November 5, 2018 archive

Voters to decide whether to create special oil and gas tax fund

A state question calling for the creation of another reserve fund in Oklahoma to finance education has left a split among groups and associations that will be affected by it. State Question 800 would divert 5 percent of gross production tax collections to the Oklahoma Vision Fund starting July 1, 2020. Voters will decide Tuesday …

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Halliburton celebrates turning 100 years old

  Halliburton, the company that got its start in southern Oklahoma is celebrating its 100th anniversary this week. Company President and CEO Jeff Miller was joined by Halliburton Executive Chairman Dave Lesar to celebrate the company turning 100 by ringing the Opening Bell on the New York Stock Exchange. “Reaching our 100th anniversary signifies a milestone …

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Colorado governor plans call for special legislative session if proposed drilling setback is approved by voters

 If voters in Colorado approve Proposition 112, the increased drilling setback from homes, businesses and schools, Gov. John Hickenlooper is talking of a special legislative session. There continue to be claims that up to 80% of the state would be off limits to oil and gas drilling. The Colorado Oil and Gas Conservation Commission says …

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EOG reports major 3Q profits and plans expansion of Oklahoma exploration

While pursuing growth in Oklahoma’s STACK and SCOOP plays, Houston’s EOG Resources reported a $1.2 billion profit for the third quarter of 2018. that’s up from the $100 million reported a year ago and also more than the $700 million profit reported in the second quarter of this year. Revenues rose more than 80 percent …

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Increased Oklahoma taxes on oil and gas result in highest October revenue on record

With a 96 percent increase in oil and gas tax revenue in the past year, the October Gross Receipts for the state grew 16 percent overall. But the oil and gas revenue was down from September. State Treasurer Ken Miller announced a continued expansion of receipts to the treasury as they totaled $1.1 billion. The …

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Gasoline prices tumble as much as 8 cents a gallon for Oklahoma motorists

While domestic crude inventories added more than 3 million barrels of oil last week, gasoline prices in Oklahoma and other states dropped.  Prices in Oklahoma plunged up to 8 cents as the statewide averaged reached $2.47 a gallon, according to AAA Oklahoma. The national average dropped 6 cents to reach $2.76 a gallon as of …

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Earthquake prompts regulators to shut down well near Bridge Creek

A strong Sunday night earthquake near the Grady county community of Bridge Creek prompted state regulators to immediately stop drill of a well near the town. Some reports put it as a 3.7 magnitude quake but the U.S. Geological Survey recorded it at 3.1 magnitude. Event type:                       Earthquake Region:                           Oklahoma Geographic coordinates:           35.218N,  97.741W Magnitude:                        …

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Midstates Petroleum to release 3Q earnings report

We’ll learn this week how Tulsa-based Midstates Petroleum Company, Inc. did in the third quarter of 2018. The company plans to release its earnings report at the close of trading on the New York Stock Exchange on Thursday, Nov. 8, 2018. The company will also hold a conference call to discuss the third quarter results …

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Feds okay final extension of major NE gas line

Energy Transfer LP in Dallas just won government approval to begin work on the final laterals to finish its Rover Pipeline project to carry natural gas from the Marcellus and Utica Shale production areas. The 713-mile pipeline will transport up to 3.25 billion cubic feet a day of natural gas to be delivered to eastern …

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DEQ Board to hold public forum in Guthrie

Members of the Environmental Quality Board (EQB) of the Oklahoma Department of Environmental Quality (DEQ) encourage residents of central Oklahoma to attend a public forum scheduled for Friday, November 9, 2018. The public forum will be held following the regular business meeting of the board. There is no way to estimate how long the business meeting will last, …

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