** The Biden administration on Tuesday announced new guidelines for ensuring the integrity of carbon credits or offsets. Individuals, businesses and other entities can buy these credits to try to “offset” their emissions as part of an effort to achieve net-zero. This can entail things like paying organizations toplant trees or prevent them from being cut down. ** ConocoPhillips …
Category: Oil & Gas
US crude prices soared by nearly 3% in Tuesday’s trading
Not only did crude oil prices jump more than $2 a barrel or nearly 3% in Tuesday’s trading but Oklahoma energy stocks gained as well with a few seeing 6% and 7% boosts for the day. Crude prices rose on an anticipation that OPEC+ will maintain crude supply restrictions when members meet June 2. The …
Retiree wants Judge’s suspension of Oklahoma energy Act to be permanent
The Judge who suspended Oklahoma’s enforcement of its Energy Discrimination Elimination Act, the measure enacted two years ago to protect the oil and gas industry from discriminating financial firms, is now being asked to offer a victory to the state retiree who filed suit and challenged its constitutionality. The attorney for state retiree Don …
Attorney General says 5 states created “wasteful litigation” over climate change laws
Attorney General Gentner Drummond finally offered comments over the legal action he took last week in going to the U.S. Supreme Court in a challenge of the climate litigation against the oil and gas industry undertaken by California, Connecticut, Minnesota, New Jersey and Rhode Island. He accused the states of trying to dictate America’s energy …
Higher fuel costs approved for Fort Cobb Fuel Authority
by Mike Ray Southwest Ledger The state Corporation Commission approved Fort Cobb Fuel Authority’s fuel adjustment clause for calendar year 2022 even though it was significantly higher than the amounts charged by three other natural-gas providers in Oklahoma. In calendar year 2023 the average utility price per thousand cubic feet (Mcf) of natural …
Corporation Commissioners want to hear more about Summit Utilities’ planned hydrogen plant
Summit Utilities, the company that recently revealed plans to build a green hydrogen production plant in Cushing, just dodged a bullet at the Oklahoma Corporation Commission. Summit challenged a Commission Administrative Law Judge’s recommendation as well as opposition from the Commission’s Public Utility Division to allow the firm to proceed without competitive bidding to …
Predicted hurricane season to affect oil and gas production and prices
Meteorologists are forecasting a particularly intense Atlantic hurricane season this year; they expect 20–25 named storms with a possibility of 30 or more, according to reports from AccuWeather in April. Colorado State University similarly forecasts an estimated 23 named storms this year. The potential for a stronger hurricane season suggests heightened risk for weather-related production outages in the …
Colorado’s oil and gas industry to come under intense methane scrutiny
Oil and gas operators in Colorado are coming under more scrutiny, thanks to what is described as a first-in-the-nation methane intensity rule. It means air regulators will begin patrolling the oil patches and the skies over them to look for how much methane is coming from the wells, tanks and pipelines. Under the …
Energy Transfer grows stronger with $3.25 billion acquisition in Permian Basin
The growing national natural gas pipeline system of Energy Transfer just became larger as the Dallas company reached a $3.25 billion deal to aquire the processing network of WTG Midstream, LLC in the Permian Basin. The deal came just three years after the company did the same kind of expansion in the acquisition of …
Mach Natural extends dividend payment time
Changes over dividend payments are being made at Mach Natural Resources LP. A recent filing with the Securities and Exchange Commission show the Oklahoma City energy company took steps to make the dividend or quarterly cash distributions to unitholders from 60 days after the end of each quarter to 90 days. As the filing …