Even as Oklahoma City’s Mammoth Energy Services continues its battle to get paid $379 million for power repairs made when Hurricane Maria devastated Puerto Rico in 2017, the Biden administration wants to spend $5 billion on upgrading the territory’s troubled electric grid. It’s the very grid that Mammoth crews worked on when they raced …
Devon schedules 2Q financial release for August 1
Devon Energy said it will report second-quarter 2023 financial results on Aug. 1. as executive leadership hopes it might improve on record oil production in the first quarter. The Oklahoma City-based company said the release will come after the close of U.S financial markets on that Tuesday. The earnings release and presentation for the …
Failed multiple well project in Canadian County.
Not only multiple wells drilled on a single pad are a success. A recent three-well single-pad project in Canadian County by Travis Peak Resources LLC of Houston, Texas didn’t produce the results the firm obviously wanted. The three Von Tungeln wells ended up with combined production of about 72 barrels of oil a day. Located …
Fast energy reads
** The Treasury Department is urging states to force insurance companies to better account for climate change and its financial risks as growing disaster damage is costing insurers billions of dollars. ** Massachusetts has launched the largest single call for offshore wind projects in the nation. But the state’s new attorney general isn’t so sure that’s a good idea. ** Georgia …
Soaring heat followed by soaring electricity prices in Oklahoma and Texas
With temperatures of 100 degrees plus throughout Oklahoma and Texas, now comes a big jump in the cost of electricity. The cost to acquire advance power in Texas as of late Monday afternoon hit nearly 50 times its usual price on Sunday reported The Hill. In Oklahoma, OG&E SmartHours price for electricity was 8 …
Another temporary move for Corporation Commission offices
The Oklahoma Corporation Commission made another big step this week in its move out of the Jim Thorpe building which is undergoing millions of dollars in renovation. As of Wednesday, the commission’s Customer Service Counter and the Court Clerks started functioning out of the Will Rogers building in the capitol complex. Their offices are …
Latest wells completed in Oklahoma
They weren’t eye-popping numbers, but two Canadian County wells on a single pad had more than 400 barrels of oil in combined production for Citizen Energy III LLC of Tulsa. The company’s completion report showed both of the Walther wells, drilled at 1 10N 6W, a site about 3 miles southwest of the city of Mustang, …
Now it’s Arkansas’ turn to focus on power outages from storms
Just as major utilities across Oklahoma wrapped up their power restoration following the early June severe weather, Arkansas was left reeling with storms on Sunday that killed two, injured another and left thousands without electrical power. Willie Gilmore, a spokesman with the National Weather Service said 50 to 80 mile an hour winds left …
Crude oil fell 2% in Tuesday’s trading while Oklahoma stocks made gains
Those nagging worries about interest rates and whether they might climb again sent crude oil prices falling 2% in Tuesday’s trading while Oklahoma energy stocks, for the most part, recorded moderate gains. West Texas Intermediate crude, the U.S. benchmark, fell $1.67 or 2.4% per barrel before finishing the day at $67.70 a barrel on …
Train derailments get the attention of a growing number of states
The early February train derailment of toxic chemicals in East Palestine, Ohio prompted several states to take railroad safety issues into their own hands. They are not waiting on the U.S. Transportation Department to crack down on freight railroads. Legislatures in a dozen states took action in recent months and some seek new laws …