** Chrysler-parent Stellantis is laying off as many as 2,450 factory workers from its Warren Truck assembly plant outside of Detroit as the automaker ends production of the Ram 1500 Classic truck. ** The Biden administration is proposing to restrict the federal lands that are open for future coal mining in North Dakota — though …
Head of Southwest Power Pool announces retirement
Southwest Power Pool’s (SPP) President and CEO Barbara Sugg announced on August 8 that she will retire in April 2025 following 35 years of service to the organization. SPP’s board of directors has engaged search firm Heidrick & Struggles to assess internal and external candidates to identify Sugg’s replacement. The board will name a …
Crude oil prices and OK energy stocks make another recovery
Not only did crude oil prices climb on Thursday, but so did Oklahoma energy stocks as U.S. jobs data reportedly eased demand concerns. Prices were buoyed after data showed the number of Americans filing new applications for unemployment benefits fell more than expected last week reported Reuters. At the same time, the growing spectre of an …
More to come in Hiett scandal? Accusers aren’t finished?
The scandal surrounding Oklahoma Corporation Commissioner Todd Hiett isn’t going away. More allegations are reported to soon be surfacing. Accused of drunkenly groping a man at a Minneapolis, Minnesota bar where he was attending a national convention in June, Hiett steadfastly refuses to resign, although this week he surrendered his chairmanship of the three-member …
Ascent Resources moves toward more oil production to fight natural gas price volatility
The volatility in natural gas prices forced Oklahoma City’s Ascent Resources to include more oil production, but the company still reported a net loss of $98 million along with adjusted net income of $96 million. The firm indicated it had adjusted EBITDAX of $333 million and cash flows from operations of $211 million …
Vital’s 2Q earnings much improved over 1Q report
Tulsa’s Vital Energy recorded improved earnings and oil production in the second quarter. The company not only had record quarterly total and oil production of 129.4 thousand barrels of oil equivalent a day and 59.2 thousand barrels of oil a day, it reversed a first quarter net loss of $66 million. Vital had net income …
Another large solar manufacturing plant will be built in Albuquerque
Albuquerque, New Mexico is about to get a second large-scale solar manufacturing plant. Ebon Solar, with Singapore connections, plans to construct a 834,000-square-foot plant at a development area called Mesa del Sol. The site is also where another solar energy firm, Maxeon Solar Technologies, is planning to locate. Ebon announced this week it will …
SandRidge experienced 2Q drop in net income
Oklahoma City’s SandRidge Energy had a drop in net income in the second quarter, falling from $11.1 million and 30 cents a share to $8.8 million and 24 cents a share. The company’s adjusted net income also fell. It was $8.4 million and 23 cents a share at the end of the first quarter …
Democratic leader says Hiett still needs to resign
State House Democratic leader, Rep. Cyndi Munson says it is still necessary for Corporation Commissioner Todd Hiett to resign from office over the allegations of his drunken groping of a man during a national convention in Minnesota. She said Hiett’s decision Wednesday to at least step aside as chairman of the three-member Commission and surrender …
Reps reach out to Johnson on tax credits
Some Republicans in the U.S. House are attempting to persuade House Speaker Mike Johnson not to initiate efforts to eliminate energy tax credits. None are Oklahoma Representatives. The Republicans who want to save the credits were led by New York Rep. Andrew Garbarino who believes a repeal of the energy tax credits in the …