OK STABLE tax deduction enacted
OKLAHOMA CITY â Oklahomans who save and invest using OK STABLE, the state-sponsored ABLE Act program for people with disabilities, will be able to deduct contributions from their state taxes, State Treasurer Randy McDaniel announced.
The tax deduction is identical to the one offered for contributions to the Oklahoma 529 College Savings Plan and will be in effect starting with 2021 income tax filing.
The new law allows couples to deduct up to $20,000 in contributions per year from their state taxable income. Single taxpayers can deduct contributions of up to $10,000 per year.
Under OK STABLE, Oklahomans with disabilities can save and invest money without jeopardizing need-based benefit programs such as Medicaid and Supplemental Security Income. Funds in an account can be used for qualified expenses.
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Laredo Petroleum Announces Transformative Transactions
Acquisition of High-Margin, Oil-Weighted Howard County Leasehold
Divestiture of Gas-Weighted Reserves in Reagan/Glasscock Counties
TULSA, OK, May 09, 2021 (GLOBE NEWSWIRE) Laredo Petroleum, Inc. (NYSE: LPI) (“Laredo” or the “Company”) today announced the signing of a purchase and sale agreement to acquire the assets of Sabalo Energy, LLC (“Sabalo”), a portfolio company of EnCap Investments L.P. (“EnCap”), and a non-operating partner for approximately $715 million, subject to customary closing price adjustments, comprised of $625 million in cash and approximately 2.5 million shares of Laredo common equity. Additionally, the Company announced the sale of 37.5% of its operated proved developed producing (“PDP”) reserves in its legacy leasehold in Reagan and Glasscock counties (“Legacy”) to an affiliate of Sixth Street Partners, LLC (“Sixth Street”) for proceeds of $405 million and additional potentia
Laredo to buy Sabolo Energy assets for $715m pehub.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pehub.com Daily Mail and Mail on Sunday newspapers.
TULSA â Laredo Petroleum Inc. announced its first-quarter financial and operating results. Highlights included:
⢠Generated $71 million of cash flows from operating activities and $22 million of Free Cash Flow.
⢠Sold 723,579 shares at an average price of $38.75 for net proceeds of $26.9 million through the company s at-the-market equity program.
⢠Reduced net debt by $30 million during the quarter.
⢠Produced an average of 24,261 barrels of oil per day, an increase of 11% from the fourth quarter.
⢠Produced an average of 78,989 barrels of oil equivalent per day, a decrease of 4% from the fourth quarter.
⢠Reduced drilling, completions and equipment costs for a 10,000-foot well to $525 per foot and held costs incurred during the first quarter to $70 million.