An increase in U.S. crude stockpiles was blamed for a 3% or nearly $3 a barrel drop in prices on Wednesday. It also sparked huge losses for Oklahoma energy stocks with some tumbling as much as 12%. Stockpiles increased more than expected and combined with a reported rebound of COVID-19 cases in importer China, …
Category: Oil & Gas
Corporation Commissioners to decide on OGE bill increase
OGE’s request for increased fuel cost adjustment charges faces yet another hearing Thursday as the utility wages an uphill battle with consumer groups. The utility seeks the increase because of a summer collections shortfall totaling $424 million. If approved by Corporation Commissioners, it would result in f a 7.4% or nearly $9.73 increase for …
Devon highlights ESG progress in sustainability report
Devon Energy leaders released their annual sustainability or ESG report this week highlighting their company efforts to be a “responsible environmental steward.” “Devon’s continued progress on our ESG targets is something I’m extremely proud of,” said Rick Muncrief, president and CEO. “As a company we aim to lead by example by using the same thoughtful, …
Final results in Kim David’s election to Oklahoma Corporation Commission
Former State Sen. Kim David celebrated her Corporation Commission victory Wednesday and now has 9 weeks to prepare to assume office in January 2023. The final results were posted by the Oklahoma Election Board and showed that with 100% of the 1,984 precincts reporting, the Republican candidate received 63.50% of the statewide votes. She …
Mullin declares he’ll make energy his top priority as Oklahoma’s next US Senator
The morning after he won one of the two Oklahoma U.S. Senate races, congressman Markwayne Mulllin declared that energy will be his”number one priority” for inflation purposes. It’s what he said in a nationally televised interview on “Mornings with Maria Bartiromo” on Fox News. In January, he will join newly re-elected Sen. James Lankford …
EIA now expects U.S. natural gas prices to average above $6.00/MMBtu this winter
Get ready for higher natural gas bills this winter. The U.S. Energy Information Administration is out with its prediction that natural gas spot prices at the U.S. benchmark Henry Hub will average $6.09 per million British thermal units. That’s the highest real price since the winter of 2009-10. The forecast reflects natural gas storage levels …
Other headlines
** Wyoming’s oil and gas industry decides not to appeal a judge’s ruling that the Biden administration’s 2021 oil and gas leasing pause was legal. ** Dozens of mylar balloons blow into a Utah substation, leaving more than 22,000 households without power. ** Arguments begin in a Utah youths’ lawsuit over the state’s alleged promotion of fossil fuels and its effects on air …
Diesel fuel prices hover close to $5 a gallon in Oklahoma
The federal government is predicting the continuing decline in diesel fuel inventories will cause prices to soar through early next year. It’s the prediction of the U.S. Energy Information Administration which issued a report this week declaring that diesel prices “will remain higher than $5 per gallon the remainder of the year.” Prices in …
Latest large producing wells in Oklahoma
Blaine and Garvin Counties in Oklahoma are sites of the biggest new oil producers. Ovintiv did it again, scoring a Garvin County well with production of 2,159 barrels of oil a day along with 1,910 Mcf of natural gas. The Kellner 0304 1h-22x, located at 33 3N 4W, a site several miles south of Lindsay, …
Former Sen. Kim David wins Corporation Commission race
Former State Sen. Kim David will be Oklahoma’s newest Corporation Commissioner after making a sweep of her race with 64% support. The Republican candidate from Porter won Tuesday’s general election race, beating Democrat Margaret Warigia Bowman of Tulsa and Independent Don Underwood. With 95% of the votes reported Tuesday night, David had received 690,857 …