The latest electric vehicle manufacturer to file for bankruptcy, Nikola, is part of a list of EV makers who have gone broke that includes Canoo, the totally bankrupt company with a manufacturing plant in Oklahoma City and operations in the eastern city of Pryor. Canoo’s CEO Tony Aquila had high hopes and convinced Oklahoma …
Vital Energy’s hunt for more oil in the Permian means increase in rigs
In a new report, Vital Energy of Tulsa indicated it plans a small expansion of its drilling efforts in the Permian Basin where it focuses its exploration. It’s also in the hunt for more acreage in West Texas. The SEC filing 10-K report indicated Vital plans to run four to six drilling rigs and one to …
ONEOK’s 4Q earnings reached nearly $1 billion
ONEOK reported nearly $1 billion in net income in the fourth quarter of the year and about $3 billion for all of 2024. The Tulsa-based company gave credit in part to higher rates approved by Oklahoma regulators. “ONEOK’s strong performance in 2024 was driven by contributions from multiple strategic acquisitions, volume growth and fee-based …
Energy briefs
** Chevron said on Monday it would reorganize some of its business structures and reshuffle the leadership team, the latest move by the U.S. energy major to simplify its operations. The company has said it would lay off up to 20% of its global workforce by the end of 2026, as it navigates cost overruns and a …
Crude oil made gains Monday while OK energy stocks dropped
Fresh sanctions on Iran sent crude oil prices higher on Monday. It was considered a recovery from the steep losses recorded on Friday. Adding to the increased oil prices were concerns of near-term supply tightness. Oklahoma energy stocks experienced negative territory for the day. West Texas Intermediate crude rose 43 cents or 0.6% to …
Say goodbye to the record-breaking frigid weather
Just in case you were wondering how long areas of Oklahoma were below freezing…..the Oklahoma Mesonet has the answer. Climatologist Gary McManus said, “Miami was the last Mesonet site to break back above freezing, right at about 113 hours.” While you remember just how cold it was in the state, this week’s warm weather …
New CFO named at Baker Hughes Company
A new Chief Financial Officer was named this week at Baker Hughes Company. The firm said Ahmed Moghal, an experienced finance leader who is the current chief financial officer of the company’s Industrial & Energy Technology business was named CFO effective immediately. He succeeds Nancy Buese, who by mutual agreement with the company, according to …
Corporation Commissioners busy with exempted public meetings
Since the end of January, Oklahoma Corporation Commissioners have used a new state law to meet four separate times in exemption of Oklahoma’s Public Meetings law. The meetings, their times, places and who attended are revealed in the Commission’s website. The most recent such meeting, which like the others was not announced to the …
Executive change announced at state’s grid manager
A retirement of one executive officer at the Southwest Power Pool resulted in the naming of a new senior vice, chief technology an security officer. The SPP announced this week the selection of Felek Abbas for the position which combines his current duties as chief security officer with new responsibilities for overseeing information technology and …
Waterways used to deliver turbine for Grand River Dam Authority
A large advanced gas turbine recently made the trip up the McClellan–Kerr Arkansas River Navigation System to be used by the Grand River Dam Authority in providing electricity to its customers. The Mitsubishi Power turbine arrived at the Tulsa Ports Low Water Wharf at the Port of Catoosa, according to a monthly report by …