** Crude oil production in the United States could reach 12.6 million barrels daily next year, which would be a record high on an annual-average basis, the Energy Information Administration said in its latest Short-Term Energy Outlook. ** U.S. Steel Corp. (NYSE: X) is wasting no time in getting its new minimill in Osceola, Arkansas, up and running. …
Oil and gas group starts ad campaign against New Mexico Governor
The New Mexico Oil and Gas Association has launched an expensive ad campaign targeting Gov. Michelle Lujan Grisham and her Clean Future Act–a measure mandating greenhouse gas emissions statewide be net-zero by 2050. The oil and gas group charges in the ads that the Democratic-backed proposal would lead to rampant price inflation and …
Democrats question PR firms on work with fossil fuel companies
Public relations firms are being targeted by two Democrats in the U.S. House about their relationships with fossil fuel companies. Reps. Katie Porter (D-Calif.) and Raúl Grijalva (D-Ariz.) sent a letter Wednesday to six public relations firms, asking for details on their work with energy companies and whether they had aided them in campaigns …
Texas regulators approve more than $3 billion in bonds to cover storm costs
As Oklahoma regulators and the state supreme court wrestle with the requests of utilities for financing orders over their February 2021 storm costs, Texas regulators are doing the same. This week, the Texas Railroad Commission approved a financing order worth $3.4 billion to spread the cost of gas bills over longer periods of time …
Chesapeake Energy execs open NAPE conference in Houston
With a promise he wouldn’t talk about Chesapeake Energy, executive chairman Mike Wichterich was allowed to speak this week during the keynote luncheon of the NAPE Summit Global Business Conference in Houston. What came out of it was Wichterich’s top E&P picks reported Hart Energy. Click here for Hart Energy NAPE Summit Global …
Canada’s Alberta province wants repaid over Keystone XL pipeline
After President Biden used a pen signing an executive order killing the Keystone XL oil pipeline, it left the Canadian province of Alberta holding the bag because of its $1.3 billion investment in the proposed line. Now Alberta wants to be reimbursed and is seeking compensation from the U.S. through a legacy North American …
Hamm’s keeping it in the family
A Continental Resources filing with the Securities Exchange Commission shows founder Harold Hamm is distributing more of his company to his family, but he told Bloomberg he’s keeping full control. “Full control stays with me, so this changes nothing in that regard,” the 76-year old Hamm told the company Wednesday night. “What was done …
Nebraska water groups vote to support South Platte River plan
Water groups in Nebraska voted this week to support a $500 million canal to divert water out of the South Platte River in Colorado. The Associated Press reports the support came from Nebraska’s irrigation and natural resources districts as the state worries about the fast-growing population in Denver will consume of the water from …
Continental’s quarterly dividend up 15%
Oklahoma City-based Continental Resources announced Wednesday the declaration of a quarterly dividend. The dividend amounted to 23 cents per share of the company’s outstanding common stock and will be payable March 4, 2022 to stockholders of record on Feb. 22, 2022. “This dividend represents a $0.03, or 15%, increase to the Company’s $0.20 per share quarterly dividend …
Regulators to consider another $800 million storm bond requests
Oklahoma regulators meet Thursday to consider two more requests of utilities to use a year-old securitization law to assist them in covering nearly $800 million in February 2021 storm costs that will be passed along to ratepayers. Corporation Commissioners, in a 9:30 a.m. meeting will vote on a request by CenterPoint Energy to cover …
