After five years, the U.S. Nuclear Regulatory Commission this week approved a permit to Holtec to construct a temporary nuclear waste storage operation in New Mexico. The facility will be located between Hobbs and Carlsbad and hold nuclear waste underground on private land. The Carlsbad Current Argus reported the initial storage will consist of …
Better than expected 1Q results for Tulsa’s Vital Energy
First quarter earnings were posted by Tulsa’s Vital Energy, Inc. showing stronger oil production than predicted and nearly $114 million in net income from its operations in the Permian Basin. “The benefits of Vital Energy’s strategy were evident in our outstanding first quarter results,” commented Jason Pigott, President and Chief Executive Officer. The company reported …
Oil and gas drilling ban proposed for Colorado’s Thompson Divide
The Biden administration is proposing a possible ban of oil and gas drilling along with mining on the 225,000-acre Thompson Divide in western Colorado. The U.S. Forest Service and Bureau of Land Management plan meetings on the possibility such a ban would exist for up to 20 years. The meetings will be held in …
Arkansas regulators order Summit to stop shutoffs
The Arkansas Public Service Commission voted this week to approve an order telling Summit Utilities Inc. not to collect late fees or suspend service for more than 400,000 customers in the state while its billing and pricing practices are under investigation by the Attorney General. Summit, a natural-gas provider that also has customers in …
Brief energy reports
** The U.S. Energy Information Administration (EIA) expects that a slightly cooler summer in 2023 will lead to less demand for air conditioning than in 2022, slightly reducing overall demand for electricity this summer. In its May Short-Term Energy Outlook (STEO), EIA expects that despite less electricity demand this summer, more electricity will be generated from renewable …
Tribes disagree over government plan to stop oil and gas drilling around New Mexico’s Chaco historic site
A tribal argument has developed over the Biden administration’s plans to stop new oil and gas drilling near the sacred Chaco site in New Mexico. Turns out the Navajo Nation doesn’t support the idea, proclaiming its members should have the right to develop the resources if they want. Reuters reported it puts the Navajo …
Small gains made by crude oil while OK energy stocks made a weak showing
Crude oil prices recorded more gains on Tuesday but most Oklahoma energy stocks incurred losses. The prices reversed a 2% drop earlier in the session to record minor gains after news that the Biden administration plans to refill the Strategic Petroleum Reserve. West Texas Intermediate crude finished up 24 cents or 0.3% to settle …
ONG is asking for higher rates
Oklahoma Natural Gas is warning customers it has applied for another rate hike that would add $2.57 to an average customer’s bill and total nearly $28 million. In a letter to ONG customers, the utility said a hearing will be held June 5 at 9:30 a.m. before a Corporation Commission Administrative Law judge on …
Special meeting of Oklahoma Corporation Commissioners
Oklahoma Corporation Commissioners plan a special meeting on Thursday to consider fuel adjustment requests of two natural gas utilities. In the 1:30 p.m. meeting on Thursday, commissioners will review the request of Arkansas Oklahoma Gas Corporation (PUD2022-000106) for a fuel adjustment of the calendar year 2021 and a prudence review of the fuel procurement processes. …
Colorado wants to ban utilities from lobbying with ratepayer’s money
Colorado legislators want to make sure public utilities aren’t allowed to use ratepayer money to carry out lobbying and funding of trade associations. The Colorado Senate voted 23-12 this week to pass the Utility Regulation Act, following a House vote of 46-19, and the bill is expected to be signed by Governor Polis. The legislation followed hearings …
