A stronger dollar along with signs of profit taking resulted in lower crude oil prices on Tuesday. Oklahoma energy stocks were left mixed. The profit taking was a sign that investors bet on tighter global supplies and demand growth in the second half of this year. West Texas Intermediate closed down 43 cents or 0.5% …
Oklahoma Congressman Frank Lucas is getting a little tired and frustrated with the stonewalling of Commerce Department Inspector General Peggy Gustafson. Together with Democrat Zoe Lofgren, who is the Ranking Member on the House Science, Space and Technology Committee chaired by Lucas, they sent a letter to the Inspector General (IG) of the Department of Commerce …
Another meeting will be held this month as Oklahoma and Arkansas work on updating the watershed-based management plan for the Ilinois River Watershed. It will be the third in a series of public meetings to be held by the Oklahoma Conservation Commission in partnership with the Arkansas Department of Agriculture’s Natural Resources Division. The meeting …
Tulsa’s big coal company, Alliance Resources, reported a 3.5% increase in second quarter revenues, driven primarily by higher coal sales price per ton as well as growing demand for coal to power electric-generating plants during the nation’s heat wave. The company said total revenues for the quarter were $641.8 million compared to $619.9 million …
The drop in oil inventories around the world, including at Oklahoma’s Cushing Hub is getting the attention of industry analysts who believe it is driving increased crude oil prices. “We are on the cusp of supply tighteness,” one analyst told Reuters. Storage at Cushing is part of it as stocks fell by 2.9 million barrels …
ONE Gas, Inc. recorded improved second quarter earnings according to a release this week by the company. Second quarter 2023 net income was $32.7 million, or $0.58 per diluted share, compared with $32.1 million, or $0.59 per diluted share, in the second quarter 2022. Year-to-date 2023 net income was $135.3 million, or $2.42 per …
More of those J.B. Hunt trucks you see rolling across Interstate 40 in Oklahoma might soon be electric rigs. The Arkansas-based company recently ordered 13 of the battery-electric and hydrogen-powered fuel cell trucks from Nikola and deliveries are set to begin this month. Ten of the trucks will be battery-electric rigs which will help …
When Exxon Mobil recently paid nearly $100 million to Oklahoma City’s Galvanic Energy for its brine drilling rights in southern Arkansas, there was good reason why. Exxon Mobil wants to develop lithium from the brine in the Smackover formation—lithium already sought by Galvanic Energy. Now Exxon Mobil is reported to be in talks with …
** The Biden administration started enforcing a nationwide ban on various types of popular light bulbs Tuesday as part of its aggressive energy efficiency agenda. Under the Department of Energy’s (DOE) regulations, manufacturers and retailers will be prohibited from selling incandescent and similar halogen light bulbs which represent a sizable share of current light bulb supplies. ** Senate …
The amount of crude oil produced in Texas soared to a record level in May according to the federal government. The U.S. Energy Information Administration reported Texas production soared to 5.49 million barrels a day, the highest in monthly government information dating back to 1981. Oil production in the state accounts for nearly 40% …