The Daily Oklahoman from Oklahoma City, Oklahoma • 19

i ii ra ra m.m mmmmm Mickey's world Walt Disney Co. opened Shanghai Disneyland, its first theme park in mainland China, with a lavish celebration featuring Communist Party leaders, a children's choir and several characters. mill JBBikjsa BUSINESS FRIDAY, JUNE 17, 2016 NEWS0K.COM 0KLAH0MAN.COM Oklahoma oil production stays stable, but tax revenues for state dwindle tion of agency budget cuts, onetime funds and by scaling back an incentive for economically at-risk oil wells. But they left several other business incentives in place, including a zero-emissions tax credit for wind production. Oklahoma Finance Secretary Preston Doerflinger said the SEE OIL, PAGE 6C eral revenue fund are expected to end the fiscal year at their lowest level in decades.

For the first 11 months of the fiscal year, gross production taxes from oil sent to the general revenue fund totaled $3.5 million, the Office of Management and Enterprise Services said this week. That compared to $126 million in the first 11 months of fiscal year 2015. The state's fiscal year begins July 1. Since summer 2014, oil prices have essentially been cut in half, going as low as $26 a barrel earlier this year. A recovery since then has put prices back close to $50.

Despite the lower oil prices, Oklahoma companies have continued to pump oil. Production rose to 14.67 million barrels in March20i5 andhas averaged 12.8 million barrels a month since then, according to the Energy Information Administration. Monthly production averaged 9.4 million barrels in Oklahoma from July 2012 to July 2014, the two years before oil prices began falling. Oklahoma lawmakers managed to close a $1.3 billion budget shortfall for the upcoming fiscal year through a combina BY PAUL MONIES Business Writer pmoniesoklahoman.com The oil keeps flowing in Oklahoma even as prices remain low, but new tax rates for oil also are putting a dent in the state's budget. The latest state revenue figures show the amount of taxes from oil sent to the state's gen Britton was once its own little town FT a Brianna 1 Bailey bbailey(3 oklahoman.com Owner Andrew Hwang hopes to revive the old Ritz Theater at 912 Britton.

He has put a new roof on it and believes it would be a good location for a craft brewery, ephoto A W't BY PAUL HELLSTERN, THE OKLAHOMAN When local businessman Andrew Hwang purchased the old Ritz Theater building on Britton Road in March, the roof leaked and the floor was covered in dead pigeon carcasses. But Hwang sees potential in the neglected and long-vacant 1940s movie house, as well as this part of Britton Road between Western Avenue and Broadway Extension. "Old Britton is kind of a cool place geographically, where it's located south of Edmond and north of Nichols Hills," Hwang said. "We feel there's a lot of potential, but there's a lot of work still to be done." The area used to be an incorporated town, known as Britton, with its own post office, police and volunteer fire department. The town was founded in 1889 and named after Alexander Britton, an attorney for the Santa Fe Railway.

Britton still maintains its small-town Main Street vibe with rows of early 20th-century storefronts. Apart from a few vacancies, most of the storefronts are filled with small, local businesses, ranging from a golf repair shop to a Go Code To see a video reated to the ZSEU community of Britton, go to Oklahoman.com and type in Don Rice ooks at abums at Alley Records in Oklahoma the GO COde. Qty PH0T0 BY STEVE GOOCH, THE OKLAHOMAN Wheeler has been a longtime believer in Britton Road. His record shop at 918 12 Britton is filled with crates of old vinyl and rock 'n' roll memorabilia. His wife, an artist, has a studio in the front of the building.

The entrance to the record store, where his band also practices, is on the back of the building off the alley. Wheeler said even if the Wheeler said he was encouraged that the Ritz theater sold recently. He'd like to see more live music venues in the area that could turn it into another entertainment district. "That could be the main hinge of stuff happening here," he said. Bar owner Ricco Askew opened Foxy Nights in a SEE BRITTON, PAGE 4C and believes it would be a good location for a craft brewery.

The area needs an attraction to lure shoppers, he said. "It's a cool little town, except there's really no reason to come here," Hwang said. "There's no real thriving retail and this has the opportunity to be that." Alley Records owner Ronnie Jay area doesn't become Oklahoma City's next hip business district, it's OK with him. He's happy to have his off-the beaten-path record store that advertises only by word of mouth "It's not going to bother me if it doesn't happen, but it would be great if it did," Wheeler said. "I'm saying, 'go for it, man.

I hope it happens for tattoo parlor. Britton voters approved, by just 30 votes, a proposal for Oklahoma City to annex the town in 1950, according to The Oklahoman Archives. Hwang has put a new roof on the old Ritz Theater Float operators have mixed reaction to changes in licensing gone unclaimed. There are currently 663 unclaimed licenses, which are being offered for temporary, unrestricted use by the Grand River Dam Authority. The unrestricted licenses would allow Spears to float more people at his resort, which falls into Zone 2 of the river.

All of the unclaimed licenses are currently designated for zones one and three. However, there is fear the unrestricted licenses could increase congestion on the river. When the quotas were set in the 1980s, it was mostly canoes on the river, SEE RIVER, PAGE 4C ity begins oversight of the river July 1 as the Oklahoma Scenic River Commission is consolidated into it, and the agency is lifting geographic restrictions on these licenses. Currently, the licenses are restricted by zone, with only a certain number of permits sold for each of the three sections of the river. Spears has been trying to change that policy for a long time "I'm the one who had been trying for years to do away with the zones, do away with the numbers, because they have nothing to do with congestion or carrying capacity," Spears said.

Ed Fite, administrator at the Oklahoma Scenic River Commission, said the quotas for each section have remained basically unchanged since they were implemented in the 1980s. He said the agency had planned to conduct a study looking at carrying capacity on the river last year but couldn't afford it. "We've been dying a death of a thousand cuts," Fite said. The commission can issue up to 3,900 licenses in a given year, with each of the three zones getting a set number. However, following a fee hike before the 2009 rafting season, licenses have BY JESSE POUND Business Writer TAHLEQUAH One Illinois River float operator may finally have his way when new licensing rules go into effect next month, allowing him to serve more customers after years of fighting for more licenses.

Jack Spears, co-owner of Arrowhead Resort in Tahlequah, said he is applying for 70 temporary commercial float licenses that are being offered by the Grand River Dam Authority. The author Customer service Online: oklahoman. comaccount CONTACT The Oklahoman Business MC Department P.O. Box 25125 Oklahoma City, OK 73125 Don Mecoy, Business Editor (405) 475-3942 dmecoyoklahoman.com GAS PRICES AAA's average for regular unleaded: Nation State Nation State Thursday $2,359 $2,135 Year ago $2,803 $2,598 Week ago $2,362 $2,147 Record $4,114 $3,955 Month ago $2,222 $2,003 (set) 7-17-08 7-16-08 MARKETS ADOW JONES 92.93, 17,733.10 NASDAQ 9.99,4,844.92 VOIL CATTLE $1.80, $46.21 $0,225, $117,050 NATURAL GAS VWHEAT $0.02, $2.58 $0.5 34, $4.93 34.