Heading into the weekend, American drivers saw only a penny decline in the national average of gasoline compared to earlier in the week. AAA reported a national average of $3.41 for a gallon of regular gasoline. Oklahoma drivers saw a 2-cent drop in their average from $3.04 a week ago to $3.02 this week. …
Category: Oil & Gas
Crude oil makes gains along with OK energy stocks
Oil prices settled slightly higher on Thursday after OPEC cut its 2021 oil demand forecast due to high prices. It turned out to be a strong day for Oklahoma energy stocks. West Texas Intermediate crude managed a gain of 0.75% to finish the day at $81.47 a barrel in trading on the New York …
Higher gas bills okayed by Kansas regulators for some customers
Customers of Black Hills Energy in Kansas will soon be seeing their gas bills going up by another $11.47 a month over the next five years. The hike was allowed by the Kansas Corporation Commission to allow the company to recover $87.9 million in costs from the February extreme cold weather reported the Kansas …
California firm to invest $1 billion in Texas solar operations
A petroleum products company announces it will invest $1 billion to build two solar-plus-storage power plant facilities in Texas. The move by Chem-Energy Corp., a California-based petroleum trading firm and energy company will involve construction near the Austin suburb of Kyle reported the Austin Business Journal. Click here for Austin Business Journal.
Aging gas plants to be closed by Entergy
Entergy says it will shut down aging natural gas plants in Arkansas and Mississippi in favor of a shift toward renewable power. In its 2021 Integrated Resource Plan released this month, Entergy Arkansas, a utility of New Orleans-based Entergy Corp. revealed its future does not include plans to build a new natural gas-fired power plant reported Talk Business …
Rig count gained in US but dropped in Anadarko Basin
The weekly U.S. rig count provided by Enverus Rig Analytics showed a national increase of 3 to 659 rigs while rig operations in the Anadarko Basin of Oklahoma declined. The Anadarko Basin had the largest loss, dropping five rigs to a total of 51. No operators in the Anadarko gained or lost more …
Lankford says US cannot afford Biden’s climate-change plan
Oklahoma U.S. Sen. James Lankford makes the case that the U.S. just cannot afford President Biden’s master plan to combat climate change. He repeats his call that the U.S. must adopt an “all of the above” effort in energy choices. Click here for McCarville Report.
Oklahoma student group wins $250,000 carbon removal award
Bison Underground, a startup created by current and former students from the Mewbourne College of Earth and Energy at the University of Oklahoma, won a $250,000 award and seed funding for a research proposal in the XPRIZE $5 Million Carbon Removal Student Competition. The award program, which is part of the $100 Million XPRIZE …
Devon offers $1.9 billion in notes exchange
Devon Energy came out with a $1.9 billion offering in an exchange of notes this week. The company announced the offering but in its filing with the Securities and Exchange Commission did not include a date for a deadline. The offering was for $224,079,000 of 8.250% notes due 2023; $224,079,000 of 8.250% notes also …
Continental’s big Permian acquisition a headline grabber in the Bakken
The $3.25 billion acquisition of Permian Basin assets by Oklahoma’s Continental Resources was not only big news in Oklahoma and Texas, but it also had the attention of North Dakota media. That’s because Continental Resources is a big driller in the Bakken and its acquisition of assets held by Pioneer in West Texas captured …