** The Biden administration maintains that the SPR is still the largest strategic reserve across the globe. It has about 400 million barrels remaining, which Biden says is “more than enough for any supply emergency.” ** The US now has just a 25 day supply of diesel, and that’s the lowest level since 2008. On top …
Category: Oil & Gas
Southwest Power Pool names new director of electricity development
Southwest Power Pool (SPP), a regional power grid operator that ensures access to reliable and affordable electricity, has chosen Carrie Simpson to lead the continued development of its electricity services in the western U.S. as Director of Western Services Development effective Nov. 1, 2022. In her new role, Simpson will direct the ongoing development …
Oil and Gas operators standing up against New Mexico’s latest moves
A recent move by the state of New Mexico to tighten requirements on oil and gas operations has prompted oil and gas leaders to put up a fight. The push by Gov. Michelle Lujan Grisham to reduce environmental impacts and transition away from oil and gas prompted the head of the Independent Petroleum of New …
Crude oil unsettled in Thursday’s trading while OK energy stocks fell
Thursday’s crude oil prices reflected growing worries about inflation and its impact on the demand for oil. While US prices managed a small gain, overseas prices fell. West Texas Intermediate crude for November delivery went up 43 cents or .50% to settle at $85.98 a day on the New York Mercantile Exchange. Global benchmark …
Oklahoma joins probe of Net-Zero Banking Alliance
Oklahoma Attorney General John O’Connor announced that his office and 18 other attorneys general have served six major American banks with civil investigative demands, which act as a subpoena, asking for documents relating to the companies’ involvement with the United Nations’ (UN) Net-Zero Banking Alliance. The banks under investigation include Bank of America, Citigroup, Goldman …
Partnership promotes energy jobs in Oklahoma
This week was Careers in Energy Week as Oklahoma Gas and Electric and Oklahoma State University-Oklahoma City joined efforts to encourage job seekers to explore energy work as a career path. Specifically, those taking part in the job-seeking were encouraged to consider employment from chemical and electrical engineering to oil rig and electric utility …
Details of Harold Hamm’s takeover of Continental Resources
Details of Harold Hamm’s $4.3 billion takeover of Continental Resources were made known this week in filings with the U.S. Securities Exchange Commission. In two separate filings, Hamm and his Omega Acquisition, Inc., the firm merging with Continental Resources to complete the takeover, offered detailed ownership of company shares by the Hamm family and members …
Congressional delegation quiet about Biden’s latest oil move
They’ve been critical of the President’s use of the Strategic Petroleum Reserve in the past. But Oklahoma’s congressional delegation was mostly quiet after President Biden announced Wednesday the planned December release of 15 million more barrels of oil from the Reserve. Tulsa Rep. Kevin Hern tweeted his criticism of the oil release, saying, “The …
Archaeological surveys to be required for oil and gas drillers in New Mexico
Beginning in December, New Mexico will have a rule in place requiring oil and gas drillers and those building pipelines or roads, to carry out archaeological or cultural surveys. The New Mexico State Land Office finalized the rule that takes effect Dec. 1, 2022 Land Commissioner Stephanie Garcia Richard said the new regulation will …
Dividend declared by ONEOK
Investors in ONEOK, Inc. are getting another dividend. The board of directors of the company declared a quarterly dividend of 93.5 cents per share. The amount is unchanged from the previous quarter and results in an annualized dividend of $3.74 per share. In making the announcement, ONEOK officials explained the dividend will be payable …