Business leaders of northwest New Mexico used U.S. Energy Secretary Jennifer Granholm’s visit last week to win her support to turn the region into a hub for hydrogen energy. Granholm spent time touring a Farmington facility that manufactures blue hydrogen reactors that use methane derived from natural gas. Democratic U.S. Sen. Martin Heinrich joined …
Category: Oil & Gas
Rep. Hern says the nation’s true leaders are back home—not in Washington DC
Tulsa congressman Kevin Hern spent nearly three weeks back in his first congressional district and took part in dozens of meetings. One was with management and workers at the Midwestern Manufacturing & Pipe Line Products company in Tulsa. Their discussions focused on the importance of U.S. manufacturing and American energy independence. Rep. Hern held …
While COVID case numbers go up, crude oil prices go down
The surge in COVID-19 cases across the globe was blamed for a drop on Friday of crude oil prices, resulting in the biggest week of losses in more than nine months. Can they rebound as the industry prepares for another week of trading? West Texas Intermediate crude for September delivery dropped $1.37 or 2.2% …
US oil and gas rig numbers increase while Oklahoma is unchanged
The latest Baker Hughes Co. report indicated a slight increase in the number of oil and gas rigs active in the U.S. while Oklahoma’s numbers were unchanged from a week ago. The national count increased by 3 to 503, including the number of oil rigs increasing by 8 to 405 while the number of …
Energy news in brief
** Xcel Energy announced that Bob Frenzel has been appointed president and CEO of the company. Ben Fowke, the current chairman and CEO will remain at Xcel Energy as executive chairman of the Board of Directors. Tim O’Connor was also named executive vice president and chief operations officer. ** The US Energy Information Administration predicts a …
USDA to fund Oklahoma biofuels projects
A project involving Oklahoma-based Magellan Pipeline company is among those in 23 states receiving $26 million from the U.S. Department of Agriculture to build infrastructure and expand the availability of higher-blend renewable biofuels by 822 million gallons a year. Magellan will receive $4,884,077 in a Rural Development investment to expand the sales and use …
Enverus reports decline in US rig numbers
The U.S. rig count slumped by four in the last week to a total of 573 as of Aug. 18, according to Enverus Rig Analytics. The count is up 2% in the last month and up 101% in the last year. At the beginning of August, the DJ Basin hit a 2021 high of …
Crude oil prices keep sliding
Make it six trading sessions of losses for crude oil prices as the oil market now has seen 15% declines since early July. Oklahoma energy stocks had their losses too in Thursday’s trading. The weakened global demand from the increase in COVID-19 cases has resulted in oil prices at lows not seen since May. …
Halliburton stages another high-tech fracking job in the Permian
Halliburton Company announced a successful execution of its SmartFleet™ intelligent fracturing system with a major operator in the Permian Basin. “We view the SmartFleet system as a tool that provides valuable insights into subsurface fracture placement,” said Aaron Hunter, vice president of the Midland Basin for ConocoPhillips. “These insights lead to informed decisions that improve fracture …
Hinkle adds 3 STACK wells to list of producing wells
Oklahoma City energy company Hinkle Oil & Gas Inc. reported July completions of three Kingfisher County wells with combined total production of more than 1,600 barrels of oil a day. The Lincoln Southeast Oswego Unit wells, each drilled on adjacent sections north and south of the Cimarron River were completed in July at sites about …