The U.S. rig count fell by seven in the last week to 694 as of Jan. 19, according to Enverus Rig Analytics. However, during the last week the daily count reached as high as 708 compared to a maximum of 705 the prior week. The largest week-over-week declines occurred in the Gulf Coast (minus …
Category: General
Another challenge is made to the OGE storm funding measure at Supreme Court
The list of legal challenges has grown to the Oklahoma Development Finance Authority’s legal request of the State Supreme Court for a decision on OG&E’s $739 million in February 2021 storm costs. Yet another protest filed this week. Gail and Larry Foster of Edmond filed theirs on Jan. 19, one day after a second former …
ONG storm cost review delayed by Oklahoma regulators
Oklahoma regulators on Thursday delayed their handling of the nearly $1.3 billion securitization request of Oklahoma Natural Gas until January 25. The request for a delay was announced Thursday morning by Oklahoma Corporation Commission chair Dana Murphy. Commissioners agreed to continue the hearing until 2:30 p.m. on Tuesday, January 25. The hearing on ONG’s …
Kingfisher County is home to more big Ovintiv wells
Ovintiv USA Inc. reports two more large producers in Kingfisher County, an area that has been a proven sweet spot for the company. In a recent filing with the Corporation Commission, Ovintiv reported production from two wells on a single pad totaled nearly 2,800 barrels a day. Whether the two wells were the only …
Continental Resources expands Powder River acquisitions
A published report indicated that Oklahoma’s Continental Resources has expanded on the acquisition it made last year in Wyoming’s Powder River Basin. Hart Energy reported this week that Continental CEO William Berry confirmed the company had acquired another 85,000 acres on top of the 130,000 acres it bought from Samson Resources II of Tulsa in …
Other energy headlines on Friday
** The Biden administration stands ready to deploy its tools to address the latest increase in oil prices, a spokeswoman for the National Security Council said this week. ** Electric vehicle charging and equipment company Blink plans to supply Level 2 chargers at General Motors dealerships in the U.S. and Canada. ** South Dakota lawmakers advance legislation that would …
Could BNSF be hit by a strike? Railway tries to head it off
BNSF railroad, the company with operations throughout Oklahoma has gone to federal court seeking a judge’s order to prevent two unions from striking net month. BNSF is headquartered in Fort Worth, Texas but is considered to be owned by Omaha, Nebraska billionaire Warren Buffett’s Berkshire Hathaway Company. Two unions say up to 17,000 workers …
Enviro groups want end to oil and gas production on federal lands
More than 300 environmental and tribal organizations are petitioning President Biden to totally phase out oil and gas production on federal land by 2035. The coalition of the groups contends the administration has the legal authority to do it, reported The Hill. Click here for The Hill
Chesapeake Energy nears deal to buy Chief Oil and Gas
Reuters reports Oklahoma City-based Chesapeake Energy Corp. might be close to a $2.4 billion acquisition of privately owned natural gas producer Chief Oil & Gas. Chief Oil & Gas, headquartered in Dallas, was founded and still controlled by Texan Trevor Rees-Jones. Click here for Reuters.
US crude inches closer to $90 but Oklahoma energy stocks aren’t helped
Crude prices in the U.S. made a push closer to the $90 mark on Wednesday. But it didn’t do much to help Oklahoma energy stocks as most recorded losses for the day. West Texas Intermediate crude for February delivery reached $86.96 a barrel after a $1.53 or 1.79% increase in trading on the New …