Marathon Petroleum Corp. is attempting to empty a leaking oil storage tank at its oil refinery on the Texas Gulf Coast. The leak was discovered earlier this week and workers contained much of the crude in a containment dike reported Bloomberg. Click here for Bloomberg.
Category: Oil & Gas
Oil drops along with Oklahoma energy stocks
After hitting nearly $79 a barrel in the U.S. on Tuesday, crude oil prices on Wednesday fell nearly 2% following news of an unexpected rise in U.S. crude inventories. West Texas Intermediate crude for November delivery dropped $1.50 to $77.43 a barrel. Global benchmark Brent crude for December delivery fell$1.48 to finish the day …
Oklahoma’s gross receipts hit record high thanks to increased oil prices
Oklahoma State Treasurer Randy McDaniel reported this week that the state’s expanding economy pushed gross receipts to an all-time high as collections from the past 12 months topped $14.5 billion. Rising oil prices were a key part of it. Gross receipts for the month were also a record high totaling $1.38 billion, exceeding results …
Mineral rights scheme leads to 2nd federal indictment
A federal grand jury indicted an Oklahoma City attorney this week, making him the second person charged in a mineral rights scheme. The Oklahoman reported attorney Mitchell K. Coatney was accused of allegedly working with Justin Biggs who at the time was an employee of Continental Resources Inc. The indictments accuse the two of …
United Energy expands holdings in NE Oklahoma
A 140-mile natural gas pipeline owned by Red Fork Energy in Wagoner County, Oklahoma has been acquired by United Energy, a firm based in Plano, Texas. No sales price was disclosed in the announcement. It is a second major acquisition in eastern Oklahoma for United Energy. In August, the company announced it had acquired what …
Other energy stories from around the globe
** Pennsylvania’s attorney general announced the filing of criminal charges against pipeline operator Sunoco for last year’s spill of thousands of gallons of drilling fluid. Energy Transfer, Sunoco’s owner, faces 48 criminal charges, most of them for illegally releasing industrial waste at 22 sites in 11 counties across the state. ** The U.S. Coast Guard …
ONE Gas 3Q earnings report coming soon
ONE Gas, Inc. will release its third quarter 2021 earnings after the market closes on Monday, November 1, 2021. The ONE Gas executive management team will participate in a conference call the following day, Tuesday, November 2, 2021, at 11 a.m. Eastern Daylight Time (10 a.m. Central Daylight Time). The call also will …
$2 billion purchase leaves Icahn fuming
Activist investor Carl Icahn, yes the same one who holds controlling interest in Oklahoma City’s SandRidge Energy as well as CVR Energy tried but failed to convince Las Vegas-based Southwest Gas not to buy Dominion Energy’s Questar Pipeline in a $2 billion deal. He revealed earlier Tuesday that he had a 4.9% stake in …
Crude oil climbs closer to $83 but Oklahoma energy stocks sagged Tuesday
Another day–another jump in crude oil prices as US crude hit nearly $79, its highest level since 2014 and Brent futures rose to a three-year high. But the gain in crude prices didn’t provide a lot of fuel for Oklahoma energy stocks. West Texas Intermediate crude for November delivery went up $1.31 to finish …
Lankford wants US to take action to stop energy dependence on China
CLICK HERE to watch Lankford’s Q&A on YouTube. Oklahoma U.S. Sen. James Lankford continued his pressure to highlight the Biden administration’s efforts to “cancel” US energy and innovation under the “climate-change prevention banner”, doing so during a Senate committee hearing on updates to US mining laws. He used it to urge steps be taken to …