A New Mexico Republican congresswoman who defended the state’s oil and gas industry and was critical of President Biden’s attacks on the industry lost her re-election bid this week. U.S. Rep. Yvette Herrell, a Cherokee and one of four Native Americans serving in Congress lost to Democrat Gabe Vasquez in the state’s 2nd Congressional …
Headlines of other energy stories
** EPA recommends approving Enterprise-Enbridge offshore crude export terminal near Houston. ** U.S. climate envoy John Kerry announced the creation of a carbon offset plan meant to help developing countries speed their transition away from fossil fuels. Kerry launched the Energy Transition Accelerator (ETA) with the intention of funding renewable energy projects and accelerating clean energy transitions …
NGL Energy Partners quarterly results—from a loss to net income in a year
NGL Energy Partners LP turned around its financial situation in the second quarter of its 2023 fiscal year, moving from a $1.2 million net loss in the second quarter of the 2022 fiscal year to net income of $3.6 million. The Tulsa company also saw a large improvement in finances for the first six …
Phillips 66 to increase shareholder values
Phillips 66 leaders indicated this week it is their intention to provide a plan to deliver higher shareholder distributions and increase shareholder value. The pledge from Mark Lashier, President and CEO of Phillips 66 came during an investor day meeting in New York City. “We are announcing a number of priorities designed to reward …
Strong 3Q earnings report issued by Ascent Resources Utica Holdings
The third quarter for Oklahoma City-based Ascent Resources Utica Holdings, LLC was so strong that Chairman and CEO Jeff Fisher said he expects the company to finish 2022 on a “strong note.” Ascent, a company with more than 700 wells in the Utica play, reported net income of $47 million, Adjusted Net Income of $307 million and Adjusted …
Wyoming sees increase in oil and gas drilling activity
A new state report shows the oil and gas drilling activity in Wyoming has recovered to pre-pandemic levels. Wyoming is a state with drilling projects from Oklahoma City based companies Continental Resources Inc. and Devon Energy. The Wyoming Economic Analysis Division released its October 2022 “Wyoming Insight” report showing the state has an average …
Alternative school bus funding announced by Oklahoma DEQ
Nearly $2 million in funding from the Oklahoma Department of Environmental Quality is available for school bus environmental improvements. The DEQ announced two funding programs designed to reduce vehicle emissions in the state and they total $1.8 million. Applications from school districts will be accepted until Jan. 13, 2023. The Alternative Fuel School Bus program, …
New Mexico to study air pollution around Carlsbad
With the help of a grant from the EPA, New Mexico plans to study air pollution in the Carlsbad area. Environmental leaders contend the air pollution in the southeast corner of the state worsened as a result of expanded oil and gas production in the state’s part of the Permian Basin reported the Carlsbad …
OK energy stocks suffered as crude prices tumbled Wednesday
An increase in U.S. crude stockpiles was blamed for a 3% or nearly $3 a barrel drop in prices on Wednesday. It also sparked huge losses for Oklahoma energy stocks with some tumbling as much as 12%. Stockpiles increased more than expected and combined with a reported rebound of COVID-19 cases in importer China, …
Corporation Commissioners to decide on OGE bill increase
OGE’s request for increased fuel cost adjustment charges faces yet another hearing Thursday as the utility wages an uphill battle with consumer groups. The utility seeks the increase because of a summer collections shortfall totaling $424 million. If approved by Corporation Commissioners, it would result in f a 7.4% or nearly $9.73 increase for …