A day after an Oklahoma Supreme Court referee heard arguments in the $1.4 billion ONG ratepayer-backed bond request by the Oklahoma Development Finance Authority, former legislator Mike Reynolds filed another protest saying the ODFA attorney continued to make false, misleading and contradictory statements to the Court about the case. In a Thursday filing with …
Baker Hughes reports increased rig counts in US and Oklahoma
The number of oil and gas rigs in Oklahoma and the U.S. grew in the past week according to the Baker Hughes rig count that was released a day earlier than normal because of the Easter Holiday and Good Friday. Oklahoma’s county increased by one to a total of 51 working rigs. Nationally, Baker …
Enverus shows increase in U.S. rig count
The U.S. rig count was up by seven week over week at 766 rigs as of April 13, according to Enverus Rig Analytics. Activity levels are down 0.4% in the last month and up 48% YOY. The count was as high as 770 in the last week, which is up nine compared to the …
Permian permits hit record high in March
Horizontal drilling permits for new wells in the Permian Basin hit an all-time high in March, with 904 total permit awards, driven by elevated oil prices and production demand, Rystad Energy research shows. Weekly approved permits have hovered between 188 and 227 since March 7, 2022, an unprecedented period of high activity that pushed …
Candidates file for Oklahoma Corporation Commission
The first day of the candidates’ filing period in Oklahoma produced two candidates for Oklahoma Corporation Commissioner. Republican State Sen. Kim David of Porter officially emerged as an official candidate for the seat held by Commissioner Dana Murphy. She had made it known for several months of her intention to run for the seat. …
Work begins on new EV plant in Texas
While Kentucky is getting a $2 billion electric vehicle battery factory to be built by a Japanese company and Hyundia plans to invest $300 million to add an electric vehicle assembly line at its Alabama plant, a Spanish EV manufacturer is starting construction of a new plant in Arlington, Texas. Wallbox, the Barcelona-based manufacture …
Lawsuit could affect wind industry growth in Iowa
A lawsuit by a tenant farmer in Iowa has the potential to change wind energy construction in Iowa. It’s a suit the wind industry is watching closely. The issue involves the tenant farmer who opposed construction of a wind farm on the land he leases even though the land owner approved of the project. …
US and World energy headlines
** The Russian invasion of Ukraine and the resulting increase in gas prices is responsible for most of the record increase in US inflation last month, US President Joe Biden says. “Seventy percent of the increase in prices in March came from (Russian President Vladimir) Putin’s price hike in gasoline,” Biden says during a visit …
Increase in crude stored at Cushing hub
U.S. crude oil supplies grew this week and the same could be said of the crude in storage at the Cushing hub in northern Oklahoma. The U.S. Energy Information Administration reported the amount of crude held at Cushing increased by 400,000 barrels to reach a total of 26.3 million barrels as of April 8, …
IPO boosts Kaiser’s wealth to $9 billion
Tulsa billionaire George Kaiser increased his fortune by more than $1 billion with a recent public offering of his Excelerate Energy inc. The Bloomberg Billionaires Index shows the IPO added $1.4 billion to his fortune and increased his net worth to $9.2 billion reported Bloomberg. Click here for Bloomberg