As Oklahoma businesses begin to reopen, the number of initial Unemployment Insurance claims filed with the Oklahoma Employment Security Commission (OESC) reached its highest weekly reported level since the onset of the Energy and Covid-19 crises. For the week ending May 2, 2020, unadjusted initial claims in Oklahoma totaled 68,237, an increase of 15,737 …
Gasoline prices increased in about a dozen states including Oklahoma in the past week and pushed the national average up a penny to $1.78 a gallon. Oklahoma’s average rose 5 cents from a week ago to $1.42 according to AAA Oklahoma. Oklahoma City’s average rose four cents to $1.44 as the city kissed goodbye to …
Oklahoma Corporation Commissioners on Thursday came out in support of a proposed order regarding moratoriums by utilities from collecting unpaid bills as a result of the COVID-19 pandemic. They support the moratorium but also say utilities at a later time should be allowed to attempt to collect bad debts. By a 3-0 vote, the …
OERB chairman Mike McDonald had a special note of encouragement, optimism and belief in Oklahoma’s oil and gas industry in the midst of the coronavirus pandemic. He wrote the note in the newsletter from the OERB. We are living through unprecedented times. COVID-19 and the chaos in the economy is affecting every one of …
American Electric Power CEO Nick Akins says May will be “an important month” for its 1.5 GW North Central wind project, telling analysts during Wednesday’s Q1 earnings call that the company expects action soon by Louisiana and Texas regulators. The North Central project involves the purchase of three wind facilities being developed by Invenergy in Oklahoma — 199 …
New Mexico leaders are struggling like others across the nation in dealing with a near economic collapse because of the coronavirus pandemic. But theirs, like one in Oklahoma is suffering because of the downturn in oil and gas and New Mexico anticipates the pandemic will mean the state will collect $2 billion less than project. …
Oklahoma pipeline operator Williams has landed a deal to haul natural gas from an offshore project being developed by Chevron and French oil major Total in the Gulf of Mexico. Financial terms were not disclosed but under the deal, Williams will develop an underwater pipeline to move the natural gas from Chevron and Total’s deepwater …
North Dakota officials have launched what they call the Bakken Restart Task Force as Gov. Doug Burgum hopes his state can avoid what he calls an “economic Armageddon.” The task force was formed to help oil and gas producers recover from falling crude prices due to plummeting demand over the coronavirus pandemic that has struck the …
OGE Energy Corp on Thursday reported a net loss of $492 million or $2.46 a diluted share and cited an impairment of $780 million largely due to losses related to its interest in Enable Midstream Partners LP. OGE Energy, parent company of OGE is a 50% general partner in Enable and said its $2.46 a …
Occidental Petroleum Corp this week swung to a first quarter $2.2 billion loss on writedowns and charges, and the troubled U.S. oil producer cut its budget for the third time since March in response to a historic oil-price crash. The company has been struggling with debt taken on in last year’s $38 billion acquisition …