** President Joe Biden announced sanctions on the construction company for the Nord Stream 2 natural-gas pipeline after Germany put a hold on it following Russia’s aggressions toward Ukraine. The sanctions are on Nord Stream 2 AG and its corporate officers. ** The Biden administration is holding off for now on sanctions against Russia that could disrupt global …
Congressman wants elimination of wind farm subsidies
If Wisconsin Congressman Tom Tiffany had his way, there would be no more subsidies for solar and wind energy projects on America’s farm land. The Republican Representative said he intends to introduce such legislation, banning subsidies for renewable energy projects on farm land that is producing food reported The Leader-Telegram, Eau Claire, Wis. Click here …
States to create hydrogen hub
The states of Colorado, New Mexico, Utah and Wyoming are forming a cooperative to create a hydrogen energy hub. The four intend for it to be built in the region and draw on $8 billion in federal infrastructure funding designed to create such hubs reported The Spectrum. Click here for The Spectrum
Oklahoma gasoline prices have yet to respond to Russian invasion
Gasoline prices have yet to respond dramatically in Oklahoma and the rest of the U.S. to the Russian invasion of Ukraine. The national average of $3.54 as of this week was 4 cents higher than a week ago while motorists in Oklahoma paid an average of $3.21 at the pump according to the American …
US crude prices linger around $93 after Russian invasion of Ukraine
Crude prices settled Thursday afternoon back below $100 a barrel after hitting $105 hours after the Russian invasion and military attack against Ukraine. West Texas Intermediate crude for April delivery rose 71 cents to finish at $92.81 a barrel in trading on the New York Mercantile Exchange. Global benchmark Brent crude for May delivery …
Drilling firms fined over increased seismic activity in New Mexico
More than $2 million in fines have been levied by New Mexico against two companies for violating their permits for wastewater injection wells—violations that were reportedly linked to increased seismic activity in the Permian Basin. Mewbourne Oil Company and XTO Permian Operating were fined by the New Mexico Oil Conservation Division reported The Associated …
Russia’s war against Ukraine will impact Oklahomans
Russia’s invasion of Ukraine might seem to be a world away, but in reality, the violent and deadly attack launched Wednesday night will impact Oklahomans. Oil traded at $105 a barrel in London as of Thursday morning and it will eventually translate into higher prices at the pump—yes even in Oklahoma. Oklahoma drivers will …
Enverus reports rig growth across the U.S.
New figures from Enverus Rig Analytics show not only a national rig count increase but growth in the Anadarko Basin. They also reveal Chesapeake Energy is among the most active operators in Louisiana, home to the Haynesville shale play. The U.S. rig count increased by four in the last week to 737 as of …
Coterra to be cautious about exploration in 2022
While Coterra Energy, the company that came out of the merger between Cabot Oil & gas Corporation and Cimarex Energy Co., reported strong fourth quarter and full-year 2021 financial and operating results, leadership plans to keep a tight rein on exploration projects in 2022. Other energy companies are doing the same even with oil …
Earnings grew in 4Q and all of 2021 for OGE
Oklahoma Gas and Electric, the company at the center of a Supreme Court fight over its securitization efforts to cover Winter Storm Uri costs in 2021 released its fourth quarter 2021 financial results on Thursday. The company said its 2021 earnings were $3.68 per diluted share compared to 87 cents in 2020. Fourth quarter …
