Harvard might soon lose its holding as the nation’s richest university, an honor that could go to the University of Texas. Thanks to oil and gas. UT’s holdings of crude and natural gas in the Permian Basin and other shale-rich areas will soon put it in the lane to overtake Harvard University as the …
Category: Oil & Gas
Saltwater spill in North Dakota under investigation
A saltwater spill in North Dakota’s oilfields is bein investigated by the state’s Department of Environmental Quality, a spill that could take more than a year to clean up. The Associated Press said the spill happened when a pipeline owned by New York-based Hess Corp. broke near the town of Ray and leaked enough …
Headlines of more energy stories
** About 3,000 white-collar workers at Ford Motor Co. will lose their jobs as the company cuts costs to help make the long transition from internal combustion vehicles to those powered by batteries. ** In the U.S. Lower 48 states, electric power generated by natural gas-fired power plants reached 6.37 million megawatthours on July 21, 2022, according …
Judge says Venezuela owes nearly $9 billion to Conoco Phillips
ConocoPhillips came away with a recent court victory in which a federal judge in Washington, D.C. ruled the company was due nearly $9 billion from Venezuela after the company seized its interests in oil projects. But will ConocoPhillips ever be able to collect? That’s the looming question following Friday’s ruling by U.S. District Judge …
Austin firm announces 2nd major acquisition in Permian Basin
Brigham Minerals, a Texas company with operation underway in the Anadarko Basin of Oklahoma announced Monday it made yet another acquisition in the Permian Basin. The Austin-based company said it acquired nearly 3,900 net acres from Avant Natural Resources, LLC of Denver in a $132.5 million agreement. The land in question is in the …
Oil and gas industry can thank Colorado Senator for elimination of leasing practice
It was Colorado U.S. Sen John Hickenlooper who was responsible in part for ending a federal-lands leasing practice heavily criticized by the Biden administration and other Democrats. Hickenlooper sponsored the bill that was included in the Inflation Reduction Act. It ends part of a federal-land leasing law that allowed oil and gas companies to …
Regulators to review rate hike for Empire District Electric Company
Oklahoma Corporation Commissioners will take part Tuesday in an Administrative Law Judge’s hearing on a possible rate hike requested by Empire District Electric Company. A joint stipulation and agreement has already been reached but not approved by Commissioners during which Empire Electric would be allowed an annual base rate increase of $5,100,000. Liberty filed …
Iranian nuclear talk weakens crude oil prices
Saudi Arabia’s warning that OPEC+ production might cut output if a nuclear deal is reached with Iran sent crude oil prices struggling on Monday. OPEC+ leaders fear such a deal being pushed by the Biden will result in Iran being allowed to put more of its oil on the world market. West Texas Intermediate …
Regulator says recent franchise tax vote kicked the can down the road
Oklahoma Corporation Commissioner Bob Anthony on Monday filed his dissenting opinion in the commission’s continuing support of millions of dollars in ratepayer-backed winter storm bonds which will be supported by OGE customers for the next 28 years. The Commission voted 2-1 last week in a meeting that lasted less than 4-minutes in support of …
Headlines of energy stories in US and world
**Energy Secretary Jennifer Granholm faced criticism on social media Sunday after she said Americans being crushed by the weight of inflation can lower their energy costs by installing solar panels at a 30% discount under the Inflation Reduction Act. ** The Biden administration is expected to unveil a series of executive actions aimed at regulating emissions from …