Oklahoma City’s Mach Natural Resources LP announced its financial and operating results for the year ended December 31 of 2023, showing total revenues of $762 million and net income of $347 million. As a result, the company intends to stick with its guidance for the remainder of the year. The report comes months after …
The Independent Petroleum Association of New Mexico is being allowed to intervene in a lawsuit brought by environmentalists who contend the state has failed its duties to protect residents from oil and gas pollution. A state district court judge recently ruled the Association can intervene because the industry could be directly affected by the …
** One major beneficiary of sanctions on Russian and Venezuelan oil? US suppliers who’ve muscled their way into markets once dominated by OPEC and its allies. US oil exports have set five new monthly records since Western nations began imposing sanctions on Russia in 2022. And with trade restrictions on Venezuela set to renew in …
** Maryland Gov. Wes Moore warned of a “very long road ahead” to recover from the loss of Baltimore’s Francis Scott Key Bridge as the Biden administration approved $60 million in immediate federal aid after the deadly collapse. ** A Michigan facility will become the first shuttered nuclear plant in the country to resume energy generation, a …
Colorado’s legislative effort to ban all new oil and gas drilling after 2030 didn’t work. It’s failed in a Senate committee following a lengthy hearing. Senate Bill 159 would have required state oil and gas regulators to stop issuing new drilling permits starting in 2030, with those permits to be used by 2032. …
A dollar-a-barrel jump in crude oil prices on Thursday came aftr OPEC+ indicated it would continue with production cuts. But adding to the increase were continued attacks on Russia’s oil refineries and a drop in the U.S. rig count. It also led to gains for Oklahoma energy stocks. West Texas Intermediate crude, considered the …
Oklahoma’s latest earthquake that was actually felt by nearby residents occurred Thursday morning at a site several miles east of Edmond. Measuring 3.1 magnitude, according to the U.S. Geological Survey, the quake’s epicenter was about 5 miles from Edmond with a depth of nearly 4 miles. It was recorded around 10 a.m. It was …
Mewbourne Oil Company President and CEO Kenneth Waits has added another step in his list of appointments. He’s been named to the University of Oklahoma Board of Regents by Gov. Kevin Stitt. A graduate of OU, Waits has been a big supporter of the university and the energy company he leads helped with contributions …
Vital Energy, Inc., in Tulsa reported it had received more than $628 million in cash tender offers for a series of senior notes made available some weeks ago. Based on information provided by the Global Bondholder Services Corporation, Vital said that as of 5 p.m. on March 27, it had received tenders of $431,150,000 for …
As Okahoma’s rig count held steady in the past week,the number of active oil and gas rigs across the U.S. dropped by 3 to 621, reported Baker Hughes Co. in a release on Thursday. Oklahoma remained steady at 44 rigs but was still below the 59 reported by Baker Hughes a year ago. The …
