A controversial rail line to carry oil from eastern Utah across Colorado still might have life after the U.S. Supreme Court agreed this week to consider an appeal of a lower court ruling that stopped the project. The 88-mile Uinta Basin Railway had initially received government approval but counties challenged the approval and …
Category: Oil & Gas
Energy briefs
** Flooding on the Blue Earth River in Minnesota breached the Rapidan Dam Monday morning and it’s now in an “imminent failure condition,” officials said. Le Sueur County residents in low-lying areas of the Minnesota River Valley are advised to closely monitor the situation and potentially evacuate, according to the county’s emergency management office. ** US West …
Inflation slows Gulf Coast LNG projects
Rising inflation and a shortage of skilled labor are being blamed for delays in some LNG projects along the Gulf Coast. At least five liquefied natural gas projects in Texas and Louisiana and another 16 others are on the drawing board looking for investment and customers. Reuters reports however, that labor costs have …
Enviros complain of oil and gas industry lobbying against abandoned well cleanup
Pro-environment publications ProPublica and Capital & Main reported how the oil and gas industry has lobbied hard in some states, including Oklahoma, to sabotage abandoned well cleanup bills. They cited several instances, including in New Mexico where the oil and gas industry worked in writing regulations, then used its influence to change some of …
Energy briefs
** A nonprofit backed by Chris Hohn, the billionaire money manager behind TCI Fund Management, says climate investors need to move into the highest-emitting sectors if they’re to effectively bring about a low-carbon energy transition. ** North Dakota officials approve a $32 million loan for a processing facility that will convert natural gas into liquid hydrocarbon products. …
Rep. Bice—Biden’s energy policies put Europe back into pockets of Putin
Oklahoma Congresswoman Stephanie Bice made it clear in a recent story for Dailywire that the Biden administration’s failing energy policies not only hurt American oil and gas producers but also harmed Europe and helped Russia. ““The Biden Administration’s decision to pause approvals for new LNG export terminals has once again forced Europe into the …
Crude oil prices dropped on Friday
Crude oil prices fell on Friday and Oklahoma energy stocks dropped as well. Investors were reportedly worried that global oil demand growth might be a victim of a strong U.S. dollar and negative economic news from around the world. The price decline came despite signs of improving U.S. oil demand and falling fuel inventories. West …
Quarterly distribution announced by NGL Energy Partners
Shareholders of NGL Energy Partners LP will be getting a distribution for the quarter ending June 30, 2024. The distribution of about 78 cents will go to holders of the company’s Class B and Class C preferred units Each of the Class B Preferred Units will receive a quarterly distribution of $0.7820 and …
BlackRock boycotted by Indiana over ESG issues
BlackRock just ran into more boycott problems. After being on Oklahoma’s list of firms blacklisted from handling state pension investments, the huge investment firm was just put on a watchlist by Indiana Treasurer Daniel Elliott. He took the steps as part of Indiana’s 2023 law banning state pension funds from investing with firms that …
Oil and gas rig numbers slide again in Oklahoma and the U.S.
Oil and gas drilling activity continued its decline in the past week, both in Oklahoma and across the U.S. resulting more drilling units placed in storage. Oklahoma’s count fell by two to 35 rigs, according to the Baker Hughes rig count released on Friday. A year ago, the state recorded 42 active rigs. …