A measure dedicating $50 million toward modifications and upgrades along the Arkansas River passed the Oklahoma House of Representatives Tuesday. House Bill 2890 appropriates $50 million from the Progressing Rural Economic Prosperity (PREP) Fund to the Oklahoma Department of Environmental Quality (DEQ). The monies would be used for upgrades to the levees along the Arkansas …
Predicted hurricane season to affect oil and gas production and prices
Meteorologists are forecasting a particularly intense Atlantic hurricane season this year; they expect 20–25 named storms with a possibility of 30 or more, according to reports from AccuWeather in April. Colorado State University similarly forecasts an estimated 23 named storms this year. The potential for a stronger hurricane season suggests heightened risk for weather-related production outages in the …
Colorado’s oil and gas industry to come under intense methane scrutiny
Oil and gas operators in Colorado are coming under more scrutiny, thanks to what is described as a first-in-the-nation methane intensity rule. It means air regulators will begin patrolling the oil patches and the skies over them to look for how much methane is coming from the wells, tanks and pipelines. Under the …
Energy Transfer grows stronger with $3.25 billion acquisition in Permian Basin
The growing national natural gas pipeline system of Energy Transfer just became larger as the Dallas company reached a $3.25 billion deal to aquire the processing network of WTG Midstream, LLC in the Permian Basin. The deal came just three years after the company did the same kind of expansion in the acquisition of …
Mach Natural extends dividend payment time
Changes over dividend payments are being made at Mach Natural Resources LP. A recent filing with the Securities and Exchange Commission show the Oklahoma City energy company took steps to make the dividend or quarterly cash distributions to unitholders from 60 days after the end of each quarter to 90 days. As the filing …
More abandoned wells are found every year in Kansas
The nearly 5,300 abandoned oil and gas wells in Kansas are still drawing attention from the state as well as residents who live near the wells. Work on capping the wells has been slow, despite the more than $58 million that went to Kansas three years ago, money that was part of the $4.7 …
Lankford remains critical of taxpayer subsidies for electric vehicles
Oklahoma U.S. Sen. James Lankford touched on a couple of energy issues in a recent newsletter to his supporters, including “Stopping Tax Credit for Expensive Electric Vehicles.” “The Biden Administration loves giving Americans’ hard-earned tax money away to his preferred voters. The latest examples are his tax breaks for luxury electric vehicles and free …
Energy briefs
** As President Joe Biden pushes to accelerate the nation’s transition to clean energy, three Chicago suburbs and more than two dozen other Illinois communities are mulling plans to double down on lung-damaging, climate-changing coal. ** The White House announced steps Tuesday to modernize the country’s aging electric infrastructure.The new initiative between the feds and 21 states …
Mitchell Talks Energy with Jerry Bohnen about energy act ruling and what lawmakers didn’t do
Yes, another surprise move in the growing controversy over a judge’s ruling to suspend Oklahoma’s Energy Discrimination Elimination Act. How much research did lawmakers do when they passed the state’s now-suspended anti-ESG law? This week we discuss how Jerry’s eyebrow-raising report reveals little if any economic analysis went into the consideration of the legislation that is …
Short week ahead for crude oil trading following last Friday’s gain in prices
A short week of trading lies ahead for crude oil prices following the long Memorial Day weekend and after they gained 1% on Friday’s trading. Prices rose for the day but still finished the week down because of continued concerns over high interest rates in the U.S. West Texas Intermediate crude gained 85 cents or …