September 6, 2018 archive

Oil and gas revenues helped set State revenue collection records

Oklahoma Treasurer Ken Miller released August gross receipts showing there was double-digit expansion in the past year. August receipts totaled $995.1 million, an increase of 13.1% from August 2017. Gross receipts in the past year totaled $12.4 billion, which was a 11.9 percent increase. Both totals are record highs. As for the gross production taxes …

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Pruitt’s trip to Rome cost more than reported

  Even after leaving office as Administrator of the EPA, Scott Pruitt continues to draw the ire of environmental groups. The latest is a report by the nonprofit Environmental Integrity Project which says documents about Pruitt’s June 2017 trip to Italy cost taxpayers a third more than previously reported. It had previously been reported that …

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NextEra wind projects sold within the company

  NextEra Energy Partners, the wind giant agreed this week to purchase eleven wind and solar projects,  including those in Oklahoma from NextEra Energy Resources.  It is a $1.275 billion purchase that includes $930 million in tax equity financing and $38 million in debt. The wind and solar assets include those in Oklahoma, Texas, Nevada, …

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Tulsa’s Rebellion Energy Makes $100 million commitment to Powder River Basin

The Powder River Basin, where several Oklahoma energy companies have established a foothold in oil and gas exploration continues to get publicity over becoming the next big oil play in the U.S. Some of those Oklahoma firms, such as Rebellion Energy of Tulsa paid millions for acreage in Wyoming. One report indicated Rebellion plunked down …

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Total unloads its share of a closed oil sands project

Sold in Canada….Total’s oil sands project that had been closed for the past four years because of low prices. The French oil giant unloaded the project in Albrta to a Canadian energy company for more than $170 million U.S. dollars. The buyer is Canadian natural Resources Limited. Before the operation was shut down in 2014, …

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Helium prices climb in government’s most recent auction

The government’s recent helium auction held in Amarillo, Texas resulted in a 135% increase in prices bid during the auction. The average price at the auction held by the U.S. Bureau of Land Management was $279.95 per million standard cubic feet, up from last year’s average of $160.64. The BLM operates and maintains a helium …

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Lawsuit settlement offered by Chesapeake Energy and oilman Tom Ward

Accused of conspiring to suppress competition for oil and gas leases in northern Oklahoma two years ago, Oklahoma City’s Chesapeake Energy and former SandRidge Energy CEO Tom Ward have agreed to pay nearly $7 million to settle a class-action lawsuit. The suit was filed in Oklahoma City federal court in 2016 against Chesapeake, Ward and …

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Marathon signs deal to boost Delaware Basin operations

Marathon Oil, a major player in oil and gas exploration in Oklahoma’s STACK and SCOOP plays has executed a long-term natural gas gathering and processing agreement for operations in southeast New Mexico. Marathon’s Permian LLC, a subsidiary of Marathon Oil reached the deal with Lucid Energy group.  Lucid provides midstream services to Marathon under a …

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New pipeline system owner in North Dakota

Oklahoma energy explorers who have used oil and natural gas gathering systems of Paradigm Energy Partners will find a new operator of the lines. Paradigm has sold its operations in the Williston Basin of North Dakota.  Ares Management, L.P. based in Los Angeles says the Paradigm assets will be combined with the Ares’ Van Hook …

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Rural Oklahoma group is formed to get better representation

Officials at the Oklahoma Rural Association (ORA) announced its initial launch in Oklahoma. As a new, membership association in Oklahoma, the ORA seeks to provide cohesive representation at the State Capitol and in Washington, D.C. on behalf of the industries in rural counties and communities statewide. “For too long, we have seen the needs of …

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