Tuesday , May 14 2024

Energy News

Federal government yanks permit for controversial Utah oil rail line through Colorado

  Plans to ship Utah’s Uinta Basin crude oil on a rail line through Colorado and eventually to Oklahoma’s Cushing hub just got harder—if not impossible. The proposed Unita Basin Railway Project was fought by western Colorado Counties who feared train derailments could cause environmental catastrophes. This week, the U.S. …

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Tallgrass Energy Partners raising funds with $800 million note sale

  Tallgrass Energy Partners, LP, the Kansas City-based company with pipelines extending to Oklahoma’s Cushing Hub, announced this week an $800 million offering of notes. Designed to raise money for the company, the offering was increased from the original $700 million to the new value of $800 million. It includes …

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Pilot Travel Centers now owned 100% by Berkshire Hathaway

  Those Pilot Travel Centers around Oklahoma are now totally owned by Berkshire Hathaway. Billionaire Warren Buffet’s company announced this week it acquired the remaining 20% in Pilot Travel Centers LLC across the nation. It means the 750 travel centers around the U.S. are 100% owned by Berkshire Hathaway. Eleven …

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ONEOK expands share buyback program

  ONEOK announced this week the extension of its share repurchase program saying its goal in the next few years is to acquire $2 billion in shares. The board of directors said  the effort will be made over the next four years, explaining the buyback will “complement the dividend growth …

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Crude oil prices remained flat in Wednesday’s trading

Crude oil prices remained nearly flat in Wednesday’s trading with Brent down and WTI up a little after China had disappointing economic growth, resulting in concerns about energy demand. Plus, crude oil production in North Dakota has been cut in half because of extremely low temperatures. It also proved to …

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Copper thieves bring down radio station’s tower

  Copper thieves were so desperate to swipe the metal from a radio tower in Hugo, they cut the tires holding the tower, causing the 500-foot structure to collapse, knocking a local radio station off the air. “You’ve robbed the community of a voice. You’ve robbed the community of a …

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Frigid weather cut North Dakota oil production in half

Temperatures were so low this week in North Dakota—how about minus 20 for a high—that the state’s oil production was cut in half. Oil production fell between 600,000 and 650,000 barrels a day as of Tuesday, reported the North Dakota Pipeline Authority. Justin Kringstad, director of the state’s pipeline authority …

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New energy firm explores more acreage opportunities in the Permian

  A Dallas oil and gas company that is not even one year old is making some headlines in the Permian Basin where it started making more acquisitions for oil production. Ellipsis U.S. Onshore, formed in June 2023, is considered a newcomer to the Delaware Basin which makes up the …

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Lucas committee wants answers over latest Artemis space delay

  As chairman of the House Science, Space and Technology Committee, Oklahoma Congressman Frank Lucas was eager Wednesday to learn more about why NASA’s Artemis program was delayed again. He chaired a hearing on the subject of Returning to the Moon: Keeping Artemis on Track, and showed he wanted some answers …

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How close is ERCOT in Texas to failure over extreme weather?

  At least one energy expert maintains the electric grid in Texas, ERCOT, is under a crucial test this week because of the extreme cold and it could show how close it is to another collapse—just like it did during Winter Storm Uri in 2021. That’s the opinion of David …

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