A natural gas booster station fire last month in the Permian Basin that injured two workers in New Mexico led to a fine leveled by the New Mexico Oil Conservation Division. DCP Operating Company was fined nearly $67,000 over the incident near Artesia reported the Carlsbad Current-Argus. Click here for Current-Argus
Category: Oil & Gas
Empire Petroleum executive stepping down
Tulsa’s Empire Petroleum is on the hunt for a new Chief Accounting Officer. The company announced Monday that Angela M. Baker had informed the firm on Nov. 7 of her intentions to resign effective Nov. 30 of this year. No reason was given in a filing made by the company with the Securities and …
Slight increase in crude production forecast for Permian Basin
A new government report anticipates an increase in Permian Basin oil and gas production from November to December while the Anadarko Basin will stay steady. The EIA forecast total Permian Basin production is expected to increase from 5,460,000 barrels a day in November to 5,499,000 barrels a day in December. Natural gas production will …
Empire Petroleum reports increased revenues in 3Q
Tulsa-based Empire Petroleum announced third quarter financial results this week showing $14.8 million in recorded revenue with net income of $0.2 million or one cent a diluted share. Adjusted net income was $3.7 million or 16 cents per diluted share. The firm stated it generated adjusted EBITDA of $4.8 million or $23.36 per barrel …
Energy bills among those filed in Texas legislature
Among the 800 bills filed this week in the Texas legislature are some that would making building renewable energy facilities more difficult. One would increase setback requirements on the location of wind turbines according to the San Antonio Report. Click here for San Antonio Report
Other energy headlines
** Campaigning in Georgia on Sunday, Republican Senate candidate Herschel Walker said the United States is not ready to implement policies like the Green New Deal that are designed to address climate change. Instead, Walker suggested the country needs to “keep having those gas-guzzling cars” that produce “good emissions.” ** The U.S. is facing a diesel crunch …
Crude oil prices dropped $3 on Monday and took many Oklahoma energy stocks down too
Surging coronavirus cases in China dashed hopes of a speedy reopening of the economy for the world’s biggest crude importer and sent crude oil prices down on Monday. Prices dropped $3 a barrel and were dragged down also by a firmer U.S. dollar. West Texas Intermediate crude for December delivery dropped 3.5% or $3.09 …
Oklahoma Municipal League joins lawsuit against Corporation Commission
Oklahoma City’s legal challenge of the Oklahoma Corporation Commission decision that allowed OG&E not to collect franchise fees on its winter storm securitization charges has been joined by the Oklahoma Municipal League. The OML filed in late October a challenge to the Corporation Commission’s decision stating that the Commission acted outside of its jurisdiction …
J.B. Hunt trucking firm sets 32% emissions reduction target
The J.B. Hunt trucking company announced a new goal to reduce its carbon emission intensity 32% by 2034. Considered one of the largest supply chain solutions providers in North America,, the Lowell, Arkansas-based firm stated it would focus on three key areas to reach its target. Incorporating alternative powered equipment into its fleet Expanding …
Layoffs made at Phillips 66 operations in Bartlesville and Ponca City
Oklahoma operations of Phillips 66 are among those where workers have been laid off as the company moves forward with plans to meet 2022 cost savings of $500 million. Reuters indicated some of the layoffs happened at the company’s Ponca City refinery. The company did not reveal how many workers were let go. “These …