The state of Colorado does not want to pay the bill for abandoned oil and gas wells and plans to avoid picking up the tab by forcing operators to guarantee the clean up of every well should they be abandoned. It could means a cost of billions of dollars under draft regulations drawn up …
Category: Oil & Gas
Energy news in brief
** Federal regulators blame an offshore drilling company for trying to ride out a hurricane last year, risking workers’ safety and resulting in nearly $6 million in damage to equipment. ** Companies drilling wells for oil and natural gas exploration in Florida’s Apalachicola River basin come up short for the second time in three years. ** In 2020, consumption of …
Denton power plant made money off heat wave
After unsuccessfully filing suit against ERCOT, the Texas state grid operator because of exorbitant prices in the February winter storm, the city of Denton made up for some of it with a 1,000% rise in revenue made off its sale of electricity back to the grid operator. The Denton Record-Chronicle reports the city-owned Denton …
Crude oil prices took a hit in Thursday’s trading
Crude oil prices dropped in Thursday’s trading but remained above $71 a barrel in the U.S. and $73 in Europe. Oklahoma energy prices suffered as well. West Texas Intermediate crude for July delivery dropped $1.11 to $71.04 a barrel in trading on the New York Mercantile Exchange. Global benchmark Brent crude for August delivery …
DEQ announces over $850,000 in school bus replacement awards
The Oklahoma Department of Environmental Quality announced the distribution of more than $850,000 in Volkswagen Settlement funds to replace 31 diesel school buses. The funding is part of the FY20 Oklahoma Clean Diesel and Alternative Fuel School Bus grant programs. Volkswagen Settlement Recipients FY 2020 Alternative Fuel School Bus (AFSB) ProgramFY 2019 AFSBFY 2018 AFSBChargeOK …
One Gas aims to boost renewable natural gas uptake
Tulsa-based One Gas is adjusting its revenue goal by taking aim at industrial and large business customers through the firm’s production of renewable natural gas. Company leaders believe those kinds of customers could be crucial for their demand base of the RNG and maybe even result in lowering the cost of fossil fuel alternative …
Northern Oil and Gas, Inc. announces Core Permian Basin bolt-on acquisitions
Northern Oil and Gas, Inc., a firm based in Minnesota announced this week a more than $100 million move to acquire more holdings in the Permian Basin. The firm said it entered into three definitive agreements to acquire non-operated interests of nearly 2,900 net acres in the heart of Reeves County, Texas and in …
New Cargill plant in Iowa backs corn to replace fossil fuels
Ground is to be broken soon on Cargill’s new $300n million project in Iowa to replace fossil fuels in the process of manufacturing waterproof paper cuts and putting the stretch in athleisure clothes. The company’s project in Eddyville, Iowa will involve corn replacing fossil fuels as the underlying element of the polymer used in …
Williams announces deepwater export agreement at Shenandoah
Tulsa-based Williams announced Wednesday that it recently reached an export agreement to provide offshore natural gas gathering and transportation services to the Shenandoah development in the central Gulf of Mexico. The agreement is with Beacon Offshore Energy Development LLC and its co-owner ShenHai, LLC, a subsidiary of Navitas Petroleum. It includes offshore and onshore …
US crude prices remain above $72 a barrel
Crude oil prices continued their rise in Wednesday’s trading as they settled again above $72 a barrel in the US and more than $74 a barrel in Europe. West Texas Intermediate crude for July delivery managed a 3 cent increase to settle at $72.15 a barrel. Global benchmark Brent crude for August delivery rose …