Thousands of abandoned oil and gas wells in the Permian Basin are the focus of growing attention—not just by landowners who have dealt with the issue for decades but by the media. Now they call them “orphaned” wells. Regardless, the problem is the same—leaking and dangerous chemicals and gas. Click here for an Associated …
Category: Oil & Gas
Energy news in brief
** The I-40 bridge over the Mississippi river separating Arkansas and Tennessee reopened over the weekend after a massive crack was discovered in early May. ** Mexico’s state power utility has struck a deal with Canada’s TC Energy Corp to develop a natural gas pipeline in the country’s south and consolidate the firm’s contracts in the …
Rep. Mullin critical of Dems for ignoring best energy solutions
The $600 billion spending package passed by House Democrats last week drew criticism from Oklahoma Republican Congressman Markwayne Mullin who said it’s nothing but another socialist wish list. Rep. Mullin, a member of the House Energy and Commerce Committee said it also abandons the all-of-the-above energy strategy that “significantly improved our nation’s energy independence.” …
United Energy announces Oklahoma acquisitions
United Energy announced Monday the acquisition of 240,000 acres of oil and gas holdings in Oklahoma and Kansas. The Plano, Texas based company did not disclose an acquisition price but said it included operated and non-operated oil and gas leases including 2,200 plus wells and 1,200 miles of natural gas pipelines. The holdings are …
Electric vehicles a perfect fit for rural Kansas?
An environmental group tries to make the case for electric cars and trucks in rural Kansas. The Environmental Defense Fund says they’re a perfect fit for the state according to the Hutchinson News. Click here for Hutchinson News
Regulators move ahead with proposed storage tank rules
The Oklahoma Corporation Commission is moving ahead with proposed rule changes for petroleum storage tank operations. The commission’s Petroleum Storage Tank Division held a virtual Industry Roundtable Meeting last month where staffers received feedback from stakeholders. The division is now planning an informal discussion with the industry on Thursday, Aug. 26. It will be …
Devon interested in Shell’s Permian Basin holdings?
Reports indicate that Oklahoma City-based Devon Energy is among major energy firms possibly interested in the purchase of Royal Dutch Shell Plc’s portfolio of Permian Basin oil fields. ConocoPhillips is also said to be interested in a sale that could bring as much as $10 billion in a sale reported Bloomberg. Click here …
Increased dividend declared by Continental Resources
Continental Resources Inc. declared an increase in a quarterly dividend on Friday. The Oklahoma City company’s board of directors declared a 15-cent a share dividend on the firm’s outstanding common stock. It will be payable on August 20, 2021 to stockholders of record on August 10, 2021. “Continental’s dividend update is a $0.04 increase to …
Crude oil prices maintain their climb upward—stocks moved down
While crude oil prices made gains to close the week of trading on Friday, Oklahoma energy stocks went the opposition direction. West Texas Intermediate crude for September delivery rose 33 cents to finish at $73.95 a barrel. Global benchmark Brent crude for September delivery went up 28 cents and closed at $76.33 a barrel …
Rig numbers slipped in past week but were steady in Oklahoma
Oklahoma’s rig activity was unchanged in the past week while the number of rigs nationwide slipped according to the weekly count released on Friday by Baker Hughes Co. Oklahoma’s numbers were unchanged at 30 while nationally, the count fell by 3 to 488 oil and gas rigs. The number of active oil rigs last …