The Electric Reliability Council of Texas (ERCOT) has announced that by the end of this month, they’ll have inspected more than 300 power generation plants making sure they weatherized to beef up the electric grid in the state. TV stations KTSM and KVUE reported it’s part of the governor’s efforts to reassure residents that …
Category: General
ConocoPhillips announces preliminary 2022 Capital Expenditures budget
ConocoPhillips on Monday announced several updates that highlight the company’s differentiated value proposition including more than $7 billion in 2022 capital expenditures. This announcement follows the recent closing of the company’s acquisition of Shell’s Permian Basin properties on Dec. 1 for net cash of $8.6 billion. The announcement reflects the addition of Shell’s Permian …
Xcel Energy hedges against gas cost to save on bills
Months after the catastrophic winter storm energy crisis, Xcel Energy announced hedging steps to cut the impact of high natural gas prices this winter. The Amarillo Globe News reported the utility company said it is leaning on other power generating sources to maximize the efficiency of its power plants running on natural gas. Click …
COVID variant affects World Petroleum Congress in Houston
The spread of the Omicron COVID-19 variant is affecting the attendance at this week’s World Petroleum Congress underway in Houston. Reuters reported there is a “sharply trimmed roster” of energy executives and government ministers gathered to deal with the oil market’s future. Click here for Reuters.
Drilling activity remains steady across Oklahoma and US
The latest Baker Hughes Co. rig report showed no gain nor loss in the number of oil and gas rigs across the U.S. At the same time, Oklahoma’s numbers were the same as the previous week—44 rigs. The national count was unchanged at 569 rigs including 469 oil drilling rigs and 102 gas rigs. …
Beall joins Petroleum Alliance staff
The Petroleum Alliance of Oklahoma has named Keith Beall as its senior vice president of government affairs and public policy. In his new role, Beall will lead The Alliance’s advocacy efforts on behalf of the state’s oil and natural gas industry at the state legislature and in Washington, D.C. Beall was most recently the …
Energy news headlines on Monday
** Virginia panel denies air permit to Mountain Valley Pipeline extension. The 75-mile extention had been expected to be completed and in service sometime in 2023, a year after the hoped-for operation date of the larger Mountain Valley Pipeline. ** Helium prospecting is picking up in north-central Montana with Canadian companies expanding south after years of development in …
Energy Transfer completes acquisition of Enable Midstream
Dallas-based Energy Transfer LP and Oklahoma City-based Enable Midstream Partners, LP announced the completion of their previously announced merger. The terms of agreement were approved earlier this year by Enable’s two largest unitholders, CenterPoint Energy, Inc. and OGE Energy Corp. , which together owned approximately 79% of Enable’s outstanding common units. Effective with …
CenterPoint Energy begins exit of Midstream following Energy Transfer’s completed acquisition of Enable Midstream Partners
CenterPoint Energy, Inc. in Houston announced it is taking steps to reduce the company’s midstream exposure following the completion of Enable Midstream Partners, LP’s merger with Energy Transfer LP. CenterPoint’s 53.7% of Enable common units converted into 201 million ET common units. The settlement of CenterPoint’s previously announced contingent forward sale for 50 million …
Oil refiners to face expanded biofuels mandates?
The Biden Administration’s EPA could announce this week an expansion of the kinds of renewable fuel production processes eligible to get credits under the U.S. Renewable Fuel Standard program. Reuters reports the highly anticipated proposal will also mandate the amount of biofuels that oil refiners will have to blend into their fuel mix. …