Oklahoma City’s Devon Energy has invested more funds into geothermal development, helping Houston’s geothermal company Fervo Energy raise $244 million in its latest funding round. The funds will finance the geothermal company’s next phase of growth as it puts to use oil and gas technology and techniques to scale geothermal energy. “Demand for …
Category: General
Dismal fourth quarter for Mammoth Energy Services
In announcing its fourth quarter financial report, Oklahoma City’ Mammoth Energy Services, Inc. also stated it received another payment of $50.6 million from the Puerto rico Electric Power Authority for work Mammoth performed following the 2017 Hurricane Maria. Mammoth called the payment a “portion” of what it was owed in disputed costs through its …
Crude oil prices gained while natural gas fell in Friday’s trading
Investors await Monday’s trading to see if crude oil prices might continue their gain following Friday’s 2% increase for prices. The increase came as traders waited on an OPEC+ decision on second quarter supply agreements. At the same time, natural gas prices in the US continued their slow tumble downward. US prices, West Texas Intermediate, …
House Committee approves bill exempting Corporation Commission from Public Meetings Act
A House bill to allow Oklahoma Corporation Commissioners to meet and discuss certain issues without declaring a public meeting under Oklahoma’s Open Meetings Act won unanimous support recently in a state House Committee. Approval came after the sponsoring legislator made some claims that appeared to be inaccurate regarding support from commissioners and their …
Arkansas River improvements bill wins committee approval in legislature
The Oklahoma Senate has been sent a bill to provide $67 million for improvements to the Arkansas River levee system. Approval of Sen. Cody Rogers’ Senate Bill 1391 was n the Senate Appropriations Committee. The bill proposed appropriating the millions to the Oklahoma Water Resources Board. “It’s incredibly important that this funding is secured …
Energy quick reads
** The Biden administration announced it would delay part of its signature climate plan to slash planet-warming pollution from the power sector. The Environmental Protection Agency said it would carve existing gas plants out of a proposed regulation to cut emissions from power plants. ** The Biden administration finalized energy efficiency regulations targeting residential clothes washers and dryers …
Crude oil prices slipped Thursday over latest US economic news
Crude oil prices lipped on the last day of February after inflation data in the U.S. suggested a softening of the ecocnomy might weaken demand for crude. Plus, investors are worried that OPEC’s growing production might affect prices. In the US, West Texas Intermediate dropped 28 cents and settled at $78.26 a barrel on …
Compromised ROFR bill wins Oklahoma House Approval while opponents argued it means more power for utilities
The ROFR bill that Lawton Rep. Trey Caldwell said was not a ROFR bill won approval Thursday in the State….the measure giving an apparent compromised version of the right of first refusal in construction of major transmission lines. The measure finally hit the House floor where Caldwell spent time being peppered by questions from mostly …
Legislators have yet to hear how much a renewable energy tax would raise in Oklahoma
The tax bill targeting Oklahoma’s renewable energy industry has yet to make it to the floor of the State House a week after Speaker Charles McCall proposed the measure in response to a lack of movement on the Right of First Refusal power for utilities. The House Impact study on fiscal impact of the …
Wildfire moves from Texas Panhandle to Oklahoma and burns a million acres and leaves one dead
A million acres have been burned in the Texas Panhandle wildfires after they crossed over into western Oklahoma this week. One elderly woman was killed in the fires in Texas. The Oklahoma Forestry Division stated Thursday that only 3% of the Smokehouse Road Fire in the two states had been contained and it burned …