Northern Oil and Gas based in Minneapolis, Minnesota says it has acquired Permian Basin assets of Veritas Energy, LLC in far West Texas and Southeast New Mexico. The $408.6 million deal involves non-operated oil and gas properties in the Delaware and Midland Basins including some assets operated by Oklahoma-based Devon Energy. Northern said the …
National regulators urge more natural gas coordination after February storm
Nine months after the historic February winter storm left Oklahoma, Texas and other states frozen in the Midwest, U.S. power regulators issued their final report on the great freeze. Their recommendation? Electric grids should do more to strengthen cold weather rules and coordinate with the natural gas industry so the nation doesn’t experience the …
Biden administration targets Trump rule on railway natural gas
A Trump administration rule that would have allowed railroads to haul liquefied natural gas is targeted by federal regulators who want to suspend it. The Associated Press reports the rule had already been on hold over lawsuits filed by 14 states and environmental groups. Click here for AP story.
US crude oil slips–Brent rises
Tuesday’s trading of crude oil brought a reversal of prices for US and Brent crude. US prices slipped and Brent rose–just the opposite of what happened on Monday. West Texas Intermediate crude for December delivery dropped 12 cents to $80.76 a barrel in trading on the New York Mercantile Exchange. Global benchmark Brent crude …
Sen. Lankford still critical of Biden’s energy plans
Oklahoma U.S. Sen. James Lankford used a Senate Energy Committee hearing Tuesday to criticize the Biden administration’s move to get rid of traditional energy in the U.S. His questions were directed primarily at Stephen Nalley, Acting Administrator for the U.S. Energy Information Administration as well as Tim Gould, Chief Energy Economist at the …
Wednesday energy news headlines
** The company behind last month’s southern California oil spill is facing a U.S. Justice Department probe, seven other investigations, and at least 14 lawsuits; financial filings suggest it may not be able to cover cleanup costs. ** Rivian shares continued to soar Monday, putting the stock more than 85% above its IPO price. It hasn’t even been …
AARP opposes regulatory recommendations for utility rate hikes
The AARP in Oklahoma is objecting to recent recommendations by regulatory judges in support of a $172 million rate hike for Public Service Company of Oklahoma and a move by OG&E to pass along $739 million in winter fuel costs to consumers. The organization says both actions, if eventually approved by Oklahoma Corporation …
EV maker Canoo expands operations in Oklahoma and Arkansas
Electric vehicle manufacturer Canoo, the company that plans to locate a manufacturing plant in Pryor, Oklahoma made a series of announcements this week for expanded services in the region and in northwest Arkansas. It’s also moving headquarters from North Texas to Wal-mart’s backyard. The firm said it will expand its Oklahoma partnership to include …
Mammoth Energy continues with payment demand to FEMA
Mammoth Energy Services made another case this week for the U.S. government and Puerto Rico to pay the firm more than $328 million still owed for electrical restoration work following the 2017 Hurricane Maria. The Oklahoma City company released quotes from a former FEMA official whose statements about FEMA funding supported payments that should …
EIA predicts solar electricity generation to be 20% by 2050
Source: U.S. Energy Information Administration, Monthly Energy Review, Electric Power Annual, Short-Term Energy Outlook, and Annual Energy Outlook The federal government says while only 3% of electricity in 2020 was generated by solar power, it predicts the amount will be up to 20% by 2050. The U.S. Energy Information Administration released its Electric Power Annual report solar power accounted for 3% …
