Oil producers of the Permian Basin of West Texas are hoping the falling natural gas prices in the region don’t lead to a repeat of what happened a few years ago when they were forced to pay someone to take natural gas off their hands. Those worried producers include several Oklahoma firms that have …
Ovintiv to explore Kingfisher County for more wells
Ovintiv is far from being finished with its oil and gas exploration in Oklahoma’s STACK play. The company received permits to drill this week from state regulators for more wells in Kingfisher County, a county where efforts have paid off handsomely. The Denver-based company has plans for a three-well project on a single pad …
More energy headlines
** South Carolina U.S. Sen. Lindsey Graham pledges to hold a hearing on electric vehicle batteries and sourcing issues if Republicans win control of the U.S. Senate in next month’s midterms. ** The U.S. military said Monday it’s ready to begin draining 1 million gallons (3.79 million liters) of fuel from three pipelines as part of an initial step …
Crude oil trading proved feeble on Monday along with OK energy stocks
Monday’s trading saw crude oil prices slipping less than 50 cents a barrel as China’s demand for crude in September was weak and puny U.S. business activity limited the fall in prices. Oklahoma energy stocks were also hazy as some stocks saw a 7% gain while others dropped 4-5%. West Texas Intermediate crude for …
Gasoline prices continue their fall in Oklahoma
Gasoline prices fell nine cents in the past week in Oklahoma, the same amount that the national average dropped, reaching a national average of $3.79 and an average $3.41 in Oklahoma. Prices have fallen daily since early October, mostly because of lower oil prices and a declining lack of demand by drivers. Oklahoma’s $3.41 …
Wheels are in fast motion for Hamm’s Continental Resources takeover
Soon, Continental Resources will be totally in the hands of billionaire founder Harold Hamm and his family. The Oklahoma City-based oil and gas company that he founded in the late 1960s will be private and no longer traded publicly. On Monday, it was formally announced that Omega Acquisition, the newest company founded by Hamm …
Eastern Colorado residents worry about wind farms
Concern is growing in Eastern Colorado about the maintenance and cleanup of aging wind farms that have proliferated in the past few decades. Some counties are following what others are doing across the country—creating their own rules in the absence of state regulations according to a report by the Colorado Sun. Click here …
New Mexico makes way for more public land wind farms
The state of New Mexico announced the results of two large public land lease sales for construction of wind farms. Pattern Energy won both bids for a total of 15,000 acres offered by the New Mexico State Land Office. The Carlsbad Current-Argus reported one lease was for 2,318 acres in Lincoln County while the …
Other headlines of energy stories
** The Biden administration is ready to sell additional volumes of crude oil from the strategic petroleum reserve after the end of the 180-million-barrel release plan and then it would begin replenishing the SPR once prices fall to $67-$72 per barrel. ** President Joe Biden’s top energy adviser said the oil output cut by Saudi Arabia …
Waiting on funding of hydrogen hubs
Oklahoma, Louisiana and Arkansas await a decision by the federal government to hand out $7 billion from last year’s bipartisan infrastructure law that could fund up to 10 regional clean hydrogen hubs. The three states announced their agreement in March to create a bipartisan three-state partnership to create a regional hub for the development, production and …