Thursday produced a second straight day of gains for crude oil prices in the states but not overseas. It left some Oklahoma energy stocks with modest gains while others recorded losses. West Texas Intermediate crude for March delivery went up 22 cents to finish at $89.88 a barrel on the New York Mercantile Exchange. …
Oklahoma’s Granite Wash sees increased rig activity
A weekly U.S. rig count provided by Enverus Rig Analytics showed the Granite Wash in Oklahoma and the Texas Panhandle hasn’t been this active since 2019. Drilling down to the play level, multiple under-the-radar areas have seen notable increases as the rig count has climbed. The Granite Wash hasn’t been this active since 3Q19, …
Bond authority wants constitutional challenges consolidated
The Oklahoma Development Finance Authority responded this week to a lawsuit challenging the constitutionality of using a 2021 legislative act to help utilities spread out their 2021 winter storm costs to consumers over the coming years. In a filing with the Oklahoma Supreme Court in the case brought by former State Rep. Mike Reynolds, …
Regulators approve higher storm costs for PSO and CenterPoint Energy customers
In less than 10 minutes, Oklahoma Corporation Commissioners on Thursday approved the requests of two more utilities to use a special financing order to spread $800 million in 2021 winter storm costs out over an extended period of time and increase monthly costs to consumers for years to come. No discussions were held on …
Layoffs hit renewable energy company in Kansas and Iowa
An estimated 190 workers at Siemens Gamesa operations in Kansas and Iowa are losing their jobs and the company had already hinted that it was being harmed by supply-chain disruptions. Siemens Gamesa builds wind turbines and carries out related services from operations in Hutchinson, Kansas and Fort Madison, Iowa. Earlier in February, the company …
New solar startup coming to Oklahoma
Oklahoma is one of at least six states where a new solar startup company based in Florida plans to begin its operations. GTFPower has started operations out of DeBary,Florida and the firm plans to sell and install products for solar roofing, battery backup storage and electric vehicle accessories. Its initial targets will be Oklahoma, …
Increased adjusted earnings and cut in losses reported by NGL
Tulsa’s NGL Energy Partners LP managed to cut its quarterly losses and increase its adjusted earnings for the third quarter Fiscal 2022. The company announced Thursday its losses were slashed from more than $380 million a year ago to $19 million this year. The firm said it was primarily a result of a $383.6 …
Dividend declared by Phillips 66
The board of directors of Phillips 66 declared a quarterly dividend of 92 cents per share on Phillips 66 common stock. The dividend is payable on March 1, 2022, to shareholders of record as of the close of business on Feb. 22, 2022. Headquartered in Houston, the company has 14,000 employees committed to safety …
Other energy headlines
** Crude oil production in the United States could reach 12.6 million barrels daily next year, which would be a record high on an annual-average basis, the Energy Information Administration said in its latest Short-Term Energy Outlook. ** U.S. Steel Corp. (NYSE: X) is wasting no time in getting its new minimill in Osceola, Arkansas, up and running. …
Oil and gas group starts ad campaign against New Mexico Governor
The New Mexico Oil and Gas Association has launched an expensive ad campaign targeting Gov. Michelle Lujan Grisham and her Clean Future Act–a measure mandating greenhouse gas emissions statewide be net-zero by 2050. The oil and gas group charges in the ads that the Democratic-backed proposal would lead to rampant price inflation and …