The supply of crude oil at the Cushing hub in northern Oklahoma increased slightly in the past week, reaching more than 30 million barrels of oil. The late petroleum supply report by the U.S. Energy Information Administration showed 30,917,000 million barrels of oil were in storage at Cushing. It compared to 28,917,000 million barrels …
Category: General
EIA predicts lower crude oil prices in December
A lower price for crude oil is in the forecast for the next few months from the U.S. Energy Information Admininstration. In a report this week, the EIA said the smaller expected inventory draw from December 2021 through February 2022 will also contributed to the lower prices. The forecast said global petroleum inventory draws …
More wells completed in Canadian County
Oklahoma’s Canadian County is home to two recently completed oil wells according to new documents supplied by the Oklahoma Corporation Commission. Devon Energy reported completion of the Miller-miller 2_11-12n-9w 3hx located 3 miles south of the town of Calumet at 2 12N 9W. The well had production of 862 barrels of oil a day and 7,897 …
Texas singles out 8 power companies for failing new law
Eight Texas power companies failed to comply with new rules requiring generators to file winter compliance reports with state regulators, according to a report filed by staff of the Public Utilities Commission of Texas on Wednesday. In a press release, the Commission said its staff filed reports of violation against the 8 generation companies …
Rep. Cole seeks more water help for Indian Tribes
Oklahoma U.S. Rep. Tom Cole, one of four Native Americans in Congress who are enrolled tribal members is among a handful of House lawmakers behind a bill to make it easier for American Indian tribes to get access to federal water relief. The Republican Representative for the 4th congressional district joined Reps. Melanie Stansbury (D-N.M.), Teresa Leger …
Friday headlines of other energy stories
** House lawmakers voted 364 to 60 on Wednesday night to pass the The Ocean Shipping Reform Act of 2021, a bipartisan bill aimed at curbing the shipping container crisis. ** The U.S. government plans to end purchases of gas-powered vehicles by 2035 in a move to lower emissions and promote electric cars under an executive order …
New Mexico regulators say ‘no’ to acquisition of PNM Resources
State utility regulators in New Mexico moved this week to reject Avangrid Inc.’s proposed $8 billion acquisition of PNM Resources Inc. The Public Regulation Commission said the risks of the deal by the Spanish energy giant and Avangrid parent Ibeerdrola SA far outweighed promised benefits to state ratepayers reported Reuters. Click here for Reuters.
Options considered by Magellan for its Longhorn pipeline
Tulsa’s Magellan Midstream Partners LP is reported to considering transportation of natural gas or refined products through its Longhorn crude pipeline in the Permian Basin of Texas. The consideration comes as crude oil shipping volumes have declined because of lower production, forcing Magellan to consider how to make up for dropping revenue from its …
US crude oil back to $72 level–OK energy stocks had a ho-hum day
With fears easing over the Omicron variance, crude oil prices made more gains in Wednesday’s trading, settling at more than $72 in the U.S. and nearly $76 in Europe. But it proved to be something of a tepid day for Oklahoma energy stocks. West Texas Intermediate crude for January delivery went up 31 cents …
Earthquake rattled central Kansas
No one’s linking it to any oil and gas drilling or wastewater operations but a 4.3 magnitude earthquake hit central Kansas Wednesday morning. The quake, centered near the town of Gypsum, located just southeast of Salina occurred at 7:45 a.m. central time and according to the U.S. Geological Survey was 1.8 miles deep. The …