President Biden’s cancellation of the permit allowing construction of the Keystone XL pipeline is coming back to haunt him as developer TC Energy Corp announced it wants $15 billion in damages from the U.S. government for his actions. The Canadian pipeline operator said on Friday it had filed a notice of intent to begin a …
Category: Oil & Gas
Court delivers strike against ethanol industry
Another significant blow against the ethanol industry was delivered Friday by a Federal appeals court which threw out a Trump-era Environmental Protection Agency rule change that allowed for the sale of a 15% ethanol gasoline blend in the summer months. The Associated Press reported most gasoline sold in the U.S. today is blended with …
Refiners look to boost gasoline production during summer driving season
A race is underway among the nation’s oil refineries as operators explore way to increase their production of gasoline as Americans hit the road during the summer driving season. Reports suggest some refiners are buying low-sulfur vacuum gasoil or VGO to maximize their fuel production while at the same time not increasing their crude …
Reps offer bill for abandoned oil well cleanup
Oklahoma congresswoman Stephanie Bice joined Democratic Pennsylvania U.S. Rep. Conor Lamb this week in introducing legislation to authorize more than $162 million over five years to research development of better ways to clean up abandoned oil and gas wells. Their bill has the support of Oklahoma Rep. Frank Lucas, the ranking Republican on the …
Williams finishes Sequent Energy acquisition
Williams announced it has completed its acquisition of Sequent Energy Management, L.P. and Sequent Energy Canada, Corp. from Southern Company Gas. The acquisition, announced in May, accelerates Williams’ natural gas pipeline and storage optimization and marketing growth and increases the Tulsa company’s gas pipeline marketing footprint to over 8 Bcf/d, with expansions into new …
Board makeup changes at Cheniere Energy
A change in the makeup of the board of directors at Cheniere Energy, Inc. was announced Thursday as two new members joined the leadership and one left the board. Patricia K. Collawn and Lorraine Mitchelmore joined the board as independent directors effective on Thursday. Collawn is the Chairman, President and Chief Executive Officer of …
$75 a barrel oil in the US and even higher in Europe
Rising crude oil prices in the US and in Europe carried Oklahoma energy stocks along with them for the ride in Thursday’s trading. West Texas Intermediate crude for August delivery finished up $1.76 at $75.23 a barrel. Global benchmark Brent crude oil for September delivery went up $1.22 and settled at $75.84 a barrel …
Helmerich and Payne to release quarterly earnings in late July
Investors of Tulsa-based Helmerich & Payne, Inc. will learn later this month whether the company has managed to stem the flow of losses. The drilling company plans to release its fiscal third quarter 2021 earnings report on Thursday, July 29 at 10 a.m. central time. John Lindsay, President and CEO will be joined by …
2Q earnings report date announced by ConocoPhillips
ConocoPhillips will see if it can beat its $1 billion first quarter earnings when the company releases its second quarter 2021 financial and operating results on Tuesday, Aug. 3 at 11 a.m. central time. The company’s results will be released before the market opens on Aug 3. First quarter earnings, released in early May …
Report shows large gain in rig growth in Anadarko Basin
A week after the Anadarko Basin in Oklahoma stood out for its large increase in rig activity, its numbers dropped according to Enverus Rig Analytics. But it still saw the biggest quarterly gain. The Austin, Texas company issued its weekly report on Thursday and reported the Anadarko added 16 rigs or 73% and finished the …