For a third straight day in the trading week, oil futures dropped as worries about rising interest rates and a recession continued fueling the concern of investors. Oklahoma energy stocks had the same kind of day. West Texas Intermediate crude for November delivery suffered a drop of $2.08 per barrel or 2.33% to settle …
Category: Oil & Gas
Regulators say OKC’s lawsuit over franchise fees and winter storm bonds is wrong
The Oklahoma Corporation Commission responded this week to a constitutional challenge by Oklahoma City of the Commission’s decision that puts millions of dollars in franchise payments from utilities up in the air. In a filing with the State Supreme Court, Corporation Commission attorneys defended the decision that came as part of winterization bonds under …
Higher home-heating bills expected this winter
If you’re still wondering about your upcoming home heating expenses in the approaching colder weather, the U.S. Energy Information Administration has the answer. You can expect to pay more! The EIA came out Wednesday with its Winter Fuels Outlook which follows: In our Winter Fuels Outlook, we forecast that average household expenditures for …
Williams 3Q report coming soon
Williams plans to announce its third-quarter 2022 financial results after the market closes on Monday, Oct. 31, 2022. The Tulsa-based company’s third-quarter 2022 earnings conference call and webcast with analysts and investors is scheduled for Tuesday, Nov. 1, 2022, at 9:30 a.m. Eastern Time (8:30 a.m. Central Time). A webcast link to the conference …
Devon acquisition among top 3Q deals
A summary of third-quarter upstream merger and acquisition activity released by Enverus Intelligence Research shows Devon Energy’s recent $1.8 billion acquisition in South Texas was one of the largest of the quarter. The release by Enverus showed upstream deals in the U.S. reached more than $16 billion in transacted value during the quarter for …
Proposed new crude oil refinery considered at Cushing
Already the home of the well-known Cushing Hub, the city of Cushing is in the running for a proposed $5.5 billion crude oil refinery planned by Prairie Energy Partners, a wholly owned Texas company of Southern Rock Energy Partners. The other possible site for the project, one that is close to being …
Land Commissioner race results in fight over leases to oil and gas industry
New Mexico’s political race for commissioner of public lands has turned into a debate over how much state land should be used for more oil and gas development—drilling that has sent huge sums of revenue into the state treasury. The amount of land leases for oil and gas drilling under the administration of Democratic …
Headlines of other energy stories
** President Joe Biden warned Tuesday that Saudi Arabia would face “consequences” after OPEC+ last week announced the biggest cut in oil production since the start of the coronavirus pandemic. ** As the Biden administration launches its historic Inflation Reduction Act, there’s a warning the U.S. will need twice as many electricians to carry out some of …
EPA sued over coal-fired power plants in Texas
The Environmental Protection Agency was sued this week by two environmental groups over its administration of eight coal-fired power plants in Texas, including one from which power is obtained by Public Service Company of Oklahoma. The lawsuit by the Sierra Club and Environmental Integrity Project comes after the EPA allowed the Texas Commission on …
California pig law challenge followed closely by energy industry
Arguments against a new California humane-pork law, one that has attracted the interests of the oil and gas industry, were heard this week by U.S. Supreme Court justices. Their questions about the challenge revealed how some of the justices might have concerns about states imposing their moral values beyond their borders reported Bloomberg. The …