ROFR is alive and well in Iowa where an Iowa House Commerce Committee voted this week in support of a bill giving utility companies the right of first refusal in construction of new transmission projects. House Study Bill 123 was proposed by Iowa Gov. Kim Reynolds and won approval in committee on a …
Colorado oil and gas company can’t escape $2 million in fines
No only “no” but “hell no.” It wasn’t what a Colorado judge recently said in a ruling against a Denver-based oil and gas company facing nearly $2 million in fines over operations of its 1,200 wells, but the effect strongly suggested it. Denver District Court Judge Andrew Luxen not only rejected K.P. Kauffman’s efforts …
Another electric transmission corridor fight is brewing
Just as Oklahomans opposed a large electric transmission corridor across the northern stretches of the state, a similar corridor that would cross a small portion of theOklahoma Panhandle and in two other states is facing opposition. Oklahoma’s fierce opposition resulted in the Delta-Plains National Interest Electric Transmission Corridor being cancelled by the federal government …
Oklahoma defense contractor gains from new defense department project
The nation’s $3.5 billion overhaul of the U.S. Navy’s nuclear submarine communications system means good news for one Oklahoma City company. Defense contractor Long Wave Inc. will triple in size as a result of the massive program, reported the Journal Record. Long Wave’s chief marketing officer, Chris Lozano said the company is attempting to hire …
Treasurer’s report shows increased tax revenue from oil and gas
Oklahoma’s gross production tax revenue from oil and gas operations made a more than 6% gain in January from December 2024. The Oklahoma Treasurer’s office released the latest tax revenue figures showing the state had a $4.8 million or 6.1% increase from the last month of 2024 to the first month of 2025. The …
Big earnings and record oil production for Devon Energy
“Exceptionally strong results,” is how Devon Energy’s President and CEO, Rick Muncrief, described the fourth quarter financial earnings for the Oklahoma City-based oil and gas company. Strong indeed. Net earnings for the quarter totaled $639 million or 98 cents a share while for all of 2024, Devon Energy’s net earnings were $2.9 billion or $4.56 …
Legislator faces opposition in anti-green energy and “humanure” bills
The efforts of one Oklahoma legislator to ban the use of Humanure as fertilizer in the state are being blocked in a House Committee. “I received word yesterday that my bill calling for a ban on the application of Humanure as fertilizer in the state of Oklahoma, HB 1726, will not be heard in committee. …
Energy briefs
** During an internal town hall meeting last week, roughly 40,000 Chevron employees were shown a video touting the oil giant’s success in Colorado as the largest oil and gas producer in the state. Less than 30 minutes later, executives announced plans to cut up to 20% of the global workforce, reported Reuters. ** Experts say the …
More Permian Basin earthquakes might lead to restrictions
Oil and gas operators in the Permian basin worry that two recent large earthquakes that hit the region this week might lead to more controls over water disposal practices. The deep water injection, very similar to what led to more restrictions in Oklahoma a few years ago, is under a brighter spotlight in west …
Crude oil prices made gains following oil pipeline attack
Crude oil prices made gains on Tuesday as they were affected by two issues—this week’s drone attacks on a key oil pipeline for Kazakhstan’s oil exports and the talks underway to possibly end the war in Ukraine. The prospects of peace between Russia and Ukraine have some traders optimistic that it could lead to …