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Halliburton to Redeem $2.5 billion in Outstanding Notes
A week after breaking off its merger agreement with Baker Hughes, Houston-based Halliburton Company announced it will also redeem the entire outstanding principal amount of $2.5 billion in its 2.700% Senior Notes due March 2020. The offer also includes its 3.375% Senior Notes due in March 2022. The redemption date for the Notes is May …
State House Speaker Agrees—-It’s Time to Cut CNG Tax Credit
Oklahoma Speaker of the House Jeff Hickman (R-Fairview) agrees that the tax credit created several years ago to help the then-struggling CNG industry get off the ground in Oklahoma should be cut because of the state’s budget crisis. “I don’t think it will have a major impact,” said Rep. Hickman, in an interview with …
Three State Airports Share $800,000 in State Airport Grants
Improvements are expected to begin soon at various airports around the state because of $800,000 in grants from the Oklahoma Aeronautics Commission. The grants for West Woodward Municipal Airport, Anadarko Municipal Airport and Clinton Municipal Airport come from the Commission’s three-year Capital Improvement Program or Construction Program. “Our local airports are gateways to the world …
DEQ Taking Comments or Requests for State Implementation Plan Under Clean Air Act
Oklahoma’s Department of Environmental Quality says it is taking public comments and any requests for a public hearing on a proposed Infrastructure State Implementation Plan under the Clean Air Act. The SIP is for the 2012 Primary Fine Particulate Matter National Ambient Air Quality Standard. The DEQ will take requests for hearing until 10 …
Legislator Wants Study of New Turnpikes and Spending of Taxes
One Oklahoma legislator wants a new study on the viability of new turnpikes in the state. Rep. Lewis Moore, R-Edmond wants the study done on turnpikes, the distribution of motor fuel taxes, motor vehicle taxes and what he calls an end to the “cross pledging” of turnpikes “so we can keep the original promise to …
Oil Group Encourages Legislature to Pass Bill to Increase Oil/Gas Revenue for the State
A bill awaiting a vote in the Oklahoma House is being pushed by the Oklahoma Oil and Gas Association, a group that says would add more oil and gas revenue to the state treasury. “House Bill 2177 is the single biggest economic development legislation before lawmakers this session, and it doesn’t cost the state …
Rig Counts Across U.S. and Oklahoma Fell Again
Oklahoma’s oil and gas rig count fell by 3 in the past week while the nation’s count slipped by 5, according to the latest figures from Baker Hughes Company. Oklahoma’s decline left the state with a count of 57 working oil and gas rigs. Nationwide, the count fell to 415, down 479 from a year …
Oil and Gas Tax Revenue Hits 17-year Low in Oklahoma
A 17-year low has been reached in Oklahoma’s gross production oil and gas taxes, according to State Treasurer Ken Miller who said the $20.8 million in April collections are the lowest since May 1999. He said gross production collections continue a 16-month trend of being less than the same month of the previous year. The April …
Sen. Lankford Tells Feds It’s Time to Remove Beetle from Endangered Species Act
Oklahoma U.S. Sen. James Lankford has joined the call for the U.S. Fish and Wildlife Service to delist the American Burying Beetle from the Endangered Species Act. In a letter to Director Daniel Ashe, the Senator argued the presence of the beetle and its protected status has a “real impact on local economies and infrastructure …
Senate Committee Cuts Tax Credits in Two Energy-Related Bills
Two energy-related bills are among several approved by the Oklahoma Senate Joint Committee on Appropriations and Budget as the legislature gets serious about resolving the $1.3 billion budget shortfall. One goes after tax credits meant to help Oklahoma’s CNG industry. Senate Bill 1581 limits the amount of tax credits for investment in clean-burning motor fuel …