** The natural gas industry is challenging the Biden administration over its regulations targeting traditional gas-powered residential furnaces, which a rulemaking energy groups says will impact more than half of all U.S. households. ** Western Caucus Vice Chair Doug Lamborn (CO-05), joined by Chairman Dan Newhouse (WA-04) and Rep. Blake Moore (UT-01), introduced legislation to rescind the …
Coterra Energy gets permission to drill again in Pennsylvania gas field
(AP Photo/Alex Brandon, File) Coterra Energy, the Houston-based company with offices also in Tulsa is set to drill in a Pennsylvania rural area where it was banned for a dozen years because of water pollution. The company, considered onee of Pennsylvania’s leading natural gas companies, had pleaded no contest last year to criminal charges, but …
Crude oil prices gain again following more Houthi attacks in Red Sea
The Houthi attacks on ships in the Red Sea resulted in still another gain in crude oil prices on Tuesday. Oil prices went up more than a dollar a barrel as the attacks disrupted maritime trade and caused more companies to reroute their vessels. West Texas Intermediate, the US benchmark, rose 97 cents or 1.3% …
Panasonic decides a second time against building an EV battery plant in Oklahoma
Oklahoma’s hopes of landing a Panasonic electric vehicle battery plant were dashed a second time by the huge conglomerate. After Panasonic picked a site in eastern Kansas over Oklahoma for a $4 billion EV battery plant, the firm said it would still explore another such plant in Oklahoma. But on Tuesday, Panasonic made it …
4Q earnings release date set by ConocoPhillips
After record third-quarrter production and earnings of $2.8 billion, ConocoPhillips is preparing to release its fourth quarter earnings report in February. Investors will be anxious to know if earnings improved after dropping from a year earlier. The company will release the results before the market opens on Thursday, Feb. 8, 2024. Executives will follow …
Attorney General seeks public tips about winter storm market manipulation
Oklahoma Attorney General Gentner Drummond announced Tuesday he has launched an online tip form where the public can report allegedly illegal conduct related to energy costs during Winter Storm Uri. The tipline, located on the Attorney General’s website (oag.ok.gov), is designed to collect information about market manipulation and any other questionable activity related to artificially …
PSO to pay rate refunds in January
Public Service Company of Oklahoma (PSO) residential customers will see refunds of interim rates on their monthly bills starting in January. The Oklahoma Corporation Commission approved new rates for PSO customers on November 21, resulting in refunds with interest on interim rates that began May 22. PSO will apply refunds to customer bills as …
Legislature sets appropriations hearings
The Oklahoma House of Representatives is preparing to hold hearings on budget requests of state agencies including those focused on environmental and energy issues. The House Appropriation & Budget subcommittees will hold the hearings before the start of the legislative session in February 2024. The various state agencies, boards and commissions that receive state funding …
EIA reports Anadarko basin oil production to slip in January
A new government report indicates oil production in the Anadarko basin, which includes much of Oklahoma, will shrink from December to January. The Energy Information Administration reported production of crude oil in December averages 392,000 barrels a day but in January, it is expected to decline to 389,000 barrels a day. Natural gas production …
New Mexico legislators worry about growing power of oil and gas industry
New Mexico, the state where green-minded leaders castigate the oil and gas industry but love to spend the record revenue it brings, now are reported to worry about how the increased oil production is making the industry more powerful politically. Oil and gas production not only pushed state revenue to a record $12.7 billion …