Oklahoma’s STEM education program got an $80 million boost this week from the Oklahoma legislature. The State House of Representatives approved legislation to allocate $80 million from the Legacy Capital Financing Fund to construct, refurbish and expand life science facilities at Oklahoma State University. Rep. John Talley, R-Stillwater, presented House Bill 2893 on the House …
May 2024 archive
Stock conversion plan announced by Vital Energy
Vital Energy, Inc. announced a plan to convert some of its Series A Preferred stock into common stock in the Oklahoma City company. The announcement pertained to all outstanding shares of Vital’s 2.0% Cumulative Mandatorily Convertible Series A Preferred Stock,par value $0.01 per share. They will be onverted into shares of the firm’s common stock, …
AG warns of overdue toll charge scam
Attorney General Gentner Drummond is warning Oklahoma consumers about a new scam in Oklahoma involving text messages about overdue toll charges. Some Oklahomans have received messages claiming they owe past due toll charges along with a link to click and pay. However, the scam messages are phishing attacks designed to steal personal information. “These scammers …
Tulsa-based coal firm saw drop in coal sales due to Baltimore bridge collapse
Tulsa’s major coal-mining company, Alliance Resource Parnters, L.P. revealed in an announcement this week it was one of the firms that suffered when a cargo ship plowed into the major bridge crossing the Baltimore harbor and destroyed it. Alliance, considered one of the largest east-coast coal mining firms said as a result of the …
Results of annual shareholders meeting announced by Gulfport Energy
No surprises came out of the recent annual meeting of stockholders in Gulfport Energy Corporation in Oklahoma City. Results of the elections were announced this week indicating that shareholders elected the slate of directors. Timothy J. Cutt, David Wolf, Jason Martinez, Jeannie Powers, David Reganato, John Reinhart and Mary Shafer-Malicki were elected to serve …
Green grass replaces 1 million acres of scorched land in Texas Panhandle
The 1 million acres of Texas Panhandle land scorched by the late February wildfires that spread into western Oklahoma are quickly recovering. Green grass is popping up on land that had been darkened by the deadly fires that left two people dead along with more than 10,000 head of cattle. Losses are still estimated …
State budget agreement includes $50 million oil and gas tax rebate program
Oklahoma’s oil and gas industry came out a winner in the recent budget deal announced by legislative leaders. The agreement included $50 million for a tax rebate program for methane-reduction equipment upgrades. The Oklahoma Tax Commission will administer a revolving fund and allow companies to claim up to 25% of their costs to …
ConocoPhillips takes over Marathon Oil in $22.5 billion deal
ConocoPhillips is still betting on the production of oil and gas as the company that had its origins in Oklahoma announced Wednesday it is acquiring Marathon Oil Corporation in a more than $22 billion deal. Now headquartered in Houston, the company describedthe deal as an all-stock transaction with an enterprise value of $22.5 …
Energy briefs
** The Biden administration on Tuesday announced new guidelines for ensuring the integrity of carbon credits or offsets. Individuals, businesses and other entities can buy these credits to try to “offset” their emissions as part of an effort to achieve net-zero. This can entail things like paying organizations toplant trees or prevent them from being cut down. ** ConocoPhillips …
US crude prices soared by nearly 3% in Tuesday’s trading
Not only did crude oil prices jump more than $2 a barrel or nearly 3% in Tuesday’s trading but Oklahoma energy stocks gained as well with a few seeing 6% and 7% boosts for the day. Crude prices rose on an anticipation that OPEC+ will maintain crude supply restrictions when members meet June 2. The …