Residents of the San Juan Basin located in northwestern New Mexico are among those clamoring for the state and others to do something about the large number of abandoned oil and gas wells that dot the landscape. The Albuquerque Journal reported that complicating the matter is how the land is made up of private, …
Category: Oil & Gas
Corporation Commissioners get an earful from OGE customers about utility’s $332 million rate hike request
While school administrators, economic development directors, and city representatives recently lined up to support OG&E’s $332 million rate hike request, citing the utility as “responsible and reliable,” the on-line comments sent to Oklahoma Corporation Commissioners are a different story. Many comments listed at the Corporation Commission indicated direct opposition by residential customers, many …
ONE Gas annual meeting results announced
ONE Gas revealed results of its recent May 23 shareholders meeting, indicating the size of the company’s Board of Directors was reduced from nine to seven. The reduction came as a result of the retirement of directors Robert B. Evans and Douglas H. Yaeger immediately lprior to the annual meeting. The remaining directors, …
Energy briefs
** The Department of Energy’s “moonshot factory” has announced $150 million in funding to transform the American energy system from the ground up. ARPA-E, the research and development arm of the Energy Department, is looking for “open and audacious ideas” that help to build out “this vision of the energy landscape that doesn’t [yet] exist,” …
Weak US gasoline demand results in tumbling crude oil prices
After climbing 2% on Tuesday, crude oil prices dropped 1% Wednesday, thanks to continued anxiety over weak U.S. gasoline demand. Plus, there was economic data that might spur the Federal Reserve to keep interest rates higher for longer. It also proved to be a weak trading day for Oklahoma energy stocks. West Texas Intermediate crude …
Vital Energy shares results of annual shareholders meeting
Results of Vital Energy’s recent annual shareholders meeting were revealed this week in a filing with the Securities and Exchange Commission. Shareholders approved the election of three directors, Jarvis V. Hollingsworth, Lisa M.Lambert and Lori A. Lancaster. They also voted to appoint Ernst & Young as the company’s independent registered public accounting firm for the …
Stock conversion plan announced by Vital Energy
Vital Energy, Inc. announced a plan to convert some of its Series A Preferred stock into common stock in the Oklahoma City company. The announcement pertained to all outstanding shares of Vital’s 2.0% Cumulative Mandatorily Convertible Series A Preferred Stock,par value $0.01 per share. They will be onverted into shares of the firm’s common stock, …
Results of annual shareholders meeting announced by Gulfport Energy
No surprises came out of the recent annual meeting of stockholders in Gulfport Energy Corporation in Oklahoma City. Results of the elections were announced this week indicating that shareholders elected the slate of directors. Timothy J. Cutt, David Wolf, Jason Martinez, Jeannie Powers, David Reganato, John Reinhart and Mary Shafer-Malicki were elected to serve …
State budget agreement includes $50 million oil and gas tax rebate program
Oklahoma’s oil and gas industry came out a winner in the recent budget deal announced by legislative leaders. The agreement included $50 million for a tax rebate program for methane-reduction equipment upgrades. The Oklahoma Tax Commission will administer a revolving fund and allow companies to claim up to 25% of their costs to …
ConocoPhillips takes over Marathon Oil in $22.5 billion deal
ConocoPhillips is still betting on the production of oil and gas as the company that had its origins in Oklahoma announced Wednesday it is acquiring Marathon Oil Corporation in a more than $22 billion deal. Now headquartered in Houston, the company describedthe deal as an all-stock transaction with an enterprise value of $22.5 …