** U.S. oil and gas mergers surged last quarter with the most $1 billion plus combinations since 2014, according to data released on Monday, as rising energy and share prices led to larger oilpatch deals. ** Dominion Energy Inc. and Berkshire Hathaway Energy, an affiliate of Berkshire Hathaway Inc. announced they have agreed to terminate the sale …
Category: Oil & Gas
Biden to throttle drilling rights sales
If a report by Bloomberg is spot on, the Biden administration intends to attack the oil and gas industry even more by curtailing sales of U.S. drilling rights. If so, it would impact companies like Devon Energy, one of the largest holders of drilling leases on federal lands. Bloomberg reported Monday the administration is …
Long but not impossible odds that TC Energy recovers Keystone XL damages
Some attorneys suggest there is a chance that TC Energy might be able to recover economic damages that resulted from President Biden’s cancellation of the Keystone XL oil pipeline. Their analysis comes after the Canadian company filed a notice early this month with the State Department to bring a legacy claim under the North …
Senate Pro Tem Greg Treat announces approved interim study requests
Senate President Pro Tempore Greg Treat announced the approval of all requests for interim studies submitted by Oklahoma Senate members including some that will focus on the state’s energy industry. One request is for a study of expanding the natural gas industry in southeast Oklahoma. Another involves the tagging of trailers while yet a …
Oil prices bounce back close to $75
Falling U.S. inventories helped spark a bounce back for crude oil prices on Friday and now investors and others will wait to see whether the rebound will continue on Monday. West Texas Intermediate crude for August delivery rose $1.62 or 2.2% to finish Friday at $74.56. Global benchmark Brent crude closed up $1.43 or 1.93% …
Nation’s rig count continues to grow while Oklahoma is unchanged
While the nation’s total number of active oil and gas rigs grew by four in the past week, the country’s major shale drilling area, the Permian Basin, the Williston and the Anadarko Basin was unchanged. Figures released by Baker Hughes showed a total count of 479 active oil and gas rigs including an addition …
The battle over a Southeast energy market
A decision could come next month from the Federal Energy Regulatory Commission on a plan by three big utilities serving the southeast and parts of eastern Oklahoma to form a new market called SEEM, the Southeast Energy Exchange Market. Some clean energy groups and big corporate electricity buyers are opposed to the creation of …
Some Evergy customers could be paying for years due to winter storm
While some Kansas City-area customers will see energy savings, Evergy customers in parts of Missouri may be repaying electric costs for the next 15 years following the February cold weather snap that strained supplies. Click here for story from the Kansas Reflector.
Energy news in brief
** U.S. Treasury Secretary Janet Yellen signaled she’ll prod multilateral development banks to rein in their lending for fossil fuels, part of a global effort to make the financial system greener. ** Colonial Pipeline Co. could face daily fines of up to $200,000 per violation if it fails to improve the way it detects leaks in …
How a lobbying firm helps SE New Mexico’s oil industry
An international lobbying firm has been helping southeast New Mexico in its efforts to maintain the prosperous oil and gas industry. The city of Carlsbad and Eddy County have spent thousands with FTI Consulting, a company that is better known for its large energy clients. In the first quarter of this year alone, …