City (CPKC) train derailed around 3:45 a.m. in a marshy area surrounded by farmland that’s about 140 miles northwest of Fargo, according to Andrew Kirking, …
Louisiana’s Cancer Alley might be more dangerous than first thought
Louisiana’s so-called “Cancer Alley” might be far worse than originally thought. At least that’s according to environmental engineers from Johns Hopkins University whose recent study of air quality for pollutants in southeast Louisiana discovered the ethylene oxide gas produced in the industrial areas is more more toxid than believed. The researchers discovered that levels …
OGE’s rate hike arrived in the mail box over the weekend
The snail mail news of OG&E’s jump in utility rates arrived over the weekend. The utility slipped into the startling climb in rates by opening, ‘We know you depend on us to energize your home and business and that your top priority for us is reliability.” Further down in the letter came the …