Oklahoma Corporation Commissioners will meet Thursday to consider a settlement agreement reached over the $2.46 billion renewable energy project proposed by Public Service Company of Oklahoma. The joint stipulation and settlement agreement was announced last week by Attorney General Gentner Drummond who finally signed onto the settlement for the need of the project. “With …
PSO announces robotics grants to Oklahoma schools
Public Service Company of Oklahoma (announced more than $35,000 in robotics grants to 16 school groups throughout the state. The grants range from $250 to $3,200. The FIRST (For Inspiration and Recognition of Science and Technology) robotics grants program is a nationwide initiative that supports pre-kindergarten through grade 12 student education with an emphasis …
ONEOK reports more than $1 billion in 1Q net income
ONEOK Inc. reported first quarter 2023 financial results which included more than $1 billion in net income, part of which resulted from a $930 million settlement reached last year over a disastrous fire at its Medford gas plant. Total net income was $1.05 billion resulting in a $2.34 per diluted share. Adjusted EBITDA was …
Chesapeake Energy confirms another strong quarter for the OKC company
Another strong quarter was reported by Chesapeake Energy as it had $1.3 billion or $9.60 per diluted share in net income. The Oklahoma City’s adjusted net income was $270 million or $1.87 per share during the first quarter of the year, according to the company announcement. It also said it delivered …
Empire Petroleum names new CFO and board member
Empire Petroleum in Tulsa announced that Stephen L. (“Larry”) Faulkner has been promoted to Chief Financial Officer for the Company and J. Kevin (“Kevin”) Vann has been named to the Company’s Board of Directors as an independent director. Both appointments were effective April 28, 2023; both were part of a proven operational team that …
Ascent Resources provides update in financial notes status
Oklahoma City’s Ascent Resources Utica Holdings, LLC recently provided an update on its financial transactions. It announced it had issued a notice of prepayment to the Wilmington Trust, National Association as the administrative agent for its Second Lien Term Loans that are due in 2025. The Notice calls for the full redemption of the Second …
Haynesville natural gas production hit a record high in March 2023
Data source: Enverus, state administrative data Oklahoma energy companies such as Chesapeake Energy and Devon Energy were part of record dry natural gas production in the Haynesville shale play in northeastern Texas and northwestern Louisiana. The U.S. Energy Information Administration reported production averaged 14.5 billion cubic feet per day (Bcf/d), 10% more than the 2022 …
Right of first refusal bill for utilities filed in Missouri legislature
While a move to expand the Right of First Refusal law in Oklahoma stalled in the legislature, a similar effort is underway in Missouri. There, a legislator filed a bill he contends will give more state control over the construction of power lines across northern parts of the state. KMA Radio reports the bill …
Ovintiv scores with more big producers in Kingfisher County
Mention Ovintiv USA and Kingfisher County in Oklahoma and visions of big producing oil wells come to mind. It happened again as the company reported completions on four wells drilled on a single pad with combined oil production of nearly 4,300 barrels a day. All four Gravitt wells were drilled at 30 15N 7W, …
Short energy stories
** A jury finds all four defendants guilty of bribery conspiracy in a case involving former ComEd executives accused of arranging jobs, contracts and money for allies of former Illinois House Speaker Michael Madigan in exchange for favorable legislation. ** The White House is trying to persuade Congress to pass a 30% tax on the electricity used …
