About a dozen state legislators in New Mexico are fighting a planned construction of a liquified natural gas storage facility in Rio Rancho near Albuquerque. They have asked the New Mexico Public Regulation Commission to reject the move by the New Mexico Gas Company. Hearings begin in December and 14 legislators sent a letter …
Latest on Chesapeake Energy efforts to acquire Southwestern Energy
Chesapeake Energy and Southwestern Energy Co. still in talks to merge? It was reported last month by Bloomberg and this week the news service had more about ongoing reported merger talks. It quoted Kimmeridge Energy Management Co. as indicating such a merger would create one of the oil and gas industry’s ost sought-after stocks. …
Energy quick reads
** A United Nations report warned Monday that the Earth is on track to warm up to 2.9 degrees this century, nearly double the UN’s 1.5 threshold. ** Alaska’s congressional delegation introduces legislation that would reverse the Biden administration’s oil and gas drilling ban on 13 million acres of Alaska’s North Slope. ** U.S. Securities and Exchange Commission (SEC) …
Crude oil made 2% gain in Monday’s trading
Crude oil prices rose more than 2% on Monday while most Oklahoma energy stocks recorded losses for the day. The crude price gains came as new supply cuts in OPEC+ production are expected when the member countries meet early next week. West Texas Intermediate crude finished up $1.71 or 2.3% at $77.60 a barrel on …
Latest dividend announced by Halliburton
The Halliburton Company declared a 2023 fourth quarter dividend of 16 cents a share on Monday. According to the announcement, the dividend will be payable on Dec. 27, 2023 to shareholders of record at the close of business on Dec. 7, 2023. The 16 cents is the same amount of the three previous quarterly …
OPEA sues over oil and gas discrimination act
A legal challenge was filed Monday by the state public employees association to the implementation of Oklahoma’s Energy Discrimination Act of 2022, an act that prohibits financial institutions from discriminating against the oil and gas industry. A lawsuit was filed in Oklahoma County District Court by Don Keenan, a retired state worker and former …
Oklahoma to see increased Holiday travel this week
AAA estimates that more than 480,000 Oklahomans will be among the 55.4 million Americans who will travel 50 miles or more away from home over the long 2023 Thanksgiving holiday weekend, an increase of 1.1% compared to the 2022 Oklahoma Thanksgiving travel volume. 2023 Projected Thanksgiving Holiday Travelers – Oklahoma NUMBER OF TRAVELERS Total …
Sen. Lankford and others want to reduce minerals reliance on Red China
Oklahoma U.S. Sen. James Lankford and two other senators want to do more to enhance the country’s ability to produce minerals used in critical technologies and at the same time thwart the supply chain control wielded by Communist China. Lankford joined Senate Select Committee on Intelligence Chairman Mark Warner (D-VA) and Vice Chairman Marco …
OGE contributes to schools with low-income students
For the 2023-2024 school year, Oklahoma Gas & Electric (OG&E) will donate $30,000 in Positive Teacher Grants to fund teacher projects through DonorsChoose, benefiting schools where most students come from low-income households. Engaging activities and hands-on learning increase students’ academic achievement and understanding of concepts taught in the classroom, but additional funding for teaching …
Next step taken by government to make western Rockies off limits to oil and gas
The Biden administration is moving ahead with the next step in its plans to close the western slope of the Rockies in Colorado to oil and gas exploration. The U.S. Forest Service proposes making 224,704 acres of National Forest Service and Bureau of Land Management lands be “withdrawn from all forms of entry, appropriation …