Oklahoma Congressman Markwayne Mullin joined others this week in criticizing President Biden over his latest release of oil from the nation’s Strategic Petroleum Reserve, a move made just a few weeks before the mid-term elections. In a weekly column to his constituents, the GOP Representative, who is running for U.S. Senate to succeed retiring …
Category: Oil & Gas
Appeals court rules against Oklahoma in fight over social cost of carbon
A St. Louis, Missouri-based Federal Court of Appeals ruled against Oklahoma and a dozen other states who had challenged President Biden’s “social cost of carbon” calculation in determining the environmental impact of greenhouse gas emissions. The 8th U.S. Circuit Court of Appeals upheld the administration’s calculation in the lawsuit in which Oklahoma and other …
Latest big producers include another Ovintiv well in STACK
Already one of the more successful oil and gas companies with its drilling projects in Kingfisher County, Ovintiv Inc. added a fifth well to its most recent major efforts. The Winters 1709 3h-31xx, located at 18 17N 9W, a site in northern Kingfisher County, was completed April 21 of this year with production of 1,823 barrels of …
OK energy stocks made gains while crude prices rose
Oklahoma energy stocks responded Friday to an increase in crude oil prices, making gains as investors hoped for a strong demand from China. Plus, the weakening U.S. dollar outweighed concern of any global economic downturn. Some Oklahoma energy stocks saw gains of 6 and 7%. In the U.S., West Texas Intermediate crude for December …
Reports are mixed on rig counts in Oklahoma and US
Depending on which rig reporting service you read, the nation’s rig count either fell by 14 in the past week or grew by two. Enverus reported a decline of 14 rigs in the last week to a peak of 883 rigs in the week ended Oct. 19. “While the Gulf Coast and Williston Basin …
Retired General moves to another state job
Former Oklahoma Army National Guard Brigadier General Hopper Smith landed another new state job. He’s been named by the Oklahoma Department of Commerce to be its new State Director of Aerospace and Defense. Smith joined the Commerce Department after being named in 2018 as Executive Director of the Oklahoma Workers’ Compensation Commission. He was …
Additional energy headlines
** 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 …
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 …