Tulsa’s Unit Corporation unveiled its first quarter financial report this week showing a major drop in net income. The company plunged from $134.7 million or $13.75 per diluted share a year ago to $16.1 million or $1.61 a share at the end of the first quarter on March 31, 2024. Total revenues for the …
The Biden administration stated it is willing to pay nearly $80 a barrel for crude oil as it struggles to refill the nation’s Petroleum Strategic Reserve, the one depleted as the President used oil as a political pawn to bring down gasoline prices two years ago. Bloomberg reported the new price was revealed in …
** Senate Energy Committee Chair Joe Manchin (D-W.Va.) on Wednesday joined Sen. Dan Sullivan (R-Alaska) and Rep. Garret Graves (R-La.) to announce a Congressional Review Act (CRA) resolution to overturn the Biden administration’s new rules on energy permitting, following a pledge Manchin made last week. ** Walmart Inc. now has one Tesla semi-truck on the …
A Norway company has reached agreement to become part-owner of a lithium extraction company located in El Dorado, Arkansas where it is hoping to take advantage of the electric vehicle battery developments. Standard Lithium Ltd. announced the new partnership is with publicly traded Equinor ASA. As Arkansas Business reported, the deal with the …
The suspension of a state law intended to protect the state’s oil and gas industry from financial firms implementing climate change policies drew support from the Oklahoma Rural Association. Reacting to the ruling by Oklahoma County District Judge Sheila Stinson, the Rural Association praised the decision that suspended the state Treasurer’s enforcement of …
As US crude inventories fell by 1.4 million barrels last week, it resulted in a slight gain in crude oil prices on Wednesday. At the same time, it was an indication that U.S. refiners are ramping up output ahead of the summer driving season. West Texas Intermediate crude finished up 61 cents or 0.8% to …
A spokesman for Oklahoma Treasurer Todd Russ indicated the Treasurer will appeal an Oklahoma County District Court Judge’s decision suspending enforcement of the state’s two-year old law boycotting financial companies that discriminate against the oil and gas industry. Jordan Harvey, chief of staff for the Treasurer, told Mike Ray of the Southwest Ledger there …
While the nation saw a slight decline in its crude oil stocks, such was not the case at Oklahoma’s Cushing hub where there was an increase of nearly 2 millon barrels of oil. The U.S. Energy Information Administration reported Wednesday the nation’s crude stocks dropped from 460.9 million barrels recorded on April 26 …
ExxonMobil’s $64.5 billion buyout of Pioneer Natural Resources is a done deal. The large acquisition, first announced in October of last year, was finalized this past week. The move constituted a marriage of two of the largest fossil fuel companies active in the Permian Basin. Together, they operate on 1.4 million acres across …
A proposed rule that would open the door in New Mexico to reusing treated oil and gas wastewater has been met with protesters at the state capitol in Santa Fe. State regulators plan to vote on the controversial proposed regulations but already environmental groups gathered in opposition. They’re upset with plans by the New …
