OK Energy News

  OGE Energy Corp. , the parent company of Oklahoma Gas and Electric Company reported earnings of $1.31 per diluted share during the three months ended September 30, 2022, compared to $1.26 per diluted share in the same period in 2021. OGE Energy’s net income was $262.8 million or $1.31 per diluted share in the third quarter, compared to earnings of $252.5 …

  Some are suggesting this week’s election results will be one of the most important in the history of the Permian Basin. If Republicans win the U.S. House majority, they might use their power to stop the Environmental Protection Agency from declaring the Basin a non-attainment area reported The Odessa …

  Federal prosecutors announced this week the arrests of 13 persons allegedly involved in a ring of catalytic converter thefts around the Tulsa area. An estimated 2,000 converters were stolen in Tulsa in the past year according to U.S. Attorney Clint Johnson. News on 6 in Tulsa reported some of …

  China’s latest COVID policy raised concerns among crude oil analysts Thursday, causing a 2% slide in oil prices. At the same time, the hike in U.S. interest rates pushed up the dollar, adding to growing fears of a global recession which would result in less demand for fuel. West …

  Canoo has announced a battery module manufacturing facility at MidAmerica Industrial Park in Pryor, OK. The new facility will expand Canoo’s manufacturing and employment footprint in the region. Once ramped, the facility will be capable of approximately 3200 MWhs of battery module manufacturing capacity. “We are accelerating our hiring plans …

        SandRidge Energy reported only a slight gain in earnings in the third quarter report issued this week but returned more wells to production following a shutdown in 2020. The company reported its adjusted EBITDA was $54.8 million compared to $53.7 million in the previous quarter. Net …

  Just as billionaire Harold Hamm and his family prepare to take full control of Continental Resources and end public control, the Oklahoma City company reported a strong third quarter earnings. Cash flow from operations totaled $2.22 billion while free cash flow was $1.01 billion. Net income for the quarter …

  U.S. crude oil storage dropped in the past week while there was an increase in the amount of oil stored at the Cushing hub in northern Oklahoma. The EIA reported Cushing’s total of oil in storage as of Oct. 28 was 28.2 million barrels, up from the 26.9 million barrels reported …

  We apologize for some of the technological issues regarding our daily Well Reports—those of Permits to Drill and Completion Reports. They have been absent for the past week. The firm that supplies the data to us has been challenged with the issue and hopes to have things “working again …

  A surprising dividend cut sent shares of Devon Energy plunging on Wednesday. Shares dropped nearly $10 by the time the trading bell sounded. Devon closed down $9.86 or 12.76% to settle at $67.44 a share. It came a day after Devon had an upbeat third quarter earnings report. But, …