** Exxon Mobil Corp on Thursday rejected a proposal by the United Steelworkers union (USW) to end an eight-month lockout of about 600 workers at the company’s Beaumont, Texas, refinery, the company said. ** The U.S. Nuclear Regulatory Commission (NRC) on Thursday denied a license to Oklo Power LLC to build and operate the company’s Aurora compact …
If the market wants it, EOG is ready to pump more oil
Leadership at EOG Resources Inc. boldly proclaimed it is ready to begin production of more crude oil but only if the market cries for it. The Houston-based firm, one of the biggest U.S. shale oil producers with operations throughout Oklahoma took part in a recent Goldman Sachs virtual energy conference. There, EOG Chief Executive …
Keystone XL lawsuit filed by Oklahoma and others declared moot
The lawsuit filed by Oklahoma and more than 20 other states over President Biden’s move to revoke a permit for the Keystone XL pipeline was declared moot by a Texas federal judge who said the project is already canceled. As The Hill reported, Judge Jeffrey Brown cited a brief from pipeline owner TC Energy …
Texas shutdown of disposal wells over earthquakes could affect Tulsa firm’s operations
Energy consultancy Rystad warns some Texas shale oil and gas producers in the Permian Basin could lose nearly half of their wastewater disposal capacity because of earthquake restrictions taken by the Texas Railroad Commission. Some of the wells in the region where the Commission is shutting down deep injection wells include wells run by …
SEC alleges Ponzi scheme in Permian Basin investments
The U.S. Securities and Exchange Commission this week sued Heartland Group Ventures LLC, its founders and a slew of affiliates who raised $122 million from more than 700 investors in Permian Basin what were to be oil and gas projects in the Permian Basin. Click here for Bloomberg.
Iowa farmers push back on proposed CO2 pipeline
“This isn’t Texas or Oklahoma. This is Iowa and things are different here.” Iowa landowners are voicing their opposition to the plans of a Texas company to build a multi-billion dollar CO2 pipeline connecting to 40 ethanol plants. Click here for Ames Tribune.
Texas regulators praised for moving quickly on oilfield earthquakes
Texas should have learned a lesson from Oklahoma in handling earthquakes that researchers believe were caused by extensive use of saltwater disposal wells. Instead, Texas regulators hesitated and only recently took some firm action in putting certain restrictions on the use of the wells that make up the prolific Permian Basin. It drew the …
US crude oil prices move closer to $80 while OK energy stocks performed well
U.S. crude oil prices rose again in Thursday’s trading, at one point reaching over the $80 a barrel mark before finishing the day at $79.46 a barrel on the New York Mercantile Exchange. It represented an increase of $1.61 or 2.09% for the February delivery of the project. Global benchmark Brent Crude for March …
Former EPA leader Wheeler picked to head Virginia environmental efforts
Andrew Wheeler, the former EPA Administrator who previously spent 15 years as a key staffer for Oklahoma U.S. Sen. Jim Inhofe was picked this week by the Republican Gov.-elect to be Virginia’s next secretary of Natural Resources. But the selection drew immediate critical response following Governor-elect Glenn Youngkin’s decision. One Virginia Representative called Wheeler …
Cushing inventories climb slightly with COVID-19 cases on the increase
The government reported this week the amount of crude oil held at the Cushing hub increased slightly since Christmas Eve, reaching a total of 37.3 million barrels, perhaps due to a growing number of more COVID-19 cases and less demand for gasoline. It represented an increase of 2.6 million barrels since December 24, 2021. …
