The Oklahoma Senate has given unanimous approval to a bill calling for an increase of surety bonds offered by oil and gas exploration firms to cover the cost of plugging abandoned wells in the state. Senate Bill 1368, authored by Sen. Zack Taylor, R-Seminole was approved on a 44-0 vote and sent to the …
Category: General
Energy Transfer next to build Permian pipeline?
Leaders of Texas-based Energy Transfer LP suggest the firm will likely be the next company to build a pipeline to transport growing amounts of natural gas production from the Permian Basin to export hubs on the Gulf Coast. It’s what Energy Transfer Co-Chief Executive Thomas Long told analysts during a recent conference call. He …
Crude prices fall as interest switches from Ukraine crisis to Iran talks
Since Russia didn’t invade Ukraine this week as some observers had predicted, interest switched to the Biden administration’s resurrection of a nuclear deal with Iran, causing a 2% drop in crude oil prices. Analysts suggests such an Iranian deal, reversing the tough sanctions of the Trump administration might unlock more crude supplies to the …
Supreme Court invites Attorney General to intervene in OGE bond case
The $800 million ratepayer bond case involving 2021 winter storm costs for Oklahoma Gas & Electric took another turn this week—one brought on by the Oklahoma Supreme Court where the matter was challenged by some ratepayers and could now face more delays. The high court on Wednesday filed a one-page order allowing for Oklahoma …
ONE Gas hopes to attract more investors
ONE Gas plans to make an effort to attract more investors when company executives take part later this month in the Morgan Stanley Energy and Power Conference. It will be held Monday, Feb. 28, 2022 in New York City. Robert S. McAnnally, president and chief executive officer, Caron Lawhorn, senior vice president and chief financial …
No love at the gas pumps this week
Triple A was right this week when it said motorists didn’t find “love” at the pumps—a cute play on words for Valentine’s Day. Unless you drove into a Love’s convenience store. Oklahoma motorists saw a 6-cent jump from a week ago in prices at the pump as the state’s average reached $3.20 a gallon. …
U.S. rig count grows again with big jump in Permian
The U.S. rig count increased by three in the last week to 729 as of Feb. 17, according to Enverus Rig Analytics, putting it 3% above where it was a month ago and up 65% YOY. The daily count reached as high as 740 during the week, compared to a peak of 734 during …
Tie House vote kills New Mexico clean fuel standards bill
It was literally the middle of the night when New Mexico legislators in the state House came up with a tie vote, thus failing to create a clean fuel standard in the state. The House was deadlocked 33-33 on the bill after 10 Democrats, many from rural parts of New Mexico joined every Republican …
Witness warns Inhofe that Biden EPA plan is a recipe for disaster
A witness testifying before a Senate Committee hearing this week told Oklahoma U.S. Sen. Jim Inhofe there’s no doubt that if the Biden administration denies small refinery exemptions from biofuels mandates, it will result in even higher gasoline costs. It’s what LeAnn Johnson Koch, Partner, Perkins Coie, LLP told the Senator during a hearing …
More energy headlines
** Republican U.S. Bill Cassidy of Louisiana said on Wednesday he is blocking President Joe Biden’s nominees for environmental regulatory positions in a bid to win permission for his state to regulate storage of the primary gas blamed for climate change. It will prevent Senate floor votes on nominees at the Environmental Protection Agency. ** Colgate Energy, …