Crude oil prices managed a slight improvement on Tuesday as Nicholas, the short-lived hurricane that quickly turned into a rain-bearing tropical storm over Texas and Louisiana hit the Gulf states. Damages to the U.S. energy infrastructure weren’t as extensive as those reported from Hurricane Ida earlier in September. U.S. West Texas Intermediate crude for …
Category: Oil & Gas
Colonial pipeline closes again—this time over Hurricane Nicholas
The nation’s largest pipeline was closed Tuesday because of extensive power outages in South Texas caused by the arrival of Hurricane Nicholas. Colonial shut down operations as a pre-emptive move, closing its main gasoline and distillate fuel lines reported Hart Energy. Click here for Hart Energy report.
New lender for PHX Minerals in OKC
Oklahoma City-based PHX Minerals Inc. recently announced the closing of a new four-year $100 million senior secured credit facility. The new facility, led by Independent Bank including MidFirst Bank replaces the company’s previous credit agreement which was with a lending syndicate led by Bank of Oklahoma. The new facility included an initial borrowing base …
Kansas to install $2 million in EV chargers along interstates
The state of Kansas says it will use millions in Volkswagen settlement money to install at least a dozen electric vehicle charging stations along major interstates and highways. The $2 million project was announced this week by the Kansas Department of Transportation reported the Wichita Eagle. Click here for Wichita Eagle.
Energy news in brief
** The U.S. government has agreed to sell crude oil from the nation’s emergency reserve to eight companies including Exxon, Chevron and Valero, under a scheduled auction to raise money for the U.S. budget, the Department of Energy said. ** U.S. Rep. Teresa Leger Fernández, a New Mexico Democrat, introduces a bill that would provide $5 …
Dems propose keeping oil and gas industry tax breaks
President Biden doesn’t get everything he wants from Congress when it comes to his attacks on the oil and gas industry in Oklahoma and across the U.S. Take for example his call to end the tax breaks for oil and gas producers. Congress ignored Biden this week, unveiling a draft tax overhaul in the …
Feds okay private nuke waste site in West Texas oilfields
A private company’s plan to store tens of thousands of tons of highly radioactive nuclear waste in west Texas oilfields won approval this week from Federal regulators. The U.S. Nuclear Regulatory Commission granted a license to Orano CIS LLC and its joint venture partner, Waste Control Specialists LLC. It will allow the firms to …
Natural gas processor hit with major fine over illegal pollutant emissions in New Mexico
One of the largest natural gas processing firms in the nation agreed to a settlement and $950,000 penalty with the New Mexico Environment Department over illegal emissions of pollutants. The state of New Mexico announced a settlement agreement and stipulated final compliance order with DCP Operating Company, LP, a firm headquartered in Denver, Colorado. …
Kansas AG says utilities might have broken the law over natural gas spikes
The Attorney General in Kansas said this week he believes the natural gas price spikes during the February winter storm “appear to violate Kansas law.” Derek Schmidt announced Monday his office will seek expert help with the investigation and possible lawsuits reported the Hays Daily News. Click here for Hays Daily News
4,500 barrel production from Ovintiv wells in Kingfisher County
Just as we reported of the continued big well production by Ovintiv Mid-Continent Inc. in Oklahoma’s STACK, the company followed it up with two more wells from the same pad southwest of Kingfisher making combined production of nearly 4,600 barrels of oil a day. Ovintiv will sometimes file completion reports on one or two …