Electric vehicle startup Canoo has picked a site in Pryor to be the location for its electric vehicle plant that will employ nearly 2,000 workers. Newly appointed CEO Tony Aquila announced the selection during the company’s investor day presentation, a day set aside after Canoo became a publicly traded company through a merger with …
Harold Hamm’s $10 million purchase of company shares
Billionaire Harold Hamm might be wondering why he did what he just did this week in the nearly $10 million purchase of shares in Continental Resources, the company he founded and is still chairman. He bought 270,000 shares of Continental as prices were at their highest level since 2019. They represented his first purchase …
Heat wave pushed Texas close to electrical blackouts
Texas narrowly avoided another major electric power disaster in the past several days as the state baked under a lingering heat wave and its power grid begged consumers to conserve their electricity use. Bloomberg reports four huge power-plant upsets had the state at the brink of more blackouts. Click here for Bloomberg story.
Enverus reports dip in nation’s rig count
The U.S. rig count fell by 12 in the last week to 522 as of June 16, according to Enverus Rig Analytics. But the count also shows Oklahoma City’s Ascent Resources and Chesapeake Energy continue to be active in Appalachia. The count is down 3% on the month but up 86% on the year. …
Evergy says it’s ready for any heat wave in Kansas
Evergy, the largest utility in Kansas says it’s ready for any extended heat wave that is hitting the state. The company says crews are working around the block to ensure a steady stream of electrical power is available to keep air conditioners running reported WIBW TV. Click here to read WIBW report.
Colorado’s plan to pay for plugging abandoned oil and gas wells
The state of Colorado does not want to pay the bill for abandoned oil and gas wells and plans to avoid picking up the tab by forcing operators to guarantee the clean up of every well should they be abandoned. It could means a cost of billions of dollars under draft regulations drawn up …
Energy news in brief
** Federal regulators blame an offshore drilling company for trying to ride out a hurricane last year, risking workers’ safety and resulting in nearly $6 million in damage to equipment. ** Companies drilling wells for oil and natural gas exploration in Florida’s Apalachicola River basin come up short for the second time in three years. ** In 2020, consumption of …
Denton power plant made money off heat wave
After unsuccessfully filing suit against ERCOT, the Texas state grid operator because of exorbitant prices in the February winter storm, the city of Denton made up for some of it with a 1,000% rise in revenue made off its sale of electricity back to the grid operator. The Denton Record-Chronicle reports the city-owned Denton …
Crude oil prices took a hit in Thursday’s trading
Crude oil prices dropped in Thursday’s trading but remained above $71 a barrel in the U.S. and $73 in Europe. Oklahoma energy prices suffered as well. West Texas Intermediate crude for July delivery dropped $1.11 to $71.04 a barrel in trading on the New York Mercantile Exchange. Global benchmark Brent crude for August delivery …
DEQ announces over $850,000 in school bus replacement awards
The Oklahoma Department of Environmental Quality announced the distribution of more than $850,000 in Volkswagen Settlement funds to replace 31 diesel school buses. The funding is part of the FY20 Oklahoma Clean Diesel and Alternative Fuel School Bus grant programs. Volkswagen Settlement Recipients FY 2020 Alternative Fuel School Bus (AFSB) ProgramFY 2019 AFSBFY 2018 AFSBChargeOK …
