Phillips 66 became the latest major energy company to report a major gain in earnings totaling $5.4 billion for the third quarter. It compared with $3.2 billion in earnings in the second quarter of the year. Adjusted earnings for the most recent quarter were $3.1 billion, down from the second quarter adjusted earnings of …
Category: Oil & Gas
Activists blast state leaders and call for probe of winter bond law
Activists who are demanding investigations into the Winter Securitization Bond efforts of 5 utilities in Oklahoma say they uncovered public records showing what they label as political corruption into how more than $4 billion in 2021 Winter storm costs were passed through to ratepayers. Standing outside the Oklahoma Corporation Commission headquarters Tuesday morning, the group …
Colorado towns join lawsuit to fight crude oil train
At least 10 communities in Colorado have joined a lawsuit to block plans for increased crude oil train traffic from Utah across Colorado. The towns are appealing the Surface Transportation Board’s 2020 decision for a new 88-mile stretch of railroad in Utah that would connect Uinta Basin oil fields with the national rail network …
Headlines of other stories
** U.S. federal regulators have told Freeport LNG to provide information needed for the planned restart of its liquefied natural gas (LNG) export plant in Texas, the second-largest U.S. LNG export plant, as soon as possible to allow sufficient time for review. ** A seriously low U.S. and global diesel supply is likely to drive up fuel costs and …
Third quarter income gains reported by ONE Gas
The third quarter proved to be a successful one for Tulsa-based ONE Gas as it reported net income of $23.7 million or 44 cents a diluted share. It compared with the $20.3 million or 38 cents a share in the third quarter of last year. “Our third quarter results demonstrate consistency and …
A 15% 3rd quarter growth reported by Williams Companies
Tulsa’s Williams Companies reported third quarter adjusted earnings of $1.6 billion, an increase of $217 million or 15% more than the third quarter of 2021. Cash flow from its operations was $1.490 billion—79% higher than a year ago and up $656 million. Williams reported available funds from its operations totaled $1.241 billion, another financial …
Oklahoma becomes latest to target financial groups that boycott oil and gas
Oklahoma on Tuesday will be the latest state to join the list of those going after financial institutions that target oil and gas companies with a boycott of their funds. The law was in response to such financial firms as Blackrock Investments which announced last year it would not finance oil and gas operations …
Oklahoma energy stocks rose as crude oil prices fell on Monday
Monday’s trading brought a drop in crude oil prices and the decline was blamed on expectations of increased U.S. production saddled with weaker economic data in China. But Oklahoma energy stocks ended with a strong trading day. U.S. benchmark, West Texas Intermediate crude for December delivery, dropped $1.37 or 1.6% to $86.53 a barrel …
Another utility wants storm cost help from Oklahoma regulators
Oklahoma Corporation Commissioners plan a public hearing Tuesday on still another utility wanting help in recovery of its costs from the February 2021 winter storm. Empire District Electric Company, headquartered in Joplin, Missouri but with customers in Oklahoma as well as Missouri, Kansas and Arkansas applied for approval of a Regulatory Asset and Special …
Chevron to build New Mexico solar farm
Chevron joined Algonquin Power & Utilities Corp in launching a 133-acre solar farm in southeast New Mexico to provide electrical power to the Permian Basin. Chevron’s Hayhurst Solar Power Facility is in Eddy County, New Mexico, a site on state trust land managed by the New Mexico State Land Office. Work is underway to …