The environmental group, the Center for Biological Diversity, went to court this week against the federal government, accusing the U.S. Bureau of Land Management of failing to protect shortgrass prairie in Colorado’s Pawnee National Grassland. The Grassland is in the northeast part of Colorado and located 35 miles east of Fort Colllins. It is …
Category: Oil & Gas
Oklahoma tax collections on oil and gas rose in May
Gross production tax revenues on oil and gas for May in Oklahoma increased, according to a report from State Treasurer Todd Russ. “With the last month’s reporting increases, we see leveling across all tax divisions,” stated the treasurer in his report. May Gross Receipts reports an increase with totals equaling $1.3B, up $20.2M, or 1.6% when …
Devon loses federal court challenge of millions in government royalty payments
Devon Energy recently lost an 8-year legal fight with the Interior Department over increased royalty payments the Oklahoma City oil and gas company was to pay for gas production from federal lands in New Mexico. Devon challenged the 2016 order from the Interior Department’s Office of Natural Resources Revenue to pay $2,841,264.58 after the ONRR …
Energy briefs
** Bill Gates and his energy company are starting construction at their Wyoming site for a next-generation nuclear power plant he believes will “revolutionize” how power is generated. Gates was in the tiny community of Kemmerer Monday to break ground on the project. ** The Supreme Court solicited the Biden administration’s views on two lawsuits by the city of …
Monday resulted in a 3% hike for crude oil prices
Buoyed by hopes of rising fuel demand this summer, crude oil prices gained nearly 3% in Monday’s trading and Oklahoma energy stocks did the same. There are also growing expectations that the U.S. Federal Reserve will leave interest rates higher for a longer time. West Texas Intermediate crude went up $2.21 or 2.9% to settle …
Regulator wants Attorney General to rule on constitutional issues affecting Corporation Commission chairman
Oklahoma Corporation Commissioner Bob Anthony wants Attorney General Gentner Drummond to settle once and for all some constitutional questions raised previously against Commissioner Todd Hiett and his directorship at a Tulsa bank and campaign contributions received by former Commissioner Dana Murphy. In a letter to the Attorney General and publicly filed with the …
Chesapeake responds to merger claims made by stockholders
Just as Southwestern Energy revealed that demand letters and complaints had been made by its shareholders regarding the proposed merger with Chesapeake Energy, similar revelations have been made by Chesapeake. And like Southwestern, Chesapeake denies any wrongdoing in its proposed merger. The Oklahoma City energy company, in a filing with the Securities and Exchange …
Energy briefs
** Tesla’s controversial CEO Elon Musk, and his massive wealth, are front and center in a shareholder vote this coming week. Five months after a Delaware judge threw out the largest pay package in history, then worth more than $50 billion, shareholders will vote Thursday on a new pay package. ** New York’s grid operator says the …
Accused of fraud, gas firm punches back at Oklahoma Attorney General
The target of the AG’s fraud suit stemming from that Winter Storm 2021 probe punches back. Plus a controversial bill that opponents say will lessen transparency at the OCC is signed into law. We discuss both topics in depth on this week’s MitchellTalks Energy w/Jerry Bohnen. Click below MitchellTalks Energy w/Jerry Bohnen | The target …
Investors hope for improved crude oil prices
Crude prices in the US managed to nearly hold their own on Friday’s trading while Oklahoma energy stocks suffered losses including some with 6% and 7% drops in the values of their stocks. West Texas Intermediate crude slipped 2 cents on Friday to $75.33 a barrel on the New York Mercantile Exchange. Global benchmark …