The budget bill that includes a hike in the gross production tax on oil and gas in Oklahoma has been signed into law. It’s part of the $7.6 billion Fiscal Year 2019 budget bill signed Monday by Gov. Mary Fallin, the largest in state history. Funds from the increase will help pay for historic teacher …
A claim by Israel that Iran lied in order to get the nuclear deal with the Obama administration sparked a jump in oil prices on Monday. Futures in New York went up seven-tenths of one percent, settling pennies short of a three year high. The price for a barrel of West Texas Intermediate crude …
Congressman Trey Gowdy is moving ahead with the House Oversight Committee probe of EPA Administrator Scott Pruitt. Over the weekend, the South Carolina Republican Representative told “Face the Nation” he had received documents his committee had asked of the EPA in his expanded probe of Pruitt, the former Oklahoma Attorney General. “We are scheduling witness …
As Tulsa’s Helmerich and Payne International Drilling Company moves ahead with a software fight with Schlumberger Technology Corporation, a Tulsa federal judge has issued a ruling excluding part of the fight. U.S. District Magistrate Judge Frank H. McCarthy recently ruled that Schlumberger’s defense regarding “rig of the future” software technology is not appropriate for discovery …
Tulsa-based Trinity Chemical LLC has won a breach of contract lawsuit filed against a Nebraska ethanol operator. In a recent judgment by Tulsa U.S. District Judge John E. Dowdell, the company was awarded $616,626.41 against Cornhusker Energy Lexington, LLC, a firm based in Lexington, Nebraska. The lawsuit was filed in 2016 following an agreement by …
Gasoline prices continue to reach their highest levels in nearly three years as Oklahoma’s average has reached an average of $2.52 a gallon, an increase of 6 cents over the past several days. But the national average is up to $2.81 a gallon for gasoline while diesel fuel prices have reached an average $3.06 a …
Oklahoma Gov. Mary Fallin recently helped dedicate Commercial Metals Company’s new micro mill in Durant. The mill is CMC’s second technologically advanced micro mill that uses a continuous manufacturing process which melts, casts and rolls steel from a single uninterrupted strand, resulting in higher yields and lower energy consumption than the traditional mini mill process. …
Marathon Petroleum, one of the active players in Oklahoma’s STACK oil play announced this week it intends to buy rival Andeavor in a $23 billion deal. The purchase will make the newly-formed company the largest U.S. refiner. It’s a cash-and-stock deal that values Andeavor at nearly $152 per share. The combined company will have the …
Oklahoma added 6 more rigs in the past week to reach 133 exploring for oil and gas while the nation added 8 to reach 1,021 working rigs. The national count included 5 more oil rigs to reach a total of 825 while the number of gas rigs grew by 3 to hit 195. Over the …
Northwest Oklahoma will be the site of a fracking sand plant that will create more than 130 new jobs for the area. Preferred Sands, headquartered in Radnor, Pennsylvania has already broken ground for its frack sand plant to be located at the small community of Oakwood, midway between Watonga and Woodward. “Concrete’s being poured and …