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Author Archives: Ross Torgerson

Albuquerque City Council withdraws support for PNM’s plan to close units at San Juan Generating Station

FARMINGTON – Albuquerque officials voted on Monday to withdraw support for Public Service Company of New Mexico’s current plan to close two units at San Juan Generating Station. By a vote of 6 to 3, city councilors adopted a resolution directing the city of Albuquerque to withdraw its support for PNM’s plan, which would replace two stacks’ worth of lost ...

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Oklahoma oil tax collection lowest in 12 years

OKLAHOMA CITY — The gross production tax revenue for Oklahoma’s oil and gas industry has dropped to lowest level in more than a dozen years. The Oklahoman reports that the new revenue data for March was released Monday. State Treasurer Ken Miller said the tax collections fell to $39.6 million for the month, lowest since September 2002, when $32.5 million was ...

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Low oil price to spur M&A

KUALA LUMPUR – The falling price of crude oil will spur a fresh round of mergers and acquisitions (M&A) among local players in the industry, as companies seek to lower operating costs amid cutbacks in exploration and production (E&P) spending by oil giants. “Companies would want to take advantage of low oil prices to acquire new capabilities from companies that ...

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Why job growth and cheap gas aren’t doing what they should

WASHINGTON — Steady hiring is supposed to fire up economic growth. Cheap gasoline is supposed to power consumer spending. Falling unemployment is supposed to boost wages. Low mortgage rates are supposed to spur home buying. America’s economic might is supposed to benefit its workers. Yet all those common assumptions about how an economy thrives appear to have broken down during ...

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Area wages climb, while unemployment dips

CORPUS CHRISTI – Jobs in Nueces County are more plentiful and pay better than they did a year ago, but local economist worry the picture could change in coming months because of the region’s strong ties to the energy industry. Nueces County was one among the state’s 25 largest counties where employment and wages rose from the third quarter of ...

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U.S. oil rig count cull eases, approaches low point

NEW YORK – Two weeks of thin declines in the U.S. rig count have raised expectations that drilling activity is nearing a pivotal level that could dent production, bolster prices and coax idle rigs back to the field after a precipitous cull since October. Energy producers responded quickly to a steep drop in oil prices over the last six months, ...

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Loving facility to expand pipeline capability

pipeline

LOVING – A Texas based company, Rangeland Energy, will build a system designed to transport crude oil from the Delaware Basin to markets across the U.S. using an outbound rail and pipeline. “It’s nothing new happening out there, but it’s part of Rangeland’s master plan,” said Jay Jenkins, president of the Carlsbad Department of Development. Rangeland is developing its RIO ...

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ONEOK Partners plans to extend West Texas pipeline to Mexico

COYANOSA, Texas — ONEOK (WUHN’-oak) Partners LP plans to extend its West Texas pipeline system to transport natural gas to Mexico. Tulsa, Oklahoma-based ONEOK on Wednesday night announced the venture with a subsidiary of Fermaca Infrastructure of Mexico City. The Roadrunner gas transmission pipeline project would extend from ONEOK’s site at Coyanosa, about 50 miles southwest of Odessa. The line ...

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