ConocoPhillips announced that it has applied to the Alberta Securities Commission (ASC), as principal regulator, and the Ontario Securities Commission (OSC) for a joint order (the Order Sought) to cease to be a reporting issuer in all jurisdictions of Canada in which it is a reporting issuer. If the Order Sought is granted …
Category: Oil & Gas
3Q financial results to be released by Helmerich and Payne
Coming off a second quarter where it completed a major $2 billion acquisition for its long-term international growth, Tulsa-based Helmerich & Payne plans a release of its third quarter financial results in the coming few weeks. The firm will release the financial results on Thursday, August 7 and hold a conference call at …
Energy briefs
** President Trump’s administration delivered a long-overdue blow to California’s high-speed rail project. Federal funding—$4 billion in unspent grants—has been yanked, halting what critics say is a boondoggle that has devoured billions while delivering broken promises. ** Rep. Bob Latta (R-Ohio), a powerful figure in U.S. energy policy as chair of the House Energy and …
Nation sees gain in rigs but the increased numbers were gas rigs, not oil
The U.S. saw a jump in oil and gas rig activity in the past week and it was attributed to more drilling for natural gas as prices continued to climb. At the same time, Oklahoma’s rig activity remained unchanged. The nation’s rig count, according to Baker Hughes in its Rig Count released on …
Well plugging effort underway by Osage Nation
The Osage Nation, the tribe in total control of oil and gas well drilling in Oklahoma’s Osage County, is in the process of plugging an estimated 1,600 abandoned wells in the county. But the figure could be much higher for the 12-person crew tasked with the job. A report by Osage News delved …
Growing power demand in Texas and New Mexico prompts Xcel Energy to initiate 17 new power projects
Xcel Energy has announced new generation resource additions as part of an overall portfolio to meet the rapidly rising energy needs of its Texas and New Mexico service area. The portfolio includes extensions of 521 megawatts of existing generation as well as the addition of 17 new power projects that will add 5,168 …
Crude oil prices slipped on Friday approaching non-profitable territory for oil producers
With at least one energy expert saying crude oil prices are dangerously close to no longer being profitable for oil producers, crude oil prices closed down on Friday. The expert, Dwight Scott, executive vice chairmanof Quantum Capital Group made the remarks in an interview with Bloomberg TV, reported Business Insider. Brent crude, the …
Interior announces cuts in red tape in well plugging effort
The Department of the Interior has updated its guidelines for states applying to federal programs aimed at cleaning up abandoned oil and gas wells. The revised guidance updates two federal grant programs, the $780 million Orphaned Wells State Matching Grant Program and the $1.93 billion Orphaned Wells State Formula Grant Program. The changes are meant …
$11 billion Amarillo energy project part of Trump’s big energy plans
President Trump’s recent announcement at the Pennsylvania Energy and Innovation Summit, of nearly $90 billion in new energy investments emphasized not only the importance of the state’s natural gas production, but also included the recently announced $11 billion nuclear and data center near Amarillo, Texas. We’ve highlighted what Fermi America, co-founded by former …
Energy briefs
** Chevron Corporation (NYSE: CVX) announced that it has completed its acquisition of Hess Corporation (NYSE: HES) following the satisfaction of all necessary closing conditions, including a favorable arbitration outcome regarding Hess’ offshore Guyana asset. ** The US energy industry’s long nuclear winter may finally be giving way to spring. None other than Westinghouse, the …