Oil and gas exploration is still taking place in Oklahoma as crude prices are well above $100 a barrel. The latest completion reports were on wells in the SCOOP. Gulfport Midcon LLC filed completion reports this week on two wells in Grady County with combined production of nearly 1,900 barrels of oil a day …
Bice offers Act to stop oil purchases from Venezuela
Oklahoma congresswoman Stephanie Bice wants to make sure the U.S. does not buy any oil from Venezuela, an idea that President Biden and his administration offered as an alternative to ending purchases of Russian oil. Rep. Bice joined Florida Congressman Scott Franklin in the introduction of the Prohibiting Oil Trade with Venezuela’s Tyrant Act. “There …
Headlines of other energy stories
** The Environmental Protection Agency is proposing a plan that would restrict smokestack emissions from power plants and other industrial sources that burden downwind areas with smog-causing pollution they can’t control. The federal plan announced Friday is intended to help more than two dozen states meet “good neighbor” obligations under the Clean Air Act. Sen. Joe Manchin …
TC Energy says Keystone XL pipeline is dead
Despite increased calls for TC Energy to attempt a resumption of construction on the cancelled Keystone XL pipeline in light of the U.S. ban on purchases of Russian crude oil, the Canadian company is standing firm…it will not proceed. It’s the response of the company reported South Dakota Public Broadcasting. Click here for SDPB
Colorado regulators reject Kerr-McGee residential drilling plan
The Colorado Oil and Gas Conservation Commission turned aside Kerr-McGee’s request to drill closer than 2,000 feet to homes and nearby schools. It was considered the first major test of Colorado’s requirement that oil and gas drilling be set back at least that distance from residential areas. The Colorado Sun reported the application included …
Oklahoma, Arkansas and Louisiana form hydrogen hub effort
Oklahoma has joined Louisiana and Arkansas in plans to develop a “hydrogen hub” supported by $8 billion in the 2021 federal infrastructure bill. “Oklahoma is honored to join in forming this partnership, not because of convenience, or necessity, but rather because we share a similar vision and goals for the production, use, and economic impact …
Senators introduce bill to ban oil from Iran and Venezuela
A handful of Republican U.S. Senators, Sen. James Lankford of Oklahoma among them say the U.S. should not consider importing any crude oil from either Iran or Venezuela. To make their point, they have introduced the Preempting Misguided Appeasement and Financing of Destabilizing Regimes Act. The bill would prohibit the importation of Iranian and Venezuelan crude …
Crude oil falls again but remains well above $100
Crude oil prices slipped again in Thursday’s trading as the fighting grew bloodier in Ukraine where Russian forces continued their war. It remains curious to describe prices as “falling” yet they remain well over the $100-a-barrel mark. Analysts described it as a volatile session that resulted in the lower prices. West Texas Intermediate crude …
Ascent Resources makes improvements over net losses
Ascent Resources Utica Holdings, LLC reported fourth quarter 2021 earnings of $1.1 billion in net income, along with $76 million in adjusted net income and $283 million in adjusted EBITDAX. The Oklahoma City company said its net income in the quarter was largely driven by a $1.1 billion unrealized commodity derivative fair value …
Manchin—US must unleash its vast energy resources to counter Putin’s weaponization of energy
West Virginia U.S. Sen. Joe Manchin didn’t pull any punches during a Thursday hearing of the Senate Energy and Natural Resources Committee hear chairs. The Democrat, who’s been a thorn in the side of President Biden’s more liberal approaches against the oil and gas industry told the committee and its witnesses the U.S. should …