A $7.6 billion deal just created the largest oil and gas producer in Colorado. Chevron Corp. is buying PDC Energy and assuming PDC’s debt of more than $1 billion. In return, Chevron will also get 275,000 acres adjacent to the company’s holdings in the Denver-Julesburg Basin in northern Colorado’s Weld County reported The Colorado …
Category: General
Wyoming to get a $14 billion oil refinery? Or is it just a rumor?
Wyoming state leaders are wondering if the rumors are true that their state might be picked as the site for a proposed new $14 billion refinery. Gov. Mark Gordon’s energy czar, Randall Luthi talked of the rumors at a recent Joint Minerals, Business and Economic Development Committee meeting. The Cowboy State Daily reported Canadian businessman …
Rep. Lucas welcomes Energy Department decision over Chinese Communist ties
A “win for taxpayers and American businesses,” is the reaction of Oklahoma Congressman Frank Lucas to the U.S. Energy Department’s decision to withhold a $200 million grant to lithium battery company Microvast Holdings because of its alleged links to China’s government. Rep. Lucas was one of two lawmakers who wrote Energy Secretary Jennifer Granholm …
Corporation Commissioner expresses concerns about Biden’s “overreach” of energy development
Oklahoma Corporation Commissioner Kim David wants Oklahomans to know she is a firm believer of the premise of “all of the above” energy development in the country. Writing an opinion piece this week in the Oklahoman, the Commissioner, sworn in to office in January, expressed her concerns of the Biden administration’s “overreach” when it …
Houston energy firm expands holdings in Williston Basin
ExxonMobil Corporation just signed an agreement to sell its 62,000 acres of holdings in the Williston basin to Chord Energy Corporation for $375 million. Zacks reported that 77% of the holdings is undeveloped. Chord Energy is headquartered in Houston and considered to be one of the leading oil and gas producers in the Williston …
Latest Permian Basin acquisitions
A Houston company has joined some Oklahoma energy companies in being the latest to make acquisitions in the oil and gas rich Permian Basin. Kimball Royalty Partners announced the $141 million acquisition of nearly 60,000 acres in the region. Another company, Epsilon Energy of Houston is in the process of a $14 million acquisition …
PSO’s $155 million rate hike settlement to continue Tuesday for a second day of questions
A Corporation Commission hearing on a $155 million rate hike requested by Public Service Company of Oklahoma was continued Monday until Tuesday morning. An Administrative Law Judge presided over the hearing that explored the stipulation or settlement agreement reached by the State Attorney General and the AARP with PSO. The hearing lasted most of …
Crude oil recorded gains on Monday
Crude oil prices rose 1% on Monday with an increase in U.S. gasoline futures while some Oklahoma energy stocks saw as much as a 6% gain for the day even as one firm dropped 11%. The price gain came as forecasts indicated an increase in oil demand in the second half of the year. …
Enel makes formal announcement of solar manufacturing site in Oklahoma
Enel North America, the company that built 13 wind farms in Oklahoma, formally announced Monday it had officially chosen Inola in northeastern Oklahoma as the location for its nearly $1.8 billion solar panel manufacturing operation. The plant will be built at the Tulsa Port of Inola and the site had been widely promoted by …
New investors sought by coal producer Alliance Resource Partners
Leaders of Tulsa-based Alliance Resource Partners, L.P., a major coal-mining company, plan to seek investors during a conference Tuesday in Florida. Joseph W. Craft III, Chairman, President and Chief Executive Officer, and others of his management team will take part in the investor meetings at the 20th Annual Energy Infrastructure council CEO & Investor …