economic incentives

StateImpact Oklahoma
12:26 pm
Thu June 5, 2014

Legal Challenge To New Drilling Incentive Could Raise Big Constitutional Questions

A legal challenge to a recently signed bill authored by Republican House Speaker Jeff Hickman could have wide-ranging effects.
Joe Wertz StateImpact Oklahoma

A controversial bill setting the effective tax rate on new oil and gas wells was one of the capstones of the 2014 legislative session.

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Gross Production Tax
2:45 pm
Fri May 30, 2014

VIDEO: StateImpact Oklahoma's Joe Wertz On Oil And Gas Incentives

StateImpact Oklahoma reporter Joe Wertz appeared on OETA-The ​Oklahoma Network's Oklahoma News Report last week to discuss a possible constitutional challenge to the controversial tax incentive for oil and gas wells, which Gov. Mary Fallin signed this week.

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StateImpact Oklahoma
2:53 pm
Mon May 5, 2014

Three Of Oklahoma’s Largest Oil Companies’ Plan For How The State Should Tax Them

Credit neillharmer / Flickr Creative Commons

Executives at Chesapeake Energy, Continental Resources and Devon Energy have proposed a plan for Oklahoma’s taxes on oil and natural gas production.

The proposal comes as legislators are debating state oil and gas taxes, which include an incentive for horizontal drilling that expires next year. The Oklahoman‘sAdam Wilmoth reports:

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StateImpact Oklahoma
7:34 am
Thu March 27, 2014

Why One Oklahoma Oil Executive Doesn’t Think Oil And Gas Tax Cuts Are Needed

Don Millican, the Chief Financial Officer of Kaiser-Francis Oil Company.
Credit Joe Wertz / StateImpact Oklahoma

The Kaiser-Francis Oil Company has a lot in common with other storied Oklahoma energy empires. The company has by-the-bootstrap entrepreneurial origins, it’s been battered by boom and bust, and it’s helmed by a billionaire CEO who has weathered controversy and been showered with praise.

But the Tulsa-based exploration and production company is unique in one surprising way: It isn’t pushing for oil and gas tax cuts.

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StateImpact Oklahoma
2:31 pm
Mon January 6, 2014

Oklahoma House Speaker Wants To Make Horizontal Drilling Tax Break Permanent

A rig hand on a Triad Energy horizontal drilling operation near Alva, Okla. Company CEO Mike McDonald says he likely wouldn't have drilled the well with out a tax break Oklahoma's House Speaker has proposed making permanent.
Credit Joe Wertz / StateImpact Oklahoma

Oklahoma House Speaker T.W. Shannon will author legislation to make permanent an oil and gas industry tax break for horizontal drilling.

The incentive lowers gross production taxes from 7 percent to 1 percent for the first 48 months of production, and was installed in the ’90s to encourage the then-experimental type of drilling. Now days, most oil and gas wells in Oklahoma are horizontally drilled, and critics say the incentives are unnecessary.

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