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May 22, 2017

Legislature Passes "Ike Dike" Committee Bill

State-appointed group would look into building hurricane barriers along Gulf Coast

A plan creating a committee to study the "feasability and desirability" of a barrier system along the Texas coast that would protect populations and businesses such as refineries was passed by the legislature Monday evening.

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By Mike Shiloh


May 22, 2017

Lege Passes Wind Turbine Limitation Bill

A long-discussed bill that would end tax breaks for property owners intending to build wind energy turbines within 25 miles of military bases has passed the Texas Legislature.

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By Mike Shiloh


May 22, 2017

Texas Energy Report Closing Top Texas Energy Stocks

WTI up 0.40 to close at $50.73

Brent up 0.12 to close at $53.73

Natural gas up 0.07 at $3.33

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CLOSING OIL STOCKS

Anadarko (APC) up 0.05 at 53.35

Apache (APA) down 1.14 at 50.02

Chevron (CVX) down 0.40 at 106.12

ConocoPhillips (COP) down 0.55 at 46.93

Devon (DVN) down 0.31 at 38.08

Energy Transfer Partners (ETP) up 0.42 at 23.42

EOG Resources (EOG) down 0.70 at 93.11

ExxonMobil (XOM) up 0.36 at 82.29

Halcon (HK) up 0.05 at 7.15

Marathon Oil Corp. (MRO) down 0.09 at 14.44

Noble Energy (NBL) down 0.15 at 31.09

Occidental Petroleum (OXY) down 0.05 at 60.59

Parsley Energy (PE) down 0.19 at 31.42

Phillips 66 (PSX) up 0.30 at 78.55

Pioneer Natural Resources (PXD) down 3.06 at 173.56

Valero (VLO) down 0.03 at 63.84

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CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) up 0.70 at 69.42

CenterPoint (CNP) up 0.22 at 27.70

Entergy (ETR) up 0.67 to close at 76.36

Exelon Generation (EXC) up 0.47 at 35.53

NextEra Energy (NEE) up 1.06 at 138.35

NRG (NRG) up 0.25 at 15.96

Vistra Energy (VST) up 0.24 at 15.04

By Mike Shiloh


May 22, 2017

Land Office Oil Spill Bill Passes

The Texas House and Senate have signed off, with amendment, on HB 1625, which would allow the General Land Office to confiscate vessels or structures that are involved in an oil spill if, after being properly notified, the owner of the vessel doesn't take immediate action to stop the oil spill. 

The law would apply to vessels and structures "involved in an actual or threatened unauthorized discharge of oil."

By Mike Shiloh


May 19, 2017

Bill Ending County CETRZs Goes to Governor

A bill that ends the ability of Texas counties to use property and sales tax money for fixing roads that have been damaged by oil and gas activities is on Governor Greg Abbott's desk for signing.

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By Mike Shiloh


May 19, 2017

Rate Adjustments Review of Some Electric Utilities Passed by Lege

The Texas House of Representatives on Friday passed and signed the Senate bill requiring a PUC schedule to review certain electric utilities' rates.

SB 735 would require the Public Utility Commission (PUC), by June 1, 2018, to establish a rate schedule by rule that would require an electric utility to make periodic filings with the commission to modify or review the electric utility's base rates.

The bill would apply only to an electric utility, other than a river authority, that operated solely inside the Electric Reliability Council of Texas. (Text from the Legislative analysis)

Critics say the new law (if signed by the Governor) would add to the PUC's and utilities' costs.

By Mike Shiloh