U.S. crude oil prices on Monday dropped below $90 for the first time in more than a week. What was behind the drop? Reuters attributed the decline to news that China’s July refinery output was the lowest since March 2020 as well as a stronger U.S. dollar and low liquidity pressure prices. West Texas …
Category: Oil & Gas
New Mexico oil and gas group launches fight with EPA over Permian Basin crackdown
The New Mexico Oil and Gas Association has responded to the EPA’s proposed tougher regulations on the Permian Basin where Oklahoma oil and gas companies have major drilling and production operations, with a call to fight the government agency. “The EPA is threatening new regulations that would reduce energy production in the Permian Basin,” …
Carbon capture to get big benefits from Inflation Reduction Act
Whenever President Biden signs the Inflation Reduction Act into law, there will be big benefits for carbon capture projects across the nation. Click here for Time
Annual Linemen’s Expo for OGE resumed this month
Linemen teams from across OG&E’s service area gathered in Oklahoma City on Aug. 6 to compete in the company’s annual Linemen’s Expo. This was the 31st year for the event, after a two-year pause due to health and safety concerns of COVID-19. OG&E linemen kicked off the day with a moving salute to the American …
Increased volumes expected on Keystone pipeline
According to the operator of the Keystone Pipeline that carries oil from Canada to the Cushing hub in Oklahoma, there will be more volumes of crude flowing through the line in the coming months. It already was on the increase in the second quarter as TC Energy said volumes rose from 590,000 b/d to …
Gas prices keep falling—Oklahoma third lowest average nationally
Oklahoma had the nation’s third lowest average for gasoline prices on Monday while the national average fell a dime in the past week to $3.95. Triple A reported the national slip was due primarily to stable oil prices and fewer drivers than usual fueling up. The national average for a gallon of regular gas …
Civeo repurchases $11 million in shares
Canadian-based Civeo Corporation, the man-camp operator with a facility in Oklahoma, announced the repurchase of nearly $11 million in common shares from a shareholder. The deal involves 375,000 common shares representing 2.6% of the fully-diluted common shares outstanding. “Today’s announcement reflects our confidence in Civeo’s business outlook, and this transaction provides an opportunity to …
No lack of other energy headlines
** Some Alaska environmental advocates say the proposed congressional climate bill “causes more harm than good” by requiring oil and gas leasing and incentivizing critical mineral mining. ** Analysts are skeptical of the U.S. mining industry’s ability to produce enough electric vehicle battery minerals to meet deadlines in the proposed congressional climate bill. ** A company proposes using abandoned oil wells to explore …
Act critics say it won’t help reduce inflation and won’t help country’s long-term energy needs
While Democrats and the White House are celebrating their passage of the Inflation Reduction Act, one opposed by every one of Oklahoma’s U.S. Representatives and Senators, the impact on the state’s oil and gas industry and across the U.S. is coming. All it takes is for President Biden to sign it into law. As …
Oil and gas exploration leads to new wells in Oklahoma
From Kingfisher to Garvin to Carter County in Oklahoma, several large producers have been reported by energy companies. Continental Resources Inc. completed a Carter County well with production of 1,099 barrels of oil a day and 160 Mcf of natural gas. Drilled at 6 2S 3W, four miles southwest of Ratliff City, the Catskills 1-1-12xhm was …