The environmental organization named WildEarth Guardians is out with a critical report about New Mexico’s “ongoing failure to manage” the oil and gas industry’s “mounting toxic waste crisis.” In its inaugural Oil & Gas Waste Watch quarterly report, the group claimed there were 307 oil and gas spills, or an average of one spill every …
Category: General
Near record rainfall so far in April across Oklahoma
Oklahoma Mesonet Climatologist Gary McManus says the lack of rainfall in the northwestern part of the state along with the Panhandle is keeping this month from becoming a record amount. Writing Wednesday in his latest Mesonet update, McManus pointed to the previous statewide rainfall record for April was 8.32 inches in 1942. “We’re in …
Ascent Resources announces results of tender offer
Ascent Resources, LLC announced final results of its Dutch auction tender offer to buy up to $25 million in some of its common unit, showing 3.5 million units tendered at a purchase price of nearly $82 million. Ascent Resources, LLC announced the final results and expiration of its previously announced “unmodified reverse Dutch auction” …
Senator says bill would bring an end to ESG fight between Treasurer and AG
The constitutional challenge of Oklahoma’s Energy Discrimination Elimination Act, the law targeting companies and their ESG policies discriminating against oil and gas, prompted some legislators to propose changes. The challenge, now in the hands of the Oklahoma Supreme Court, also led to a fight between Treasurer Todd Russ and Attorney General Gentner Drummond. Senate …
Energy briefs
** Vaquero Midstream, a natural gas gathering and processing midstream company operating in the Delaware Basin, announced plans for two major system expansion projects – a new 70-mile 24-inch high-pressure pipeline loop and a 200 million cubic feet per day (MMcf/d) cryogenic processing plant to increase Vaquero’s gathering capabilities from the state line area down …
Bill to Streamline Sale of State Railroad Assets Heads to Governor’s Desk
Legislation carried by Rep. Dell Kerbs, R-Shawnee, to modernize the process for selling state-owned railroad assets passed the Oklahoma House of Representatives by a vote of 81-8. Senate Bill 341 directs the Oklahoma Department of Transportation (ODOT) to initiate a request for proposals process for the sale of any railroad assets owned by the …
Crude oil prices hit $60 a barrel in the US
Crude oil prices dropped nearly 2% on Tuesday with the end result being $60 oil arrived in the U.S. Both West Texas Intermediate and Brent crude fell to a two-week low as investors continued exhibiting concerns about OPEC+ and its plan to boost oil output along with the Trump administration’s tariffs. The two benchmarks …
ONEOK’s 1Q earnings were higher than a year ago but behind the previous quarter
ONEOK recorded higher first quarter earnings of $691 million in net income or $1.04 per share compared to a year ago, but below the earnings of the previous quarter. ONEOK recorded improved earnings in the first quarter, revealing $691 million in net income or $1.04 per diluted share. The company had adjusted …
Expand Energy plans to build on 2025 drilling efforts
Expand Energy Corporation released first quarter financial results showing more than $1 billion in net cash from its operating activites but also a net loss of $249 million or $1.06 a share. The Oklahoma City company recorded adjusted net income of $487 million or $2.02 per share. While the net cash from operating …
Wind farm opponents circulate study
Opponents of a proposed wind farm near Arcadia are disseminating a study about the proposal. The study, launched in 2017 by the Southwest Power Pool grid and not conducted until 2023 determined the connections necessary to provide electrical power would cost $13.5 million. Click here for News 9