Oil company executives surveyed by the Federal Reserve Bank of Dallas predict there will be a decline of US oil production—-if the corporate-acquisition spree continues across the shale sector. More than 50% of them said they see lower domestic crude output, especially if the consolidation of oil and gas firms continues for the next …
The parent company of Public Service Company of Oklahoma just got a new President. American Electric Power’s Board of Directors has elected William J. “Bill” Fehrman as president and chief executive officer, effective Aug. 1, 2024. Fehrman, 63, is AEP’s 13th president and ninth CEO in the company’s 118-year history. He will succeed Ben Fowke, …
The gap between the price you pay for your new or used internal combustion engine vehicle and an EV is shrinking. The demand is off despite federal government incentives. The average price of a new EV in May was $56,648, a drop of 15% from two years ago. Used EV prices have cratered by 42% …
Members of the Oklahoma Corporation Commission have decided they need more time for research before ruling on a request from Public Service Company of Oklahoma. PSO had asked the Internal Revenue Service to rule on a deferred tax expense program two years ago. The utility finally got a response recently. If the OCC approved the …
Oil prices settled a little higher Wednesday despite an unanticipated increase in US gasoline supplies. Brent crude futures were up 24 cents to settle at $85.25 per barrel. West Texas Intermediate crude futures settled at seven cents higher at $80.90 per barrel. Rising tension between Israel and Hezbollah in Lebanon have worried investors that an …
The U.S. saw a gain in crude oil stocks while the amount held in storage at Oklahoma’s Cushing Hub declined. The U.S. Energy Information Administration reported the U.S. saw a gain of 3.6 million barrels of crude oil, from 457.1 million barrels recorded on June 14 to 460.7 million barrels as of June …
(courtesy KFOR TV) Severe storms including 80 mph damaging winds, hail and heavy rainfall moved through OG&E’s service area overnight Tuesday causing downed power lines, broken power poles, and damage to cross arms and other equipment attached to poles. As of 12 p.m. Wednesday, approximately 55,000 customers were without service due to the storms. …
The nation’s heat wave just sent natural gas prices into a negative zone in Texas as they fell below zero for the first time since May. It means there was an unexpected demand for natural gas to keep electricity produced. According to Reuters, pipe maintenance trapped gas in the Permian Shale even as demand for …
Phillips 66 says it’s become a leader in renewable fuels with the full conversion of its Rodeo Renewable Energy Complex in the San Francisco Bay Area. It means the company expanded its commercial-scale production as it increased rates to nearly 50,000 barrels a day or about 800 million gallons a year and achieved its …
With operations in Oklahoma’s SCOOP and STACK plays, Houston’s Nine Energy Service prepares a release of its second quarter earnings report. The information will be released on Tuesday, August 6 before a 9 a.m. central time conference call where the results will be discussed by company leaders. Nine Energy experienced a first quarter net …
