Williams announced that it has finalized an upstream joint venture with Crowheart Energy in the Wamsutter Field of the Greater Green River Basin of Wyoming. The joint venture involves the consolidation of three legacy operating assets consisting of over 1.2 million net acres, over 3,500 operating wells, and more than 3,000 potential development …
Nation’s oil and gas rig count increased in past week
The number oil oil and gas rigs actively seeking new energy in the U.S. rose by 5 in the past week to reach 475 while Oklahoma’s numbers were unchanged. Oklahoma’s rig count remained at 27 compared to the 10 rigs reported one year ago this past week according to figures supplied by Baker Hughes …
Despite Friday slip, US crude oil prices remain above $75
Investors await Tuesday’s crude oil trading to see if US prices rebound from the Friday slip and whether European prices continue their climb upward. The drop in the benchmark U.S. crude oil prices also dragged some Oklahoma energy stocks with it. West Texas Intermediate crude oil for August delivery slipped 7 cents to $75.16 …
Gasoline demand results in drop in Cushing crude oil storage total
The summer driving season is here and with it an increased demand for gasoline which in turn caused a drop in the amount of domestic crude oil in storage at the Cushing hub in northern Oklahoma. Reports indicate inventories at Cushing fell by 1.5 million barrels in the week leading up to June 25 …
Railways to build operation to supply oil to Mexico
Kansas City Southern and Midstream Texas Operating LLC announced a long-term commercial agreement to provide truck-to-rail transloading services for petroleum and petrochemicals from Corpus Christi, Texas into Mexico. Operations are expected to begin in fourth quarter 2021. “KCS is looking forward to working with MTO to expand infrastructure to supply petroleum products to Mexico …
Energy news in brief
** General Motors Co is investing in a U.S. lithium project that could become the country’s largest by 2024, making the automaker one of the first to develop its own source of a battery metal crucial for the electrification of cars and trucks. ** Three major European truck manufacturers – Daimler Trucks, AB Volvo and Traton – …
Infrastructure bill—another name for Green New Deal?
The $715 billion transportation infrastructure and green energy measure passed by the House on Thursday did not have the support of Oklahoma Representatives. All five voted against the measure which passed 221 to 201 with all Democrats and two Republicans supporting the INVEST in America Act. Rep. Markwayne Mullin issued a statement following the …
Corn state Representatives respond to Supreme Court refinery ruling
Corn states members of Congress who were upset over this week’s U.S. Supreme Court victory for CVR Refinery in Wynnewood, Oklahoma and a few other small refinery operators, responded Friday with a newly-drawn bill aimed at limiting exemptions on mandated blended biofuels. The Wynnewood refinery and those run by Holly Frontier now have a …
FTC issues order over 7-Eleven’s acquisition of Speedway stores
Concerns over competition led to a Friday announcement by the Federal Trade Commission concerning 7-Eleven’s $21 billion purchase of 4,000 Speedway stores in 36 states. The FTC said 7-Eleven Inc. and Marathon Petroleum Corp. agreed to divest from locations in nearly 300 markets. Click here for story from Springfield News-Sun in Ohio. .
TC Energy wants billions in damages over cancellation of Keystone XL pipeline
President Biden’s cancellation of the permit allowing construction of the Keystone XL pipeline is coming back to haunt him as developer TC Energy Corp announced it wants $15 billion in damages from the U.S. government for his actions. The Canadian pipeline operator said on Friday it had filed a notice of intent to begin a …
