A two year old fight over the efforts of the Nebraska Public Power District to cancel power purchase agreements with four wind farms in the state led to a federal appeals court ruling against the District this week. The 8th Circuit Court of Appeals upheld a federal judge’s order that originally blocked the Power …
Wind farm fraud trial underway in Arkansas
A string of unpaid bills and broken promises. It was the testimony in the federal fraud trial of two men accused of deceiving investors in a wind farm they promised to build in northwest Arkansas. Their trial began this week in Fayetteville according to the Northwest Arkansas Democrat-Gazette. Click here for Democrat-Gazette.
SE Oklahoma earthquake rumblings result in suspended well operations
Just when Oklahoma thought it might have its earthquake challenges under control, the state has had to suspend operation of another disposal well thought to be connected to recent quakes. This time, the shaking is in southeast Oklahoma near the small town of Quinton in Pittsburg County. Historically, wells in northern Oklahoma were targeted …
Rig activity shoots up in Permian Basin but falls in Anadarko Basin
The number of rigs running in the U.S. rose by 13 in the last week to 587 as of Aug. 25, according to Enverus Rig Analytics. The count is up 3% on the month and up 115% since this time last year. The largest week-over-week changes occurred in the Permian Basin (plus nine to …
LSB Industries set to hold special shareholders meeting
A special stockholders meeting is planned for September by Oklahoma City-based LSB Industries, Inc. in which they’re asked to approve an exchange agreement with LSB Funding LLC, an affiliate of Eldridge Industries, LLC. LSB’s Board of Directors is recommending approval of the proposed exchange of shares held by Eldridge for shares of LSB common …
Energy news in brief
** Mexico’s state-owned oil company said Tuesday the possible remains of two missing subcontractors had been found on one of its oil platforms in the Gulf of Mexico following a weekend fire. ** Yara International now expects to sail the first autonomous, fully electric cargo ship in Norway by the end of 2021. The Yara Birkeland …
IPO filed by ConocoPhillips affiliate
The ConocoPhillips affiliate Solaris Midstream Holdings is reported to have made an initial public offering. Reuters reported the IPO, explaining that ConocoPhillips has a 30% holding in Solaris. The company supplies water for oil and gas fracking operations and has operations in Texas and New Mexico. The IPO is expected to attract possible investors …
Crude oil storage holds steady at Cushing
U.S. crude oil storage continues to fall according to the U.S. Energy Information Administration which indicated oil held at the Cushing hub was nearly the same over the past two weeks. In a Wednesday release, the US EIA stated that Cushing’s crude oil storage as of August 20 amounted to 33.7 million barrels, up …
EIA—number of drilled but uncompleted wells declines
The government said Wednesday the number of drilled but uncompleted wells reached 5,957 in July 2021, the fewest in any month since November 2017 while the number in the Anadarko Basin which includes Oklahoma is at its lowest level since 2018. The Energy Information Administration released its Drilling Productivity Report and stated the drop in DUCs …
1% gain in crude oil prices on Wednesday
Crude oil prices extended their gains on Wednesday for a third straight day after the U.S. government indicated fuel demand had reached its highest level since the start of the COVID-19 pandemic. Energy stocks in Oklahoma also managed some slight gains. Prices rose more than 1% as global benchmark Brent crude for October delivery …
