Unit Corporation provided an update this week on its recovery from its 2020 Chapter 11 bankruptcy. The update by the Tulsa-based company concerned the company’s Warrant Agreement with American Stock Transfer & Trust Company, LLC governing the terms of the warrants contemplated to be issued according to the bankruptcy plan. Unit stated in a filing …
Kansas governor rejects autonomous EV delivery vehicles
Kansas Gov. Laura Kelly pulled the plug this week on Amazon’s request to operate electric, autonomous delivery devices on sidewalks. She vetoed Senate Bill 161 that had been approved 22-17 in the Senate and 75-47 in the House according to the Kansas Reflector. Click here for Kansas Reflector
EIA—Haynesville natural gas production reached a record high in late 2021
New highs in dry natural gas production in the second half of 2021 were recorded in the Haynesville shale play in northeastern Texas and northwestern Louisiana according to the U.S. Energy Information Administration. The EIA said production has remained relatively strong in early 2022 and the Haynesville natural gas production accounted for nearly 13% …
Train shortage falls under government eyes
Federal regulators plan hearings this month to investigate the shortage of trains—a shortage that is being blamed on railway cuts during the COVID-19 pandemic. Click here for the Associated Press
Crude rebounds on latest China COVID-19 lockdown news
China’s move to ease its COVID-19 lockdown of Shanghai sent crude oil prices increasing by more than 6% in Tuesday’s trading. Both U.S. and global benchmark crude posted their highest finish in a week. West Texas Intermediate crude for May delivery rose $6.31 or 6.85% and settled at $100.60 a barrel in trading on …
Bice “astonished” at Biden’s release of more oil from petroleum reserve
The President’s decision to release millions of barrels of oil from the Strategic Petroleum Reserve in an effort to lower fuel prices drew the ire of Oklahoma congresswoman Stephanie Bice. In her weekly column released Tuesday, she called it a “desperate” effort on Biden’s part, adding “he continues to slap a bandage on this …
Rep. Mullin blasts Transportation Secretary Buttigieg over higher fuel standards
Transportation Secretary Pete Buttigieg is under fire from Oklahoma Congressman Markwayne Mullin after recently announcing higher fuel economy standards for cars and light trucks. In a letter to Buttigieg, the Republican Representative said the new mandate of 49 miles per gallon for passenger cars by 2026 is “nothing more than a coercive government mandate …
Space Authority to meet Wednesday
A regular meeting of the Oklahoma Space Industry Development Authority will be held Wednesday in Oklahoma City. The 1:30 p.m. meeting will be held in the Commission room at the State Department of Transportation headquarters. The Oklahoma Space Industry Development Authority Meeting is open to the general public, but it is also available …
Consumers voice opposition to OGE rate hike request
Some consumers are starting to make their voices known in opposition to the rate hike sought by Oklahoma Gas and Electric, one that would jump residential rates by nearly 10%. A Muldrow resident, Jimmy W. Jones went so far as to file his protest with the Oklahoma Supreme Court arguing that the proposed …
ONG ratepayer bond request hit with another challenge
Even as the Oklahoma Supreme Court is set to hear a request to approve $1.4 billion in ratepayer backed bonds for Oklahoma Natural Gas Company’s 2021 winter storm costs, former legislator Mike Reynolds filed a legal challenge contending the matter is unconstitutional. The request, originally filed by the Oklahoma Development Finance Authority is scheduled …