It’s no surprise that geologists and people who study earthquakes believe the increase in strong quakes of the Permian Basin in Texas and New Mexico are linked to increased drilling. Just as Oklahoma experienced the same growth of earthquakes over the past several years because of a gain of drilling in the state, Texas …
Reports show continued well activity in Oklahoma
Newly-filed reports show Citizen Energy III LLC recently completed a three-well project in Grady County with combined production of more than 1,000 barrels of oil a day. The three wells drilled on a single pad at 6 7N 5W, a site about 2 miles southwest of Blanchard, were completed Oct. 26 of 2022 by the …
TARGA acquires 100% ownership of its Grand Prix pipeline in Oklahoma and Texas
Houston’s Targa Resources Corp. agreed to a more than $1 billion buyout of Blackstone Energy Partners’ 25% interest in Targa’s Grand Prix NGL Pipeline that caries NGLs from Oklahoma, North Texas and the Permian Basin. Targa said the deal totaled $1.05 billion in cash plus customary working capital adjustments, a move that will make …
Cleanup of Permian Basin includes new oilfield waste disposal project
A new oilfield waste facility opened after Christmas in the Permian Basin, allowing operators to dispose of their liquid and solid waste. Milestone Environmental Service opened its Battle Axe facility near Carlsbad reported the Carlsbad Current-Argus. Click here for Current-Argus
Other energy headlines
** The Federal Energy Regulatory Commission denied the proposed $2.6 billion acquisition of American Electric Power Co. Inc.’s Kentucky Power Co. unit by Algonquin Power & Utilities Corp., saying the Ontario-based buyer hasn’t provided sufficient assurances that transmission rates will not climb as a result of the transaction. ** Republicans said they would do away …
Oklahoma energy stocks rebounded Wednesday while crude oil dropped 5%
Another tough day for crude oil prices as they dropped more than 5% or $4 a barrel in Wednesday’s trading largely because of the global economy and rising COVID-19 cases in China. Oklahoma energy prices on the other hand, rebounded from Tuesday’s tough day. One local stock soared 22%. West Texas Intermediate crude for …
Oklahoma regulators to hold first meeting of 2023
The Oklahoma Corporation Commission will meet for the first time in 2023 on Thursday and it will also be one of the last meetings for Commission chairwoman Dana Murphy. Murphy is term-limited after first being elected to the Commission in 2008 for a partial two-year term. She was re-elected to a full six-year term …
Widely read analyst says the EV industry is “a bad idea”
Noted American geopolitical analyst and author Peter Zeihan came out this week with a commentary that blasted the EV industry. Calling it “EV’s Not-so-little Dirty Secret(s)”, Zeihan declared that electric vehicles “are on average a bad idea that will not be with us all that much longer.” In his Wednesday video commentary, he said …
NGL Energy Partners boosts 2023 guidance
NGL Energy Partners LP announced an increase to its Fiscal 2023 Adjusted EBITDA guidance. The Tulsa-based Partnership has increased its Adjusted EBITDA guidance for the current fiscal year from greater than $600 million to greater than $630 million. Of this amount, more than $430 million is expected to be generated from the Partnership’s Water …
Crude oil prices increased in first-half 2022 and declined in second-half 2022
Data source: CME Group, Intercontinental Exchange, and Bloomberg L.P. Note: Retail prices are in nominal terms and are not adjusted for inflation. In the final trading day of 2022, the spot price of Brent crude oil, a global benchmark priced in Northwest Europe, closed at $85 per barrel (b), $7 higher than the price on January 3, …
