From The Oklahoman Bolstered by an improving economy and increased oilfield activity, the Oklahoma state treasury has taken in a record $12.8 billion in gross tax receipts over the last 12 months, State Treasurer Ken Miller announced Wednesday. Those collections are $1.5 billion, or 13.1 percent, more than collections from the previous 12 months, he reported. The previous record for
Kingfisher Country tried to ban produced water pipelines in county road easement; state high court ruled that state agency OCC has exclusive jurisdiction to regulate oil and gas operations in Oklahoma From The Journal Record OKLAHOMA CITY – A legal battle between the state’s oil and natural gas industry and local regulators came to a close Tuesday, when the Oklahoma Supreme Court decided
Devon sees STACK as its second-highest funded asset in 2019 PRB is the “best emerging growth opportunity in North America” Oklahoma-based Devon Energy Corporation (ticker: DVN) reported its Q3 2018 results Tuesday. On the call, Devon President and CEO Dave Hager gave good insight into the company’s STACK developments in Oklahoma. “Beyond the Delaware, the STACK and Rockies will also
The rapid growth of oil production from shale combined with returning GOM production have succeeded in making the United States the leading crude oil producer in the world. The U.S. set a new record for daily oil production at 11.3 MMBOPD in August 2018, according to new data from the EIA. Thanks largely to U.S. shale, the fast-growing production from
From The Oklahoman Readers asked the Oklahoman about the potential that gross production taxes might be increased if Drew Edmondson is elected governor. The Oklahoman’s energy reporters, Adam Wilmoth and Jack Money, fielded questions during their monthly online energy chat on Tuesday. This is an edited transcript of that conversation. To see the full transcript, go to NewsOK.com. Q: I’ve heard that
Alta Mesa Resources, Inc. (ticker: AMR) produced 24,000 BOEPD in Q1 2018 and exited the quarter with average net production of 25,800 BOEPD in March. Overall, total production for the first quarter of 2018 was 2,162 MBOE. According to Alta Mesa, production for 2018 is expected to average between 33 MBOEPD and 38 MBOEPD. The company added rig number eight
Alta Mesa Resources, Inc. (ticker: AMR) and its wholly owned subsidiaries, Alta Mesa Holdings, LP (AMHLP) and Kingfisher Midstream, LLC, have released financial results, CapEx guidance and other updates. 2018 CapEx Alta Mesa’s total capital expenditures for 2018 are expected to range from $725 million to $800 million. Capital will be allocated primarily to Alta Mesa’s upstream STACK area, $550 million
From The Oklahoman Oklahoma’s oil and gas operators haven’t completely abandoned drilling vertical, or “straight hole” wells, Corporation Commission records show. It reported that 197 wells of the 1,003 completed in 2016 were straight hole wells. Granted, that’s down from a recent high of 858 vertical wells permitted in 2011 and completed by June the following year, when that represented
ARM Energy Holdings LLC said that the company and its partners have sold Kingfisher Midstream, LLC to Silver Run Acquisition Corporation II, in exchange for an aggregate consideration of up to $1.55 billion. The transaction consideration is comprised of $800 million in cash, ~$550 million in Silver Run II stock and up to ~$200 million in additional Silver Run II
Panhandle Oil and Gas Inc. (ticker: PHX) reported financial and operating results for the company’s fiscal first quarter ended December 31, 2017. For the 2018 first quarter, the company recorded net income of $13,784,939, or $0.81 per diluted share. This compared to a net loss of $2,238,392, or ($0.13) per diluted share, for the 2017 first quarter. The 2018 first
Gastar Exploration Inc. (ticker: GST) will divest its interest in the West Edmund Hunton Lime Unit (WEHLU) for $107.5 million. The transaction is expected to close on or before February 28, 2018, with a property sale effective date of October 1, 2017. Gastar received a deposit of 10% of the purchase price on January 25, 2018. WEHLU is primarily located
Panhandle Oil and Gas Inc. (ticker: PHX) is headquartered in Oklahoma City, Oklahoma. Panhandle has approximately 255,000 net acres of perpetually owned mineral rights spread across Arkansas, Oklahoma and Texas. Panhandle leases its properties to oil and gas operators and does not have the burden of paying to operate productive leases, but instead acts as a royalty interest holder. As
