The Federal Trade Commission has cleared the way for Exxon Mobil’s $60 billion dollar purchase of Pioneer Natural Resources as soon as Friday. There are conditions – and one is that former Pioneer CEO Scott Sheffield won’t be named to Exxon’s board of directors. Sheffield has been accused of colluding with OPEC to drive …
A slight drop in crude oil prices on Thursday sent them to nearly their lowest level in seven weeks following a bigger fall on Wednesday. It came after weaker global demand for crude oil, increasing crude stocks plus dashed hopes for a cut in US interest rates. West Texas Intermediate crude, considered the US benchmark …
Oklahoma’s congressional delegation was among Republicans in the U.S. House who stood up to fight the White House and its recent moves to restrict oil and gas exploration in Alaska’s National Petroleum Reserve and the Arctic National Wildlife Refuge. The House voted in support of H.R. 6285, Alaska’s Right to Produce Act. The final …
While Oklahoma City and Electric pushes forward with a rate hike request that could boost customers residential bills by another $19 a month, the utility announced this week the lowering of fuel charges will result in a drop of $25 a month for the same customers. It comes as the utility is lowering the …
Mammoth Energy Services leadership admits its first quarter 2024 fiscal year results are likely to be the “low water mark” for the year. Again, the sinking natural gas market gets much of the blame. Dismal results were reported including total revenue of $43.2 million compared to $116.3 million for the same quarter of 2023 …
The cash keeps rolling in for Devon Energy, thanks to increased oil production and leaders aren’t backing off their efforts to grow production for the remainder of the year. Devon Energy Corp. repeated its record $1.7 billion cash flow from operating ativities in the first quarter of the year as it reported financial and …
** Authorities have recovered the body of a fifth victim in the Baltimore bridge collapse five weeks ago, officials said Wednesday. The victim has been identified as Miguel Angel Luna Gonzalez, of Glen Burnie, Maryland, according to the Unified Command, a joint task force composed of police, coast guard and other government agencies to respond to the …
In a Texas courtroom, a case is being layed out to verify allegations that a natural gas pipeline company waged market manipulation during the 2021 Winter Storm Uri—the same kind of claims that Oklahoma Attorney General Gentner Drummond made in recent lawsuits against two companies. The case in Texas involves CPS Energy, the nation’s …
Not only did a surprise increase in US crude stocks send crude oil prices tumbling on Wednesday, it was more of a surge in stocks. The U.S. Energy Information Admininstration reported stocks rose by more than 7 million barrels while the Cushing oil hub also saw a gain. Nationally, crude stocks soared from 453.6 …
Not only did crude oil prices plunge nearly 3% to a seven-week low on Wednesday, it took Oklahoma energy stocks on a downward spiral too. Oil fell on an unexpected build in US crude stocks along with the Fed decision not to cut near-term interest rates which could have increased oil demand. West Texas Intermediate …
