energy

Devon Tower in downtown Oklahoma City.
Brian Hardzinski / KGOU

Oklahoma oil and gas companies are asking a federal judge to dismiss a lawsuit filed by members of an environmental group that seeks to reduce production waste that could be fueling a spike in earthquakes.

Gov. Mary Fallin speaking at the 2013 Governor's Energy Conference in Tulsa, Okla.
Joe Wertz / StateImpact Oklahoma

Gov. Mary Fallin on Friday signed into law legislation that banks boom-time tax revenues to cushion the state during energy downturns.

The Energy Revenues Stabilization Act was created through House Bill 2763, authored by Rep. John Montgomery, R-Lawton. The measure siphons off above-average tax revenues levied on corporations and oil and gas production and saves it in an account that can be tapped during state funding emergencies.

oil pump jack
Paul Lowry / Flickr

A bill that would bank tax revenues to cushion the state budget during energy industry downturns awaits the governor’s signature.  

Columbus Oil Company owner Darlene Wallace in the field with a "stripper well," which produces two-and-a-half barrels of oil a day.
Joe Wertz / StateImpact Oklahoma

The deadline to fund state government is rapidly approaching, and legislators are struggling to bridge a $1.3 billion budget gap. One idea is to end a tax rebate for unprofitable oil and gas wells, but small oil and gas producers say their safety net shouldn’t be used to plug the state’s budget hole.

Revenue, Rebates

The Oklahoma House of Representatives is in session, and Darlene Wallace is blocking the ornate entrance to the main floor. She’s an obstacle, an oil producer — and she’s clutching a clipboard with the names of lawmakers.

An American Energy Woodford well near Perkins, Okla.
Joe Wertz / StateImpact Oklahoma

The oil boom minted millionaire executives and transformed Oklahoma City into a corporate energy hub, but industry tax breaks and funding cuts kept much of the prosperity from reaching public services, a new Reuters investigation shows.

An artist’s conception of the new convention center in downtown Oklahoma City.
Populous and GSB Inc.

During Tuesday’s Oklahoma City Council meeting, Ward 5’s David Greenwell said it’s hard to get excited about things like the proposed MAPS 3 convention center until you see some of the architectural renderings.

Those were presented this week, and one of the issues with this new convention center seems to be parking.

Ward 2 councilman Ed Shadid, who’s pretty vocal about his concerns when it comes to using public money for large-scale projects, raised the point during the architects’ presentation.

Gov. Mary Fallin
Joe Wertz / StateImpact Oklahoma

Oklahoma Gov. Mary Fallin on Monday signed legislation that clarifies state regulators’ authority to take action on oil and gas operations linked to earthquakes.

The measure, House Bill 3158, authored by Republican House Speaker Jeff Hickman of Fairview, takes effect immediately.

An American Energy Woodford well near Perkins, Okla.
Joe Wertz / StateImpact Oklahoma

As crude prices limp along, a tax rebate for “economically at-risk” wells is poised to grow into one of the state’s biggest tax breaks for business and industry.

Two years ago, when Oklahoma crude was selling for about $100 a barrel, the rebates totaled just $11 million, Oklahoma Watch’s Warren Vieth reports:

Some parts of Oklahoma and Texas now have about the same risk of an earthquake as parts of California, according to the U.S. Geological Survey.

The big difference is, the quakes in Oklahoma and Texas are "induced" — they're caused by oil and gas operations that pump wastewater down into underground wells.

Continental Resources founder and CEO Harold Hamm, second to the left, at the Oklahoma Independent Petroleum Association's office in Oklahoma City.
Joe Wertz / StateImpact Oklahoma

Oklahoma legislators are considering eliminating some tax credits and incentives for businesses to help plug a $1.3 billion budget gap. The state’s fiscal crisis has led some oil and gas leaders to push lawmakers to end incentives for the wind industry.

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