With national gasoline prices averaging $3.60 a gallon, the Biden administration, much like it did in 2022 with the release of oil from the Strategic Petroleum Reserve, announced a move designed to ease prices. Critics contend it is a political move designed to attract support for President Biden who is slumping in the polls. …
Texas LNG plant contractor files bankruptcy
Problems at the construction site of a large Texas liquefied natural gas plant. Zachry Holdings, the lead contractor for the plant being built by Qatar Energy and Exxon Mobil, filed for Chapter 11 bankruptcy protection on Tuesday. The firm shared most of the $10 billion project called Golden Pass LNG. Reports indicated it was …
Layoffs at Chesapeake Energy ahead of merger vote by shareholders
The same day that shareholders of Chesapeake Energy voted whether to approve a proposed merger with Southwestern Energy, Chesapeake confirmed the layoffs of 80 workers. The layoffs represented about 10% of the Oklahoma City company’s workforce, reported The Oklahoman. The company explained the layoffs came as a result of Chesapeake’s sale last year of its …
OGE crews remain in Houston area helping with power restoration after last week’s deadly weather
Three days after a team of 100 OG&E linemen and support personnel deployed to Houston, Texas, crews have been working around the clock to restore power as quickly and safely as possible to areas affected by last Thursday’s severe storm. Since arriving, OG&E crews have been assisting CenterPoint Energy and began working Sunday morning …
Shareholders to meet Wednesday for ONEOK and Gulfport Energy
Annual shareholders meetings for ONEOK and Gulfport Energy will be held Wednesday. ONEOK’s will be a virtual meeting starting at 9 a.m. Central Time. The shareholders are asked to vote on the election of 10 director nominees, ratification of Pricewaterhouse Coopers LLP as the independent registered public accounting firm for ONEOK and on …
Crude oil slipped 1% over growing worries about inflation and high interest rates
Analysts say lingering US inflation that is keeping interest rates higher for more time than investors prefer, also played a role Tuesday as crude oil prices dropped 1% in the day’s trading. High interest rates might be behind less consumer demand at the gas pumps. West Texas Intermediate crude, considered the US benchmark, …
Texas bridge damaged by barge reopen for traffic
The Galveston, Texas bridge shut down last week after a barge loaded with fuel broke free from a tugboat and smashed into it was reopened in recent days to traffic. The Associated Press reported that safety inspections found the Pelican Island Causeway span to be safe. Part of the bridge collapsed May 15 …
Southwest Power Pool already at work on meeting new FERC transmission requirements
The Southwest Power Pool, the electric grid comprised of Oklahoma and 13 other states, is already at work in preparation for last week’s FERC order to expand the country’s power grid. Under FERC Order 1920, the 1,300-page regulation lays out how the U.S. power grid is planned and also funded. It also applies …
Lawton spending big bucks to renovate wastewater plant
by Mike Ray, Southwest Ledger The City of Lawton is investing perhaps $180 million or more to renovate its malfunctioning wastewater treatment plant. Phase I of the upgrade includes replacement of the administration building, influent pump station, grit removal system, trickling filter mechanisms, electrical conduit duct bank, electrical switchgear, automatic transfer switch for standby …
Norman Senator extends turnpike fight against ODOT director’s Senate nomination
The governor’s nomination of Tim Gatz to continue as the executive director of the Oklahoma Department of Transportation didn’t get a unanimous support Tuesday in an Oklahoma Senate Committee. Norman Sen. Mary Boren was the lone vote against the nomination as the Senate Aeronautics and Transportation Committee voted 8-1 in support of Gatz. Boren …