Colorado leaders have taken their fight against a proposed oil by rail project through their state to the U.S. Supreme Court. They’re fighting the 88-mile Uinta Basin Railway, a multibillion dollar plan to ship oil from the Uinta Basin of Utah through Colorado and eventually to places such as Oklahoma’s Cushing Hub. Colorado …
Category: General
ONEOK announces higher third quarter earnings
Earnings rose for ONEOK, Inc. in the third quarter of the year. The company announced higher third quarter 2024 results and provided 2024 financial guidance on a consolidated basis that includes contributions from EnLink Midstream and the pending Medallion Midstream acquisition. ONEOK also increased its 2024 financial guidance on a stand-alone basis to be comparable …
Expand Energy earnings report released showing 3Q loss
Despite a $114 million or 85 cent a share loss in the third quarter, Nick Dell’Osso, Expand Energy’s President and Chief Executive Officer called it a strong quarter. Nearly a month after Chesapeake Energy’s merger with Southwest Energy was completed, the company released its third quarter earnings report showing $422 million in net …
Corporation Commissioner David chosen as officer of Southwest Power Pool committee
Oklahoma Corporation Commissioner David was elected this week to serve as an officer on a Regional State Committee of the Southwest Power Pool, the 14-state electric grid that includes Oklahoma. She was chosen secretary/treasurer at the groups’ quarterly meeting held in Little Rock, Arkansas. Her new term on the Regional State Committee will begin …
Crude oil prices dropped again on Tuesday but nothing like Monday’s plunge
A day after crude oil prices dropped more than 6%, they still suffered a decline on Tuesday but only a small one. After word spread that perhaps there might be a de-escalation of Israel’s Lebanon offensive, prices edged lower. To some energy traders, it might have been a sigh of relief. US benchmark, West …
OGE rate hike to be considered by Oklahoma regulators
Oklahoma Corporation Commissioners could sign off on the latetst rate hike requested by Oklahoma Gas and Electric….the $126.6 million increase that originally started as a $332.5 million increase filed last year. Commissioners will meet Wednesday to consider the issue (PUD2023-000087) that saw several consumer groups oppose the original request for a nearly 14% increase …
SPP plans on nearly $8 billion in transmission projects
Brace for bigger and more transmission projects in the coming years from the Southwest Power Pool. After more than two years of studies, the SPP is moving ahead with $7.7 billion in transmission projects. It is considered the largest portfolio of such projects in the history of the SPP, the 14-state electric grid that includes …
House hearing scheduled for Wednesday into Kiamichi River hydroelectric project
An Oklahoma House Committee will hold its hearing and investigation Wednesday into the proposed hydroelectric project on the Kiamichi River. Reps. Eddy Dempsey of Valliant and Justin Humphrey of Lane asked for the hearing to be held by the House Natural Resources Committee following a grow list of opponents to the $3.1 billion project …
Canoo takes another $1.1 million in financing
EV manufacturer Canoo has yet to announce a release date for its third quarter earnings report, but filings with the Securities and Exchange Commission reflect how the firm’s CEO has advanced another $850,000 to keep the company afloat. That’s on top of another loan of $270,000, making for a total of $1.1 million in …
Xcel Energy hit with giant insurance rates following deadly fires in Texas and Colorado
Facing hundreds of lawsuits in Colorado over a fire that burned more than a thousand homes as well as litigation from the monster wildfire that burned a million acres in the Texas Panhandle and western Oklahoma, Xcel Energy says its insurance premiums have soared nearly 400% in the past year. As the utililty …