Chesapeake Energy reported it has managed an 80% reduction in its methane emissions from company operations since 2020. The revelation was included in Chesapeake’s 2023 Sustainability Report released on Tuesday. It was the firm’s 12th year reporting on its environmental, social and governance (ESG) performance. Chesapeake said the reporting reflects its commitment to transparency, …
Permian Basin oil production to grow in 2024
The Permian Basin won’t see any reduction in crude oil production this year. In fact, the U.S.. Energy Information Administration forecasts an 8% increase compared to 2023. It expects crude oil production to average about 6.3 million barrels a day this year. The Permian Basin, where numerous Oklahoma oil and gas firms have operations, accounts …
Lithium well drilled in Arkansas’ Smackover formation to develop EV batteries
Another lithium well has been drilled in the Smackover formation of southern Arkansas, a well that could be used for development of the mineral sorely needed for production of electric vehicle batteries. Houston-based TerraVolta Resources LLC announced it had drilled a “successful” lithium appraisal and supply well. IT also said global investor EMG had …
Attorney General appeals Judge’s suspension of energy discrimination Act
The State Attorney General is appealing a district court judge’s ruling to suspend enforcement of Oklahoma’s Energy Discrimination Elimination Act, the one that banned state agencies from doing business with financial firms that discriminate against the oil and gas industry. Filings show Attorney General Gentner Drummond’s office took the ruling by Oklahoma County District …
A puzzle in the Permian Basin—what’s causing old wells to erupt with salt water?
A mystery in the Permian Basin. What is causing a growing number of abandoned oil and gas wells to erupt with saltwater. The Texas Railroad Commission has yet to find a cause of the eruptions of that increased in the past few years. It is still investigating. In one case, an eruption of …
Wind farms face growing restrictions in Iowa
Iowa may be one of the top three wind-power states in the country, but some of its counties want tighter restrictions on wind farm growth. Iowa’s second-most populated county took action this week to move ahead with an ordinance adding tighter regulations to utility-scale wind solar projects. One restriction would cover sound levels reported …
Enviros file suit to stop oil and gas drilling near National Grassland in Colorado
The environmental group, the Center for Biological Diversity, went to court this week against the federal government, accusing the U.S. Bureau of Land Management of failing to protect shortgrass prairie in Colorado’s Pawnee National Grassland. The Grassland is in the northeast part of Colorado and located 35 miles east of Fort Colllins. It is …
Oklahoma tax collections on oil and gas rose in May
Gross production tax revenues on oil and gas for May in Oklahoma increased, according to a report from State Treasurer Todd Russ. “With the last month’s reporting increases, we see leveling across all tax divisions,” stated the treasurer in his report. May Gross Receipts reports an increase with totals equaling $1.3B, up $20.2M, or 1.6% when …
Devon loses federal court challenge of millions in government royalty payments
Devon Energy recently lost an 8-year legal fight with the Interior Department over increased royalty payments the Oklahoma City oil and gas company was to pay for gas production from federal lands in New Mexico. Devon challenged the 2016 order from the Interior Department’s Office of Natural Resources Revenue to pay $2,841,264.58 after the ONRR …
Energy briefs
** Bill Gates and his energy company are starting construction at their Wyoming site for a next-generation nuclear power plant he believes will “revolutionize” how power is generated. Gates was in the tiny community of Kemmerer Monday to break ground on the project. ** The Supreme Court solicited the Biden administration’s views on two lawsuits by the city of …