Halliburton saw improved net income in the third quarter 2021 over the second quarter, announcing total revenue of $3.9 billion compared to $3.7 billion the previous quarter. The Houston based company that was founded in Oklahoma said its net income for the quarter was $236 million or 26 cents a diluted share, better than …
3Q to show if Gulfport Energy’s growing stronger after bankruptcy
Third quarter earnings for Oklahoma City-based Gulfport Energy Corporation will be revealed in two weeks as investors await to see how the company is doing following its second quarter emergence from bankruptcy. The company announced it will release the report after the close of markets on Tuesday, Nov. 2. Leadership will hold a teleconference …
Senators complain of slow USDA help for biofuels
Republican Senators from Kansas, Nebraska, Iowa and South Dakota came out this week and urged Ag Secretary Tom Vilsack to end the delay on financial help for the biofuels industry in their states. In a letter to the Secretary, the Senators said it was past time that “hardworking biofuel producers receive the critical aid …
Other energy stories in brief
** Occidental Petroleum OXY announced that it has entered into a definitive agreement to sell its shares in two non-core offshore assets in Ghana. The agreement includes Occidental’s interests in both Jubilee and TEN fields. ** Mexico’s manufacturing sector stands to benefit from a U.S. transition away from fossil fuels including through the creation of jobs for making …
Inhofe again wonders about pitfalls of renewable energy sources
Oklahoma U.S. Sen. Jim Inhofe repeated his concern this week that some “green” renewable energy sources carry their own baggage and he pointed to piles of old wind turbine blades as an example. The Senator has spoken previously of his concerns about junkyards of turbine blades and EV batteries and repeated them in a …
Anadarko Basin oil production slipped in October
A new government report shows oil production fell in the Anadarko Region of Oklahoma while rig numbers increased in October. The U.S. Energy Information Administration reported the October 2021 new-well oil production per rig was 899 barrels a day and expected to drop to 845 barrels a day in November. New-well gas production per …
New Mexico completes PFAS sampling for private wells around Cannon Air Force Base
The testing of private wells around eastern New Mexico’s Cannon Air Force base to see if they are contaminated with “forever” chemicals from the military installation was recently finished by the state’s Environment Department. The New Mexico Environment Department concluded testing of private wells for per- and polyfluoroalkyl substances (PFAS) in Curry and Roosevelt …
Permian production approaches pre-pandemic high
Surging oil prices have resulted in increased oil production in the Permian Basin as it is reaching close to a record set in March 2020, thanks to drilling activity by Oklahoma companies such as Devon Energy and others. October’s average daily production in the prolific basin of West Texas and Southeast New Mexico is …
$3 or higher gasoline in nearly half of Oklahoma’s counties
“Sorry folks, but the cost of gasoline is still going up” That’s the headline from the AAA this week as the national average for a gallon of gasoline rose a nickel to hit $3.32 while in Oklahoma, the average went up 8 cents to $2.97 a gallon. Nearly half of the state’s 77 counties, …
Crude still above $82 a barrel in US and Europe
The drop in U.S. industrial output in September left oil prices weak on Monday as Brent fell while US prices rose only slightly. But both remain above $82 a barrel. Both touched multi-year highs earlier in the day but enthusiasm for higher oil prices waned later. Brent crude for December delivery dropped 62 cents …