Writing this week in The Hill, Oklahoma Congresswoman Stephanie Bice made the argument the U.S. cannot continue to withdraw oil from the nation’s Strategic Petroleum Reserve as President Biden has done. She went on to declare that the energy crisis in the country is of Biden’s own making and not that of Russian leader Putin. …
Category: Oil & Gas
Gasoline prices go up again in Oklahoma
Gasoline prices rose in Oklahoma and across the U.S. over the past week with the national average pump price hitting $3.72 while Oklahoma’s average was up to $3.47 per gallon. What’s behind the increase? Refinery issues ranging from planned maintenance to a fire, reported AAA in its latest fuel cost report. “Slack demand and …
Safety board issues report on 2016 Sunoco refinery explosion
The U.S. Chemical Safety and Hazard Investigation Board (CSB) released its final report on the 2016 flash fire and explosion at the Sunoco Nederland, Texas crude oil terminal, which resulted in burn injuries to seven workers. The CSB’s investigation identified deficiencies in the company’s hot work policies and procedures as well as the contractors …
Cushing reports crude storage increase
The latest report from the U.S. Energy Information Administration showed a slight gain in the amount of crude oil in storage at the Cushing hub in Oklahoma. As of Sept. 16, Cushing held 25 million barrels of crude oil. In the previous week as of Sept. 9, the hub held 24.6 million barrels, a …
Supreme Court accepts OKC’s lawsuit against state regulators
Oklahoma City’s lawsuit challenging the Corporation Commission’s approval to let utilities decide if they’ll collect franchise fees as part of billions of dollars in securitization bonds has been formally accepted by the Oklahoma Supreme Court. Chief Justice Richard Darby signed an order accepting the lawsuit that was filed earlier in the month. However, no …
OGE dividend declared
A fourth quarter dividend has been declared by OGE Energy Corp. The company’s Board of Directors announced the dividend was $0.4141 per common share of stock. It will be paid on Oct. 28, 2022 to shareholders of record on Oct. 11, 2022.
Four Ovintiv wells produced 5,500 barrels of oil a day in Kingfisher County
Wait a minute! Ovintiv didn’t have just three wells on a single pad totaling combined production of nearly 4,000 barrels of oil a day in Oklahoma’s Kingfisher County. It was really 4 wells and 5,500 barrels of oil a day in production. A day after filing three completion reports on the wells, the company …
Headlines of other energy stories
** Democrats dropped Sen. Joe Manchin’s proposed energy plan from a must-pass government funding bill on Tuesday after it became clear it lacked the necessary bipartisan support to advance in the Senate. ** Senate Majority Leader Chuck Schumer says he’ll work with Manchin to pass “responsible permitting reform” by the end of the year. ** After decades …
Is Hamm’s buyout offer looking better for Continental Resources shareholders?
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 …
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 …