Customers of Southwestern Electric Power Company in Arkansas are getting a shock as the firm is asking approval for a more than 27% increase in monthly residential charges. The filing with the Arkansas Public Service Commission indicated it wants to increase residential rates for customers who use 857 kilowatt hours to $30.46 per …
Expand Energy’s financial performances keep growing
Oklahoma City’s Expand Energy, considered the largest natural gas producer in the country, announced improved earnings in the second quarter and outperformance of expectations from its merger last fall with Southwestern Energy. Its net income was $968 million or $4.02 per fully diluted share while net cash from operating activities jumped to $1.3 …
Gulfport Energy expands contracts with methane detecting firm
Oklahoma City’s Gulfport Energy announced a move this week to expand its employment of Montana-based Bridger Photonics Inc. for methane detecting scans. Bridger is considered a global leader in emissions detection for the energy industry. Gulfport has a strong demonstrated commitment to emissions reduction, including a top “A” grade rating from the MiQ gas …
Baker Hughes makes $14 billion acquisition of Chart industries
Baker Hughes and Chart Industries announced Tuesday they have entered into a definitive agreement under which Baker Hughes will acquire all outstanding shares of Chart’s common stock for $210 per share in cash, equivalent to a total enterprise value of $13.6 billion. Chart is a global leader in the design, engineering and manufacturing of …
Interior Department targets wind industry
The nation’s wind industry is in the bulls eye of Interior Secretary Doug Burgum, who announced new policy measures this week. Among them, an ending of special treatament for what the Department labeled as “unreliable energy sources” and included wind as one of them. The Department might stop some onshore wind development on some federal …
Energy briefs
** A major Pacific oil reserve offline for a decade was restarted in only five months of work by Interior Secretary Doug Burgum, despite pleas from Sen. Adam Schiff, D-Calif., and completion of a reported laundry list of permitting and reviews. The Interior Department’s Bureau of Safety and Environmental Enforcement (BSEE) announced Friday it has shepherded the reopening of the …
EPA administrator pushes total reversal of Biden’s EV mandates
The Trump administration is getting serious about reversing some of the green energy efforts of the former Biden administration, announcing this week it intends to reverse efforts to limit greenhouse gas emissions from motor vehicles all in the name of fighting climate change. Environmental Protection Agency Administration Lee Zeldin told an audience this …
Trump warns Putin and it sends crude oil prices up nearly 4%
Crude oil prices made another dramatic jump on Tuesday after President Trump doubled-down on his sanctions threat against Russia over its war in Ukraine. Prices shot up more than 3% after the President said he will start imposing tariffs and other measures against Russia “10 days from today” if Moscow did not make …
Biden administration ignored warnings not to locate wind farms next to Interstates and railways
Public claims are being made how the Department of Transportation under then-Secretary Pete Buttigieg ignored safety concerns about approving dozens of windmill projects near the nation’s highways and railroads. Drive across Oklahoma and there are numerous wind farms located adjacent to interstates and highways. Whether the warnings pertained to them is unknown. But it’s …
Energy briefs
** Liquefied natural gas developers led gains for U.S. energy companies in early trading on Monday, after the European Union pledged $750 billion worth in strategic purchases as part of a sweeping trade pact. ** Chevron said it plans to lay off almost 600 Houston workers as part of its monumental acquisition of Hess. Around 575 …
