Three months after billionaire Harold Hamm offered $70 a share to take his Continental Resources company private, the offer is looking better and better. Shares in the Oklahoma City company managed a 1.68% gain or $1.05 on Tuesday to finish trading at $63.70 a share. Shortly after Hamm made his original offer, one valued …
Category: Oil & Gas
Crude oil prices rebounded along with Oklahoma energy stocks
Up one day, down the next seems to be the pattern of crude oil prices. On Tuesday, they finished the day up $2 from a nine-month low, mostly because of supply curbs ahead of Hurricane Ian in the U.S. Oklahoma energy stocks rebounded as well. West Texas Intermediate crude for November delivery finished up …
GOP runoff loser in Texas Railroad Commission race endorses Democrat
So much for party loyalty. In Texas, oil and gas attorney Sarah Stogner, the woman who forced a runoff in the Republican primary for the Texas Railroad Commission came out this week in support of the Democrat in the race rather than her formal rival, Wayne Christian. She announced her endorsement of Luke Warford who …
Senator accuses Biden of political abuse of Strategic Petroleum Reserve
One of Oklahoma Sen. James Lankford’s colleagues on the Senate Energy and Natural Resources committee, Sen. John Barrasso of Wyoming accused President Biden of politically abusing the nation’s Strategic Petroleum Reserve. “Instead of unleashing more American energy, President Biden uses America’s emergency reserves to solve a short-term political problem,” said the Republican Senator in …
Oklahoma’s gasoline tax is below national average
Ever wonder how Oklahoma’s gasoline tax stacks up against other states? The U.S. Energy Information Administration released its newest update of Federal and state motor fuels taxes table showing state gasoline taxes ranged from as low as 8.95 cents per gallon (/gal) in Alaska to as high as 65.1 cents/gal in California on July 1, …
Other energy headlines
** While US gasoline prices have come down from the highs seen this summer, they’re clearly still weighing on President Joe Biden, who on Monday repeated demands for oil companies to charge less. ** VAALCO Energy, Inc. in Houston announced that the Government of Equatorial Guinea has approved the Venus – Block P Plan of Development …
Ovintiv keeps finding major producing wells in Kingfisher County
Ovintiv USA Inc., the company with a growing reputation of finding big producing wells in Oklahoma’s STACK play did it again. It recently filed completion reports on three wells drilled on a single pad with combined production approaching nearly 4,000 barrels of oil a day. Natural gas production from the Rosia wells in northern …
New Mexico’s hydrogen economy gets a shot in the arm from federal money
New Mexico’s hydrogen economy is getting a boost from federal incentives which in turn leaves Albuquerque-based BayoTech leaders with expectations of building half a dozen hydrogen hubs in the coming year. The Albuquerque Journal reports that the 7-year old company will make its first major effort to enter commercial markets with its compact mobile …
Nine-month low hit by falling crude oil prices while losses hit OK energy stocks
Crude oil prices took a $2 drop on Monday and settled at nine-month lows while Oklahoma energy stocks recorded losses—some as much as 7%. The strengthening dollar put more pressure on the market as investors await details of new sanctions on Russia. West Texas Intermediate for November delivery fell $2.06 or 2.3% to settle …
Latest in court fight between Continental Resources and Perpetual Production
The federal court legal fight between Continental Resources and Perpetual Production took another step in recent days. Perpetual refiled a petition asking an Oklahoma City federal judge to order Continental to pay for trespassing at Perpetual’s offices according to a report by The Oklahoman. Click here for The Oklahoman
