Congressman Markwayne Mullin voiced his frustrations via Facebook with U.S. Secretary of Agriculture Sonny Perdue. He calls out Perdue for a lack of response to the crisis brewing within the beef industry. Mullin’s rant was posted Friday afternoon according to the McCarville Report. The Second District Congressman is a cattle rancher and owns a …
Williams won’t try again for pipeline extension in New York
After New York Gov. Cuomo rejected the latest request of Tulsa’s Williams Cos. to build a $1 billion natural gas pipeline, the Oklahoma-based company indicated it has wiped its hands of attempting to get state approval. It will not refile applications to build the Northeast Supply Enhancement project to carry natural gas to heat …
Texas fears losing oil-rich lands in Chinese takeover of weakened energy companies
With the rapid growth of the number of oil and gas companies filing bankruptcy during the coronavirus pandemic, those companies, some in Oklahoma too, are ripe for takeover. There’s a growing concern that China could take control of those struggling companies. The concern has been never higher than in Texas where 98 energy companies …
Uncle Sam tells wind and solar operators rent-free holiday is over
At least one wind power company with operations in Oklahoma and on federal lands is being hit with millions in rental bills as the federal government ends a two-year rent holiday for solar and wind projects. Next Era is among those companies that also has operations on federal land but now is being asked …
Mammoth Energy board member quits in disagreement over operations
In a difference of opinion over the way Mammoth Energy’s leadership was operating, board of directors member Jonathan H. Yellen has resigned immediately. The resignation was revealed in a May 14 filing the company made with the Securities and Exchange Commission. Yellen, a Dallas attorney and founder of investment company Greyhart Capital, also informed the …
Oil operators await NYMEX reaction to end of latest oil contracts
A month after oil futures plunged to nearly $38 negative, another oil contract for traders expires this week. And it’s led to a lot of speculation whether negative territory will be seen again. Whatever happens, it might play a role in affecting any decision by Oklahoma regulators on a request to declare produced oil “waste” …
Chesapeake Energy shares soar in Friday’s trading
Days after Oklahoma City’s Chesapeake Energy admitted it might fail if it cannot file Chapter 11 bankruptcy, the company’s stock soared nearly 24% in trading on Friday. The shares rose so quickly Friday morning that five trading halts were triggered because of volatility according to a report by Market Watch. By day’s end, Chesapeake shares …
Tulsa is a finalist for a Tesla car plant
Hopes are high. Fingers are crossed. Perhaps some good economic news can come out of the coronavirus pandemic as Tulsa is one of two finalists for a new Tesla assembly plant. The other is Austin, Texas according to the Tulsa World which quoted an unidentified person “brief on the matter.” According to the newspaper, Tesla …
HEROES Act approved without support of Oklahomans in the House
Even though the $3 trillion Democrat coronavirus stimulus bill, the one labeled as a “parade of absurdities,” included support for her plan to make cheap oil purchases for the U.S. Strategic Petroleum Reserve, Oklahoma Democrat congresswoman Kendra Horn couldn’t and didn’t vote for the measure on Friday. It passed on a 208 to 199 vote …
Oil operators await possible action by regulators on “Waste” oil request
Oklahoma Corporation Commissioners have yet to set a date for any public comment or decision on a request by some oil operators to declare the current production of crude oil a “waste” thereby allowing those operators to safely shut-in their wells. The Commission has a Tuesday morning signing agenda but it does not include …