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.
US oil, gas rigs jump 10 to 555 on week, as optimistic Q1 season wraps
The US oil and gas rig count jumped 10 on the week to 555, rig data provider Enverus said May 13, as upstream operators wrapped up first-quarter calls on an optimistic note because of higher oil prices and an improving outlook for the rest of the year despite an uneven pandemic recovery.
Two large Texas plays rose five rigs each the week ended May 12, for totals of 241 in the Permian Basin of West Texas/New Mexico and 44 in the Eagle Ford Shale of South Texas.
In addition, rigs in the Oklahoma SCOOP-STACK play added three to a total of 21. Elsewhere, both the Bakken Shale of North Dakota and Montana and the DJ Basin, mostly in Colorado, rose one rig each, to total 17 and 14, respectively.
Houston The US oil and gas rig count jumped 10 on the week to 555, rig data provider Enverus said May 13, as upstream operators wrapped up first-quarter calls on an optimistic note because of higher oil prices and an improving outlook for the rest of the year despite an uneven pandemic recovery.
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Two large Texas plays rose five rigs each the week ended May 12, for totals of 241 in the Permian Basin of West Texas/New Mexico and 44 in the Eagle Ford Shale of South Texas.
In addition, rigs in the Oklahoma SCOOP-STACK play added three to a total of 21. Elsewhere, both the Bakken Shale of North Dakota and Montana and the DJ Basin, mostly in Colorado, rose one rig each, to total 17 and 14, respectively.
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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