Can I work for two jobs for two different companies for more than 60 hours in my OPT?

Hello, I am an International Graduate student and I am done with my Masters In the Spring 2014. I am presently on my OPT. I got a full time job from a company for 40 hours recently and started working for it. Before that, I have started working in my on campus job (part time) in my university for 21 hours. So I am working in two jobs for a total of 61 hours in my OPT. Can we work like this in OPT. Will it show any effect on my H1B sponsoring afterwards. I checked few sites and it was mentioned that we can work for more than 40 hours in OPT. But few of my friends were raising the doubt again which made me to post here. Please give me a correct answer for this. Also, I need to fill the OPT self report when I get a job in my OPT. Do I need to fill the OPT self report for both?