Battle lines are drawn in New Mexico where Democratic legislators want to be more like California in clamping down on fossil fuels and seeking climate change goals. The latest conflict? A bill aimed at reducing climate-warming pollution from cars and trucks. The New Mexico Senate passed it on a 26-15 vote this week with …
Another tire maker follows Michelin’s decision in Oklahoma
Four months after Michelin North America announced it planned to close its tire plant in Ardmore, Oklahoma, another tire company has announced similar plans and for the same reason—changes in tire demand as a result of the electric vehicle industry and the cost of meeting those demands. Michelin issued a statement in November …
Gulfport Energy to release 4Q earnings report later in the month
After making progress in the third quarter, Gulfport Energy Corporation prepares to release its fourth quarter and full-year 2023 financial reports later in the month. The release will be made on Tuesday, Feb. 27 after the close of markets. The next day, Feb. 28, Gulfport management will hold a conference call at 8 a.m. …
Helmerich and Payne finalizes big Saudi Arabia rig deal
Helmerich & Payne in Tulsa reached a deal this week to provide 7 new rigs to Saudi Aramco. Terms of the contract were finalized as the seven super-spec rigs were awarded 5-year contracts with 1-year options. The rigs are expected to be put into immediate use once they are delivered and that should be …
Apache Corporation to pay $4 million fine for clean air violations in the Permian
Houston’s Apache Corporation agreed recently to pay a $4 million fine for clean air violations of its more than 400 oil and gas wells in the Permian Basin. It led New Mexico officials to call for even more scrutiny of oil and gas operations. The agreement settles legal action taken against the company …
Opposition comes out against bill to make Kansas Corporation Commission exempt from Open Meetings Act
A fight is brewing in the Kansas legislature over a bill aimed at exempting the Kansas Corporation Commission from the state’s Open Meeting Act. Skepticism has been raised by the Kansas Electric Cooperaties and its 29 non-for-profit cooperatives. Under the bill filed by a Wichita Representative, corporation commissioners would be able to “sidestep” the …
SEC filings show how much investment firms hold in Oklahoma energy companies
Several more energy firms located in Oklahoma, either with headquarters or through oil and gas operations filed SEC reports this week revealing ownership by investment groups. Mammoth Energy, based in Oklahoma filed a report showing 2,368,145 shares or 4.94% were owned by ValueWorks Limited Partners LP of New York City. The Vanguard Group has heavy …
Crude oil made gains while Oklahoma energy stocks tumbled
A few things resulted in gains on Tuesday in crude oil prices—the Middle East conflict, the war in Ukraine and the U.S. Fed is waiting longer to cut rates as inflation stays elevated. But Oklahoma energy stocks went the opposite direction—down. As a result, West Texas Intermediate crude rose 95 cents or 1.24% and …
Fighting foreign ownership, Kansas AG runs into fight with farm groups
Kansas Attorney General Kris Kobach wants to bar foreign nationals from owning 10 acres or more of land in his state, but he’s run into some power opponents…namely the Kansas Farm Bureau, Livestock Association, Agribusiness Retailers Association, Corn Growing Association and Soybean Association. Kobach came up with Senate Bill 446 over concerns about foreign …
Special Thursday meeting of Corporation Commission
Oklahoma Corporation Commissioners will hold a special meeting Thursday at 10 a.m. to handle more rulemaking for some of its divisions. But it will also consider an unopposed settlement agreement posed by the Attorney General’s Office regarding a request by Arkansas Oklahoma Gas or AOG. AOG has proposed a $690,000 plan to retain its customers …