Legislation ensuring Oklahoma consumers have access to energy of their choice has moved to the Governor’s desk after passing the Oklahoma House of Representatives 77-5. Senate Bill 1352 creates the Consumer Energy Choice Act, which prohibits cities, towns, and counties from adopting rules that limit consumer access to energy sources. The bill was carried in …
Gulfport Energy sets 1Q report date
Investors in Oklahoma City’s Gulfport Energy Corporation will likely be anxious to hear the company’s approaching first quarter 2022 financial results. On Tuesday, Gulfport announced it will release the quarterly financial results on Tuesday, May 3 after the close of markets. On Wednesday, May 4 at 8 a.m. Central Time, executive leadership will hold a …
More energy news headlines
** Oil prices could spike to $185 a barrel if EU abruptly banned Russian crude, JPMorgan said Tuesday. A full and immediate embargo would displace 4 million barrels per day of Russian oil. ** A shortage of solar modules due to the Commerce Department’s probe of four Southeast Asian nations has put 65 percent of new …
Baker Hughes reports 1Q drop in earnings
Baker Hughes unveiled its first quarter earnings on Wednesday, showing a drop in revenue, operating income and adjusted earnings from the previous quarter, but increases from a year ago. The company stated its revenue of $4.8 billion for the quarter was down 12% from the fourth quarter but 1% higher than a year ago. …
CenterPoint Energy CEO gets huge pay hike while firm seeks higher rates
A report by the energy watchdog group, Energy and Policy Institute shows CenterPoint, a company that offers services in Oklahoma and Arkansas, more than tripled the compensation it paid CEO David Lesar from 2020 to 2021. CenterPoint Energy paid its CEO a total of $37.8 million last year, far exceeding executive pay at peer companies while …
AG blames Biden for regulations that hurt America’s energy costs
Oklahoma Attorney General John O’Connor and 15 other state attorneys general are demanding President Joe Biden stop federal attempts to impose excessive regulations that increase Americans’ energy costs. “Americans are paying more at the pump and in the grocery store because Biden is crippling our oil and gas production and transportation. On top of that, …
Inflation warning sends crude oil prices falling
A warning of higher inflation by the International Monetary Fund sent oil prices falling on Tuesday. Prices were down nearly 5% as West Texas Intermediate crude for May delivery fell $5.65 to $102.56 a barrel in trading on the New York Mercantile Exchange. Global benchmark Brent crude for June delivery dropped $5.91 and settled …
Retired Phillips Petroleum leader dead at 85
Walter Wayne Allen, the retired Chairman of the Board of Directors and CEO of Phillips Petroleum Company died last Friday in Houston. He was 85. He joined Phillips Petroleum Company in 1961 after graduating from Oklahoma State University and serving in the U.S. Army. Allen held assignments in the U.S., the United Kingdom and …
Don’t expect cheaper gasoline this summer—EIA
The federal government says American motorists shouldn’t expect gasoline prices to drop too far this summer. The U.S. Energy Information Administration came out with its Summer Fuels Outlook and expects retail gasoline prices to average $3.84 a gallon during the summer driving season, April through September. Last summer’s average price was $3.06. After adjusting for inflation, …
Halliburton reports improved 1Q earnings
Halliburton’s President and CEO Jeff Miller says he is pleased with the company’s first quarter earnings report. Who wouldn’t be? The company announced improved net income of $263 million or 29 cents a diluted share compared to $170 million and 19 cents a share one year ago. Adjusted net income for the first quarter …