Ovintiv, the company with a history of large producing oil wells in Oklahoma’s STACK play announced the $4.2 billion acquisition of more holdings in the Midland Basin of Texas, while at the same time selling its Bakken assets in North Dakota in an $825 million agreement to help finance the Midland deal. The Denver, …
Empire Petroleum reports improved performance in 2022
An “outstanding year across the board,” is how Empire Petroleum’s President and CEO Mike Morrisett described 2022 for the Tulsa-based company as he released fourth quarter and full year financial results. The company announced that higher net sales volumes and pricing drove a 95% increase in revenue to $52.9 million for full-year 2022 that …
Senators fight Biden administration’s expanded use of Endangered Species Act
Oklahoma U.S. Sen. James Lankford and Sen. Cynthia Lummis (R-WY) have launched an effort to redefine the choice of wording in the Endangered Species Act as they try to combat what they contend are irrational efforts of the Biden administration. The two Senators led 17 others in introduction of a Congressional Review Act resolution …
Sen. Mullin accuses Bernie Sanders of hypocrisy—to his face
Okay. This latest Sen. Markwayne Mullin story has nothing to do with energy. But it’s worth reading as the Republican Oklahoma Senator launched into an attack recently against colleague, Sen. Bernie Sanders, suggesting Sanders is hypocritical for his criticism of a millionaire CEO. Mullin unloaded on Sanders during a Senate debate on the floor, …
Coming soon—a ban on incandescent light bulbs
What’s next in the Biden administration’s climate change battle? How about the lightbulbs you use in your home. The administration’s taking aim at incandescent light bulbs and under rules finalized by the Department of Energy, they will be prohibited from being sold by retailers. Get ready for the ban to take effect on Aug. …
Oklahoma utilities recover from wind storm damage
Power has been restored to most OG&E and PSO customers following Friday’s wind storm that brought 75 mile an hour gusts, outages, dozens of snapped power line poles and the wind-driven wildfires that destroyed dozens of homes and structures near Edmond. At one point on Friday, OG&E reported more than 16,000 customers lost power …
Other energy headlines
** The Justice Department on Friday announced a lawsuit against Norfolk Southern Railway in connection with the Feb. 3 derailment of a train carrying hazardous materials in East Palestine, Ohio. ** The Biden administration on Friday proposed new rules about when electric vehicles can be eligible for a consumer tax credit — though its disagreements …
Crude oil and OK energy stocks recorded gains in Friday’s trading
The tightening of oil supplies around the world sent crude oil prices upward by more than a dollar a barrel on Friday and Oklahoma energy stocks also recorded gains for another day. The price gains were also boosted by U.S. inflation data that indicated price rises were slowing. West Texas Intermediate for delivery in …
PSO workers sent for storm relief work in Kentucky and Virginia
Nearly 160 Public Service Company workers departed Tulsa on Friday to offer storm relief efforts in Virginia and Kentucky where severe weather was expected over the weekend. The group included 60 PSO employees and 100 business partners. It involved at least 35 trucks. They were expected to arrive Saturday night to help deal …
Oil and gas rig numbers decline in Oklahoma and U.S.
The number of active oil and gas rigs across Oklahoma and the U.S. dropped in the past week according to an announcement by Baker Hughes Co. Oklahoma’s rig count was 59 in the past week, a decline of two from the previous week. A year ago, there were 49 active rigs in the state. …