** A top EOG Resources executive agrees U.S. shale oil production has likely peaked and is now in decline., reported Hart Energy. “I think U.S. shale oil has definitely slowed, there’s no doubt about it,” EOG COO Jeff Leitzell said June 24 in response to a question about peak U.S. oil at the JPMorgan Energy, Power, …
Category: Oil & Gas
Energy Secretary and Congressman say it’s time to end green energy subsidies
Oklahoma Energy Secretary Jeff Starling joined Republican Congressman Josh Brecheen in a recent Washington Examiner opinion piece citing their opposition to any more green energy subsidies. They might be getting their wish after the Senate voted Saturday night on proposed changes to end the subsidies. Entitled “Senate should stop funding failure, repeal green …
What state regulators discussed behind closed doors
In their latest meeting at which the public was not invited, Oklahoma Corporation Commissioners discussed a possible interim study relating to oil and gas. Commissioners met behind closed doors on the afternoon of June 25 and huddled for more than one hour in a conference room of the Will Rogers Memorial Office buildiing …
Crude oil closed higher on Friday
Crude oil prices finished higher on Friday after climbing back from a drop following reports that OPEC+ had planned to increase production in August. The report indicated OPEC+ planned to boost production by 411,000 barrels a day in August. West Texas Intermediate crude finished up 28 cents or 0.4% to close at $65.52 …
More losses of active oil and gas rigs across the U.S. and Oklahoma
The nation’s number of oil and gas rigs actively in pursuit of more energy resources declined even more in the past week and Oklahoma followed suit, according to the latest Rig Count report from Baker Hughes Co. Oklahoma’s count dropped one and as a result 46 rigs remain in active exploration. A year …
PHX Minerals to be delisted following acquisition by WhiteHawk Energy
The acquisition of PHX Minerals Inc. was recently completed by Pennsylvania-based WhiteHawk Income Corporation and WhiteHawk Energy, LLC. As a result, PHX Minerals, formerly headquartered in Fort Worth, is no longer traded and is being delisted on the New York Stock Exchange. It also means WhiteHawk Energy took control of PHX holdings in …
A flood of gas plants is coming to Texas to handle electricity growth
As Oklahoma regulators recently focused on the state’s need for more electricity in the effort to expand economic growth and industries, Texas appears to be ahead of the game. “Spurred by data centers and population growth, demand for electricity in Texas is expected to nearly double by 2034,” is how Oil & Gas Watch described …
Williams makes $1.5 billion public offering in senior notes
Williams announced it has priced a public offering of $1.5 billion in senior notes. The Tulsa-based pipeline firm said it intends to use the net proceeds of the offering to repay its near-term debt maturities and for other general corporate purposes. The offering includes $750 million of the company’s 4.625% Senior Notes due …
New Mexico faces growing costs of plugging abandoned wells
New Mexico legislators were told in a recent report the state could face upwards of $1.6 billion in costs in identifying and plugging an thousands of abandoned wells in the state. The 47-page report by the Legislative Finance Committee said the range of cost would be between $700 million and $1.6 billion and take …
Energy briefs
** Federal regulators have issued a handful of gas-related orders that clear the path for new pipeline and energy infrastructure in the Midwest and along the Gulf Coast. The decisions from the Federal Energy Regulatory Commission come as the agency has taken steps to remove barriers to building gas pipelines, including granting a one-year waiver to a FERC rule …