** In an effort to counter rising prices at the pump, President Biden plans to plunder the country’s “oil piggy bank.” In November, the Department of Energy will deliver 10 million barrels from the Strategic Petroleum Reserve (SPR) to the market. ** A trio of Democratic lawmakers wants to pull all U.S. troops out of Saudi Arabia …
Category: General
Will crude’s gains continue into the coming week?
Already angry with the oil and gas industry, President Biden and his administration were no doubt upset over Friday’s 3% jump in crude oil prices—a move that will likely send gasoline prices climbing again. Overall, prices made a 4% gain to a five-week high in Friday’s trading, bolstered by OPEC+’s decision to make its …
Canadian County wells finished by Citizen Energy III
Citizen Energy III filed completion reports on two Canadian County wells from a single pad with production of more than a thousand barrels of oil a day. Located at 16 10N 5W, north of the Canadian River and north of Tuttle, the new Nowlin wells were completed in July of this year. The Nowlin 2h-16-9 had production …
New board member named by SandRidge Energy
SandRidge Energy, Inc. announced that Nancy Dunlap has been elected to the Company’s Board of Directors. The 70-year old Dunlap has served since 1999 as the private counsel and head/Chairman of the private family office of Jon S. Corzine, former New Jersey Governor and United States Senator. She has served as a director of …
Crude oil made slight gain while OK energy stocks were mixed
A slight gain in crude oil prices was made Thursday as anxious investors awaited Friday’s U.S. jobs report—the gain attributed still from Wednesday’s OPEC+ decision to cut crude production by 2 million barrels a day. West Texas Intermediate crude for November delivery went up about 1% on a 69 cent-increase to finish the day …
Hospital operator ending operations in Weatherford and Clinton at year’s end
If there’s one thing that’s important to western Oklahoma energy industry people, it’s health care. Hospitals. But now the hospitals in Clinton and Weatherford might be closed by the end of the year. County and state officials were notified this week by Clinton HMA, LLC and Clinton HMPN, LLC that “due to market …
Major drop in rig numbers reported by Enverus
The U.S. rig count fell by 13 to a total of 878 during the week ended Oct. 5, according to Enverus Foundations data. The count is up 1% in the last month and up 43% YOY. All numbers discussed are weekly peaks to avoid the sometimes wide variability of daily numbers. The average number …
Oklahoma barge traffic unaffected by low levels in Mississippi River
While the low water level of the lower Mississippi River has resulted in some barges getting stuck in the mud, that is not the situation on the McClellan-Kerr Navigation System in eastern Oklahoma. Lack of rainfall has left the Mississippi River close to record levels. Eastern Oklahoma is suffering a growing drought that has …
Louisiana’s pulling out investments with BlackRock
Oklahoma has a law on the books to do it. Hit green energy investment firms where it hurts. BlackRock got another hard political lesson this week when Louisiana’s state treasurer said the state would be divesting all of its Treasury funds from the investment firm because of its past efforts to intentionally eliminate fossil …
Rep. Cole says Biden’s energy policies threaten US security
While President Biden plans to release more U.S. crude oil from the country’s Strategic Petroleum Reserve, his energy policies are still being criticized by Oklahoma Congressman Tom Cole. In his weekly update “From Rep. Tom Cole’s Desk,” the congressman stressed again how Biden’s “Green New Deal” efforts resulted in skyrocketing energy prices but also …