Researchers at the University of Texas in Austin have come out with a new report warning there could be more earthquakes in the Permian Basin because of continued oil and gas exploration. It’s a region where numerous Oklahoma oil and gas companies are among those drilling new wells. The study, published by the university’s …
Category: General
New producers reported in Oklahoma’s STACK play
Nearly 2,400 barrels of oil a day were reported as the combined production of two single-pad wells in Canadian County. Ovintiv Inc., in reports filed this week with Oklahoma regulators said the Peters 1407 4h-15x, located at 15 14N 7W, a site about 3 miles southeast of Okarche, had initial production of 1,375 barrels of …
Two workers killed in Colorado coal pile collapse ignored safety rules
A federal investigation will likely show the two workers killed in the collapse of a 60-foot coal pile at a power plant in Pueblo, Colorado were at fault by ignoring federal safety rules. Colorado Public Radio reported the two workers had climbed atop the pile to clear an air pocket that had prevented coal …
Energy news in brief around the US and world
** Democratic lawmakers on Tuesday asked U.S. customs officials to explain why three major Chinese solar energy companies were excluded from a list of importers whose products are banned under a new law aimed at cracking down on forced labor. ** White House sources say the Biden administration is opening the door to approving major fossil fuel projects — …
Crude oil made weak recovery–so did OK energy stocks
U.S. oil prices managed a weak recovery in Wednesday’s trading but still finished a few dollars short of $100 a barrel. The gain was made reports showed America’s oil inventories rose and following news of a more than 9% inflation rate in June—something that will likely spur the Federal Reserve to bump interest rates. …
Hamm’s “take private” offer under review by Continental directors
The Board of Directors at Oklahoma City’s Continental Resource, Inc. indicated this week it has moved to explore founder Harold Hamm’s $70-a-share offer in a bid to take the company private. His $4.4 billion cash “take private” offer was made in mid-June and the Board confirmed Wednesday it had formed a special committee of …
2Q earnings report coming soon from Laredo Petroleum
The second-quarter 2022 earnings report from Laredo Petroleum will be released on Wednesday, August 3. The Tulsa company announced the release will be made after the market close on that day. Company leaders plan to hold a conference call the next day, Thursday, Aug. 4 at 7:30 a.m. central time to discuss the results. …
OGE defends rate hike—says rates are still lowest in the U.S.
After negotiating a down-sized rate increase of $30 million, Oklahoma Gas and Electric defended the hike to consumers, saying in a newsletter this week that its electric rates are still among the lowest in the nation. In a note to consumers this week, the utility said its residential rates are around 30% below the …
Kansas lands $4 billion mystery battery plant over Oklahoma
Oklahoma came out on the losing end in a race with Kansas to see who might land a proposed $4 billion EV battery plant operation, one that tantalized leaders in both states. Nikkea Asia reported Wednesday afternoon that Panasonic chose Kansas over Oklahoma as the site for a second U.S. electric vehicle battery …
OKC energy company could be major supplier of lithium for EVs
Oklahoma City’s Galvanic Energy claims its southern Arkansas lithium mining operation through an underground brine formation will produce batteries for 50 million electric cars. The company stated this week that a recently completed resource report validated that its Smackover prospect as one of the largest lithium brine resources in North America. Galvanic Energy is …