A bill by Rep. Jim Shaw to put tighter restrictions on large load electrical customers, specifically data centers, died in the House Utilities Committee this week when a majority of committee members felt it was infringing on property rights. Members voted 2-6 against his HB3724, a measure that would have banned taxpayer-funded subsidies for …
Geopolitics. They spurred a more than 4% jump Wednesday in crude oil prices. They rose largely because of continued talks between the U.S. and Iran and no agreement how to stop the buildup of arms and sabre rattling by Iran. Plus, there was the lack of a breakthrough in the peace talks between Ukraine and …
Hey Oklahoma legislature……wake up! It’s the strong message delivered to the leaders of the state House and state Senate from Brook Simmons, president of the Petroleum Alliance of Oklahoma. He fired off a letter this week explaining that the decisions by Devon Energy and Expand Energy to move their headquarters to Houston, Texas and the …
Ovintiv Inc. is bailing out of Oklahoma’s Anadarko Basin. The Denver, Colorado-based company announced the sale of its Oklahoma assets for $3 billion to an undisclosed buyer. The sale included approximately 360,000 net acres which, according to the announcement, “represents substantially all of the company’s acreage in the play. Hours after the announcement, Ovintiv …
On the fifth anniversary of February 2021’s Winter Storm “Uri,” appeals challenging more than $1.4 billion in bonds and $377 million in rate increases impacting the customers of electric utility companies OG&E and Public Service Company of Oklahoma (PSO) are now in the hands of the Oklahoma Supreme Court. Tuesday, Reps. Tom Gann, R-Inola, Kevin …
A week after announcing plans to move headquarters from Oklahoma City to Houston, Texas, Expand Energy Corporation revealed fourth quarter earnings. The country’s largest natural gas producer said it plans a billion dollars in debt relief this year and the issuance of its 20th straight dividend. It reported its net cash from operating activities totaled …
Crude oil prices fell about 1% on Tuesday as there was headway or progress reported out of the talks between the U.S. and Iran. Plus, there were also U.S.-brokered talks between Russian and Ukrainian negotiations. Iran’s foreign minister Seyed Abbas Araghchi stated, “We were able to reach a general agreement on a set of …
Rep. Brian Hill, R-Mustang, commented on the recent announcements that Devon Energy and Expand Energy will both relocate their corporate headquarters to Texas. Hill, who serves as chair of the House Commerce and Economic Development Oversight Committee, emphasized the importance of continuing to diversify Oklahoma’s economy. “The focus of the House Commerce and Economic …
Disappointing yes. Discouraging….maybe not. It’s the suggestion from Oklahoma Gov. Kevin Stitt to the surprising decisions by Devon Energy and Expand Energy to move headquarters to Houston, Texas. Interviewed recently by KOCO TV News, he explained his reaction. “When you hear about things like that, it’s disappointing. But that’s why it’s important to have …
The Ogallala water aquifer that runs through the Oklahoma Panhandle is now the target of use restrictions to farmers to the north in southwest Kansas. It’s a move that could impact water use by farmers and others in the Oklahoma Panhandle. Managers of the historic source of water used for farming, dairy, beef and biofuels …
