Stellantis, a provider of innovative mobility solutions and leading global automaker based in Amsterdam, has inked a contract with a company to mine rare earth elements in southeastern Nebraska, according to published reports by Reuters and the Associated Press. Stellantis will use the critical elements to produce high-powered magnets required for its electric vehicles. Colorado-based …
Category: General
OG&E Update on Electric Service Restoration Following July 9 Storms
In the wake of significant overnight storms with 70+ mph winds, OG&E began working to restore electrical service in areas affected by an outage. Field personnel continued to make good progress restoring power to 90% of customers who experienced an outage across its service area. As of 5 p.m. on Sunday, approximately 1,000 customers remain …
Latest IPO in Permian Basin involves two former Ring Energy executives
Two former executives of Texas-based Ring Energy are forming their own company—Rise Oil & Gas. Hart Energy reported that Kelly Hoffman and Daniel Wilson have started laying the groundwork for an IPO of their Permian Basin E&P startup. Hoffman was CEO of Ring Energy and Wilson was Ring’s executive vice president and COO. Click here …
Energy briefs
** The Biden administration announced Friday it’s purchasing 6 million more barrels of crude oil for the Strategic Petroleum Reserve as it continues to slowly refill the emergency stockpile. ** California state air regulators and truck and engine manufacturers said on Thursday they had reached an agreement on state emissions rules that will give companies …
Friday was a strong day for crude oil prices and Oklahoma energy stocks
Friday saw crude oil prices and Oklahoma energy stocks rebound with strong gains—oil climbing nearly 3% to a 9-week high as supply worries and technical buying outweighed concerns of more interest rate hikes in the near future. U.S. benchmark, West Texas Intermediate crude rose $2.06 or 2.9% per barrel to close at $73.86 on the …
1,700 barrels a day from Carter County wells for Continental Resources
Continental Resources recently concluded a 3-well project on a single pad in Carter County with combined production of nearly 1,700 barrels of oil a day. The three Courtbet wells are located at 27 1S 3W, a site about one mile east of Ratliff City and each produced from the Woodford formation. The Courbet 5-27-16xhw produced …
Amazon announces more renewable energy sources
Amazon is spreading its global renewable energy portfolio and recently reached 30 solar and wind projects in the southeastern US including two more solar farms in Arkansas. With five new solar and wind projects, Amazon expects to generate more than 7,500GWh once fully operational. It was last fall when two new solar energy projects …
3,100 barrels a day from 4 Ovintiv wells in Kingfisher County
Just as we suspected, the three-well single-pad project by Ovintiv Inc. reported in Kingfisher County was really a four-well single-pad project located one mile north of Okarche. It turned into four wells producing more than 3,100 barrels of oil a day. A fourth completion report was filed Thursday, one day after the three first …
Crude oil prices were flat in Thursday’s trading
Crude oil prices ended up flat in Thursday’s trading while Oklahoma energy stocks suffered losses for the day, largely because of tighter U.S. crude supplies and a growing likelihood of a coming interest rate hike. West Texas Intermediate crude gained 1 cents to $71.80 a barrel on the New York Mercantile Exchange. It came at …
Two counties in New Mexico account for 29% of Permian Basin crude oil production
Many readers might associate the Permian Basin only to West Texas, but a new report by the U.S. Energy Information Administration shows just how important two counties in southeast New Mexico are to the oil production of the Basin. In southeastern New Mexico, horizontal wells in Lea and Eddy counties drove much of the …