Interior Secretary Deb Haaland went before a House Committee she once served on and told members the Biden administration does not have plans to permanently ban new drilling leases on public lands and waters. If her claim holds true, it could have a big impact on Oklahoma energy companies that explore on public lands. …
Category: Oil & Gas
New Mexico’s oil and gas industry recovering
New Mexico, where some Oklahoma-based energy firms are active in Permian Basin drilling is reported to be rebounding from the coronavirus pandemic that hit the oil and gas industry last year according to oil firm officials who testified before a legislative committee. The rebound in the industry is occurring despite the Biden administration’s freeze …
Energy news in brief
** The world’s publicly traded independent oil producers will make record profits this year, surpassing the levels reached when crude hit an all-time high near $150 a barrel more than a decade ago, according to Rystad Energy. ** Tesla’s Model 3 tops a list of “most American-made” vehicles for 2021, marking the first time an electric vehicle …
400% increase in frack crews not enough to boost output
Primary Vision Inc., a firm that tracks data on frack crews says a 400% increase in the number of fracking crews working in the nation still isn’t enough to boost oil output to soaring levels. After an 85% tumble in the number of crews completing wells during the depths of the pandemic, the figure has …
Crude oil makes slight price gain with European prices still above $75
After stumbling on Tuesday, crude oil prices in the US and Europe managed a slight increase on Wednesday with overseas prices still resting above the $75 a barrel level. West Texas Intermediate crude oil for August delivery managed a 2-cent rise to $73.08 a barrel while global benchmark, Brent crude for August delivery went …
Williams leader says gas market is stronger than analysts predicted
The President and CEO of Tulsa-based Williams Companies says the natural gas market in the U.S., as far his company is concerned, is doing far better than analysts predicted for 2021. Speaking to potential investors this week at the J.P. Morgan Energy, Power & Renewables Virtual Conference, Alan Armstrong pointed to a Wood Mack …
Class-action lawsuit over Oklahoma earthquakes goes to trial in October
A class-action lawsuit filed after the earthquakes near Prague, Oklahoma nearly 10 years ago is finally set to go to trial in October in Norman. Cleveland County District Judge Lori Walkley, assigned to hear the case for the District Court of Lincoln County set the trial to be heard Oct. 18, 2021. The suit …
Canadian oil sands production exceeds pre-pandemic levels
Months after the Keystone XL pipeline was cancelled, a new forecast said Canadian oil sands production fully recovered from the 2020 “COVID-19 Shock” and already exceeded pre-pandemic levels. What it means is the pipeline won’t be built and the large amount of tar sands oil won’t be flowing down through the U.S. and to …
Tribe’s lawsuit over Dakota Access pipeline tossed from court
The lawsuit filed by the Standing Rock Sioux Tribe in a challenge to the operation of the Dakota Access Pipeline was dismissed this week by a federal judge. U.S. District Judge James Boasberg tossed the tribe’s suit but at the same time outlined a path for a future legal challenge to an ongoing environmental …
Court says FERC stuck its head in the sand over pipeline approval
The Federal Energy Regulatory Commission’s approval of a 65-mile gas pipeline to bring natural gas to the St. Louis, Missouri area was struck down this week by a federal court which said FERC had taken “an ostrich-like approach” and ignoring its own standards by approving the line. A panel for the U.S. Circuit Court of …