** The Biden administration has ordered U.S. government agencies to immediately stop financing new carbon-intensive fossil fuel projects overseas and prioritize global collaborations to deploy clean energy technology, according to U.S. diplomatic cables. ** South Dakota utility regulators gave the go-ahead for NorthWestern Energy to partner with BrightMark Full Circle RNG to develop the state’s first renewable natural gas …
Category: Oil & Gas
Crude oil slips while Oklahoma energy stocks suffer
After climbing above the $71 mark earlier this week, crude oil in the U.S. dropped in Thursday’s trading. Oklahoma energy stocks recorded a lot of losses on the day. West Texas Intermediate crude fell $1.75 or 2.42% to finish the day at $70.61 on the New York Mercantile Exchange. Global benchmark Brent crude was …
Continental Resources one of most active rig operators in US
Figures from Enverus Rig Analytics show the active U.S. rig count fell to 674 in the past week but at the same time also indicated that Oklahoma City-based Continental Resources is one of the most active operators in the nation. Enverus explained its count of active rigs declined by one but the count is …
Supreme Court’s January hearing could be critical to Oklahoma
A Jan. 7 conference hearing by the U.S. Supreme Court could be critical to so many questions regarding Oklahoma’s energy regulatory powers following the court’s controversial McGirt ruling last year that returned some enforcement powers to Indian tribes. The Oklahoman reported this week the high court could decide after the hearing whether to reconsider …
Gasoline hits $2.91 average in Oklahoma
Gasoline prices have dropped in the past week and the American Automobile Association says it’s because of growing fears about COVID-19 and what it might do to the world economy. Oklahoma gasoline prices are among those that slid over the past several days as the state’s average price is $2.91 per gallon, down about …
Cushing still holds less than half of its crude oil storage potential
The supply of crude oil at the Cushing hub in northern Oklahoma increased slightly in the past week, reaching more than 30 million barrels of oil. The late petroleum supply report by the U.S. Energy Information Administration showed 30,917,000 million barrels of oil were in storage at Cushing. It compared to 28,917,000 million barrels …
EIA predicts lower crude oil prices in December
A lower price for crude oil is in the forecast for the next few months from the U.S. Energy Information Admininstration. In a report this week, the EIA said the smaller expected inventory draw from December 2021 through February 2022 will also contributed to the lower prices. The forecast said global petroleum inventory draws …
More wells completed in Canadian County
Oklahoma’s Canadian County is home to two recently completed oil wells according to new documents supplied by the Oklahoma Corporation Commission. Devon Energy reported completion of the Miller-miller 2_11-12n-9w 3hx located 3 miles south of the town of Calumet at 2 12N 9W. The well had production of 862 barrels of oil a day and 7,897 …
Friday headlines of other energy stories
** House lawmakers voted 364 to 60 on Wednesday night to pass the The Ocean Shipping Reform Act of 2021, a bipartisan bill aimed at curbing the shipping container crisis. ** The U.S. government plans to end purchases of gas-powered vehicles by 2035 in a move to lower emissions and promote electric cars under an executive order …
New Mexico regulators say ‘no’ to acquisition of PNM Resources
State utility regulators in New Mexico moved this week to reject Avangrid Inc.’s proposed $8 billion acquisition of PNM Resources Inc. The Public Regulation Commission said the risks of the deal by the Spanish energy giant and Avangrid parent Ibeerdrola SA far outweighed promised benefits to state ratepayers reported Reuters. Click here for Reuters.