A report by the federal government showed the amount of crude oil in storage at Oklahoma’s Cushing hub slipped again this month to slightly more than 27 million barrels of crude. The U.S. Energy Information Administration reported a decline of 2.8 million barrels of oil as of Feb. 4, 2022. Total storage for that …
ConocoPhillips reported to be weighing $1 billion sale of Permian assets
A report by Bloomberg suggests ConocoPhillips is weighing the prospects of selling its more than $1 billion in operations in the Permian Basin. The company is not commenting publicly about the report but Bloomberg claims ConocoPhillips is working with an adviser to run an auction process for the assets. Click here for Bloomberg
Federal judge strikes down Biden climate damage cost estimate
In a lawsuit led by GOP Attorneys General from 11 oil and gas producing states, a Louisiana federal judge blocked the Biden administration’s attempt to put more emphasis on potential damage from greenhouse gas emissions in the creation of rules for polluting industries. Oklahoma was not one of the states involved but the suit …
Ovintiv plans more Kingfisher County drilling
Houston-based Ovintiv knows when it’s found a sweet spot in Oklahoma’s STACK play where the company has recorded big well after big well. It just obtained more drilling permits for Kingfisher County where the firm has scored one success after another—mostly around the city of Kingfisher and close by. Two of the permits were the MUEGGENBORG …
Russian invasion scare results in big jump in oil
As the threat of a Russian invasion of Ukraine became more imminent on Friday, crude oil trading responded in a big way. So did Oklahoma energy stocks. West Texas Intermediate crude for March delivery jumped $3.22 or more than 3.5% to finish Friday’s trading at $93.10 a barrel on the New York Mercantile Exchange. …
Kansas judge okays price gouging lawsuit against BP
Residents of the small southeast Kansas town of Mulberry have been given the go ahead for their price gouging lawsuit against energy giant BP following a $51,000 bill after the February Winter Storm even of 2021. A Crawford County judge has dismissed BP’s motion to dismiss the lawsuit, ruling that the residents have every …
Kansas legislature wants price gouging probe of winter storm
While calls are still being made for the Oklahoma Attorney General to do a price gouging investigation after the 2021 February winter storm, the Kansas legislature is getting serious about it. The State House had near-unanimous support for a resolution endorsing investigations of potential price gouging during the storm reported the Kansas Reflector. Click …
Headlines of other energy stories
** GasBuddy says we haven’t seen anything yet when it comes to rising gasoline prices, which now average $3.47 a gallon in the U.S. It predicts higher prices this summer. ** The Tennessee Valley Authority, the nation’s largest public power company is launching a program to develop and fund new small modular nuclear reactors as part …
Rig growth reported in Oklahoma and the U.S. per Baker Hughes
Rig activity in Oklahoma is growing more according to the latest weekly rig count supplied by Baker Hughes. The company’s report on Friday showed Oklahoma gained 3 rigs in the past week to reach a total of 53. The state’s oil and gas plays also reflected the growth with the Granite Wash remaining at …
House committee Republicans raise concerns about scientific integrity violations by White House science advisor
Led by Oklahoma Republican Rep. Frank Lucas, Republicans on a U.S. House Committee are demanding some answers about growing concerns regarding Dr. Jane Lubchenco, the Deputy Director for Climate and Environment at the White House Office of Science and Technology Policy. What raised the concerns of Lucas, Rep. Stephanie Bice and other GOP members …
