With natural gas prices near 14-year highs, shale producers in Oklahoma, Texas, New Mexico and elsewhere across the U.S. jumped on the bandwagon to take advantage. Years after flaring of excess natural gas was the norm, now those companies are getting an earnings bonanza reported Reuters. Click here for Reuters
Category: Oil & Gas
Crude oil makes big drop while OK energy stocks suffered on Tuesday
A day after crude oil prices managed a robust increase, they plunged by nearly $6 a barrel in Tuesday’s trading on growing worries that central banks will hike rates to fight increasing inflation. Plus, there is the concern over unrest in Iraq. It all took effect on Oklahoma energy stocks as they fell from …
Trump’s “I told you so” warning about energy dependency on Russia
At the time President Donald Trump went public in 2018 with his criticism of Germany being too energy dependent on Russia and its natural gas, it drew smirks from Germany’s leaders. Remember those pictures of German officials sitting at the 2018 U-N General Assembly during a Trump speech and how they laughed and smirked …
Share repurchase renewed by Civeo
Oilfield man-camp operator Civeo Corporation announced that its Board of Directors has renewed its share repurchase authorization for the Company to repurchase up to 5% of its total common shares outstanding through the facilities of the New York Stock Civeo intends to fund repurchases through cash on hand and cash generated from operations. In …
New well in Oklahoma’s Stephens County
A southern Oklahoma well produced nearly 1,000 barrels of oi a day when it was completed earlier this year. A completion report filed by Black Mesa Energy LLC of Tulsa was on a Stephens County well, 36 1S 4W , located east of the town of Alma. The Rangers 36-25-1s-4w Sxh 1, spudded in December 2021 was …
Southwest Power Pool announces additional commitments to western market development
More utilities in the western part of the nation are interested in being served by the Southwest Power Pool of which Oklahoma is a member. Southwest Power Pool (SPP) announced six additional entities have expressed interest in participating in the next phase of Markets+ development. Avista Corp., Chelan County Public Utility District, Grant County …
Commissioner raises new allegations over bonds used by utilities to cover storm costs
Oklahoma Corporation Commissioner Bob Anthony continued his criticism this week of the ratepayer-backed bonds being used by Oklahoma Natural Gas to cover its February 2021 Winter Storm costs. He also raised new allegations against the Oklahoma Development Finance Authority in issuing bonds for the utilities that used them to cover those costs. In a …
Report claims Texas is losing millions over its ban against some investment firms
A recent move by the state of Texas to no longer do state business with 10 financial firms that ban investments in fossil fuels is reportedly costing the state hundreds of millions of dollars this year. That’s what National Public Radio reported this week. Click here for NPR
Additional headlines of energy stories
** The Environmental Protection Agency (EPA) has issued notices to 15 states for failure to submit plans for air pollution reduction, four months after a lawsuit on the matter from a coalition of environmental groups. The states receiving notices are Alabama, Illinois, Iowa, Kentucky, Louisiana, Maine, Minnesota, Mississippi, Missouri, Nebraska, New Mexico, Pennsylvania, Rhode Island, Vermont, and …
Crude oil made more gains in Monday’s trading and OK energy stocks were up the upside too
Crude oil prices started the week with a 4% gain as there still loomed the prospects of OPEC+ output cuts. Investors were also concerned about the conflict in Libya. Oklahoma energy stocks recorded mild gains for the day. West Texas Intermediate crude for October delivery shot up $3.95 a barrel to settle at $97.01, …