Germany’s Siemens is more than wind farm turbines. It also manufactures electrical infrastructure and the company announced it is investing $150 million in a new high-tech manufacturing plant in Fort Worth, creating at least 700 new jobs for the metroplex. The company stated it is part of a nationwide investment of $500 million and …
Oil industry sees drop in rig activity in Oklahoma and the nation
After a week where the nation’s oil and gas rig count saw an increase, the latest Baker Hughes rig count revealed drops in activity across the U.S. and in Oklahoma. That means more rigs were put into storage. The report released on Friday showed Oklahoma’s count declined one to 36 rigs. A year ago, …
House members vote for tougher sanctions against Iran’s crude oil exports
Some of Oklahoma’s congressional delegation who had called for tougher sanctions on Iran in light of its suspected support and training of Hamas terrorists in their brutal attack on Israel got big support Friday in the U.S. House. House members voted 342-69 in support of the Stop Harboring Iranian Petroleum or SHIP bill. It …
Wyoming legislators propose millions to fight BLM
Wyoming is ready to do battle with the Biden administration over its plan to put hundreds of thousands of acres of land off limits. Or at least, some Wyoming legislators are. Members of a legislative committee approved a draft bill this week to dedicate $50 million to fight the Bureau of Land Management’s Rock Springs …
Vital Energy scored improved earnings and more acquisitions in 3Q
Stronger production, adjusted net income of nearly $96 million and three Permian Basin acquisitions totaling 53,000 acres—it represented the third quarter report from Tulsa’s Vital Energy Inc. The quarterly net income was $4.9 million or 26 cents a share while adjusted net income was $95.8 million and $5.16 a share and cashflows from operating …
Cheaper Summit Utilities natural gas rates in Arkansas
Customers of Summit Utilities, the largest natural gas supplier in Arkansas, will see lower gas bills this winter. The Arkansas Public Service Commission approved the lower rates. Customers will be billed about 80 cents per hundred cubic feet of gas, a rate that is 34% lower than last year, according to Arkansas Business, The …
New Mexico governor went to Australia to prove her desire for hydrogen energy projects
To prove her serious intent on creating a serious hydrogen energy program in New Mexico, Gov. Michelle Lujan Grisham flew to Australia to attend a hydrogen conference. Accompanying her was an oil and gas lobbyist and the head of a natural gas industry group. the trip developed after New Mexico was among the states …
Rep. Boebert attempts to stop feds from restrictions on oil and gas drilling on federal lands
Colorado Congresswoman Lauren Boebert is ready to take on the Biden administration over its proposed federal land oil and gas drilling rules, rules she wants to stop. She’s introduced a bill to prevent the Bureau of Land Management from implementing a rule to raise bonding levels on millions of acres in Colorado and restrict oil …
Improved 3Q earnings reported by American Electric Power
American Electric Power, parent company of Public Service Company of Oklahoma reported third quarter earnings improved over a year earlier. AEP had operating earnings of $924 million or $1.77 a share compared with $831 million and $1.62 a share in the third quarter 2022. The company’s total earnings were $954 million and $1.83 a …
Bill to slash EPA budget supported by Oklahoma Representatives
Oklahoma’s five members of the U.S. House were in support of a Republican move on Friday to slash about 40% of the EPA’s budget. The measure was approved on a 213-203 vote and is aimed at cutting 39% of the budget for the Environmental Protection Agency. It would be the smallest budget the agency …