Chesapeake Energy has officially completed another step in its departure of the Eagle Ford play in South Texas with the completion of its $1.425 billion sale of holdings to Wildfire Energy I LLC. A filing with the Securities and Exchange Commission indicated the sale was finalized March 20. At the time of the original …
Big new wells reported by Gulfport Midcon and Devon Energy
Oklahoma City’s Gulfport Midcon LLC just filed completion reports on three Grady County wells drilled on a single pad with oil production of more than 1,200 barrels of oil a day along with 28,000 Mcf of natural gas. The three Scr wells were completed in October of last year but the reports were not …
EV Tax Credits to be few and far between under new IRS rules
New rules proposed Friday by the U.S. Treasury Department just put a crimp in those expecting to get a full $7,500 federal tax credit for buying a new electric vehicle. As a result, fewer EVs will be eligible and according to the Associated Press, many will get only half of the $7,500 credit. The …
Advocacy group tries to embarrass Oklahoma Reps. for taking oil and gas campaign money
Advocacy group Public Citizen seems to think it’s wrong for members of Congress to receive campaign contributions from the nation’s oil and gas industry, especially in states where oil and gas is a major economic driver. The group identified 10 House members, who voted for the GOP-sponsored Lower Energy Costs Act, as receiving a …
Crude oil made 2% gain in the US while OK energy stocks recorded moderate increases
Crude oil prices managed a 1% gain in Thursday’s trading while Oklahoma energy stocks made moderate gains for the day. Prices went up as the government revealed U.S. crude stockpiles were lower. An export halt from Iraq’s Kurdistan region also played a role in the price increase. West Texas Intermediate crude rose $1.40 or …
Oklahoma Representatives help House to approve GOP-sponsored energy act
When the U.S. House of Representatives on Thursday approved the measure labeled the Lower Energy Costs Act or H.R. 1, all five Oklahoma Representatives voted to support the bill. Approval came on a bipartisan vote of 225-204. Republicans called the bill their effort to reverse the energy crisis caused by the Administration’s “failed, anti-American …
Not the kind of earthquakes Oklahomans normally experience
When earthquakes rattle Oklahoma, Texas and Kansas, they are sometimes linked to the oil and gas industry and the deep injection of water returned to well below the earth’s surface. The more than 60 earthquakes recorded this week in Wyoming had nothing to do with the oil and gas industry, but the long-proven volcanic …
Red Flag Warning for western Oklahoma
Brace for high winds to hit Oklahoma late this week, especially on Friday and in the western part of the state where there is a Red Flag Warning issued by the State Forestry Service. The arrival of a Pacific front will push dry air across the state coupled with very strong winds and above …
More energy reads
** A freight train derailed in a fiery crash near a small town in Minnesota early Thursday, forcing residents to evacuate as a precaution, officials said. The incident was reported at around 1 a.m. CT. Multiple tankers of a train operated by BNSF Railway derailed and caught fire on the western edge of Raymond, a town in …
Congressman reminds bank regulators of Oklahoma’s infamous Penn Square Bank failure 41 years ago
When a House Committee grilled federal regulators this week on their bailout of California’s Silicon Valley Bank, Oklahoma Congressman Frank Lucas was among those wanting some answers. He also reminded regulators of the infamous collapse of the Oklahoma City Penn Square Bank and the response of the FDIC in the early1980s. He sits on …