The tightening of crude oil supplies was reflected again at the Cushing hub where there was another drop in crude stocks in the past week, according to the government. Nationally, it was an historic fall of 17 million barrels, the largest such decline in U.S. crude inventories according to records dating back to 1982. …
A fall in natural gas prices resulted in Chesapeake Energy seeing a slide in profits from $1.24 billion or $8.27 a share a year ago to $391 million and $2.73 a share in the second quarter. Gas prices in the U.S. averaged $2.417 per million Btu which were down neary 63% compared to a …
As Oklahoma Attorney General Gentner Drummond considers bids from private law firms to help file possible lawsuits against market manipulators during the 2021 winter storm Uri, the AG in Kansas is confident of winning the suit he filed earlier this year. “I’m very confident we’ll be able to get money back for Kansans,” Kris …
Gulfport Energy Corporation beat analyst expectations with $93.7 million in second quarter net income and $144.5 million of adjusted EBITDA. The Oklahoma City company also raised its full year 2023 net production guidance to 1,035 MMcfe and 1,055 MMVcfe a day, an increase of about 3%. During the quarter, Gulfport completed and turned 13 …
Devon Energy Corp. saw a drop in net earnings in the second quarter as they totaled $690 million or $1.07 per diluted share compared to $995 million, or $1.53 per diluted share, in the first quarter of 2023. At the same time, it also had record oil production. A day after releasing the report, Devon …
Oklahoma U.S. Sens. James Lankford and Markwayne Mullin were among more than 3 dozen Senators this week in calling on the Environmental Protection Agency (EPA) to withdraw its latest set of proposed power plant regulations that will force the closure of coal and gas-fired power plants. They say the EPA does not have the authority to …
Newly filed completion reports show Camino Natural Resources LLC with two wells on a single pad in Grady County producing nearly 900 barrels of oil a day. Camino is headquartered in Denver, Colorado. The two wells, located about a mile east of Chickasha at 36 7N 7W were completed in May and had production …
Years after Oklahoma’s oil and gas industry leaders complained of too many government subsidies for the state’s renewable energy projects, a new nationwide report shows those subsidies more than doubled between 2016 and 2022. They also formed nearly half of all the federal energy-related support, jumping to $15.6 billion in fiscal year 2022 from …
** After seven years of delays and $21 billion in cost overruns, the first of two new units at Georgia Power’s Plant Vogtle enters commercial service and becomes the first new U.S. nuclear reactor to do so in more than 30 years. ** A Wyoming conservation group and a retired federal government biologist have filed a federal lawsuit …
Oklahoma’s congressional members might be muttering “I told you so” after the Biden administration this week again delayed refilling the nation’s emergency oil reserve because of market conditions. Remember, Senators and Representatives from the state were critical of the President when he chose to use the Strategic Petroleum Reserve last year to bring down …