Democrat President Joe Biden’s administration is reportedly gathering data on an oil pipeline in Michigan to determine if shutting it down would further increase fuel prices in the region. But it might also further aggravate relations with Canada that were already in turmoil over Biden’s executive order killing the Keystone XL pipeline. Click here …
Category: Oil & Gas
Less crude oil by rail? EIA predicts
The Energy Information Administration predicts the U.S. will see much less crude oil shipped to destinations by rail as a result of the Enbridge Line 3 replacement pipeline that became operational the first of October. The line delivers crude oil from Edmonton, Alberta, in Canada to Superior, Wisconsin, and became fully operational on October 1, …
Texas congressman calls Energy Secretary a joke and a liar
Energy Secretary Jennifer Granholm didn’t get a good response from one Texas Congressman after she laughed hysterically to the suggestion of increased oil production in the U.S. Appearing on an interview with Bloomberg, she was asked the question and insisted the oil market is controlled by OPEC. That drew high criticism from Texas Republican …
Rising gasoline costs prompt new anti-Biden meme
Don’t be surprised if Oklahoma gas pumps start sporting the latest meme sticker blaming President Biden for the high cost of gasoline. It’s not just the “let’s go Brandon” meme. Now the “I did that” stickers are showing up at gas pumps throughout the country, courtesy of pranking drivers. The “I did that” stickers …
Continental’s Delaware Basin deal—the time is right
“I know this might have caught some of our investors and some of you guys by surprise.” Bill Berry, CEO Continental Resources While leaders of Oklahoma’s Continental Resources were excited about their firm’s $3.25 billion deal to acquire Pioneer Natural Resources assets in the Permian Basin, investors had another thought. After word was …
Rig numbers grow in Oklahoma and the US
The number of oil and gas rigs is on the increase in Oklahoma. Even if it was only by one rig in the past week, the latest Baker Hughes report showed Oklahoma’s oil and gas activity increased to 44. Nationally, there was a 6 rig increase in the past week as the US count …
Southwestern Energy makes $1.8 billion acquisition in Haynesville
Southwestern Energy Company expanded its operations into the Haynesville with a $1.85 billion acquisition of GEP Haynesville, LLC. GEP is the third largest private Haynesville producer and the transaction is expected to close by the end of the year. The deal means 700 MMcf a day of production for Southwestern Energy. It also expands …
Improved earnings along with losses for Mammoth Energy
The day after Mammoth Energy Services, Inc. suffered a 22% drop in trading of its shares, the Oklahoma City company revealed third quarter financial earnings were up but so were its losses. The firm reported total revenue of $57.5 million compared to $70.5 million from a year earlier and also more than the $47.4 …
New Mexico’s Democratic Gov. upbeat about climate summit
New Mexico’s Gov. Michelle Lujan Grisham says she is “energized” after taking part in the COP21 climate change summit in Glasgow, Scotland. While her state rakes in millions every year from its share of Permian Basin oil and gas production, the Democratic governor leads New Mexico’s climate change efforts, including more restrictions on the …
Energy headlines for Monday
** West Virginia Democratic Sen. Joe Manchin rejected the way his party has approached climate change and China amid the gridlock over President Biden’s Build Back Better spending plan. He pointed out China has 3,000 coal plants while the US has 500. “My environmental friends will make you believe…that the 500 are polluting the whole world,” Manchin said. …