Executive leadership changes have been announced by ONEOK. The company said Kevin L. Burdick will become Executive Vice President and Chief Commercial Officer as of March 28. In turn, Burdick will be responsible for all ONEOK commercial activities and continue to report to Pierce H. Norton, II, President and CEO. Scott Schingen, Senior Vice …
Oklahoma House approves landmark autonomous vehicles bill
The Oklahoma House of Representatives has passed legislation authorizing the operation of fully autonomous vehicles on public roads. Authored by Rep. Nicole Miller, R-Edmond, House Bill 3317 creates a comprehensive framework for Oklahoma to regulate the use of autonomous vehicles (AVs) to protect the public and infrastructure. “AV technology already exists and it’s already …
Hamm buys another $20 million in his company
More than 3 months after billionaire oilman Harold Hamm bought more than $11 million in shares of Continental Resources, the company he founded in 1967, he’s bought another nearly $20 million in company stocks. A filing with the Securities and Exchange Commission shows Hamm, on March 7 and 8, paid $19,965,342 for 336,844 shares. …
Earnings keep improving for SandRidge Energy
SandRidge Energy’s fourth quarter earnings helped boost the company’s 2021 net cash by $131.3 million compared to 2020 losses, stated the Oklahoma City firm on Wednesday. Net cash for the year reached $139.5 million which represented net cash of $3.80 per share of common stock. Its adjusted EBITDA was $113.5 million in …
Crude prices slide down to $110 a barrel
Crude oil prices across the U.S. and the world dropped 11% in Wednesday’s trading after the United Arab Emirates indicated it would support increasing output amidst Russia’s invasion of Ukraine. West Texas Intermediate crude for April delivery plunged $15 to $108.70 a barrel on the New York Mercantile Exchange. Over the weekend, WTI prices …
Crude supplies slip again at Cushing
Just as the nation’s crude supplies slipped in the past week, so has the amount of crude oil in storage at the Cushing Hub in northern Oklahoma. The latest petroleum report from the U.S. Energy Information Administration showed Cushing’s oil supplies fell from 22.8 million barrels a week ago to 22.2 million barrels this …
Arkansas wind farm scam leads to prison time
Two Arkansas men drew lengthy prison terms after being convicted in federal court in connection with a wind farm scam. The website, Talk, Business & Politics reports the two were sentenced this week by a federal judge. Click here for TBP
Another jump in Oklahoma gasoline prices
“They’re going to go up.” That’s the message from President Biden this week about gasoline prices after he announced a U.S. ban on purchases of crude oil from Russia. He was right. Gasoline prices in Oklahoma shot up 8 cents after he put the ban into affect as the state’s average price for a …
OK House approves bill to help municipalities repair roads impacted by oil and gas industry
The Oklahoma House has passed legislation to create a $5 million annual fund to offset the fiscal impact of roads affected by heavy oil and gas industry traffic. By a vote of 86-0, House Bill 3037, authored by Rep. Brad Boles, R-Marlow was approved on Tuesday. The bill will create the Municipal Road Drilling …
Other energy headlines
** Oil industry executives are meeting with U.S. officials this week as surging energy prices and mounting national security concerns bring together two groups that have had a distant relationship since President Joe Biden’s inauguration. ** U.S. liquefied natural gas (LNG) exporters are emerging as big winners of Europe’s supply crisis as they export record volumes to …
