** US authorities prevented a ship from unloading Russian fuel in New Orleans, according to the Wall Street Journal. The ship had planned to arrive on Sunday but is still being checked out by US Customs and Border Protection. ** U.S. climate envoy John Kerry said on Tuesday Russia’s invasion of Ukraine was a warning to …
Category: General
Report links West Texas oil and gas drilling to increase in earthquakes
New research by the University of Texas blames oil and gas drilling in the Permian Basin for increased earthquakes in the West Texas region. Investigators assessed 5,000 quakes between 2017 and 2020 to determine the impact of production on earthquake frequency according to The Hill. Click here for The Hill
OGE’s rate hike hearing to enter third day before a regulatory judge
A hearing into the $163.5 million rate hike request that Oklahoma Gas and Electric has agreed to lower to $45 million involved a second full day of testimony pro and con before an Oklahoma Corporation Commission judge. Administrative Law Judge Linda Foreman heard from a long string of witnesses presented not only by OG&E …
Crude oil and OK energy stocks made more gains on Tuesday
Crude oil prices rose higher for a third straight trading day on Tuesday, this after Saudi Arabia and the United Arab Emirates were unable to boost output significantly and western governments agreed to consider a cap on the price of Russian oil. The day also produced continued gains for Oklahoma energy stocks. West Texas Intermediate …
Hamm encounters shareholder opposition in private takeover effort at Continental Resources
An investor with about a 2% stake in Continental Resources came out this week with a blunt criticism of Harold Hamm’s effort to buy out the remaining shares of the company he founded. Bill Smead, owner of Smead Capital, the largest Continental shareholder after Hamm and his family, told CNBC that Hamm is trying …
Renewable industry employment increases while oil patch work declines
A new report from the Department of Energy shows employment continues to fall in Oklahoma and other states that make up the nation’s oil and gas industry while it is increasing in the renewable energy industry. E&E News reported the new report showed energy sector jobs overall grew by 4% in 2021 with EV …
Step taken toward largest wind farm in U.S.
Another large wind project in New Mexico is in the making—one that would cover 230 square miles of state trust land and be the largest in the U.S. The New Mexico public land commissioner signed about a dozen leases this week to clear the way for the project in Lincoln, Torrance and San Miguel …
Buffett’s Berkshire buys more Occidental shares,
Reports that Warren Buffett and his Berkshire Hathaway Inc. were intent on acquiring Occidental Petroleum took another serious step on Monday. Berkshire Hathaway purchased 794,389 shares of Occident giving the firm a nearly 16.4% share of the Houston, Texas-based oil company. The newest acquisitions occurred on June 17 and again on June 22, according …
Texas fights ozone rules in Permian Basin
Texas is putting up a fight with the Biden administration over the EPA’s ozone rules that could create stricter emission limits on the oil and gas operations of the Permian Basin. Gov. Greg Abbott has started applying pressure on President Biden in opposition to the possible impact as federal regulators are moving ahead with …
Oklahoma joins group fighting EPA’s latest smog plan
Oklahoma was among several states that filed opposition to the plans of the Environmental Protection Agency to adopt a “Good Neighbor Plan” aimed at decreasing emissions of ozone-forming pollution in 26 states. The plan was unveiled by the EPA in February when the agency said it was intended to not only curtail smog pollution …