As the number of oil and gas rigs active in Oklahoma was unchanged last week, the nation’s count increased by 7 to a total of 740 and every one of the additional 7 was in New Mexico. A Baker Hughes report on rig activity showed Oklahoma stayed at 59 rigs and Texas was unchanged …
Category: General
Gulfport Energy concludes annual shareholders meeting
The annual meeting of shareholders in Oklahoma City-based Gulfport Energy was held recently. It was held by remote communication during which shareholders voted on three proposals. Timothy J. Cutt, David Wolf, Guillermo Martinez, Jason Martinez and David Reganato were elected to serve as the company’s directors until the 2023 annual meeting of stockholders. Shareholders …
Helmerich and Payne reaches out to attract more investors
Helmerich and Payne, Inc. of Tulsa will attempt to get new investors during a presentation this week in New York City. Its executive leadership will take part in the J.P. Morgan 2022 Energy, Power & Renewables conference on Wednesday and Thursday, June 22-23. John Lindsay, President and Chief Executive Officer along with Mark Smith, …
Gold King mine spill results in $32 million for state of New Mexico
The foul-up by the EPA in causing the Gold King mine spill nearly seven years ago means $63 million in taxpayer’s money will go to the state of New Mexico and the Navajo Nation. The mine spill began near Silverton, Colorado and the polluted water eventually made its way into rivers and streams in …
OGE rate hike case turning into unusual event
When an Administrative Law Judge of the Oklahoma Corporation Commission holds a June 27 hearing on the $163.5 million rate hike request, it promises to be something of a rare event. Two joint stipulations and settlement agreements regarding the request will be considered, something that long-time observers of the Corporation Commissioners haven’t seen in …
Oklahoma oil and gas group attacks OGE’s rate hike request
In opposing Oklahoma Gas and Electric company’s $163.5 million rate hike, the state’s largest and most influential oil and gas group said regulators should not approve such an increase until the utility fulfills its pledge to correct inadequate planning and preparation it had for the February 2021 winter storm Uri. It also heavily criticized …
Crude settled to four-week low on Friday—OK Energy stocks suffered
Concerns that major central banks in the U.S. might hike interest rates and slow the world economy sent crude oil prices on Friday tumbling nearly 6% to a four-week low. It also was a sore day for Oklahoma energy stocks as some slid by 10%. Now the question is, whether prices and the energy stocks …
Scramble by renewable energy developers in eastern Colorado
Excel Energy’s recently approved $1.7 billion Power Pathway transmission line project is reportedly causing a land rush of sorts in eastern Colorado. Some ranchers and farmers call it the new “cash crop” as wind and solar developers scramble to lock up land for their projects reported the Colorado Sun. Click here for Colorado Sun …
Headlines of US and World energy news stories
** Americans are “really, really down” after two years of a pandemic and amid rising gasoline prices but the economy is in better shape than many think, President Joe Biden said in a recent interview with the Associated Press. ** The Biden administration is working to finalize a meeting between Energy Department officials and oil companies that is …
Fort Worth energy firm raises $1.7 billion for Permian acquisitions
It’s being called one of the largest pools of capital raised and dedicated to oil and gas development in the Permian Basin since the 2020 pandemic—more than $1.7 billion from investors. Double Eagle came up with the fund for its latest venture reported Reuters. The company has made some of the most acquisitions in West …