If sources are correct, Fort Worth, Texas has lost the race to land electric vehicle maker Rivian with a $440 million tax incentive package. Instead, the plant will reportedly go to Georgia according to the Fort Worth Business Press. Click here for Fort Worth Business Press.
Tax credit for union-made EVs still alive
It’s far from being written in stone, but a tax credit for union-made electric vehicles is still part of the preliminary U.S. Senate Finance Committee text for Biden’s Build Back Better social spending bill. The Hill reports the inclusion came over the objections of Sen. Joe Manchin, the West Virginia Democrat whose moderate approach …
Wind power sent on new transmission line in New Mexico
A 155-mile transmission line carrying wind powered electricity from central New Mexico to Albuquerque became fully operational this month. The Western Spirit Transmission line carries wind power from 377 turbines near Encino, Corona and Durant in Guadalupe, Lincoln and Torrance counties reported the Santa Fe New Mexican.
Merger creates $4 billion oil firm in the Permian
The combination of two of EnCap Investments LP’s portfolio companies in the Permian basin leads to the creation of an oil producer worth more than $4 billion. Reuters reports the private equity firm wants to take it public as soon as next year. Click here for Reuters.
Oil company could face penalties over leaking tanks
Leaking oil tanks could lead to penalties for Prospect Energy, the Colorado company accused of air pollution north of Fort Collins. The Fort Collins Coloradoan reports Colorado’s Air Pollution Control Division is considering the action. Click here for Fort Collins Coloradoan.
Permian oil output expected to reach record levels in December
Crude oil production in the Permian Basin is expected to reach well beyond a pre-pandemic high this month. Drillers in the nation’s most prolific patch that covers West Texas and southeast New Mexico are busier than ever according to Bloomberg.
EIA updates crude oil production for basins
The federal government is out with a new report indicating new oil well productivity in Oklahoma’s Anadarko Basin for December averages 794 barrels of oil a day. The U.S. Energy Information Administration forecast the productivity will decline to 778 barrels of oil a day by January 2022. New gas-well production per rig in the Basin …
COVID-19 worries cause slip in oil prices
Crude oil prices slipped on Monday due tor worldwide concerns that vaccines might not be effective against the Omicron variant of the coronavirus. Most Oklahoma energy stocks recorded losses for the day. West Texas Intermediate crude for January delivery fell 38 cents or 0.53% to settle at $71.29 a barrel in trading on the …
Executive appointments made at Williams
Williams announced that John D. Porter has been appointed Senior Vice President and Chief Financial Officer (CFO), overseeing all financial aspects of the company, effective Jan. 1, 2022. Porter will replace John Chandler, who announced his planned retirement from Williams earlier this year. Chandler will serve as a strategic advisor until his retirement …
Updated phone app for Oklahoma driving conditions
A new phone app giving updated travel conditions from the Oklahoma Department of Transportation is now available. The Drive Oklahoma app includes an interactive mapping system that shows where traffic issues have developed and provides information to allow the public to plan for travel in advance reported the Daily Ardmoreite.
