An Oklahoma tax break for horizontal wells enacted in 2010 is depriving the Sooner State of revenue that could beef up its rainy day fund and should be reconsidered, the state’s secretary of finance and revenue said.
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The North American Electric Reliability Corporation (NERC) last Wednesday released an assessment in which it raised serious concerns about the ability of an increasingly natural gas-dependent bulk power system to maintain reliability when the capacity to deliver gas supplies to generators is constrained.
The North American Electric Reliability Corporation (NERC) Wednesday released a follow-up assessment in which it raised concerns about the ability of an increasingly natural gas-dependent bulk power system to maintain reliability when the capacity to deliver gas supplies to generators is constrained.
ProPublica, a nonprofit corporation that pursues investigative journalism on matters of public interest, is criticizing former Pennsylvania Gov. Ed Rendell and the New York Daily News for failing to disclose Rendell’s ties to natural gas-related businesses in a pro-industry editorial.
Linn Energy LLC and LinnCo LLC are acquiring Berry Petroleum Co. for $4.3 billion, including debt, in a transaction said to be the first-ever acquisition of a C-corporation by an upstream limited liability company (LLC) or master limited partnership (MLP).
The Arizona Corporation Commission (ACC) added two newly elected members and one re-elected member Monday. Bob Stump, the recently re-elected member, was voted by his colleagues as the ACC’s new chairman. He is joined by new member Bob Burns and Susan Bitter Smith, along with returning members, Gary Pierce and Brenda Burns. Pierce just completed two years as the regulatory panel’s chair. Stump serves on the board of the National Association of Regulatory Utility Commissioners. On Friday, the ACC also named a new executive director, Jodi Jerich, who comes to the commission from a three-year stint as head of the Arizona Residential Utility Consumer Office. Jerich formerly served as policy advisor to ACC commissioner Mike Gleason.
ExxonMobil Corp. shareholders for the third year in a row turned back a shareholder proposal which would require the corporation to prepare a report on the risks associated with hydraulic fracturing (fracking). Chevron Corp. shareholders defeated a similar measure at their annual meeting, with fewer voting in favor than a year ago.
The three-member Oklahoma Corporation Commission (OCC) on Friday gave public utility status for a regional $3.5 billion natural gas and wind power-related transmission project, calling it a means of making the oil/gas-dominated state a “literal powerhouse” for other states. Oklahoma’s action is just a very preliminary step for a project that has yet to outline its multi-state route eastward to Tennessee.