The political fight by one group pushing for a statewide vote to increase the gross production tax on oil and gas in Oklahoma is turning into a legal battle. The Oklahoma Independent Petroleum Association has filed two legal challenges with the State Supreme Court to the drive for state question 795 led by Restore Oklahoma …
A contaminated former industrial site in Midwest City was added to the U.S. Environmental Protection Agency’s national priorities list for Superfund sites on Tuesday, according to a news report by The Oklahoman. As previously reported by OK Energy Today, the Eagle Industries site was located southeast of Oklahoma City at 10901 SE 29th in Midwest …
The Colorado Oil and Gas Conservation Commission is considering new rules for thousands of oil and gas pipelines following last year’s fatal explosion in a newly developed neighborhood addition in the town of Firestone. Investigators said the explosion was caused by odorless, unrefined gas leaking from a severed flow line. Colorado regulators met on Monday …
Corporate raider and activist investor Carl Icahn is at it again. In an open letter to Oklahoma City-based SandRidge Energy, Icahn is seeking the ability to appoint a member on the oil and gas company’s board of directors, according to a news report by The Oklahoman. Icahn spent over $82 million in October and November …
The Corporation Commission voted on Tuesday in favor of Oklahoma Attorney General Mike Hunter’s recommendation requiring five state utilities to account for savings from Tax Cut and Jobs Act of 2017, according to a report published in The Oklahoman. Passed by a vote of 2-1, the order was supported by Commissioner Todd Hiett and Commission …
Gasoline prices now average $2.25 a gallon in Oklahoma, the third lowest state in the nation according to new figures from AAA. Prices have been increasing since before the holidays, yet several southern states rank among the cheapest in the country offering gas under $2.50 a gallon. Missouri offers the least expensive gas in the …
Crude oil futures continued to rally on Tuesday as favorable forecasts extended gains and drove prices to a three-year high, according to Bloomberg MarketWatch. February West Texas Intermediate crude jumped $1.23, or 2%, to settle at $62.96 a barrel on the New York Mercantile Exchange, marking its highest finish since December of 2014. March Brent crude, …
Oil prices finished higher on Monday, adding to last week’s rally as traders welcomed data showing a weekly decline in the number of U.S. drilling rigs. February West Texas Intermediate crude rose 29 cents, or 0.5%, to settle at $61.73 a barrel on the New York Mercantile Exchange. March Brent crude, the global benchmark, added 16 cents, …
Tulsa-based SemGroup Corporation will sell its asphalt business, SemMaterials México, to Ergon Asfaltos México HC, LLC, for an estimated $70 million including a reimbursement of nearly $15 million of net working capital, according to a company press release issued on Monday. SemGroup intends to use proceeds from the sale toward its capital raise plan associated …
Oklahoma isn’t the only state monitoring the impact of tax changes on public utilities. In West Virginia, the Public Service Commission has directed all privately-owned electric, gas, water, sewer and solid waste facilities to track the tax savings on a monthly basis beginning in January. The law went into effect after President Trump signed the …
