The government wants to develop solar power in New Mexico, Colorado and Nevada using 90,000 acres of federal public land. At least 29,000 acres would be located on public land in southern New Mexico reported the Carlsbad Current Argus. Click here for Carlsbad Current Argus.
Growing cost pressures faced by drillers
The Federal Reserve Bank of Dallas reports that oil drillers in the biggest U.S. fields are shouldering record costs as banks are growingly reluctant to loan money to the oil and gas sector. Bloomberg reports the claim came in a recent report. Click here for Bloomberg.
Continental enters the Permian Basin with $3 billion acquisition
Oklahoma City-based Continental Resources is starting 2022 with its first-ever entry in the Permian Basin following its $3 billion acquisition of Pioneer Natural Resources assets in the region. Continental CEO Bill Berry said the purchase will mark the company’s entrance into the Permian Basin region, complimenting assets held in the Bakken region in North …
Minor Earthquakes Swarm Grady County
A minor earthquake was recorded in Grady County on Wednesday night by the Oklahoma Geological Survey. The 1.8 magnitude earthquake was reported one mile south of Bridge Creek in central Oklahoma and was recorded at approximately 9:40 p.m. A quake that measured 2.8 magnitude was recorded nearly six miles east of Chickasha in Grady County …
Texas Energy Company Faces Lawsuit Over Fatal Oil Storage Tank Explosion in Louisiana
Plano, Texas-based Urban Oil & Gas Group and its insurer were sued over a fatal oil storage tank that exploded in February. The surviving family members of 14-year-old Zalee Day-Smith filed the suit in Lake Charles, Louisiana federal court. The youth was allegedly sitting on the tank near her mother’s house in Ragley when it …
Increase in Seismic Activity May Affect Permian Basin Oil & Gas Operations
The 4.5 magnitude earthquake that shook the Permian Basin on Monday night will likely increase regulatory pressure on regional energy producers to reduce or stop underground wastewater injections. The tremor occurred near Stanton. It was the third-largest quake in Texas. Regulators have associated areawide earthquakes to the disposal of wastewater, a byproduct of oil and …
PSO and OCC Reach Agreement on Rate Hike Request
Following Tuesday’s hearing on a rate hike request by Public Service Company of Oklahoma, the utility company announced that it reached an approved settlement with the Oklahoma Corporation Commission regarding its rate review. Under the agreement, PSO will continue to make system investments needed to improve and maintain a safe, secure and reliable electric grid. …
US EIA Report Reveals Gas Prices and Propane Inventories Decline as Residential Fuel Prices Rise
The U.S. Energy Information Administration issued its Weekly Petroleum Status Report for the week ending December 24, 2021. The statistics include: U.S. average regular gasoline and diesel prices decrease The U.S. average regular gasoline retail price decreased 2 cents to $3.28 per gallon on December 27, $1.03 higher than a year ago. The Gulf Coast …
U.S. oil records 5th day of gains while most OK energy stocks lost
The close of crude oil price trading Tuesday saw yet another rebound for U.S. prices. But it wasn’t the case for most Oklahoma energy stocks. West Texas Intermediate crude for February delivery went up 41 cents or 0.54% to finish the day at $75.98 a barrel in trading on the New York Mercantile Exchange. …
More completed wells and new drilling in Oklahoma
Among some of the last completion reports for Oklahoma wells is a Devon Energy producer with more than 1,000 barrels of oil a day in Canadian County. The Miller-miller 2_22-12n-9w 4hx, located at 2 12N 9W south of Calumet had production of 1,041 barrels of oil a day and 7,833 Mcf of natural gas from …
