Crude oil prices rose on Friday while Oklahoma energy stocks fell into negative territory. The crude oil gains came after new U.S. sanctions on Iran and its oil program. West Texas Intermediate crude rose 21 cents or 0.3% to close at $68.28 per barrel on the New York Mercantile Exchange. Brent crude gained 16 …
Oklahoma recorded an increase in its oil and gas rig count
Oklahoma saw a gain of two to reach 53 oil and gas rigs operating in the state, according to the latest rig count released by Baker Hughes Co. The increase compares to the 44 active rigs reported one year ago. Baker Hughes reported the nation saw a gain of one to reach 593 rigs. …
$11 million for J-B Hunt’s new CEO
For leading Arkansas-based J.B. Hunt Trucking, Shelley Simpson received more than $11 million total compensation last year. A proxy filed by the J.B. Hunt Transport Services Inc. revealed the payments to Simpson who served as company president since 2022. She was promoted to CEO on July 1 to replace John Roberts. Click here for …
Drone maker Kratos in development of hypersonic aircraft
The War Zone reported the development stating the company is aiming for the very-high speed uncrewed aircraft to be “orders of magnitude” less expensive than any other comparable design. What was not revealed by Kratos CEO ERric DeMarco in a recent interview with Aviation Week exactly where the development is occurring. It is …
Oil sanctions on Iran sends crude prices higher
The action of the U.S. to issue new Iran-related sanctions combined with rising tensions in the Middle East sent crude oil prices up nearly 2% in Thursday’s trading. Washington’s fourth round of sanctions on Iran’s oil sales since Donald Trump became President targeted for the first time a Chinese “teapot” or independent refinery as …
Expansion of Southwest Power Pool approved by FERC
Southwest Power Pool (SPP) will soon be the first regional transmission organization (RTO) in the U.S. to provide full services in both the Eastern and Western Interconnections of the nation’s power grid. On March 20, the Federal Energy Regulatory Commission (FERC) unanimously approved Southwest Power Pool’s amended tariff that includes provisions enabling Western members …
Greenpeace court decision and the First Amendment
This week’s decision by a North Dakota jury to hold Greenpeace liable for $660 million damages to Energy Transfer’s Dakota Access pipeline during protests several years ago has civil rights attorneys saying it will have a chilling effect on public protest. One attorney said it was a loss for the First Amendment and the …
Greenpeace says it will appeal the $660 million verdict from a North Dakota jury
Hit with a jury’s decision to pay more than $660 million in damages for defamation of Energy Transfer company, Greenpeace says it has no intention of coughing up the money and will appeal this week’s decision by a North Dakota jury. “The fight against Big Oil is not over today,” Greenpeace International General …
Would the Northeast actually give Williams a red carpet treatment?
When Williams CEO Alan Armstrong recently said he would not build a natural gas pipeline in New York and other New England states because of their past opposition to natural gas, he was speaking from experience. And he doesn’t like what he remembers who his firm was treated by those states. He vowed not …
Wind eases in Oklahoma but wildfire threat is still high
Despite a drop in the strong winds that hit 70 mph in some areas of Oklahoma on Wednesday, firefighters still anticipate a weekend of potentially more wildfires in the state. A Thursday report by the Oklahoma Forestry Services stated that conditions continue to degrade “posing significant resistance to control” and not requiring the kind …