On the day that Devon Energy saw its shares make a more than 3% gain, the company announced it is observing its 50th anniversary since its founding in 1971 by John and Larry Nichols. A lot has happened since then, when the company had no assets and five employees. By 1988, Devon was publicly …
Category: Oil & Gas
Ethanol production returns to near normal levels in Nebraska
When the coronavirus pandemic hit the U.S., the nation’s ethanol production dropped dramatically as some Nebraska plants produced hand sanitizer for businesses. Now things are returning to levels reported before the pandemic. Pam Miller, head of Renewable Fuels of Nebraska says nearly all plants are back online and at full production which is close …
Energy news in brief
** Fuel outages and a six-year high in gas prices persist across North Carolina, Washington, D.C., and other parts of the Southeast even as the Colonial Pipeline resumes operations. ** The US Energy Information Administration reported Tuesday disruptions to Colonial Pipeline operations prompted an increase in the average U.S. retail price for regular grade gasoline (retail gasoline price) …
Supreme Court sides with energy companies in lawsuit by Baltimore
Energy companies including ConocoPhillips, Chevron and Marathon Oil were handed a victory Monday by the Supreme Court in their fight with the city of Baltimore which filed suit three years ago blaming them climate change including rising sea levels and extreme weather. The Justices, in a 7-1 ruling said the 4th Circuit Court …
Crude oil prices move closer to $70 in Europe
Crude oil prices took another bounce up in Monday’s trading and reached closer to $70 overseas. Global benchmark Brent crude for July deliver went up 75 cents and closed for the day at $69.46 a barrel on ICE Futures Europe. In the U.S., West Texas Intermediate crude for July delivery rose 90 cents and …
DUCs drop in Anadarko Basin
The number of drilled but uncompleted wells in Oklahoma’s Anadarko Basin declined slightly in May according to documents released Monday by the U.S. Energy Information Administration. The EIA report said the Anadarko’s DUCS totaled 856 in March and declined by 21 to 835 in April. The nation’s total number of DUCS dropped from 7,098 …
AAA reports Oklahoma gas prices sixth lowest in the nation
While the national gas price average is at the most expensive level in six years at $3.04, AAA reports Oklahoma’s $2.78 average is the sixth lowest in the nation. Still, Oklahoma prices are 15 cents higher than a month ago when the average was $2.63 a gallon. AAA says travel is rebounding from the …
Energy secretary to be questioned about her budget
Oklahoma congressman Markwayne Mullin and others on the House Energy and Commerce Committee will have a chance this week to question Energy Secretary Jennifer Granholm about her agency’s budget. She will go before the committee on Wednesday to talk about the Energy Department’s fiscal 2022 budget request. How much money are we talking about? …
Oil execs won’t be a part of congresswoman’s setup
Thanks but no thanks. It’s what five executives of oil and gas firms, including Oklahoma City-based Devon Energy told a congressional subcommittee that wanted to grill them about what critics called “Corporate Welfare” of the industry. Why would they want to testify when the chair of the U.S. House Natural Resources Oversight subcommittee is …
FERC’s deadline arrives for pipeline complaints
Monday was the deadline set by the Federal Energy Regulatory Commission for Cheniere Energy to resolve land complaints of Oklahoma farmers and ranchers about unfinished Midship pipeline restoration. As OK Energy Today reported in March, FERC heard complaints about the restoration work and ordered Cheniere to make completions within at least 60 days. Monday …