Three members of Congress from Florida say President Biden is wrong to depend on foreign oil to end the energy crisis in the U.S. Writing in The Miami Herald, the three also pointed out that Biden was wrong to have killed the Keystone XL pipeline. Click here for Miami Herald
Category: General
Crude oil and OK energy stocks lost ground on Friday
Friday saw crude oil prices fall again, slipping to the mid-90s in the U.S. The tumble was largely blamed on the move by the European Union to allow Russian state-owned companies to ship oil to third countries. West Texas Intermediate crude for September delivery dropped $1.65 and settled at $94.70 a barrel on …
Oklahoma rig count unchanged while national numbers grew
The number of active oil and gas rigs in Oklahoma was unchanged in the past week while the U.S. count increased by two to reach 758 according to the latest Baker Hughes Co. report. Oklahoma remained at 63 active rigs, same as a week earlier. Nationally, the count saw no change in the number …
Power grid monitoring electricity use in expected high temperatures
A weekend letup in the extreme heat in Oklahoma and the remaining 13 states under the Southwest Power Pool grid resulted in a return to normal power operations. But the SPP said in a statement that the coming week it anticipates higher loads and concerns regarding the availability of generation resources. The grid operators …
Growing cryptomining industry could drain the Texas power grid
Already under intense scrutiny over the 2021 winter storm power failures, the power grid in Texas faces another looming challenge—how to handle the growing number of cryptomining companies flocking to the state. It’s estimated that in the coming years, those power-consuming firms will take nearly a fourth of the state’s power grid capacity. Click …
Unit Corporation recovers from losses
Company leaders at Tulsa-based Unit Corporation sounded optimistic Friday after releasing the firm’s second quarter earnings report showing $80 million net income compared to a $13 million loss a year earlier. The figures are estimates because Unit stated it had not completed the reporting process for the quarter. It explained preliminary results are based …
Coterra to unveil 2Q financial results
Coterra Energy plans to release its second quarter 2022 financial results next week. The company, one active in Oklahoma’s STACK play, will unveil the results on Tuesday, August 2 after the close of markets. Leadership will hold a conference call the next day at 9 a.m. central time. After the release of the first …
Senators fight to block social cost of carbon used by feds
Oklahoma U.S. Sens. James Lankford and Jim Inhofe led a handful of other senators in filing a bill to fight the Biden administration from using the social cost of carbon in any rulemaking process. A dozen other Republican Senators joined them in the introduction of the Transparency and Honesty in Energy Regulations Act which would prohibit …
Tulsa firm reports two Canadian County wells with 1,200 barrels of oil a day
Two Canadian County wells drilled by Citizen Energy III LLC on a single pad produced more than 1,200 barrels of oil combined a day. The Tulsa energy company filed completion reports showing the Darrow Trust 3hl-7-18, located at 7 10N 5W, a site about 2 miles southwest of the city of Mustang was completed in …
Small Oklahoma town without water
The small eastern Oklahoma town of Sasakwa struggles with a water crisis that began months ago. A town well is broken and as a result, the residents only have running water every other day according to a report by Fox 25 News. Click here for Fox 25 News