The number of oil and gas rigs active in the field held mostly steady in the past week in Oklahoma and across the nation, apparently taking a breather as crude oil prices bounced back to $84 a barrel in the U.S. The national count, per reported by Baker Hughes Co. slipped by one to …
ONG’s push to raise gas bills
ONG’s request to raise rates by another $2.49 a month for residential customers goes before Oklahoma Corporation Commissioners this week. Regulators will have to consider the opposition from the utility’s customers. The request by Oklahoma Natural Gas covers a base rate hike of $28,693,017 according to the filing made by the utility in late …
Supply chain crisis not a joke to Oklahoma Representatives
“Further consideration of your massive expansion of social spending—–only stands to worsen the supply chain crisis.” US Transportation Secretary Pete Buttigieg might have shrugged off the nation’s supply chain crisis with a joke about Christmas Eve shopping, but it’s far more serious to Oklahoma Congressman Frank Lucas and other GOP members of the House from …
Well completions companies announce acquisition
Two Texas-based well completion companies, both with operations in Oklahoma are joining operations in a $407.5million deal. ProFrac Holdings, LLC reached agreement in the all-cash deal to take over FTS International, Inc, another firm headquartered in Fort Worth. ProFrac, based near Fort Worth listed operations in Oklahoma but as the picture above illustrates, the …
Back to $84 oil in the US
Crude oil prices rebounded on Friday with a more than 2% gain in the US and European levels reaching nearly $86 a barrel. West Texas Intermediate crude for December delivery went up $1.69 or 2.05% to finish the day’s trading at $84.19 on the New York Mercantile Exchange. Global benchmark Brent crude rose $1.28 or …
Schlumberger’s profits grew with renewed drilling efforts
Schlumberger announced a third-quarter profit of $550 million on Friday, beating Wall Street estimates as the top oilfield firm capitalized on a rebound in crude prices worldwide. On a per-share basis, the The Hague, Netherlands-based company said it had profit of 39 cents. Earnings, adjusted for non-recurring gains, came to 36 cents per share. …
Dividend announced by Holly Energy Partners
Dallas-based Holly Energy Partners, L.P. announced a quarterly dividend. The operator of crude oil terminals in Oklahoma and 7 other states announced a cash distribution of 35 cents per unit for the third quarter of 2021. The distribution will be paid on November 12, 2021 to unitholders of record on November 1, 2021. Holly Energy …
Headlines of other energy stories
** Schlumberger followed its rivals in reporting disappointing third-quarter earnings results this week, as the world’s biggest oilfield contractor failed to grow as fast as analysts expected. ** As Democrats try to salvage what’s left of President Joe Biden’s climate policy, U.S. Sen. Joe Manchin signals that he’ll only sign on to wind and solar credits if …
Minco wind farm included in $824 million acquisition
NextEra Energy Partners LP’s investments in renewable energy took a nearly billion-dollar leap Friday. The Juno Beach-based subsidiary of NextEra Energy revealed a $824 million agreement to acquire 50% ownership in 13 wind and solar energy sites across Kansas, Texas, Nebraska, Tennessee, Georgia, Oklahoma, New Mexico and Connecticut. The site in Oklahoma is Minco …
Natural gas rally behind increased sales of Haynesville assets
With gas futures touching 12 year highs in recent weeks, more companies and land in the Haynesville formation of Northwest Louisiana and East Texas are coming up for sale. Reuters reports private equity firms are looking to make sales in the country’s second-largest natural gas producing formation. Click here for Reuters.
