Leadership at ONEOK, Inc. plans to reach out to more potential investors at two conferences this month. The company will participate in the Aug. 11 Goldman Sachs Power, Utilities, MLPs and Pipelines conference. ONEOK management will participate in a fireside chat session at 8:45 a.m. Eastern Daylight Time (7:45 a.m. Central Daylight Time) on …
North Dakota fights enviros lawsuit against lease sales on federal lands
The state of North Dakota has won a federal judge’s approval to intervene in a lawsuit by environmental groups who are fighting the government’s resumption of oil and gas lease sales on federal lands. The President’s April announcement of resuming the oil and gas lease sales applied to 23 parcels in eastern Montana and …
Devon’s $1.8 billion acquisition of Denver energy firm means expanded drilling in South Texas
Devon Energy made a giant step in its investments in Texas oil and gas fields with this week’s announced $1.8 billion acquisition of Validus Energy of Denver, Colorado. Validus is an Eagle Ford operator and the deal is expected to close at the end of the third quarter of this year with an effective …
Climate bill targets oil and gas drilling on federal lands
Here’s what the climate-and-tax bill passed by the Senate….the one described as lowering inflation—would do to the oil and gas industry when it comes to drilling on federal land. Bloomberg reported it would force companies to pay more to drill and also ban them from stockpiling leases. Click here for Bloomberg
Dems target oil and gas firms with big tax bill
Democrats in the U.S. Senate are not finished going after America’s oil and gas industry as they introduced a bill this week to double excess-profit taxes on oil companies making more than $1 billion a year. Oregon Sen. Ron Wyden filed the Taxing Big Oil Profits Act to impose a 21% tax on excess …
Garvin County’s newest producers
Oklahoma’s Garvin County is the site of four new wells including three from a single pad with production of more than 1,800 barrels of oil a day. The three wells were drilled by Marathon Oil Company of Houston at 15 3N 4W, a site near the community of Purdy. The largest producer, the Eubank 0304 4-10-3wxh, had …
Other energy headlines
** A tax credit of up to $7,500 could be used to defray the cost of an electric vehicle under the Inflation Reduction Act now moving toward final approval in Congress. But the auto industry is warning that the vast majority of EV purchases won’t qualify for a tax credit that large. ** The landmark climate legislation passed by …
Climate change bill targets oil and gas industry’s methane emissions
Depending on how one views the landmark climate legislation that cleared the U.S. Senate this week, it contains either a loophole or an escape mechanism for oil and gas firms when it comes to being forced to have lower emissions rate for methane. The legislation was aimed against the oil and gas industry, imposing …
Oil and gas group challenges new pollution law in New Mexico
The Independent Petroleum Association of New Mexico has gone to court challenging its state’s regulatory efforts to limit air pollution from the oil and gas industry. The Carlsbad Current-Argus reported an appeal was filed with the New Mexico Court of Appeals and legal arguments could be held within a month. Click here for Carlsbad …
ONEOK Announces $414 Million in Net Income for 2Q 2022
Tulsa-based ONEOK, Inc. announced its second quarter 2022 financial results showing an increase of 21 percent in net income. The company said its net income for the quarter was $414.4 million or 92 cents a share while adjusted EBITDA was $886.0 million, up 11 percent, according to a company press release. “ONEOK’s second quarter earnings …
