Another conflict is developing at the Oklahoma Corporation Commission over those billions of dollars in securitization bonds used by four public utilities to cover their February 2021 winter storm costs. The issue will be raised during the Commission’s Thursday morning meeting during which a review of the ratepayer backed bonds used by the utilities …
Category: Oil & Gas
Record oil and gas tax collections in Oklahoma
State collections from oil and gas production again climbed to record levels in July, only a month after setting an all-time high, State Treasurer Randy McDaniel announced as he released the latest Gross Receipts to the Treasury report. Total collections in July of $1.38 billion are 13.3 percent higher than receipts in July of last …
Feds start air search for emissions violations over Permian Basin
The federal government is launching an investigation of the Permian Basin where many Oklahoma energy companies are active with new drilling and transportation of oil and gas. Helicopters will be used to fly over the basin as the government investigates whether there are violations of government air standards through carbon emissions from those operations …
More headlines
** Automakers want Democratic Senator Joe Manchin to revisit his proposal to restructure the $7,500 electric vehicle tax credit, raising fears it could be largely unworkable because of new sourcing requirements for battery components and critical minerals. ** Fox News anchor Harris Faulkner briefly lost it during a contentious interview with Sen. Joe Manchin (D-WV) on Tuesday, taking strong …
Chesapeake uses strong 2Q to change focus to Haynesville
Chesapeake Energy Corporation reported 2022 second quarter financial and operating results and announced the company is taking actions to solidify its strategic focus on its core Marcellus and Haynesville positions. The company reported net cash provided by operating activities of $909 million and delivered adjusted EBITDAS of $1,269 million and $494 …
Growth reported by Gulfport Energy in 2Q
Gulfport Energy Corporation reported $129.5million in net cash provided by its operating activities and $80.3 million of free cash flow in the second quarter of the year. Total net income was $256.6 million and $204.5 million of adjusted EBITDA. As a result, the Oklahoma City company increased its borrowing base to $1 billion from …
Mammoth Energy sees strong 2Q with more growth expected
As Mammoth Energy Services reported a strong second quarter, the company went from a loss to a gain in its net income. Total revenue was $89.7 million for the second quarter of 2022, as compared to $47.4 million for the same quarter last year and $62.3 million for the first quarter of 2022. …
Record revenues for Tulsa’s Alliance Resource Partners
Coal company Alliance Resource Partners, L.P. based in Tulsa reported a 70% increase in second quarter total revenues, reaching a record $616.5 million. The company said the amount compared to $362.4 million in the second quarter of 2021 as a result of higher coal sales prices and volumes, which rose 43.3% and 13.9%, respectively, and …
Additional headlines
** BP became the latest energy company to announce huge profits on Tuesday (August 2). The company said it made a second quarter profit of just under $8.5 billion – its highest in 14 years. ** A deal has been secured for Congress to pass and President Joe Biden sign a permitting package to speed up the completion …
A 2Q increase in income for ONE Gas
ONE Gas, Inc. reported an increase in its second quarter 2022 net income which totaled $32.1 million or 59 cents a share. The total compared to the $30.1 million and 56 cents a diluted share reported in the second quarter of 2021. The newest quarterly income brought the year to date 2022 net income …
