Data source: U.S. Energy Information Administration, Winter Fuels Outlook In the latest Winter Fuels Outlook from the U.S. Energy Information Administration, the agency says U.S. households that primarily use natural gas for space heating will spend an average of $931 on heating this winter (October–March), which is 28% (or $206) more than last year. Natural gas is the primary …
Category: Oil & Gas
New wells reported in Grady and Kingfisher Counties
Some of the most recent completion reports on file with the Oklahoma Corporation Commission show 5 Hinkle Oil and Gas wells in Kingfisher County and two Continental Resources wells in Grady County. Continental’s two wells, drilled on a single pad located at 17 6N 6W , a site about 3 miles northeast of the town …
Methane sources studied in San Juan Basin
Researchers at the Los Alamos National Laboratory have released results of a study into the sources of a methane hotspot found years ago over the San Juan Basin of northwest New Mexico. This study was published in the journal Geophysical Research: Atmosphere in September and, according to the lab, the research will help …
Other headlines
** The Biden administration plans to sell oil from the Strategic Petroleum Reserve in a bid to dampen fuel prices before next month’s congressional elections, three sources familiar with the matter said on Monday reported Reuters. ** House Homeland Security Committee Chair Bennie Thompson (D-Miss.) and House Oversight Committee Chair Carolyn Maloney (D-N.Y.) requested further information on Mississippi’s use of …
Home Depot leader rips Biden for anti-drilling stance
One of the co-founders of Home Depot, Bernie Marcus, is critical of the Biden administration, claiming 40-year high levels of inflation come down to the President’s decision against oil companies drilling for more oil. “We have a president that just doesn’t believe in that [oil drilling],” Marcus said on a new episode of Yahoo Finance …
Investor not happy with Continental’s agreed takeover by Harold Hamm
The biggest minority investor in Continental Resources says Harold Hamm’s latest offer to take private the Oklahoma City energy company is still too low. It’s what Cole Smead, president of Smead Capital said after Continental announced a merger agreement with Hamm and his family. He was quoted by Bloomberg and Seeking Alpha on Monday …
Crude oil prices slipped while OK energy stocks made gains
Crude oil prices sagged slightly in Monday’s trading while Oklahoma energy stocks had a strong trading day with some making gains of 7% and 8%. Still, fears exist about the high inflation and energy costs and how they might bring down the global economy into a definite recession. Benchmark U.S. crude oil for November …
Harold Hamm to complete his private takeover of Continental Resources
Billionaire Harold Hamm is getting his wish. He and his family are taking back Continental Resources, the company he founded in the late 1960s, and making it privately owned. It’ll cost him $4.3 billion. Continental Resources announced Monday it had entered into an agreement and plan of merger with Omega Acquisition, Inc., a firm …
Vandals hunted for $500,000 in damage to site in Owasso
If it had involved an energy system such as a pipeline, the vandalism that occurred over the weekend to a construction site in Owasso would have involved a new state law. Owasso police say whoever turned over a front-end loader and tore up shipping containers left a trail of damage totaling an estimated $500,000. …
AARP comes out swinging against OGE’s latest rate hike
AARP Oklahoma leaders are fighting the latest rate hike bid by Oklahoma Gas Electric, the third such increase in 2022. In a release on Monday, the organization’s leaders cited the notice that OG&E customers received Oct. 7 when they were informed of an increase to the fuel charge on bills of 7.4% or approximately …
