The sound of one giant sigh of relief can be hard across Oklahoma…thanks to a cool front that arrived Tuesday evening bringing with it a chance of rain and perhaps a temporary end to the sweltering heat with temperatures higher than 100 degrees. But Gary McManus, State Climatologist with the Oklahoma Mesonet says the …
Crude oil prices drop to 6-month low and OK Energy stocks were weak
Crude oil prices on Tuesday hit their lowest level since before Vladimir Putin decided to send his troops into Ukraine, starting a war that continues claiming lives every day. US prices dropped even lower after settling Monday below $90. What prompted the nearly 3% drop in prices? Analysts blamed new economic data about a potential …
Energy Transfer wraps up sale with joint venture
Energy Transfer LP announced Monday the completion of the sale of its 51 percent interest in Energy Transfer Canada ULC (Energy Transfer Canada) to a joint venture which includes Pembina Pipeline Corporation and global infrastructure funds managed by KKR. The company stated the sale of the assets allows Energy Transfer to further deleverage its …
Permian crude oil production to hit record high in September
The Permian Basin in Texas and New Mexico, site of major drilling efforts by numerous Oklahoma oil and gas operations is expected to see oil output rise 79,000 barrels a day, reaching a record 5.408 million barrels a day in September. The prediction was revealed this week in the productivity report by the U.S. …
New leader of ERCOT named in Texas
More than a year after the Texas grid leaders were bashed for their near catastrophic failure during February 2021 Winter Storm Uri, ERCOT got a new leader this week. The Electric Reliability Council of Texas Board of Directors announced the selection of Pablo Vegas to serve as the president and CEO for the Texas …
Empire Petroleum tripled revenue in 2Q
How good was the second quarter for Empire Petroleum? The company announced its quarterly revenue report this week showing revenue from oil, natural gas and natural gas liquids sales was $16.5 million, triple the $4.9 million revenue reported in the 2021 second quarter. The Tulsa-based company reported net income was $5.5 million compared to a …
Legislator proposes drought aid to Oklahoma farmers and ranchers
Rep. Justin Humphrey, R-Lane, said he is considering proposing legislation that could be brought forward in the House’s current special session to assist Oklahoma farmers and ranchers in the current drought. “Previously, in times of serious drought, Oklahoma’s government has stepped in and assisted ranchers with shipping hay,” Humphrey said. “During Oklahoma’s last serious …
From around the U.S. and the world—other energy headlines
** Although the Inflation Reduction Act (IRA), which passed the House of Representatives on Friday, will be by far the largest federal action ever taken to confront climate change, it will fall short of the U.S.’s pledge in the 2015 Paris climate agreement to cut greenhouse gas emissions by 50-52% from 2005 levels by 2030. ** Al Gore’s …
Governor names longtime government energy leader to be Oklahoma Energy Secretary
Governor Kevin Stitt announced the appointment of Ken McQueen to serve as Oklahoma’s Secretary of Energy and Environment following the resignation of Ken Wagner effective September 3, 2022. “Ken McQueen’s forty years of experience in energy and environmental policies make him an invaluable asset to our administration,” said Governor Stitt. “I am excited to work with …
Act targets stock buybacks employed by numerous Oklahoma energy firms
By Jerry Bohnen I first heard of the tax on stock buybacks as I drove down old Highway 36 in northern Colorado. I had just passed one of those “F— Biden” flags attached to farm machinery parked in a remote and dry farm field next to the highway. You know the kind. The only …
