The Oklahoma Water Resources Center will hold a second session on Friday of its Produced Water Treatment and Reuse Seminar series. The largest volume by-product of oil and gas production is produced water. The average oil well in the U.S. produces over 9 barrels of water per barrel of oil. The Friday session will begin …
Category: Oil & Gas
Former SandRidge Energy tower renamed
Once home to SandRidge Energy, the company’s former headquarters tower in downtown Oklahoma City has been officially renamed the “Strata Tower at Oklahoma Commons.” Located at 123 Robert S. Kerr Avenue, the 30-story building is now home to about 1,200 state employees after SandRidge went bankrupt and sold it to the state. The renaming …
Oil recovery boosts New Mexico’s revenues
New Mexico’s oil production is recovering from the pandemic despite fewer oil rigs according to state officials who said this week revenues are tracking ahead of forecasts by nearly $350 million. A state official who testified before a legislative committee this week indicated overall gross receipts tax collections are still down compared with fiscal …
Keystone XL pipeline is officially dead
This week’s decision by TC Energy to officially pull out of development of the Keystone XL oil sands pipeline drew quick responses from Oklahomans in congress and others who supported the project. The abandonment left the Keystone officially dead and in the obituary columns. Oklahoma U.S. Rep. Markwayne Mullin immediately tweeted his reaction. Markwayne …
$2 billion Devon note exchange completed
Devon Energy says it finished a nearly $2 billion offer to exchange notes of WPX Energy Inc., the Tulsa firm that merged with Devon earlier this year. In a filing with the Securities Exchange Commission, Devon stated it exchanged approximately $1.96 billion or 97.45% of the WPX notes that were outstanding. The WPX notes …
Crude oil rallied then slipped on Wednesday
Crude oil prices couldn’t hold the grounds they gained in a Wednesday rally that saw Brent crude reach its highest mark since May 20, 2019. West Texas Intermediate crude for July delivery, a day after settling above $70 a barrel continued to rise and hit $70.62, the highest since Oct. 17, 2018 before it …
Ascent Resources makes $350 million offering of senior notes
A $350 million note offering was announced this week by Oklahoma City-based Ascent Resources Utica Holdings, LLC. The company said the offering is with its wholly-owned subsidiary, ARU Finance Corporation and includes senior unsecured notes due 2029. Ascent stated that it intends to use the proceeds to pay down a portion of the outstanding …
First electric fire truck unveiled in Wisconsin
The movement toward electric vehicles across the U.S. has produced what might be the nation’s first electric fire truck. It is in Madison, Wisconsin where the fire department unveiled its “revolutionary” electric fire engine this week. The Wisconsin State Journal reported the truck was manufactured by Appleton’s Pierce Manufacturing. Click here for Wisconsin Stater …
Congressman questions legality of campaign contribution to Biden
Oklahoma Congressman Markwayne Mullin, a continuing critic of President Biden’s anti oil and gas moves suggests the President’s latest decision might be illegal. When asked by OK Energy Today for his reaction to the President’s acceptance of money from a Russia lobbyist and his decision not to continue with sanctions over the Nord Stream …
US crude prices settle above $70 a barrel
A day after crude oil prices dropped in trading both in the US and overseas, they managed an increase in Tuesday’s trading with US prices finally topping the $70 level. It came after US oil prices hit $70 a barrel on Sunday for the first time in nearly 3 years, underscoring the rebound since …