Oklahoma City’s LSB Industries, Inc. announced that it priced its previously announced offering of $500 million in aggregate principal amount of senior secured notes due 2028 which will be sold in a private placement to eligible purchasers. The notes will be guaranteed on a senior secured basis by all of LSB’s existing subsidiaries …
Category: Oil & Gas
Crude prices slip for 2nd day leaving Oklahoma energy stocks jumbled
For a second straight day, crude oil prices dropped in the U.S. as U.S. crude inventories rose more than expected. It left Oklahoma energy stocks mixed…some rose and some reported losses. Crude stockpiles went up by 4.6 million barrels last week causing West Tuesday Intermediate crude for November delivery to slide down 46 cents …
Historic oil storage tanks removed from Oklahoma Capitol grounds
After nearly 8 decades of sitting next to the historic oil derrick on the grounds of the Oklahoma State Capitol, three oil storage tanks have been removed courtesy of the Oklahoma Energy Resources Board and Phillips 66 Company. For 79 years, the historic oil and natural gas artifact had been located near the South …
Legislator cautions promotion of wind and solar without natural gas is a mistake
“The blind promotion of intermittent sources such as wind and solar without natural gas to support for reliability is plainly shortsighted.” It’s what State Rep. Mark McBride writes in an op-ed piece in The Oklahoman this week. He’s a supporter of natural gas calling it a “cleaner, smarter option.” Click here for The Oklahoman.
Texas oil production slowed in 3Q says Dallas Federal Reserve Bank
Solid oil and gas sector growth continued in third quarter 2021, according to oil and gas executives responding to the Dallas Fed Energy Survey. The business activity index—the survey’s broadest measure of conditions facing Eleventh District energy firms—remained elevated but moved down from 53.0 in the second quarter to 44.3 in the third quarter. …
Energy news in brief
** Enbridge Inc said on Wednesday its Line 3 pipeline would be operational from Oct. 1, marking the completion of a long-delayed replacement project that would increase the capacity of crude deliveries from Canada to U.S. refineries. ** ConocoPhillips is offering to sell about $500 million in conventional oil and gas properties in the top U.S. oil …
Samsung to build new chip plant in Austin?
For more than a year, the U.S. has struggled with the impact of the shortage of semiconductor chips. We’ve heard those stories of thousands of new pickup trucks sitting in parking lots of manufacturers because they lacked the necessary chips to be sold. Now there’s word that Samsung Electronics Co Ltd might be close …
EV plant to be located in Arlington, Texas
Arlington, Texas is going to be the apparent home for a global electric vehicle charging manufacturing plant. City leaders granted Barcelona-based company Wallbox incentives to build a 129,000 square-foot plant where 250 jobs will be created over the next 10 years reported the Fort Worth Star-Telegram. Click here for Star-Telegram.
Custer County the site of a 2nd large gas well by Continental Resources
Newly filed completion reports show Continental Resources brought in yet another large natural gas well in western Oklahoma while also completing four wells on a single pad in Grady County. The gas well is in Custer County where the Swartzendruber 2-22-15xhm is located at 27 14N 14W a site north of Weatherford and south of the town …
Whiting finalizes acquisition and divestiture of some holdings
Whiting Petroleum in Colorado said this week it has wrapped up its previously-announced acquisition of leasehold interests and related assets in the Williston Basin of North Dakota. The company also stated that it concluded the divestiture of its Redtail leasehold interests including associated midstream assets in the Denver-Julesburg Basin of Colorado. The transactions had …