Texas-based Smart Sand, Inc., the frac sand supplier with an operation in El Reno, Oklahoma reported increased sales of sand and revenue in the first quarter of the year. While its revenues totaled $82.4 million compared to $73.8 million in the fourth quarter of 2022 and $41.6 million from a year earlier, the company …
Category: General
Oklahoma legislative committee gives early approval of tax package for Enel solar plant
If renewable energy company Enel North America meets the terms of a state House approved taxpayer incentives package, it could get up to $180 million in incentives from Oklahoma over a proposed solar panel factor at the Tulsa Port of Inola. A House joint appropriations committee voted this week to give initial approval to …
Oil and gas firm settles lawsuit filed by Oklahoma City over Stinchcomb Refuge
The City Council in Oklahoma City voted this week to accept a $235,000 settlement from Revolution Resources and its contractor for alleged damage to the Stinchcomb Wildlife Refuge and theft of city water. The city filed suit earlier this year against Revolution and contractor Select Services who had been denied city permits to build …
ConocoPhillips expands cash tender offer to $1.1 billion
ConocoPhillips and its wholly-owned subsidiary ConocoPhillips Company are bumping up their cash tender offer to more than $1 billion. The companies are increasing the purchase price to $1.1 billion from $750 million. This increase in the Maximum Aggregate Purchase Price matches the expected aggregate gross proceeds from the concurrent public offering of CPCo senior …
Firm wins nuclear storage license in New Mexico
After five years, the U.S. Nuclear Regulatory Commission this week approved a permit to Holtec to construct a temporary nuclear waste storage operation in New Mexico. The facility will be located between Hobbs and Carlsbad and hold nuclear waste underground on private land. The Carlsbad Current Argus reported the initial storage will consist of …
Better than expected 1Q results for Tulsa’s Vital Energy
First quarter earnings were posted by Tulsa’s Vital Energy, Inc. showing stronger oil production than predicted and nearly $114 million in net income from its operations in the Permian Basin. “The benefits of Vital Energy’s strategy were evident in our outstanding first quarter results,” commented Jason Pigott, President and Chief Executive Officer. The company reported …
Oil and gas drilling ban proposed for Colorado’s Thompson Divide
The Biden administration is proposing a possible ban of oil and gas drilling along with mining on the 225,000-acre Thompson Divide in western Colorado. The U.S. Forest Service and Bureau of Land Management plan meetings on the possibility such a ban would exist for up to 20 years. The meetings will be held in …
Arkansas regulators order Summit to stop shutoffs
The Arkansas Public Service Commission voted this week to approve an order telling Summit Utilities Inc. not to collect late fees or suspend service for more than 400,000 customers in the state while its billing and pricing practices are under investigation by the Attorney General. Summit, a natural-gas provider that also has customers in …
Brief energy reports
** The U.S. Energy Information Administration (EIA) expects that a slightly cooler summer in 2023 will lead to less demand for air conditioning than in 2022, slightly reducing overall demand for electricity this summer. In its May Short-Term Energy Outlook (STEO), EIA expects that despite less electricity demand this summer, more electricity will be generated from renewable …
Tribes disagree over government plan to stop oil and gas drilling around New Mexico’s Chaco historic site
A tribal argument has developed over the Biden administration’s plans to stop new oil and gas drilling near the sacred Chaco site in New Mexico. Turns out the Navajo Nation doesn’t support the idea, proclaiming its members should have the right to develop the resources if they want. Reuters reported it puts the Navajo …