Oklahoma and the U.S. experienced another drop in the active number of oil and gas rigs in the past week. The Baker Hughes Rig Report, released on Friday, showed the rig count in Oklahoma declined by one, leaving 34 active rigs drilling in the state. A year ago, there were 40 rigs. Across …
(AP Photo/Martha Irvine, File) (ASSOCIATED PRESS) Federal regulators have signed off on approving the largest LNG export terminal in the country. The Federal Energy Regulatory Commission sanctioned the Venture Global Calcasieu Pass 2 southwestern Louisiana project. But what remains up in the air is whether it will be completed because of the Biden administration …
** BP has put all new offshore wind projects on pause as the oil company’s new chief executive seeks to focus more heavily on fossil fuels. Murray Auchincloss, who became permanent head of the business at the start of the year, has also frozen hiring in the offshore wind division. ** California lawmakers advance legislation that would …
Here’s an eye-opener about EV owners. A new survey says nearly half of the owners of electric vehicles in the U.S. aren’t happy with their purchase and regret making the switch from gasoline-powered vehicles to EVs. Released this month, the Mobility Consumer Pulse for 2024 conducted by McKinsey & Co., the survey found that …
** Here’s where more of your money is going. The Biden administration announced Wednesday $375 million in funding for renewable energy projects, predominantly through the Inflation Reduction Act (IRA). The funding, announced by Agriculture Secretary Tom Vilsack, includes $275 million through the Powering Affordable Clean Energy (PACE) program, an IRA program devoted to renewable electrification in rural …
Oil company executives surveyed by the Federal Reserve Bank of Dallas predict there will be a decline of US oil production—-if the corporate-acquisition spree continues across the shale sector. More than 50% of them said they see lower domestic crude output, especially if the consolidation of oil and gas firms continues for the next …
The U.S. saw a gain in crude oil stocks while the amount held in storage at Oklahoma’s Cushing Hub declined. The U.S. Energy Information Administration reported the U.S. saw a gain of 3.6 million barrels of crude oil, from 457.1 million barrels recorded on June 14 to 460.7 million barrels as of June …
The nation’s heat wave just sent natural gas prices into a negative zone in Texas as they fell below zero for the first time since May. It means there was an unexpected demand for natural gas to keep electricity produced. According to Reuters, pipe maintenance trapped gas in the Permian Shale even as demand for …
Phillips 66 says it’s become a leader in renewable fuels with the full conversion of its Rodeo Renewable Energy Complex in the San Francisco Bay Area. It means the company expanded its commercial-scale production as it increased rates to nearly 50,000 barrels a day or about 800 million gallons a year and achieved its …
With operations in Oklahoma’s SCOOP and STACK plays, Houston’s Nine Energy Service prepares a release of its second quarter earnings report. The information will be released on Tuesday, August 6 before a 9 a.m. central time conference call where the results will be discussed by company leaders. Nine Energy experienced a first quarter net …
