COVID-19 closures, low gas prices put sales tax revenues at risk in Oklahoma

“OEPA Chairman, Dewey Bartlett Jr. with Keener Oil said local governments in Green Country will be the first to feel the effects of gas losing value.”

The impact of shutting down bars and restaurants is being felt in Tulsa as the city loses opportunities to collect sales tax revenue.

Tulsa’s Director of Finance James Wagner said those businesses make up around 13 percent of the city’s sales tax collection.

Which is about $2 million a month.

A big hit with Oklahoma being one of the few states that relies on sales taxes for operations.

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Coronavirus and the Corporation Commission

Effective Monday, March 23, 2020, the Oklahoma Corporation Commission (OCC) offices statewide will be closed to the public until further notice. This includes the main office in the Jim Thorpe Building in Oklahoma City, the Regional Office in Tulsa and the District Field Offices around the State. A majority of OCC employees will be working […]

LEGISLATIVE UPDATE – 3/20/2020

At this time the Oklahoma State Capitol is shut down due to COVID-19 and is undergoing an extensive, deep cleaning at this time. House and Senate staff are working remotely from their homes. A timetable has not yet been established for when they will return to the Capitol. When activity resumes, our understanding is that […]

Oklahoma producers on shaky ground as oil price war hits

Liz Hampton | WTVBAM

Oklahoma’s oilfields face some of the highest costs in the U.S. shale industry, making the state a likely first victim of the crash that has seen crude fall to its lowest price in 18 years.

Oil companies in Oklahoma were laying off workers and slowing activity even before the spread of the coronavirus and the price war between Saudi Arabia and Russia. Now, with oil prices at $25 a barrel, many may be forced to shut completely.

It costs around $48.19 a barrel to produce oil in Oklahoma’s SCOOP and STACK shale plays, the highest in the United States, according to a Deutsche Bank analysis. That compares with about $46.54 in North Dakota’s Bakken and around $40 in the Permian.

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Vertical well group names new president will Tulsa E&P trims its annual losses

The Oklahoma Energy Producers Alliance, an organization that represents owners and operators of vertical wells and mineral rights owners across the state, announced Thursday it had elected David Little of Ardmore to serve as its president.

Proration Formula for Unallocated Gas Wells

The Corporation Commission recently adjusted the maximum permitted rates of production for unallocated gas wells. Currently the permitted rate of production for unallocated gas wells is 65% of the calculated absolute open flow, or 2,000 mcf/d, whichever is greater. By Order No. 709553 the Corporation Commission, for the period beginning April 1, 2020 and ending […]

2020 Bills OEPA Supports & Opposes Update

SB1615 by Darcy Jech creates a task force to study and make recommendations regarding the purge in Kingfisher Co. As a result of OEPA efforts, the bill was amended to include “two representatives from different relevant trade associations operating in this state”. The bill passed the Senate with the title on and it is headed to […]

Oil & Gas Producer Group Names Ardmore Independent New Leader

The Oklahoma Energy Producers Alliance (OEPA) elected David Little of Ardmore to serve as president at its March board meeting. Little is the president of Kingery Energy , a small-business independent producer with operations across Oklahoma.

Survival Strategies in Tough Times

OCC 2nd Rulemaking Technical Conference

The first of 2 technical conferences on the Oklahoma Corporation Commission’s proposed rule changes occurred Tuesday. Almost a dozen OEPA members were present! OEPA was well represented among the speakers addressing the Commissioners.