Massachusetts U.S. Sen. Elizabeth Warren, the Democrat who grew up in Oklahoma and was called “Pocahontas” by former President Trump over her false claims of Indian heritage now wants the U.S. Attorney General to sue the fossil fuel industry. She and three other Democratic Senators, all described as affiliated with the progressive and climate-hawk …
Strong 2Q earnings for Ovintiv Inc.
As Ovintiv still reports some success in Oklahoma’s STACK play, the company is running a reduced rig program because of the June close of its $4.275 billion Midland Basin acquisition. It reported a strong Permian Basin Performance in the second quarter and President and CEO Brendan McCracken said the company exceeded all of its …
Xcel Energy to invest $770 million in New Mexico and Texas
Xcel Energy plans to invest nearly $770 million in power-generating operations in Texas and New Mexico and at the same time, extend the life of two older natural gas-fueled units. The company said thee upgrades and additions to its generating fleet in the two states will return $116 million in added tax revenue to …
Harold Hamm—still a ‘wildcatter’ at heart
Tuesday was when Oklahoma oil billionaire Harold Hamm’s book about how he clawed his way from a teenage oilfield worker to head of an Oklahoma City-based oil company was released. Prior to the release of his book, “Game Changer,” the 77-year old Hamm did several interviews and told Bloomberg News, “The future …
Crude oil hits highest mark since April and Oklahoma energy stocks gained too
Crude oil prices hit a three-month high in Monday’s trading, marking their steepest monthly gains since January 2022, largely because of a growing tightening global supply of oil. Oklahoma energy prices also recorded gains with one firm hitting a 6% increase for the day. West Texas Intermediate crude rallied for a $1.22 or 1.5% …
Residential Geothermal Pumps Are Trending Again
The geothermal pump industry is relishing a resurgence as a result of extreme weather conditions and rising utility costs. A major push is now underway to get people to consider ground source heat pumps because they use far less electricity than other heating and cooling methods, according to a recent article by the Associated Press. …
Manchin prepares for another fight with Biden—one over clean hydrogen
Another fight between West Virginia Sen. Joe Manchin and the White House over its green energy push is brewing and it involves clean hydrogen. Hydrogen is a growing topic in Oklahoma and other states where hydrogen hubs are being proposed, thanks to funding from the federal government. At the heart of Manchin’s growing opposition …
Opponents look at railway tunnel to stop oil shipments through Colorado
Opponents of a planned rail shipment of oil from Utah through Colorado and eventually to the Cushing Hub of northern Oklahoma think they have discovered a way to stop the project. It involves the state-owned Moffat Tunnel which is leased by Union Pacific for $12,000 a year. The rail company’s 99-year lease to use …
Regulators to consider possible ratemaking changes
Oklahoma Corporation Commissioners will meet this week to consider exploring alternative ratemaking methodologies for electric public utilities. It is the main item on the agenda for the 1:30 p.m. meeting. As posted, the issue is listed as PUD 2023- 000066, Inquiry of the Oklahoma Corporation Commission to Examine Alternative Ratemaking Methodologies for and Issues …
Earnings reports from Oklahoma energy companies to be released this week
It’s a big week for many of the energy companies as they release their latest earnings reports. Devon Energy, Gulfport and Chesapeake Energy are among some of the Oklahoma oil and gas firms that will release their reports Tuesday. Tulsa-based Williams will report its earnings on Wednesday. Others such as Occidental Petroleum, ConocoPhillips, Phillips 66, EOG Resources, Pioneer Natural …