The winter storm that hit Oklahoma and the rest of the Midwest in December will result in an anticipated 2% drop in fourth-quarter production for Devon Energy. The company released a statement this week indicating it expects the quarterly production to drop about 15,000 oil equivalent barrels a day because of the impact the …
Turnpike fight leads to another lawsuit
The Oklahoma Turnpike Authority faces yet another lawsuit over its controversial plans for a turnpike extension through parts of the city of Norman. A lawsuit was filed Monday and in it, attorney Stan Ward alleges the authority violated a court order that stated $60 million in contracts were invalid because the authority violated the …
Rep. Bice—why did Biden deliver US oil to China?
Oklahoma congresswoman Stephanie Bice isn’t giving up on trying to stop the White House from selling oil from the Strategic Petroleum Reserve to countries that are considered enemies of the U.S. Furthermore, she wants to know why President Biden delivered some of it to China. This week, the Republican Representative reintroduced her Save America’s …
Remaining emergency drought funds to be spent in Oklahoma
The Oklahoma Farm Report, our sister website reported this week the Emergency Drought Commission in Oklahoma issued a directive regarding $5 million in unspent and unused funding. The Commission issued the order to direct all remaining funding to the Oklahoma Conservation Commission so it can distribute the funds through the existing Emergency Drought Cost-Share …
EPA and TC Energy ink deal for cleanup of Keystone Pipeline spill
A legally binding deal has been signed by the Environmental Protection Agency and the owner of the Keystone pipeline to clean up the 14,000 barrel crude oil spill that happened last month near Washington, Kansas. EPA and TC Energy Corp. signed a consent order that lays out the steps the company must take to …
Utility CEOs rolling in the dough while consumers are met with higher rates
A new report by Energy and Policy Institute revealed how CEOs of investor-owned electric and gas utilities, and that includes those in Oklahoma, were paid $2.7 billion between 2017 and 2021. The Institute reviewed corporate data and discovered the CEOs for the 58 companies received more than $629 million in 2021 which was a …
Energy headlines
** The ozone layer — the atmospheric shield that prevents harmful ultraviolet light from reaching the Earth’s surface — is on track to recover, United Nations (U.N.) scientists said on Monday. The U.N. said the ozone layer has shown recovery and will return to its 1980 levels over the next several decades. ** The Congressional Western …
Cost of Keystone pipeline leak cleanup still up in the air
Keystone pipeline operator TC Energy says it still doesn’t have a cost of the cleanup of the 14,000-barrel oil spill in northern Kansas. It’s what the company said this week, adding that it also doesn’t have a cause of the leak that happened in early December near Washington, Kansas. Click here for Reuters
ONEOK reaches $930 million insurance settlement over Medford gas plant fire
ONEOK says it reached an agreement covering $930 million in insurance payments over the fire that put its gas plant out of operation last July near Medford in northern Oklahoma. The company also revealed plans to build a 125,000-barrel per day (bpd) NGL fractionator at its Mont Belvieu, Texas, facility. Upon completion, the new fractionator, …
Gains recorded Monday by Oklahoma energy stocks and crude oil
Oil prices rose 1% in Monday’s trading and Oklahoma energy stocks saw gains as well. As world stocks rallied to their highest levels since mid-December, China reopened its borders giving rise to optimism in the future fuel demand around the world. West Texas Intermediate crude rose 86 cents or 1.2% and settled at $74.63 …