Whether it was another of his exaggerated stories that cannot be verified, President Biden in his State of the Union address Tuesday night told Congress the nation will still need oil and natural gas for years to come. This from the President who launched an attack on the oil and gas industry from the …
Gulfport hurt by December’s frigid weather
Gulfport Energy in Oklahoma City revealed this week its natural gas production was hurt by the December 2022 weather event called Winter Storm Elliott. The company made the admission in a filing with the Securities and Exchange Commission stating that the “abnormally cold temperatures across both Oklahoma and Ohio—led to production downtime.” Gulfport explained …
STACK keeps yielding big oil producers
Blaine County, one of the three primary counties that makes up Oklahoma’s oil-rich STACK play, was the source of a strong producer for Marathon Oil Company. The company filed a completion report on the Alta Bia 1511 3-31-30mxh, located at 19 15N 11W, 5 miles due south of Watonga. The well, completed in November 2022 …
Big day for OK energy stocks as crude oil prices rose 4% in US
Oklahoma energy stocks responded Tuesday with a strong day in trading as crude oil prices rose more than 3%. It came after Federal Reserve chairman Jerome Powell eased market worries over interest rate hikes. West Texas Intermediate crude went up 4.1% or $3.03 per barrel to finish at $77.14 on the New York Mercantile …
Kansas protesters call for more transparency around Keystone pipeline spill
Environmentalists and faith leaders in Kansas contend TC Energy has not been transparent about its Keystone pipeline spill in December that dumped 55,000 barrels of oil into a creek. They held a vigil this week at the state capitol in Topeka to call attention to their charges before state legislators reported the Kansas Reflector. …
Rep. Cole—Biden is to blame for country’s energy crisis
Congressman Tom Cole says it’s time the country had a plan and act on it to reverse the damage President Biden has done to the nation’s energy security by draining the Strategic Petroleum Reserve to its lowest level in 40 years. Writing this week, the Oklahoma Representative declared, “The Biden Administration’s ongoing war on …
EIA forecasts Henry Hub natural gas prices to be 47% lower this year
If the federal government forecast is accurate, natural gas prices at the Henry Hub in Louisiana will drop nearly half of what they were in 2022. All because of a warm winter. The forecast from the U.S. Energy Information Administration predicts natural gas prices at the Hub will average at $3.40 per million British …
State Senator wants renewable energy land leases unitized to be more equitable
A bill before the Oklahoma legislature would unitize wind and solar farm leases much the way unitization is implemented for oil and gas production. It might result in changes to the way Oklahoma landowners are paid for such renewable energy leases. SB770 was filed by Oklahoma City Democratic Sen. Carri Hicks and if approved, …
Basket of broadband expansion bills to be handled by Oklahoma legislators
The effort to expand broadband service in Oklahoma has the attention of state legislators as they are set to consider at least 10 bills directly related to broadband expansion in the state. The bills include HB1965 filed by Rep. Carl Newton of Cherokee. His bill would allow existing electric provider easements to also be …
Money-raising effort by Canoo results in dropping share prices
An announcement by electric vehicle startup Canoo, the company with a plant in Pryor and plans for another in Oklahoma City, that it agreed to sell discounted shares to raise $52.5 million sent shares sharply lower on Monday and again on Tuesday. Prices closed at $1.09 on Monday, down more than 12%. This was …
