Another exchange of attacks occurred between Russia and Ukraine. It led to higher oil prices. Russia attacked with missiles and drones overnight Thursday and Ukraine responded with drone attacks on two Russian oil refineries. President Trump was unhappy about it Thursday and as a result crude oil prices rose. West Texas Intermediate went …
Category: Oil & Gas
Regulator worried about growing number of rate cases before Corporation Commission
The looming growth of anticipated rate cases combined with a staff shortage at the Oklahoma Corporation Commission’s Public Utilities Division has at least one regulator concerned. “It’s very concerning to me,” remarked Commissioner Todd Hiett during a Wednesday afternoon meeting, as he referred to a shortage of at least four employees in the …
Empire Petroleum’s Rights Offering generated $2.5 million
Empire Petroleum Corporation raised $2.5 million from its recent rights offering, stating that the offer was “fully subscribed.” The offering closed on August 20 and according to a recent company announcement, received subscriptions for more than 100% of the securities available in the Rights Offering. The Rights Offering generated approximately $2.5 million in …
What Crescent Energy’s acquisition of Vital Energy will mean
Crescent Energy’s acquistion of Tulsa-based Vital Energy this week created a company with a combined value of $9 billion. The $3.1 billion all-stock deal was announced Sunday as Cresent, based in Houston, Texas, will expand operations and holdings in the Permian Basin and other areas of the country. “The combined company will …
Energy briefs
** The Transportation Security Administration announced the implementation of the One Stop Security Congressionally authorized pilot, which will drastically simplify international travel for passengers flying to the United States. One Stop Security enables passengers arriving in the U.S. from certain foreign airports with connecting flights to be exempt from rescreening by TSA. ** Wyoming has passed Texas …
Harold Hamm keeps it in the family as he names his daughter to a new leadership role
Another executive change at Continental Resources in Oklahoma City but it’s a move to keep it all in the family for founder Harold Hamm. As Hamm is stepping into the role of chairman emeritus, his daughter, Shelly Lambertz has taken over as executive board chair at the energy company. Lambertz has been with …
Crude oil prices and OK energy stocks gained on Wednesday
Crude oil stocks across the U.S. dropped higher than analysts predicted and it led to a more than 1% jump in crude oil prices on Wednesday. At the same time, the drop in U.S. crude inventories came as investors considered the potential impact from new U.S. tariffs on India because of its purchases of …
Cushing and US crude stocks dropped in recent reporting period
Crude oil supplies held at Oklahoma’s Cushing Hub fell 900,000 barrels this month, according to the U.S. Energy Information Administration. The decline was from 420.7 million for the week ending August 15 to 418.3 million barrels the week ending August 22. The drop was even greater when compared to a year ago when the …
Secret energy talks held between the US and Russia
A report by Reuters says American and Russian officials got together in August and discussed several energy deals. The talks came during a visit by US Special Envoy Steve Wtikoff to Moscow where he met with Russianleader Vladimir Putin and his representative Kirill Dmitriev. There were also discussions at the White House involving …
OGE is after higher rates—says it’s to meet growing electricity demand
Oklahoma Gas and Electric wants to raise rates—again. And it’s because of growing demand for electrical power. Customers recently received a notification, along with their monthly bills. In it, they were informed of the utility’s request of Oklahoma Corporation Commissioners for approval to build two additional nautural gas combustion power generation units at its …