The Oklahoma City Water Utilities Trust, in coordination with the U.S. Army Corps of Engineers, is moving forward with the scheduled release of water from Canton Lake to replenish critical water levels in Lake Hefner, a primary water source for Oklahoma City and seventeen other cities and rural water districts served by the Water …
Category: General
Controversial Kiamichi River project subject of a legislative study
The hydroelectric power project on the Kiamichi River we’ve reported on for the past several months ws the topic of an Oklahoma House committee interim study on Wednesday at the Capitol. It was held by Reps. Eddy Dempsey, R-Valliant, and Justin Humphrey, R-Lane, before the House Energy and Natural Resources Committee. Dempsey and Humphrey said the …
Crude oil prices rebounded Wednesday—so did Oklahoma energy stocks
After a few days of disastrous drops in prices, crude oil experienced a more than 2% rebpound in Wednesday’s trading. The bounce-back came after new data showed U.S. crude inventories had a surprise drop compared to last week’s crude stock information. Plus, prices were affected by reports that OPEC+ might delay its planned oil output …
Cushing sees gain in crude oil while US count declines
The nation’s amount of crude oil stocks declined in the past week while the total held in storage at Oklahoma’s Cushing Hub increased. The latest U.S. Energy Information Administration report on crude stocks showed Cushing increased its total in crude oil by 700,000 barrels. The report showed Cushing held 25.4 million barrels as of …
Williams seeks FERC approval for gas pipeline expansion
Williams Cos. is asking approval of federal regulators for a 54-mile natural gas pipeline in North Carolina and Virginia that’s part of a planned gas infrastructure buildout across the Southeast. The request by the Tulsa-based company was filed with the Federal Energy Regulatory Commission seeking permission to construction a methane gas pipeline for Virginia …
Energy briefs
** Ford’s chief executive revealed that he drives a $30,000 Chinese-made electric sedan — and got ripped by critics, who called it a “slap in the face” to employees of the Detroit-based automaker. Farley, who has been CEO of Ford since October 2020, said he drives a Xiaomi SU7, an electric sedan that retails for $30,000 that he had …
Energy Transfer announces increased cash distribution on shares
Ahead of its release of third quarter earnings, Energy Transfer announced an increase in its quarterly cash distribution. The Dallas company, which merged 3 years ago with Oklahoma’s Enable Midstream Partners, said the new cash distribution is $0.3225 per share or $1.29 on an annual basis. This cash distribution per Energy Transfer common unit …
ALLETE Clean Energy sells a Wisconsin wind farm
ALLETE Clean Energy, part of US energy company Allete Inc. and the owner of two Oklahoma wind farms, including its biggest in Johnson and Pontotoc Counties, announced the sale this week of another wind project in southwestern Wisconsin. ALLETE sold the Whitetail wind project to Invenergy. It acquired the project three years ago and …
Big slide in earnings for Phillips 66 in 3Q
Phillips 66 third quarter earnings took a punch to the face, tumbling from $1 billion in the second quarter to $346 million. The Houston-based company said its adjusted earnings were $859 million versus $984 million in the previous quarter. Part of the drop was related to the $41 million in costs of the planned …
Largest container ship handled at Port of Houston
(Business wire) The Port of Houston recently handled its largest vessel ever to date—a 11,356 TEU (twenty foot equivalent unit) ship named the Cassiopeia. It took two days for 7,327 moves to be completed or about 31 per hour. The Port Commission of the Port of Houston Authority has an ongoing Houston Ship Channel …