A city board in El Reno recently denied the request of Revolution Operating Company LLC to drill a well in an area surrounded by homes. The El Reno Tribune reported the denial was made by El Reno’s Board of Adjustment and the vote was unanimous against the Oklahoma City energy company. The firm had …
What does Biden’s Inflation Act mean for Oklahoma?
The head of an oil and gas industry group in Oklahoma says President Biden’s Inflation Reduction Act will only result in higher energy costs for the U.S. It’s what Brook Simmons, President of the Petroleum Alliance of Oklahoma told The Oklahoman in a story regarding the Act’s impact on Oklahoma. The paper carried the …
Halliburton officially exits Russia
Halliburton Company, the firm that was originated in Oklahoma before moving headquarters to Texas wiped its hands clean of operations in Russia. The firm announced over the weekend it completed the sale of its Russia operations to a Russia-based management team. The team is comprised of former Halliburton employees. As a result, Halliburton no …
Justice upholds $155 million interest payment judgment in favor of Oklahoma well owners
A $155 million judgment in a lawsuit over late payments to 53,000 oil-well owners in Oklahoma was upheld by U.S. Supreme Court Justice Neil Gorsuch. He did so by rejecting a request from pipeline operator Energy transfer LP’s Sunoco Inc. unit to block the judgment. Justice Gorsuch denied Sunoco’s bid to stay proceedings to …
Slight decline in US rig and Oklahoma rig counts
The nation’s oil and gas rig count slipped by one in the past week reported Baker Hughes on Friday as most oil and gas plays showed no changes. Only the Permian Basin and the Mississippian recorded changes. The Permian Basin saw a decline of two rigs to 340 while the Mississippian grew by one …
Oklahoma energy stocks made strong gains along with oil price increases
As oil prices rebounded 4% on Friday, Oklahoma energy stocks also had a strong day with some firms recording gains of 5%. The price increases came after threats were made to cut crude oil supply worldwide. West Texas Intermediate crude oil for October delivery rose $3.25 or nearly 4% to $86.79 a barrel …
Headlines of other stories
** The nation’s ethanol plants produce more than double the climate-damaging pollution, per gallon of fuel production capacity, than the nation’s oil refineries, according to a Reuters analysis of federal data. ** New Jersey state regulators have approved double-digit rate increases for four gas providers, a move that will see millions of customers experiencing soaring …
Tesla proposes lithium refinery in Texas
A lithium refinery on the gulf coast of Texas? It’s what Tesla Inc. has proposed. The company has even made application with the Texas Comptroller’s office saying the potential battery-grade lithium hydroxide refining plant would be the first of its kind in the nation reported Reuters. Click here for Reuters
Crude prices rebounded after 7-month low
Someone’s celebrating on Wall Street. After dropping to a 7-month low on Wednesday, crude oil prices managed a 1% improvement Thursday following threats by Russia to halt oil and gas exports. The day also left Oklahoma energy stocks with a mix of gains and losses. West Texas Intermediate crude for October delivery rose $1.60 …
Oklahoma electricity costs among some of the highest in US but not electricity rates
Just because reports indicate electricity prices in Oklahoma have climbed faster than more than 30 other states nationwide doesn’t mean electricity rates have risen so dramatically. Recent stories by News 9 and Fox 25 in Oklahoma City quoted a report from the U.S. Energy Information Administration which ranked Oklahoma 18th highest compared to a year …