Crude oil prices managed a gain on Friday, despite the warning from the head of the Federal Reserve to expect increased interest rates as the country battles inflation. Signals from Saudi Arabia that OPEC might cut its output sent the prices upward as West Texas Intermediate crude for October delivery managed a 54-cent gain …
Oklahoma gets Interior Department funding to clean-up abandoned oil and gas wells
Oklahoma is among 24 states getting a share of $560 million from the U.S. Interior Department to start cleanup of what the agency called “high-priority derelict oil and gas wells” abandoned on state and private land. Oklahoma will receive an initial grant of $25 million to plug, cap and reclaim orphaned oil and gas …
Crude oil production on the increase in the Eagle Ford of South Texas
While the latest rig count showed a slight decline in the number of rigs drilling for oil in the Eagle Ford of South Texas, the federal government reports production has been climbing in the shale play since February, a play where several Oklahoma energy firms have active operations. The U.S. Energy Information Administration issued …
University of Arkansas makes deal for off-campus solar power
Entergy and the University of Arkansas are joining efforts to allow the university to buy electrical power from an off-campus solar farm to be built by the utility. The University expects to save $200,000 in its first year and eventually millions of dollars over the next 25 years according a report by the University …
Surprise! Panasonic might pick Oklahoma for a 2nd $4 billion battery plant
Oklahoma might not be out of the running for a $4 billion Panasonic battery plant. After Panasonic Holdings Corp. chose a site in Kansas for the first such plant, now the firm is indicating it wants to build a second plant to supply electric-car maker Tesla. The Wall Street Journal reported Friday that Panasonic …
Slight growth in rig numbers nationally while Oklahoma is unchanged
The latest figures from Baker Hughes showed an increase of 3 rigs to bring the national rig numbers to 765 while in Oklahoma, the count was unchanged from a week ago. Oklahoma’s count stayed at 65, more than double the 31 rigs reported in the state a year ago. Nationally, the new figures showed …
Crude prices drop as investors worry what new Iranian nuclear deal will mean
Nervous and anxious investors worried about the return of sanctioned Iranian oil exports in a new nuclear deal with a Biden administration were behind a nearly $2 a barrel decline Thursday in crude oil prices. They also are waiting on Friday’s scheduled remarks in Jackson Hole, Wyoming where U.S. Federal Reserve Chairman Jerome Powell …
Anadarko Basin drilling activity is at 3-year high
A weekly rig report by Enverus showed a slight decline nationally while the Anadarko Basin not only hit a 2k022 high but its highest activity level in nearly three years. The Anadarko Basin was up by one in the past week to reach 76 active rigs in Oklahoma and parts of Texas where the …
Haaland to visit New Mexico this weekend
lnterior Secretary Deb Haaland returns to her home state of New Mexico this weekend in a campaign effort to promote President Biden’s Inflation Reduction Act. The Albuquerque Journal reported Haaland, a former Democratic congresswoman appointed last year to be U.S. Interior Secretary plans to use the visit to the northern part of New Mexico. …
Fort Collins based power authority considers joining Southwest Power Pool
The Southwest Power Pool of which Oklahoma is a member might soon pick up a new member—Platte River Power Authority based in Fort Collins, Colorado. The SPP announced Thursday it had received Platte River’s notice of intent to join several western entities evaluating participation in the SPP’s regional transmission organization. In January 2022, Platte …