A new report suggests the Bakken formation in North Dakota, a favorite of Oklahoma-based Continental Resources, has reached maturity and increased oil production is not likely. The Dickinson Press reported it’s the finding of the 2021 North Dakota Energy report by EnergyND, Great Plains Energy Corridor and Bismarck State College’s North Dakota Polytechnic Institution. …
200-well drilling project by Occidental in Colorado
Occidental Petroleum has unveiled plans for an aggressive drilling project in northern Colorado where it intends to drill more than 200 wells on a single Weld County ranch. As the largest oil producer in Colorado, the Houston-based company revealed plans to gather oil and gas from a 39-square mile area of Weld County reported …
Strong start for Oklahoma energy stocks while crude oil prices barely changed
The world’s events had little change on U.S. crude oil price in Monday’s trading while Brent crude settled above prices in the U.S. But Oklahoma energy stocks started the week out in a strong fashion. Apparent worries over a possible recession in the states were among one of the issues at hand along with the …
Increased Memorial Day traffic predicted by AAA
AAA is projecting that more than 594,000 Oklahomans will travel a distance of 50 miles or more over the Memorial Day weekend. As usual, the large majority will be driving to their destinations. However, air travel and other modes of travel transportation (trains, cruises and buses) are up significantly compared to last year. AAA’s forecast …
Lawmaker accuses ABQ gas station of price gouging
While Democrats in Congress are taking their gasoline price-gouging accusations against the oil and gas industry to include a proposed bill, a New Mexico legislator reached a new level. He accused an Albuquerque gas station of price gouging with its nearly $7 a gallon price according to the Albuquerque Journal. Click here for Albuquerque …
Annual shareholders meeting of OGE Energy Corp.
Shareholders of OGE Energy Corp. held their annual meeting last week, electing 9 members to the board of directors and approving the company’s 2022 Stock Incentive Plan. The Stock Incentive Plan permits a committee of the Board to grant incentive awards in the form of non-qualified stock options, incentive stock options, restricted stock, …
OGE to hold storm-cost mitigation meeting
In keeping with a Corporation Commission order to recover nearly $750 million in costs from the February 2021 winter storm, Oklahoma Gas and Electric plans a stakeholder meeting this week before the Commission. As part of the Joint Stipulation and Settlement Agreement which won approval from the state regulators in December 2021, it was …
Blizzard’s after effects in North Dakota still being felt
The April blizzard that slammed western North Dakota and oil and gas production companies in the Bakken, one of them being Continental Resources of Oklahoma, is still getting a lot of attention. When Continental President and CEO Bill Berry and the company’s Chief Operating Officer Doug Lawler discussed it at the firm’s most recent …
Other energy headlines
** President Biden announces Hyundai will spend $5.5 billion to build its first electric vehicle manufacturing plant in the U.S. near Savannah, Georgia. ** The U.S. Energy Department seeks an unprecedented expansion of high-voltage electricity lines to carry clean power by prioritizing shovel-ready projects and seeking state support for interregional connections. ** A Spanish energy company begins construction of a 300 MW …
4Q earnings report to be released by NGL Energy Partners
NGL Energy Partners LP in Tulsa plans to issue its fiscal fourth quarter and year-end report in two weeks. The company will release the earnings report on Monday, June 6 following the close of market. An earnings call will be held at 4 p.m. on the same day where the company’s management team will …
