China’s move to ease pandemic restrictions resulted in a 4% jump in oil prices on Friday and left Oklahoma energy stocks soaring. It came as U.S. gasoline prices also reached a record high and investors expressed concerns that supplies will only tighten if the European Union goes ahead and bans Russian oil. West Texas …
Inhofe presses White House on forever chemical foot-dragging
As he pressed the Biden administration for a timetable on the cleanup of “forever” chemicals used on military bases in the U.S., Oklahoma U.S. Sen. Jim Inhofe didn’t get the answers he sought in a recent Senate committee hearing. It was during a hearing by the Environment and Public Works Committee of which Inhofe …
Exceptional drought persists in western Oklahoma
Some parts of Oklahoma remain in a drought and the latest report from the U.S. Department of Agriculture shows only a slight improvement in western Oklahoma–the driest area of the state. The latest U.S. Drought Monitor showed more than 10% of the far southwest and the Panhandle were in an “exceptional” drought, the worst …
Oklahoma receives $2 million EPA grant for site cleanups
Oklahoma has received a $2 million grant from the Environmental Protection Agency, one of 265 Brownfield grants out of a total of $254.5 million to help clean up polluted areas of the country. The Oklahoma grant was made to the Oklahoma Corporation Commission where spokesman Matt Skinner called it a “very large grant” that …
OK Gov signs bill targeting anti-fossil fuel financial firms
Oklahoma Gov. Kevin Stitt makes it law—the state will no longer do business with financial firms that discriminate against oil and gas companies. After legislative approval, House Bill 2034 was sent to the governor who signed the measure last week. Officially known as the “Energy Discrimination Elimination Act,” the new law will require the …
New wells reported in Oklahoma
Some of the latest completion reports filed for new wells in Oklahoma include four Continental Resources wells on a single pad in Grady County. The wells, located at 29 6N 6W, a site a few miles southeast of the city of Chickasha had a combined production of more than 900 barrels of oil a day. Not …
Oklahoma sees gain in rig count
The number of oil and gas rigs active in the U.S. field increased by 9 over the past week to reach a total of 714 while Oklahoma also saw a gain of rigs. Baker Hughes reported on Friday that the statewide count grew by 4 for a total of 57 oil and gas rigs …
Colorado utility close to winning approval for $509 million 2021 storm cost recovery
One more step and Xcel Energy in Colorado will be able to raise rates on ratepayers to pay for more than one-half billion dollars in high natural gas costs experienced in the February 2021 storm Uri. An administrative law judge is recommending Colorado regulators approve Xcel Energy’s move to recover $509 million and pass …
Cypress Environmental seeks Chapter 11 bankruptcy protection
Cypress Environmental Partners, L.P. announced Friday that it filed for Chapter 11 bankruptcy protection and reached a restructuring support agreement with its priority senior secured lender. The move with affiliate of Argonaut Private Equity is expected to clear nearly $58 million of debt by Cypress. The petition was filed in the U.S. Bankruptcy …
US crude prices made slight gain on Thursday
Crude oil prices made more slight gains in Thursday’s trading in the U.S. but dropped in Europe as supply issues remain a concern. West Texas Intermediate crude for June delivery went up 42 cents to settle at $106.13 a barrel on the New York Mercantile Exchange. Global benchmark Brent crude for July delivery slipped …
