** American Petroleum Institute President and CEO Mike Sommers said Thursday the API supports the goals of the Paris Agreement to reduce global emissions and alleviate poverty. He said it also supports the Biden administration’s announcement for a new U.S. National Determined Contribution for the agreement. ** NextEra Energy Inc. wants to buy more power lines …
Category: Oil & Gas
12 States want to ban gas cars nationwide
The governors of a dozen states on the West and East Coasts not only want to ban the sale of gas cars by the year 2035 but also to enforce such a ban on Oklahoma, Texas, Kansas and the rest of the nation. The 12 governors made their pitch in a letter this week …
Feds cancel next sale of public oil and gas leases
In addition to pausing oil and gas leases on federal lands, a move taken by President Biden earlier in the year through one of his many executive orders, the government has now canceled oil and gas lease sales through June. The U.S. Interior Department announced this week the cancellation while it was still reviewing …
Halliburton plunges on disappointing forecast for slowing growth
After warning investors it didn’t anticipate much growth in the nationwide demand for oil-drilling and fracking services, Halliburton Co. tumbled in trading. Considered the world’s biggest provider of fracking services, Halliburton, the company that got its start in southern Oklahoma saw trading fall as much as 7.4% on Wednesday in the S&P 500 Index …
US oil prices drop to $61 while Oklahoma energy stocks rebound
Crude oil prices took another tumble in Wednesday’s trading settling at prices that are more than $2 lower than the start of the week. West Texas Intermediate crude for June delivery dropped $1.32 to $61.35 a barrel in trading on the New York Mercantile Exchange. Global benchmark Brent crude for June delivery fell $1.25 …
Legislators approve bill to spread February gas costs over 30 years
The Oklahoma legislature on Tuesday sent Gov. Kevin Stitt the utility measures intended to spread the cost of historic February winter storm natural gas over a period of nearly 30 years. Senate Bills 1049 and 1050, if signed into law by the governor will ease consumers’ pain of paying for billions of dollars in natural gas costs …
Ovintiv scores big in Kingfisher County
Denver’s Ovintiv Mid-Continent Inc. did it again in the STACK with a five-well single-pad site that produced more than 4,200 barrels of oil a day. The five Maybel wells, located at 24 16N 8W, a site 3 miles west of Kingfisher and a mile south of state Highway 33, had completion dates in September 2020 but …
Energy news in brief
** New data indicates Permian Basin oil and gas production is now close to pre-pandemic levels. ** A company developing what it says is the first plant converting food waste and wastewater into natural gas won initial approval from a California agency Tuesday to raise $13 million in the tax-exempt debt market to finance it. ** The nation’s largest …
Haaland asks for funding to fight climate change, aid Native Americans
Interior Secretary Deb Haaland was largely noncommittal about the Biden administration’s pause on oil and gas leasing of federal lands during her first congressional hearing on Tuesday. Instead, she focused on asking for more money for Indian tribes and climate change initiatives as she went before the House Interior-Environment Appropriations Subcommittee reported the Daily Montanan. …
OK Supreme Court overturns $19 million attorney fee in lawsuit against oil company
The Oklahoma Supreme Court has overturned a lower court’s $19 million attorney fee award and a $400,000 incentive award in a class action lawsuit filed against Continental Resources Inc and lasted for years. The ruling came in an appeal filed by Daniel McClure, an attorney and a mineral interest owner in the case. The …