After analysts predicted the world will see a surplus of crude oil in the coming year, prices dropped by more than 1% on Friday. Adding to the woes, Oklahoma energy stocks fell as well. Observers say a supply surplus is likely even as OPEC+ decided to delay its output increases for three months. West Texas …
New Mexico hits oil company with $48 million fine over environmental violations
New Mexico environmental regulators have hit Targa Northern Delaware LLC with a nearly $48 million fine and orders to do nearly $140 million in completion of projects and improvements to a processing plant. The New Mexico Environment Department (NMED) initiated an enforcement action against Targa Northern Delaware, LLC, a subsidiary of Houston, Texas-based natural gas …
Ritter Communications works hand-in-glove to expand broadband services in Arkansas
While Oklahoma has made recent strides of expanding its rural broadband service efforts in the state, a recent report showed neighboring Arkansas has led the nation in the increase of broadband connectivity since 2021. Arkansas’s success has also been due to Ritter Communications, a firm headquartered Jonesboro and serving 5 states. CEO is …
Advocacy group argues Oklahoma’s anti-oil discrimination act threatens free markets
The head of the advocacy group, Americans for Free Markets says Oklahoma Attorney General Gentner Drummond has it wrong in defending the state’s anti-oil discrimination act, the one called the Energy Discriminations Eliminations Act. John Wittman, executive director of the coalition of groups in support of free markets and economic growth, recently wrote how …
Unit Corporation declares quarterly and special cash dividends
Unit Corporation in Tulsa announced that its board of directors declared cash dividends for the fourth quarter and a special payment to shareholders. a quarterly cash dividend of $1.25 per share of common stock for the fourth quarter of 2024 to be paid on December 27, 2024, to shareholders of record as of …
OKC military drone-maker Kratos hit with Red China sanction
Oklahoma City-based drone manufacturer Kratos was among U.S. military drone producers sanctioned this week by Red China in protest over the US arms sales to Taiwan. It represented mainland China’s sixth round of sanctions against American defense contractors. Beijing, upset about the sales to Taiwon, hit Kratos and 12 other US defense companies along with …
Crude oil prices fell Thursday while OPEC+ delays increased production
The decision by OPEC+ to delay restarting its oil production growth by three months initially sent crude oil prices climbing on Thursday—then they settled lower about supply concerns. Reuters reported the Organization of Petroleum Exporting Countries and allies, better known as OPEC+, decided to wait three months before restarting increased oil production. It was …
Supreme Court Justice recuses from oil railway case
The controversial Unita Basin Railway, the one that would transport oil from Utah, across Colorado and eventually to the Cushing Hub in Oklahoma, prompted U.S. Supreme COurt Justice Neil Gorsuch to recuse himself this week from the case. Arguments are scheduled for Dec. 10 but Gorsuch once was an attorney for Denver billionaire Philip …
Judge rules against legislator’s complaint about Corporation Commissioner Hiett
After a contentious hearing in which Oklahoma Corporation Commissioner Bob Anthony attempted to question Oklahoma Natural Gas attorneys about their knowledge of any details of the sexual claims made against commissioner Todd Hiett, an Administrative Law Judge on Thursday ruled against a state legislator’s complaint against Hiett to have him removed from the …
Energy briefs
** President-elect Donald Trump has selected Jared Isaacman, entrepreneur, pilot, and all-around space enthusiast, as the next NASA administrator, marking a major shift in the space agency’s leadership. ** A Chinese hacking campaign that has spied on the texts and calls of U.S. citizens by hacking telecommunications companies is significantly larger than previously known to the …