Crude oil prices were like a bouncing basketball this week and after slipping in trading earlier in the week, they rose on Thursday after the U.S. announced new sanctions on Iran. The sanctions targeted a network of Iranian petrochemical producers and front companies in China as well as the United Arab Emirates. They were …
Groups agree on new alternate plan for no OGE rate hike
Five parties have signed onto a new alternate settlement agreement asking Oklahoma Corporation Commissioners to vote down a previous agreement for an Oklahoma Gas and Electric rate hike. The new agreement presented to the commission would have OG&E not ask for a utility rate hike and no increase to its fixed monthly customer charges. The …
Slight growth in oil and gas rig numbers across the U.S.
The U.S. rig count rose by three in the last week to 820 as of June 15, according to Enverus Foundations data. The data indicated no change in the number of rigs in the Anadarko Basin. The national count is up 1% in the last month and up 58% in the last year. The …
Breakdown of Hamm’s family ownership of Continental Resources
While leadership at Continental Resources considers the takeover move initiated this week by founder Harold Hamm, the billionaire filed new paperwork with the Securities and Exchange Commission detailing who is making the offer. His $70-a-share offer also turned slightly stronger at the end of Thursday’s trading. The filing with the SEC detailed ownership of …
Enviros go to court to block 3,500 oil and gas drilling permits
The Biden administration has been sued by three environmental groups who are attempting to block 3,500 oil and gas drilling permits on public lands sought by companies in New Mexico and Wyoming. The lawsuit was filed in the District Court of Washington, DC against the Bureau of Land Management and accused the agency of …
Two longtime oil and gas execs join Canes Midstream
Dallas-based –Canes Midstream LLC announced that it has added energy industry veterans Mike Hicks as Chief Operating Officer, and Dan Westcott as Chief Financial Officer. Hicks and Westcott join Scott Brown, Chief Executive Officer, to round out the Canes executive leadership team. Most recently, Hicks served as President of Superior Pipeline Company, where he was …
EV strain on Texas power grid?
Some energy analysts predict there’ll be a 50% increase in electric vehicles in the U.S. in the next five years—a prediction that leads some to wonder whether Texas would be able to handle the pressure on its electric grid. One energy expert said the answer is a resounding “yes” according to a report by …
Rep. Mullin wants immediate House action on his energy bill
Oklahoma congressman Markwayne Mullin made a move this week in the U.S. House to force consideration of his plan to bring down the price of gas. The Republican Representative, who is also a candidate for the U.S. Senate to replace retiring Sen. Jim Inhofe, filed a discharge petition for his bill, H.R. 575, the …
Heat left thousands of cattle dead in SW Kansas
While the heat can take a toll on energy workers in the Midwest, it left a dramatic instance of dead cattle just north of the Oklahoma Panhandle last weekend. “It’ s a weather issue.” It’s how one feedlot consultant described what happened last weekend in southwest Kansas where some reports indicated an estimated 8,000 …
EIA expects significant increases in wholesale electricity prices this summer
With gasoline prices increasing daily, food costs going up and inflation eating into our budgets, why are we not surprised that the government now expects summer time electricity prices to increase as well? It’s the forecast from the U.S. Energy Information Administration’s Short-Term Energy Outlook issued this week in which the agency said it expects prices …