The expansion of Russia’s war against Ukraine prompted crude oil prices on Friday to soar to nearly $116 a barrel while the global benchmark in London hit $118. Some Oklahoma energy stocks also made sky-high gains. West Texas Intermediate crude for April delivery went up $8.01 on Friday and settled at $115.68 a barrel …
Category: General
Attorney General accused of being a “spectator” in OGE bond case
Oklahoma Attorney General John O’Connor is being accused of neglect of duty for not standing up for ratepayers in the growing Supreme Court legal case involving OG&E’s nearly $800 million storm recovery effort involving ratepayer backed bonds. Former legislator Porter Davis, who previously had filed a protest with the Supreme Court after the Oklahoma …
Lankford accuses Biden administration of stalling energy production
Senator James Lankford (R-OK) went to bat for American energy producers against federal regulators on the Federal Energy Regulatory Commission who Lankford says are part of the Biden Administration’s effort to further stall—and stop—American energy production and American energy independence at the same moment Russia is using its energy production as a weapon. Lankford questioned witnesses …
Other energy headlines
** The Biden administration is considering following Canada in barring Russian ships from U.S. ports, a government official said this week. A White House spokeswoman said no decision has been made. ** Biden administration officials pressured some Democratic senators not to support bipartisan legislation by Sens. Joe Manchin (D-W.Va.) and Lisa Murkowski (R-Alaska) that would ban oil and …
SandRidge to release 4Q earnings report
The fourth quarter and full year 2021 earnings of SandRidge Energy will be released this week. The Oklahoma City energy company announced it will make the release on Wednesday, March 9 after the close of trading. SandRidge also plans to provide an updated investor presentation and make it available on the company website. SandRidge …
High oil prices aren’t attracting new drilling nationally
Even though oil prices are easily more than $100 a barrel, American oil and gas exploration companies aren’t jumping whole-hog into expanding their efforts. Witness the latest rig count issued by Baker Hughes which indicated Friday, Oklahoma’s numbers slipped by 2 to 49 active rigs while nationally, the count was unchanged from a week …
Reuters identifies Panasonic as “mystery” company
Another report indicated it is Panasonic that is the firm looking at Oklahoma or Kansas as the site of a multi-billion dollar plant to be located and bring thousands of new jobs to where ever it is located. Reuters reports that public broadcaster NHK reported Friday Japan’s Panasonic Corporation is looking to locate either …
Gas pump prices soar in Oklahoma over Russian fighting
Faster than you can say “Vladimir Putin,” gas prices are soaring in Oklahoma as state drivers on Friday saw a 9-cent jump in one day to an average of $3.45 as the world watches in horror to what the Russian leader is doing to Ukraine. The growing bloody fighting in the Texas-sized country, where …
Colorado driller hesitant to pour more money into expanded exploration
Colorado drilling giant PDC Energy’s leaders say despite the jump in oil prices over the Russian invasion of Ukraine, they don’t plan on a large expansion of exploration. Instead, following the suit of many other energy companies, they intend to focus on ensuring money in the pockets of company investors reported Colorado NewsLine. Click …
New Mexico regulators say AG is wrong
New Mexico’s Public Regulation Commission is standing up to allegations from the state’s Attorney General that it is not pursing the public interest. AG Hector Balderas, who has been at odds with the regulators over recent issues sent a letter to them this week expressing concern whether the state will have adequate power during …