First quarter finances at Tulsa’s Empire Petroleum showed a significant drop because of extreme winter conditions and a pipeline failure that led to a short-term 75% decrease in net production. Empire’s first quarter total product revenue was $9 million, a net loss of $4.2 million or 12 cents a share. Its adjusted EBITDA was a …
Sen. Chuck Schumber’s attempt to predict higher energy prices in Wyoming would be a result of Republican tax cut efforts in Congress didn’t go over well with Wyoming U.S. Sen. John Barrasso. When Barrasso heard the claims of the Senate Minority Leader, he had his say. “Know why he’s in the minority, and we’re …
Congresswoman Bice joined President Donald J. Trump at the White House this week as he signed her legislation H.J.Resolution 24, into law. The resolution permanently nullifies restrictive Biden-era regulations on walk-in coolers and freezers, which placed significant financial strain on small businesses and highlighted blatant federal overreach. “Today is a victory for America’s small …
** Congressional Republicans advance a measure to allow oil and gas companies to pay a $10 million fee to fast-track federal permitting reviews and bypass years of environmental reviews and litigation. ** Clean Refineries Inc. announces plans to invest $1 billion to redevelop a petroleum terminal in Louisiana into a net-zero emissions refinery to make …
Scott Mitchell talks energy with Jerry Bohnen. What’s the old Yogi Berra saying “it ain’t over till it’s over” got to do with energy and the legislature? Plenty if you consider what Oklahoma Gov. Kevin Stitt did regarding SB998.
Word of a U.S. energy stockpile gain made last week sent crude oil prices falling on Wednesday and Oklahoma energy stocks also had losses. The climb in stockpiles left investors worried about excess supplies. Reuters reported the benchmarks fell after data from the Energy Information Administration showed crude stockpiles rose by 3.5 million …
Governor Kevin Stitt allowed a controversial utility bill to become law without his signature on Wednesday and opponents of SB998 suggested a constitutional challenge is coming. They also were not happy with the governor’s handling of the measure that opponents contend will lead to immediate costs for consumers. The measure is controversial because …
The nation’s crude oil stocks rose in the most recent reporting period reported the federal government while the Cushing Hub in Oklahoma saw a decrease of more than 1 million barrels. The U.S. Energy Information Administration reported the U.S. crude stocks totaled 441.8 million barrels as of the week of May 9. It …
The Oklahoma Legislature has officially approved Senate Bill 912, authored by Sen. Paul Rosino, R-Oklahoma City, marking a major step forward in the state’s efforts to position itself as a national leader in the space industry. Senate Bill 912 merges the responsibilities of the Oklahoma Space Industry Development Authority (OSIDA) within the Oklahoma …
While one controversial energy bill sent to the Governor of Oklahoma became law this week, others met a quick death in the legislature while a few remain works in progress. SB998, the “CWIP” or construction while in progress cost that will be billed to ratepayers at the time of the electrical project is being …