Siemens Energy, the company known for wind tower generators located throughout Oklahoma and other wind-generating states blamed at $204 million charge Monday on the wind-down of its Russian business. The company, with wind production plants in Hutchinson, Kansas and another in Iowa indicated its Russian business activities could be sold or wound down reported …
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** A group representing General Motors, Toyota Motor, Volkswagen and other major automakers said a $430 billion bill approved Sunday by the U.S. Senate will put achieving U.S. electric-vehicle adoption targets for 2030 in jeopardy. ** The deal extends a popular $7,500 per vehicle consumer tax credit for the purchase of electric vehicles, a win for EV …
EPA Tours US in Support of 50th Anniversary of Clean Water Act
U.S. Environmental Protection Agency (EPA) Assistant Administrator for Water Radhika Fox joined local leaders in Seattle to kick off the 50th Anniversary of the Clean Water Act celebration tour. “When Congress passed the Clean Water Act in 1972—with an overwhelming bipartisan majority—it charted a new path for America’s waters. As a result, we have seen …
Rig Report: OK Flat with 64 Rigs, US Count Drops by 3
The number of oil and gas rigs active in the U.S. field decreased by three over the past week to reach a total of 764, according to the Baker-Hughes Rig Report. Oklahoma remained flat with 64 active rigs, up by 33 since a year ago. Although its rig count is flat for the week, the …
Unexpected Job Growth Produces Higher Settlement of Brent Crude and WTI
After a week of sliding prices, oil settled higher on Friday on forecasts of a strong U.S. job growth market. Brent crude climbed 80 cents to $94.92 a barrel, 11% off last week’s settlement. U.S. West Texas Intermediate crude rose 47 cents to $89.01, off 8% for the week. The U.S. Department of Labor reported …
Cushing stocks to grow?
A report indicated that rising storage levels at the Cushing hub in Oklahoma is putting pressure on futures prices which could help ease U.S. inflation. Reuters reported the shrinking discount of U.S. crude to Brent and rising Canadian oil imports will send more barrels to Cushing. Click here for Reuters
TransAlta Posts 2Q 2022 Financial Results and Oklahoma Wind Project Updates
Calgary-based TransAlta Corporation reported revenue for the three and six months ended June 30, 2022 increased by $47 million and $64 million respectively compared to the same periods in 2021. The increase in revenues was due to higher wind resources in Canada, incremental production from a Canadian wind facility and higher environmental credit sales partially offset by the extended site outage at …
Ascent Resources Finalizes Utica Acreage Purchase From XTO Energy
Oklahoma City-based Ascent Resources, LLC announced Friday that it has closed on the previously announced bolt-on acquisition with XTO Energy, a subsidiary of ExxonMobil Corporation, in the Utica Shale in Ohio for a total purchase price of $270 million, subject to customary closing purchase price adjustments. Ascent financed the transaction with a combination of cash on hand and …
Heat.gov Launched for Communities Facing Extreme Heat
As Americans deal with record-breaking temperatures and extreme heat this summer, the Biden Administration recently launched Heat.gov, a national integrated heat health information system with tools for communities facing extreme heat. Heat.gov will provide a one-stop hub on heat and health for the nation. It’s a priority of President Biden’s National Climate Task Force and its Interagency Working …
Oklahoma Energy Index Shows Strength Despite Concern Over Possible Recession
The latest monthly release of the Oklahoma Energy Index (OEI) reflects optimism in Oklahoma’s economy and the state’s oil and gas industry. Petroleum Alliance of Oklahoma President Brook A. Simmons points to geopolitical events and drilling activity as two positive factors. Public officials are compelled to recalibrate the role that stable, affordable energy supplies play …