A thriving Oklahoma economy for most of 2022 helped propel Gross Receipts to the Treasury to a record calendar year high, but recently there has been a slowdown in growth, State Treasurer Randy McDaniel announced Friday. Gross production taxes on oil and natural gas total $195.1 million, an increase of $41.4 million, or 26.9 …
Category: General
Latest STACK play wells in Oklahoma
Among Oklahoma’s latest completion reports were for two Kingfisher County wells by BCE-Mach III LLC and Ovintiv USA Inc. BCE-March filed a report on the Benda 3-16-6 2ho which produced 713 barrels of oil a day along with 585 Mcf of natural gas. Drilled at 34 17N 6W, a site 6 miles northeast of the …
ConocoPhillips sues Alaska over North Slope project
ConocoPhillips, the company with strong Oklahoma oil and gas ties, filed suit against Alaska in a fight with another company that wants to develop a giant North Slope prospect in the state. The suit was filed in Anchorage Superior Court and challenged an administrative decision made in December by the Alaska Department of Natural …
John Deere builds ‘electric’ backhoes
The next John Deere backhoe you see around Oklahoma might be a new electric version announced by the world’s largest manufacturer of farm equipment. Deere & Co. said it created the new “electronic” version because of rising demand to reduce emissions in heavy industry reported Bloomberg. Based in Moline, Illinois, the company said its …
Headlines of other energy stories
** U.S. natural gas futures plunged close to 11% to a one-year low on Thursday on a smaller-than-expected storage draw and forecasts for warmer-than-normal weather to continue into late January. That should keep heating demand low during what is usually the coldest part of the year and allow utilities to leave more gas in storage …
Biden administration now admits the Keystone XL pipeline would have had a big economic impact
Two years after President Biden used one of his first executive orders to kill the planned Keystone XL Pipeline, his administration now admits it would have had economic benefits to the U.S. Fox News reported the Department of Energy issued a late December report saying the project would have created between 16,149 and 59,000 …
EPA backs off crackdown of oil producers in Permian Basin
The EPA apparently decided against a proposal to crack down on smog in the Permian Basin and it was called a “win” for oil producers in the region. Devon Energy is among those producers. The idea was not part of the EPA’s recent release of an agenda of planned regulations reported Bloomberg. Click here …
Gains recorded by crude oil prices and Oklahoma energy stocks
Moderate gains were made Thursday by Oklahoma energy stocks and crude oil prices. Crude oil managed a 1% gain for the day after the biggest two-day loss for the start of a year in three decades. It came after lower fuel inventories were reported. West Texas Intermediate crude for February delivery rose 83 cents …
Corporation Commissioner offers tearful farewell
Corporation Commissioner Dana Murphy offered a tearful farewell in her last meeting on Thursday, saying she hoped her legacy was to the people. After 14 years as a commissioner, Murphy concluded the commission’s meeting with comments as she was term-limited on the state-wide seat. “I can’t say enough about you,” she said in comments …
Oklahoma gasoline prices continue to climb
Gasoline prices continued their rise this week across Oklahoma, reaching a high of $2.93 a gallon, just weeks after declining before the end of 2022. AAA reported Thursday that gasoline prices rose 2 cents in one day. The new average is higher than a year ago when Oklahoma prices averaged $2.90 a gallon. It …