The first hydrogen power plant to be constructed by Syntex Industries will be a $250 million project in Clarksville, Arkansas, a city located along I-40 midway between Fort Smith and Little Rock. City leaders recently signed an agreement to build the company’s first Syntex Hydrogen Power Plant that will generate more than 500 …
Category: General
GOP states plan to challenge Biden’s latest power plant rules
The Biden administration’s latest EPA proposal to target coal-and natural gas-fired power plants is under fire from Republican-led states who indicate they will challenge the plan. “Congress never authorized the president to wage war against the American people with these relentless administrative assaults on consumers and industries that supply reliable and sustainable access to …
Devon Energy’s latest well production is in Blaine County
Two Blaine County wells drilled by Devon Energy Production Company on a single pad produced not only more than 1,200 barrels of oil a day but more than 17,000 Mcf of natural gas too. The two Hornet wells are located at 4 14N 12W or a site about 6 miles west of the small …
Empty coal train derailment investigated in Oologah
Authorities are investigating a Friday night derailment of an empty coal train in Oologah in northeast Oklahoma. It was near the PSO power plant and the intersection of Highway 169 and 88. No injuries were reported but two of three rail crossings were blocked to traffic.
Oil and gas rig counts dropped in Oklahoma and rest of the U.S.
The nation’s oil rig count reported by Baker Hughes Co. plummeted 17 rigs in the past week and Oklahoma followed suit with a decline of 3. The national count dropped to 731. The number of oil rigs fell by 2 to 586 while the number of gas rigs dropped by 16 to 141. The …
Icahn company counters losses with $500 million buyback plan
After a damaging report resulted in a loss of billions for corporate raider Carl Icahn, his holding company has launched a buyback equaling nearly 27% of its trading shares. The directors of Icahn Enterprises LP approved a $500 million buyback. Icahn, a major investor in Oklahoma City-based SandRidge Energy as well as refinery operator …
Senate votes to reject Biden administration’s protection of bat
Oklahoma U.S. Sen. Markwayne Mullin celebrated a Senate victory this week as the Senate approved two resolutions undoing the Biden administration’s rules regarding the Endangered Species Act. Fellow Oklahoma Sen. James Lankford joined him in voting against the Biden administration. “The completely unreasonable critical habitat rule gives the Biden Administration the power to interpret any …
Other energy notes
** The Biden administration’s new greenhouse gas rule is designed to drive drastic changes in how U.S. power companies produce electricity — but utilities say it could escalate the risk of outages as it squeezes fossil fuel plants into retirement. ** Shell Chemicals is facing its second lawsuit brought by three contractors who say they were injured …
Crude oil slipped on Friday’s trading while OK energy stocks recorded gains
Crude oil prices dropped more than 1% on Friday while Oklahoma energy stocks recorded gains in the day’s training.\ Crude prices dropped for the third consecutive week as each benchmark settled about 1.5% lower for the week. West Texas Intermediate crude dropped 83 cents or 1.2% to close at $70.04 a barrel on the …
Tulsa’s Vital Energy expands Permian Basin holdings with $378 million acquisition
Vital Energy just expanded its holdings in the Permian Basin with a $378 million acquisition of assets from Forge Energy II Delaware LLC, an EnCap portfolio company. The Tulsa company said the acquisition will expand its Permian Basin leasehold to 198,000 net acres and also establish core operating positions in Pecos, Reeves and Ward Counties. …