OKLAHOMA BRIEFS Rig count increases in US, Oklahoma

Paycom employees donate to Goodwill

Employees of Paycom Software Inc. donated 3,983 pounds of gently used clothing to Goodwill Industries of Central Oklahoma this week as part of its National Payroll Week activities, the Oklahoma City-based human resources software company said Friday.

Paycom’s nearly 2-ton gift was raised as employees weighed their donations to earn points for their favorite Paycom payroll week team, with each pound of clothing equaling one point.

The donations consisted of men’s, women’s and children’s clothing, shoes and accessories, as well as small housewares and appliances.

“We are so grateful to the employees at Paycom for stepping up in such a big way for this donation drive,” said Mark Barth, CEO of Goodwill Industries of Central Oklahoma. “Your generosity is paid forward in the community in so many ways. Without the help of incredible community partners like Paycom, we couldn’t fulfill our mission to help people

overcome challenges to employment.”

Oil and natural gas drilling activity increased this week, with the number of active drilling rigs increasing by seven nationwide and by two in Oklahoma.

The country’s rig count increased to 1,055, up 13 percent from 936 one year ago. Rigs drilling for oil increased by seven to 867, while the number of rigs drilling for natural gas was unchanged at 186. The number of working miscellaneous rigs remained at two.

In Oklahoma, this week’s working rig count was 139, up from 130 one year ago. The number of rigs working this week in the Cana Woodford basin — home to Oklahoma’s SCOOP and STACK fields — was unchanged at 66. The field remained the third most active in the country, behind the south Texas Eagle Ford at 78 and the Permian in west Texas and southeast New Mexico at 483. Texas remained the most active drilling state, with 525 operating rigs.

Workers’ comp prices may go down

Oklahoma employers could pay less for workers’ compensation insurance next year after the National Council on Compensation Insurance proposed an overall loss cost decrease of 2.3 percent in a filing that many insurers use to develop prices.

The council credits the reduced loss cost to favorable experience across all industry groups. The new loss costs will go through a review process and are expected to become effective Jan. 1.

The council files loss costs annually with the Oklahoma Insurance Department and files supplemental amendments, when needed, to address significant changes in expectations such as court decisions.

“This is great news for Oklahoma,” Oklahoma Insurance Commissioner John D. Doak said. “When employers pay less for workers’ compensation insurance, they’re able to grow their businesses, hire more workers and expand the economy. Oklahoma’s commitment to a system that’s both efficient and fair has been

tremendously successful on multiple levels.”

Matrix posts Q4 loss of $14.7 million

TULSA — Matrix Service Co. posted a net loss of $14.7 million on revenues of $293 million in the fourth quarter, compared to a loss of $954,000 on revenues of $292 million one year ago, the company said.

The loss includes an impairment charge of $18 million and translates to a loss of $55 cents a share, compared to a loss of 4 cents a share in the year-ago quarter.

Adjusting for one-time items, the company reported a profit of 3 cents a share.

The company finished the quarter with a backlog of $1.22 billion, up 79 percent from one year ago.

For the full year, Matrix reported a net loss of $11.5 million, or 43 cents a share, compared to a loss of $183,000, or less than a penny a share, in 2017. Revenues slipped to $1.1 billion, down from $1.2 billion in the previous year. The company reported a full-year adjusted profit of 12 cents a share.