Widgets Magazine
Page 5 of 25 FirstFirst 12345678910 ... LastLast
Results 101 to 125 of 617

Thread: Oklahoma business energy news

  1. #101

    Default Re: Oklahoma business energy news

    Quote Originally Posted by zookeeper View Post
    from your industry.
    Everybody needs to remember that if you are a consumer of hydrocarbons you are in that "industry" in much the same way that you are in agriculture, if you eat......

    In both cases if either are not doing well, its going to eventually impact your life in a bad way. Just like it already has.

  2. #102

    Default Re: Oklahoma business energy news

    Quote Originally Posted by ou48A View Post
    It is an incentive that without would cause many drilling rigs packing up for better prospects and there are many better prospect out there all over the world.

    We need to be careful that we don't needlessly and suddenly devastate many small Oklahoma towns with rash decisions. Fewer jobs would put additional strain on our states social services.

    The, workers, suppliers, manufacturers royalty holders and more all pay taxes to the sate and local governments that in the end exceed the state incentive.

    What I would like to see is the incentive tied to the price of crude and NG The higher the prices the lower the incentive and I would like to see the severance tax increased after one year.
    When crude or NG prices are at very high prices I would like to see a certain % go into a state oil /NG fund that would be treated much like an endowment.
    It's not. State revenues as a whole are declining. Pretty mucb all because of the $300million reduction in use tax collections. You'd think if things were going as great as they are in our state (low unemployment, income gains etc) that tax collections would go up.

  3. #103

    Default Re: Oklahoma business energy news

    Quote Originally Posted by onthestrip View Post
    It's not. State revenues as a whole are declining. Pretty mucb all because of the $300million reduction in use tax collections. You'd think if things were going as great as they are in our state (low unemployment, income gains etc) that tax collections would go up.
    Internet sales are the biggest culprit of lost taxes than from any other source.......

  4. #104

    Default Re: Oklahoma business energy news

    Quote Originally Posted by Bellaboo View Post
    Internet sales are the biggest culprit of lost taxes than from any other source.......
    Can you provide a source for that?

  5. #105

    Default Re: Oklahoma business energy news

    Quote Originally Posted by OKCTalker View Post
    Can you provide a source for that?
    http://bit.ly/1bVVqKy

    http://www.accountingtoday.com/news/...s-67237-1.html

  6. #106

    Default Re: Oklahoma business energy news

    Quote Originally Posted by Bellaboo View Post
    Internet sales are the biggest culprit of lost taxes than from any other source.......
    Im all for making internet purchases taxed, as buyers are already required to pay it, its just too easy not to. And the US Senate is for it too and are making attempts to make it law (the House on the other hand might tank it). But to make up the $300million that we lost last year to the horizontal drilling tax reduction, that would mean Oklahomans are spending more than $3.75billion dollars on internet purchases from places that arent already located in the state. Thats based on an 8% sales tax. Im going to guess Okies arent spending that much at amazon.com in a year.

  7. #107

    Default Re: Oklahoma business energy news

    Quote Originally Posted by onthestrip View Post
    Im all for making internet purchases taxed, as buyers are already required to pay it, its just too easy not to. And the US Senate is for it too and are making attempts to make it law (the House on the other hand might tank it). But to make up the $300million that we lost last year to the horizontal drilling tax reduction, that would mean Oklahomans are spending more than $3.75billion dollars on internet purchases from places that arent already located in the state. Thats based on an 8% sales tax. Im going to guess Okies arent spending that much at amazon.com in a year.
    He said "biggest culprit," not "the" or "only" culprit.

  8. #108

    Default Re: Oklahoma business energy news

    Quote Originally Posted by Of Sound Mind View Post
    He said "biggest culprit," not "the" or "only" culprit.
    I was pointing out that it wasn't the biggest culprit. The biggest loss isnt from not collecting internet sales taxes, its from the horizontal drilling tax reduction.

  9. #109

    Default Re: Oklahoma business energy news

    COLUMN-Oklahoma is next destination for shale revolution: Kemp - Yahoo Finance
    LONDON, Oct 18 (Reuters) -

    Oklahoma is emerging as the next big shale oil play, with production growing faster than in any other U.S. state apart from Texas and North Dakota.

    Thanks in big part to shale, the state's oil output in May, June and July hit the highest level since January 1990.
    Oil output has doubled since the start of 2010, from 160,000 to 320,000 barrels per day, and is showing the sort of exponential growth that characterised other big shale plays
    .

    Like Texas and North Dakota, Oklahoma is an old, established oil- and gas-producing state. The state has produced more than 15 billion barrels of oil since 1900, according to the Oklahoma Tax Commission and the Oklahoma Corporation Commission (OCC), which regulates the industry.

    In 2009, the state's landscape was punctured by more than 32,000 oil wells, almost 9 percent of the U.S. total. Only Texas (with 142,000 wells) and California (with 49,000) had more.

    Conventional crude output has been declining continuously since the mid-1980s owing to falling pressure in the oilfields and lack of investment.
    But since 2005, output has started to rise again, as investment, drilling and workovers have risen in response to increased oil prices.
    More recently, the increase in output has accelerated, as exploration and production firms begin to drill into the enormous Woodford shale formation that lies underneath large parts of the state.

    According to the U.S. Energy Information Administration (EIA), there are three highly prospective shale plays in the state: the Ardmore, Arkoma and Cana basins, all of which contain parts of the Woodford formation.

    Baker Hughes rig counts show there were 32 rigs drilling for oil in the Ardmore and Cana basins in mid-October, up from just six at the same point in 2011.

    Continental Resources, the leading shale oil producer in the Williston Basin beneath North Dakota and Montana, revealed last year its next big target for development is an area southeast of the Cana play it has dubbed the South Central Oklahoma Oil Province (SCOOP).

    SCOOP is a world-class resource, according to the company, with an oil-rich shale formation up to 400 feet (122 metres) thick. Continental estimates SCOOP contains up to 70 billion barrels of oil in place.

    While the company has an obvious interest in talking up prospective production from the acres it has already leased, its optimistic estimates for North Dakota's Bakken have proved more accurate than many more conservative forecasters.

    Continental has already leased 277,000 acres (112,000 hectares) in the area, either on its own or in combination with other developers, according to a presentation it made available to investors in October and available on the company's website.
    The company has participated in the drilling and completion of 93 wells, and is busy delineating the oil-, gas- and liquids-rich parts ("fairways") of the play, as well as identifying the most productive areas.

    The company's share of output from those wells hit 17,550 barrels of oil equivalent per day in the second quarter of 2013, up more than 400 percent compared with a year earlier.

    State oil output is now rising rapidly, up by more than 50,000 barrels per day since the start of the year, though the increase stalled in June and July.
    Continental has one of the most successful track records in the shale business.

    The company has pioneered a highly efficient, assembly-line approach to drilling and fracturing in the Bakken formation that cut costs and raised production quickly. It claims to be able to achieve rates of return of over 20 percent on a typical shale well with prices as low as $60 per barrel.
    If Continental can bring the same approach to SCOOP, the state's oil and liquids output is set to rise rapidly.

    Oklahoma has other attractive petroleum-rich tight oil formations, such as the Mississippian, which have already attracted strong interest from other specialist shale production companies, notably Devon Energy, the pioneer of shale production in Texas.

    The state is ideally located for a big increase in production. Unlike remote North Dakota, Oklahoma is already crisscrossed by an extensive network of oil-gathering pipelines and hosts the country's major crude storage and trading hub at Cushing, with 80 million barrels of storage capacity and extensive links to refineries in the Midwest and Gulf Coast.

  10. #110

    Default Re: Oklahoma business energy news

    Would be nice if Oklahoma wouldnt have decreased the gross production tax and the state could ride this wave too and be able to invest the added revenues in education, infrastructure, etc. As it is now, oil biz is booming yet state revenues are flat, and could end up down.

  11. #111

    Default Re: Oklahoma business energy news

    Quote Originally Posted by onthestrip View Post
    Would be nice if Oklahoma wouldnt have decreased the gross production tax and the state could ride this wave too and be able to invest the added revenues in education, infrastructure, etc. As it is now, oil biz is booming yet state revenues are flat, and could end up down.
    The Oklhoma economy has been helped by the incentives for horizontal drilling. Without them we would likely have negative revenues... Without the incentives most horizontal rigs and their thousand of high tax paying jobs would have packed up and moved to other states.... Without the incentives the growth in taxes collected from royalty owners would have been many times less.

    But it's now time to end the special incentives for horizontal drilling IMHO.

    With this same money Oklahoma should establish a state oil and NG endowment fund.
    I would like to see most of it ear marked for special projects of higher education and used much the same way as Texas has used its Permanent University Fund and invested similarly.

    In this way it benefits Oklahoma’s for generations after the oil & gas is gone.

  12. #112

    Default Re: Oklahoma business energy news

    Quote Originally Posted by ou48A View Post
    The Oklhoma economy has been helped by the incentives for horizontal drilling. Without them we would likely have negative revenues... Without the incentives most horizontal rigs and their thousand of high tax paying jobs would have packed up and moved to other states.... Without the incentives the growth in taxes collected from royalty owners would have been many times less.

    But it's now time to end the special incentives for horizontal drilling IMHO. With this same money Oklahoma should establish a state oil and NG endowment fund.
    I would like to see most of it ear marked for special projects of higher education and used much the same way as Texas has used its Permanent University Fund and invested similarly.

    In this way it benefits Oklahoma’s for generations after the oil & gas is gone.
    Let's wait on this another year, Devon is drilling 8 horizontal wells on our minerals. Just got a copy of the spacing request to the OCC 2 weeks ago.

  13. #113

    Default Re: Oklahoma business energy news

    Quote Originally Posted by Bellaboo View Post
    Let's wait on this another year, Devon is drilling 8 horizontal wells on our minerals. Just got a copy of the spacing request to the OCC 2 weeks ago.
    Good for you.
    I hope they are all gushers.
    This could change your life.

  14. #114

    Default Re: Oklahoma business energy news

    Quote Originally Posted by ou48A View Post
    Good for you.
    I hope they are all gushers.
    This could change your life.
    In western Payne County. I-35 splits one of our sections. 18-18R-1W. Fingers Crossed. No matter what happens, we still roll out of bed in the mornings and go to work.

  15. #115

    Default Re: Oklahoma business energy news

    Not sure if people realize this, but the incentive is a tax break on horizontal drilling production for 48 months only. It reverts back to the standard taxation at that point. It helps with the expensive horizontal drilling techniques. Not all horizontal wells are gushers.

  16. #116

    Default Re: Oklahoma business energy news

    Quote Originally Posted by Bellaboo View Post
    Not sure if people realize this, but the incentive is a tax break on horizontal drilling production for 48 months only. It reverts back to the standard taxation at that point. It helps with the expensive horizontal drilling techniques. Not all horizontal wells are gushers.
    ...but almost all the payout from a successful horizontal well is in the first 36 months (sometimes in the first 6). Horizontal wells have a hell of a steep decline. They still make a profit, it is just that that profit is front-loaded. So by giving a tax break for 48 months you are effectively not taxing that well at all.

  17. #117

    Default Re: Oklahoma business energy news

    Quote Originally Posted by DoctorTaco View Post
    ...but almost all the payout from a successful horizontal well is in the first 36 months (sometimes in the first 6). Horizontal wells have a hell of a steep decline. They still make a profit, it is just that that profit is front-loaded. So by giving a tax break for 48 months you are effectively not taxing that well at all.
    This could probably be it's own thread - but I don't think the verdict is out yet - there are huge declines after the max month of production, then in this study by the Texas RRC they find an interesting uptick - not enough data yet for long term analysis. But it may be more promissing than we know.

    From an article on the Eagle Ford -

    Following is a summary of 7 full months of production from what I call a "max month" to latest numbers (December 2012). All info is based on Tx RRC filings for production (not disposition).

    Note that there were two months of production prior to my "max month" but volumes were lower / I am assuming that gathering systems and other issues were getting worked out during this period so I omitted these two months from my analysis.

    Note I am not addressing royalty volumes which include gas shrinkage, NGL's and other variations attriibuted to disposition vs. actual production.

    Note that the "per cent change" reflects differences from month to month - not from initial max rate month.



    For Gas Production
    ■Max Month (120,300 MCF)
    ■Next month - down 5.3% from previous month
    ■Next month - down 12%
    ■Next month - down 21.9%
    ■Next month - down 12.7%
    ■Next month - down 23.2%
    ■Next month - up 1% from previous month



    For Condensate Production
    ■Max Month (38,809 BC)
    ■Next month - down 8.1% from previous month
    ■Next month - down 16.2%
    ■Next month - down 19.2%
    ■Next month - down 16.5%
    ■Next month - down 22%
    ■Next month - up 0.9% from previous month



    This works out to about 56% decline in both products over first 7 months of production. But the uptick in both products in most recent month is very interesting.

    So in the 9th month of production, it not only evened out but had a slight uptick.

  18. #118

    Default Re: Oklahoma business energy news

    Hopefully this is a sign that SA will help hold a floor crude price and keep prices from going to low, which would be good for our states economy.

    Saudi Arabia throttles back from record high oil output - Yahoo Finance
    OPEC heavyweight Saudi Arabia has cut back oil output that had held at record rates of around 10 million barrels a day for three months running to help offset a plunge in output from fellow OPEC member Libya.
    The world's top oil exporter turned down the taps to 9.75 million barrels per day (bpd) in October - versus 10.1 million bpd the previous month,

  19. #119

    Default Re: Oklahoma business energy news

    OKC's Equal Energy purchased by Tulsa's PetroFLow.

    Tulsa-based PetroFlow to buy OKC's Equal Energy | News OK

  20. #120

    Default Re: Oklahoma business energy news

    RIGZONE - TransCanada Readies For Gulf Coast Pipeline Start


    CALGARY, Alberta, Dec 17 (Reuters) - TransCanada Corp expects its new 700,000-barrel-per-day Gulf Coast oil pipeline to begin service on Jan. 22, Chief Executive Russ Girling said in an interview on Tuesday.

    The company is currently filling the Cushing, Oklahoma, to Port Arthur, Texas, pipeline with the 3 million barrels of crude oil needed before it can be placed into normal operation. Initial testing is showing no issues with the line and shippers were told of the planned in-service date on Monday. "We need to make sure that we continue to test things as we load the pipeline with oil," Girling said. "Based on our current estimates, January 22 is what we've told our shippers for start-up."

    The Gulf Coast line is the southern leg of TransCanada's controversial Keystone XL project, which, more than five years after the initial filing, is still awaiting a final decision from the Obama Administration. The start-up of the Gulf Coast project will give Canada's oil sands producers their first large-scale access to the refining hub on Texas' Gulf Coast.

    It could also help alleviate steep discounts on Canadian crude, which dropped to more than $40 per barrel below the West Texas Intermediate benchmark last month. Girling said much of the oil on the line will come from shippers on the company's existing 590,000 bpd Keystone pipeline, which takes crude from Hardisty in central Alberta to Cushing. 12 -

  21. #121

    Default Re: Oklahoma business energy news

    This was picked up on npr this morning, mentions CHK and SD.

    there's an audio link or text!

    -----
    Hazy Guidance Over Fracking Water Lines Confounds Commissioners and Cowboys

    Hazy Guidance Over Fracking Water Lines Confounds Commissioners and Cowboys | StateImpact Oklahoma

  22. #122

    Default Re: Oklahoma business energy news

    Quote Originally Posted by blangtang View Post
    This was picked up on npr this morning, mentions CHK and SD.

    there's an audio link or text!

    -----
    Hazy Guidance Over Fracking Water Lines Confounds Commissioners and Cowboys

    Hazy Guidance Over Fracking Water Lines Confounds Commissioners and Cowboys | StateImpact Oklahoma
    I was dealing with some of these issues, it's interesting.

  23. #123

    Default Re: Oklahoma business energy news

    I was up at our farms in western Payne county a month or so back, where Devon is doing a lot of drilling. Their lines were aluminum and they snaked them all over, but where they could they would run through culverts under the roads. Where there was an entry gate into a field, they had a small metal temporary bridge over them. Didn't seem to impede driving to me.

  24. #124

    Default Re: Oklahoma business energy news

    Well if it matters to big business or special interests, you can count of Speaker TW Shannon being for it. He calls for extending permanently a tax reduction for horizontal drilling, even though its costing our state money and oil companies dont need it to drill. So much for being able to invest in and improve our state during these periods of "economic growth." Even our state treasurer knows this cant stay the way it is.

    Make drilling tax break permanent, House Speaker T.W. Shannon says - Tulsa World: Government

  25. #125

    Default Re: Oklahoma business energy news

    This guy actually drills wells and he is calling for a end to the horizontal drilling tax reduction.

    John A. Brock: It?s time to give the taxpayers a break - Tulsa World: Readers Forum

Thread Information

Users Browsing this Thread

There are currently 24 users browsing this thread. (0 members and 24 guests)

Similar Threads

  1. Oklahoma Business Climate
    By ljbab728 in forum Current Events & Open Topic
    Replies: 4
    Last Post: 11-02-2011, 12:51 AM
  2. Devon Energy in [on] the News/Media
    By cameron_405 in forum Current Events & Open Topic
    Replies: 3
    Last Post: 04-12-2011, 08:10 AM
  3. Oklahoma Institute of Energy Science & Research
    By G.Walker in forum General Civic Issues
    Replies: 4
    Last Post: 01-13-2011, 09:24 PM
  4. Why locate an energy company in Oklahoma?
    By Midtowner in forum Businesses & Employers
    Replies: 11
    Last Post: 12-15-2006, 12:43 PM
  5. Dell among top business news for 2004
    By mranderson in forum General Civic Issues
    Replies: 4
    Last Post: 12-31-2004, 09:57 AM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Single Sign On provided by vBSSO