A “first of its kind” is helping Devon Energy turn huge profits on its Delaware Basin operations that are considered the company’s “growth engine” of the Permian Basin, The first of its kind? The company’s own sand mine. Located in Loving County, Texas, a county located at the south edge of the state line …
Ovintiv to double shareholder returns
While it reported a first quarter 2022 net loss of $241 million, Ovintiv Inc. still managed a 25% increase in its quarterly dividend. And it plans more drilling activity in Oklahoma. The company released its quarterly finance report this week stating it also plans to double shareholder returns resulting in 2022 returns of $1 …
$4 gasoline hits Oklahoma
The gas hike has hit Oklahoma—hard. More counties now have average gasoline prices of $4 or more than in previous months with the highest average in Coal County where motorists are paying an average $4.32 for a gallon of regular gasoline. The price jump fell in line with what’s happening nationally where the American …
Appeals Court weighs Oklahoma’s challenge of Biden order
Arguments were scheduled to be made Tuesday before a New Orleans federal appeals court in a challenge by Oklahoma and other states of President Biden’s suspension right after he took office of new oil and gas lease sales. The Associated Press reported the hearing was held after a federal judge blocked Biden’s executive order. …
Williams takes aim at new investors
Investors. It’s what major corporations are constantly seeking and the latest such effort by Williams Companies in Tulsa will be later in the month. Alan Armstrong, the company’s President and Chief Executive Officer will be joined by John Porter, Williams’ Chief Financial Officer as they take part in meetings with investors at the 2022 …
Oklahoma legislature targets thieves of catalytic converters
Oklahoma Gov. Kevin Stitt is being sent a bill from the legislature to make it a felony to steal a car’s catalytic converter. Click here for McCarville Report
Other energy headlines
**Retail gasoline prices in the United States rose on Tuesday and hit another all-time record, surpassing one set in March, as global refineries grappled with a bottleneck that has sent prices soaring ahead of driving season. The average cost of a retail gallon of gasoline hit $4.374 early Tuesday, according to the American Automobile Association, surpassing …
Chevron to increase Permian Basin production
Chevron, one of the world’s largest energy companies plans to increase its oil production in the Permian Basin. The announcement was in response to crude prices that have lingered more than $100 a barrel over the past several weeks reported the Carlsbad Current-Argus. Click here for Current-Argus
Williams leader points out irony of increased fuel oil use in northeast US
The head of Williams Cos. makes a case for expanded natural gas pipeline construction in the U.S., arguing that environmentalists, in their push for renewable energies, are ignoring the facts. It’s what Alan Armstrong, CEO at Williams said in a sit-down interview with Bloomberg. Click here for Bloomberg
Decline in revenue reported by Mammoth Energy
Mammoth Energy Services, Inc. reported a drop in first quarter 2022 revenue and a net loss of nearly $15 million or 32 cents a share. The Oklahoma City company stated it had total revenue of $62.3 million for the three-months that ended March 31 compared to $66.8 million for the same quarter a year …