Another fight between West Virginia Sen. Joe Manchin and the White House over its green energy push is brewing and it involves clean hydrogen. Hydrogen is a growing topic in Oklahoma and other states where hydrogen hubs are being proposed, thanks to funding from the federal government. At the heart of Manchin’s growing opposition …
Category: General
Opponents look at railway tunnel to stop oil shipments through Colorado
Opponents of a planned rail shipment of oil from Utah through Colorado and eventually to the Cushing Hub of northern Oklahoma think they have discovered a way to stop the project. It involves the state-owned Moffat Tunnel which is leased by Union Pacific for $12,000 a year. The rail company’s 99-year lease to use …
Regulators to consider possible ratemaking changes
Oklahoma Corporation Commissioners will meet this week to consider exploring alternative ratemaking methodologies for electric public utilities. It is the main item on the agenda for the 1:30 p.m. meeting. As posted, the issue is listed as PUD 2023- 000066, Inquiry of the Oklahoma Corporation Commission to Examine Alternative Ratemaking Methodologies for and Issues …
Earnings reports from Oklahoma energy companies to be released this week
It’s a big week for many of the energy companies as they release their latest earnings reports. Devon Energy, Gulfport and Chesapeake Energy are among some of the Oklahoma oil and gas firms that will release their reports Tuesday. Tulsa-based Williams will report its earnings on Wednesday. Others such as Occidental Petroleum, ConocoPhillips, Phillips 66, EOG Resources, Pioneer Natural …
Loss of drilling rigs continued in Oklahoma and across the nation
Oklahoma and the U.S. continued their slow decline in the number of oil and gas rigs in the past week, according to the latest report from Baker Hughes Co. It means more drilling rigs are in storage or awaiting possible new drilling assignments. The state count fell one to 39, far from the 64 …
Defense bill includes $170 million in funding for Oklahoma military installations
The U.S. Senate’s recent approval of the Fiscal Year 2024 National Defense Authorization Act resulted in more than $170 million for Oklahoma’s military installations. “I’m glad that we were able to land significant victories for our state and our country in this year’s NDAA,” said Sen. Markwayne Mullin in referring to the funding for …
Energy quick reads
** U.S. regulators approved proposals to speed up the connection of new power projects to the electric grid, reforms that could ease a growing backlog of requests from wind and solar energy developers. Today there is more than 2,000 gigawatts of renewable power waiting to be connected to the grid — nearly double the amount …
Civeo reports lower 2Q earnings
Civeo Corporation, the man-camp provider reported a decline in second quarter revenue and blamed lower Canadian LNG-related lodge occupancy and mobile camp activity. In the second quarter of 2023, Civeo generated revenues of $178.8 million and reported net income of $4.5 million, or $0.30 per diluted share. During the second quarter of 2023, Civeo …
Cash distribution announced by Alliance Resource Partners
Alliance Resource Partners, L.P. announced that the Board of Directors of ARLP’s general partner approved a cash distribution to its unitholders for the quarter ended June 30, 2023 (the “2023 Quarter”). ARLP unitholders of record as of the close of trading on August 7, 2023 will receive a cash distribution for the 2023 Quarter …
California firm reports significant well near Tishomingo, Oklahoma
It isn’t everyday a large producing oil well is reported in Oklahoma’s Johnston County, but California-based Bnk Petroleum Inc. filed a completion report this week on a well with 820 barrels of oil a day in production. The Brock 9-3h also had 586 Mcf of natural gas from a drilled depth of 14,883 feet …