** Texas’ power grid operator on Wednesday cited 12 energy companies and two municipal utilities for failure to pay their bills for power and services during February’s deadly blackout that has led to the ouster of the operator’s chief executive. ** General Motors plans to build a second battery factory and is eyeing Tennessee as a probable location as …
Firm cites big jump in US rig activity
Oil and gas drilling operations in Oklahoma reportedly fell in the past week but a new report by the Austin-based Enverus Rig Analytics showed a total U.S. rig count increase of 19 as of this week. The company reported the increase put the rig count at 468, an increase of nearly 5% over the …
Gasoline prices creep closer to $3
The record plunge in gasoline stockpiles last week across the U.S. is threatening more and more motorists with $3 gasoline for the first time in six years and prices in Oklahoma are moving closer to the high price. Reports show gasoline inventories fell by 13.6 million barrels after the winter storm that pounded Oklahoma, …
CVR Energy struggles with full-year losses
CVR Energy, the owner of the Wynnewood Refinery in southern Oklahoma and other refineries across the country recently reported a fourth quarter 2020 net loss of $67 million or 67 cents a diluted share. For all of 2020, the company had a net loss of $256 million or $2.54 a diluted share. The …
SandRidge reports 2020 losses as it adjusts to downsizing
SandRidge Energy released its earnings report showing a fourth quarter loss of $0.2 million while full-year 2020 losses totaled more than $277 million or $7.77 a share. After sales of assets, the company expects to move forward with reduced capital expenditures and debt. The Oklahoma City company said the quarterly loss was one …
Drilling interest grows in Oklahoma
Oklahoma’s Canadian County will see more oil and gas exploration based on new drilling permits approved this week by the Oklahoma Corporation Commission. Camino Natural Resources LLC received permits for two wells on a single pad. The RED RIVER 1208 #24-13 wells will be drilled at a site approximately one mile southwest of the city of El …
US crude rebounded Wednesday to settle above $61
Skip to content Crude oil prices ended their slide on Wednesday after two consecutive days of falling. West Texas Intermediate crude for April delivery went up $1.53 to $61.28 a barrel. Global benchmark Brent crude for May delivery rose $1.37 to reach $64.07 a barrel in trading on ICE Futures Europe. April natural gas fell …
PSO joins campaign against scams
National Consumer Protection Week is underway and as a member of Utilities United Against Scams, Public Service Company of Oklahoma joined this weeklong advocacy campaign to educate customers on how they can guard against falling victim to imposter utility scams. In 2020, PSO received 437 calls from customers reporting an attempted scam. It is …
The United States installed more wind turbine capacity in 2020 than in any other year
The government reported Wednesday that that 2019 and again in 2020, the U.S. installed more wind power capacity than any other generating technology and wind farm construction in Oklahoma added to the total. Oklahoma remained third in net electricity generation from wind and other sources in 2020 according to the Energy Information Administration. The …
Oil and gas revenues are still hurting in Oklahoma
Oklahoma State Treasurer Randy McDaniel sees signs of a slightly improving economy in Oklahoma as February gross receipts were down less than one percent from a year ago while sales tax receipts were up nearly 8%. But oil and gas is still hurting as reflected in the latest tax revenue figures. Still lagging was …