With the help of a more than 300% increase in oil and gas gross production tax revenue, Oklahoma’s expanding economy pushed Gross Receipts to the Treasury into record high territory for both 12-month revenue and June collections, State Treasurer Randy McDaniel announced Wednesday. The gross production taxes on oil and natural gas totaled $79.7 million …
Category: Oil & Gas
Death of former oil and gas association leader reported
Former longtime executive with the Mid-Continent Oil and Gas Association, Bill Pitts died recently. He was92. Pitts retired as the President of the Oklahoma division of the Association and was its chief lobbyist at the Oklahoma legislature for 31 years. He also was President and CEO of the Oklahoma Business News Company from 1984 …
Energy news in brief
** Texas Gov. Greg Abbott wants his state Public Utilities Commission to hit renewables with costs if they don’t meet expected power production needs. ** The Environmental Protection Agency couldn’t issue fines on or raid vehicle modification shops under bipartisan legislation moving through the House. ** Shell is reportedly planning to quit its California-based joint venture …
Kansas and Missouri now have laws to help utilities shutter coal power plants
Missouri is the latest state to adopt a law helping utilities to close more power plants. A bill was signed Tuesday by Gov. Mike Parson which will hasten the transition to renewable energy. The Kansas City Star reported Parson signed into law a policy which will allow utility companies to refinance debt theu issued …
ONE Gas second quarter 2021 conference call and webcast scheduled
ONE Gas, Inc. will release its second quarter 2021 earnings after the market closes on Monday, August 2, 2021. The ONE Gas executive management team will participate in a conference call the following day, Tuesday, August 3, 2021, at 11 a.m. Eastern Daylight Time (10 a.m. Central Daylight Time). In the first quarter, …
Oklahoma gasoline prices follow the upward trend
Don’t expect gas prices to drop anytime soon. They’ve risen 40% nationwide since the beginning of the year reaching this week’s average of $3.13 a gallon. In Oklahoma, the average is up to $2.83 which is two cents higher than a week ago. A month ago, the Oklahoma average was $2.74 and a year …
Oil prices drop—farewell to $75 oil in the US
So much for $75 a barrel crude oil in the U.S. Oil prices took a hit after OPEC producers called off a meeting when major players could not come to an agreement whether to increase supply. After reaching a six-year high, crude oil for August delivery dropped $1.79 or 2.4% in Tuesday’s trading to …
Ex-Iowa Governor promotes carbon capture projects
Former longtime Iowa Gov. Terry Branstad contends carbon capture and storage is “one of the most meaningful steps” that can be taken to limit greenhouse gas emissions. Writing in the Des Moines Register, he said it has the potential to bring together individuals and organizations across the political spectrum. Click here for Des Moines …
Foundation to expand well plugging operations
Kansas could soon be the next site of the efforts of a Montana-based nonprofit that caps abandoned oil and gas wells to stop methane emissions. The Well Done Foundation got it start two years ago and plans to expand operations this fall according to a report by the Washington Post. Click here for Washington Post story.
Energy news in brief
** Oil prices rose on Monday, driven higher after the OPEC+ group of producers again called off talks on output levels, failing in its third attempt to resolve a deadlock on increasing production, and leaving the oil market facing tight summer supplies and rising prices, Reuters, Bloomberg and the Wall Street Journal reported. ** The …