Currently the most significant oil & gas bills are the Oklahoma Energy Jobs Act (SB284) and SB669. Both of these bills had their enacting clauses stricken, which ensures that they will go to conference committee where leadership can hammer out their details. Mineral owners and operators, both large and small, would be well advised to closely examine both bills.
Big Wells Boost Company Performance
Adam Wilmoth, Published: April 7, 2017
Improved drilling and completion processes combined with favorable geology have led oil and natural gas companies to bring online a series of massive wells in central Oklahoma's STACK and SCOOP plays.
Big wells drive spending decisions for the well operator and for operators throughout the area. They also drive up interest in nearby acreage and sales prices throughout the field.
The deadline for bills to pass out of committee has now passed. Many bills did not make the cut this session. However, there are still many significant bills that are still active.
Oil CEOs Lobby for Longer Laterals
Adam Wilmoth Published: March 8, 2017
Proposed legislation that would allow oil companies to drill longer horizontal wells could lead to more drilling, increased production and boosted tax revenue, executives from some of the most active oil and natural gas companies in Oklahoma said Tuesday.
Wall Street bets on oil comeback
Posted by Bloomberg February 09, 2017
Wall Street is throwing the most money at U.S. energy companies since at least 2000 amid growing confidence that the industry is emerging from the worst downturn in a generation.
Some members have inquired about the Governor’s proposed sales tax expansion. NewsOK has a good article discussing the proposal (“Fallin’s tax plan would net cities, counties $769M,” NewsOK.com). The article includes a spreadsheet showing the 164 new services that would be taxed under the proposal, including many services that are integral to oil & gas development. Land services are not explicitly listed, but it is unclear at this time if land services would fall under one of the broader categories of services listed.
From Closed Doors to Open Arms, Oklahoma Oil Industry Optimistic About Business Under President Trump
State Impact Oklahoma Joe Wertz December 1, 2016
From board rooms to drilling rigs, much of the U.S. fossil fuel industry has been counting down the days until President Barack Obama turns over the keys of the White House. Donald Trump doesn’t officially take the wheel of the nation’s energy policy for a couple of months, but Oklahoma’s oil and gas industry says its prospects have already improved under the president-elect.
IEA: Oil market’s rebalancing could come faster if OPEC sticks to target
By Oil & Gas Journal Editors
“The waiting game is over,” the International Energy Agency said in the October issue of its Oil Market Report. This is in regard to the fact that the Organization of Petroleum Exporting Countries has effectively abandoned its free-market policy set nearly 2 years ago, setting a new supply target of between 32.5-33 million b/d.
Baker Hughes CEO: Sustainable Recovery Requires Higher Oil Prices
Velda Addison, Hart Energy Friday, September 9, 2016
Despite slowing production in the U.S., where shale producers have restrained themselves from unleashing their inventories of drilled but uncompleted wells (DUCs), signs of the oil market rebalancing remain elusive.
Hard times can't dim hopes for oil and gas as NAPE opens
By David Hunn Houston Chronicle
August 10, 2016
NAPE, the nation's premier conference for buying and selling oil and gas land, opened Wednesday at the downtown convention center, its attendees hoping to cut deals despite two years of hard times.