Colorado drilling giant PDC Energy’s leaders say despite the jump in oil prices over the Russian invasion of Ukraine, they don’t plan on a large expansion of exploration. Instead, following the suit of many other energy companies, they intend to focus on ensuring money in the pockets of company investors reported Colorado NewsLine. Click …
New Mexico regulators say AG is wrong
New Mexico’s Public Regulation Commission is standing up to allegations from the state’s Attorney General that it is not pursing the public interest. AG Hector Balderas, who has been at odds with the regulators over recent issues sent a letter to them this week expressing concern whether the state will have adequate power during …
Kingfisher county wells drilled by Hinkle Oil and Gas
Hinkle Oil & Gas Inc. filed completion reports this week on four Kingfisher County wells with total combined production of nearly 1,400 barrels of oil a day. The Oklahoma City-based company reported that all of the wells were single-pad sites but closely aligned in adjacent sections of land. The Lincoln North Unit 44-5ho and the Lincoln …
PSO announces robotics grants to Oklahoma schools and Girl Scout teams
Public Service Company of Oklahoma announced $22,000 in robotics grants to 19 public schools and Girl Scout teams throughout the state. The grants ranged from $400 to $2,000. The FIRST (For Inspiration and Recognition of Science and Technology) robotics grants program is a nationwide initiative that supports pre-kindergarten through grade 12 student education with an emphasis on …
Russian invasion affects Oklahoma economy
Oklahoma State Treasurer Randy McDaniel says even though February gross receipts to the treasury show a continuing expansion of the state’s economy, the Russian invasion of Ukraine raises concerns for him–including inflationary pressure. McDaniel reported that February gross receipts of $1.06 billion are up by almost 12% compared to the same month last year. He …
Mammoth Energy recorded growing 4Q losses
Mammoth Energy Services, Inc. reported growing losses in the fourth quarter and all of 2021. The Oklahoma City-based company stated its fourth quarter 2021 net loss totaled $13.3 million or 28 cents a share compared to $11.9 million or 26 cents a share for the same quarter of 2020. But the fourth quarter loss …
Colorado solar array to cover 1,350 acres
County regulators near Colorado Springs approved new zoning this week on 5,000 acres of land to be the site of a new solar array. The action by El Paso County Commissioners will allow solar company Juwi, based in Boulder to build the array near the community of Fountain reported the Denver Gazette. The array …
US rig count increases but drops in the Anadarko Basin
The active U.S. rig count increased by one in the last week to 740 as of March 2, according to Enverus Rig Analytics. The count is up by nearly 3% over the last month and 61% over the last year. The largest week-over-week increase occurred in Appalachia, which gained two rigs for a total …
Crude prices slip amidst possible deal with Iran but remain at $107 in US
Crude oil futures dropped 2% in Thursday’s trading midst continued heavy fighting between Russian and Ukraine, but prices in the U.S. still remained at nearly $108 a barrel while overseas the global benchmark was at more than $110 a barrel. The drop was largely due to growing word that the U.S. is closer to …
Headlines of other energy stories
** Sen. Todd Young (R-Ind.) thinks there’s a filibuster-proof majority of senators willing to back crushing sanctions on Russia’s energy sector — a step President Biden and his European counterparts have so far refused to take. ** Halliburton Company celebrated the opening of the Halliburton Chemical Reaction Plant – the first of its kind in Saudi Arabia to manufacture …
