The Williams Companies, Inc. inched closer to sealing the deal with merger partner, Energy Transfer Equity, L.P on Monday. In a company press release, Williams announced that the election deadline for its stockholders regarding the ETE merger acquisition is June 24, 2016 at 5 p.m. Eastern Daylight Time. If registered Williams stockholders desire to make …
June 6, 2016 archive
Crude Oil Futures Rebound on Monday
Oil futures rebounded on Monday with significant jumps in both West Texas Intermediate and Brent crude, according to Bloomberg MarketWatch. July WTI crude jumped $1.07, or 2.2%, to end trade on the New York Mercantile Exchange at $49.69 a barrel. The settlement marked the greatest level reached since July 21, 2015. August Brent crude, the …
Oil and Gas Tax Collections Rebound Slightly While State’s Overall Collections Hit 6-year Low
Oklahoma State Treasurer Ken Miller announced Monday that the monthly gross receipts reached a six-year low for the month of May while oil and natural gas gross production collections finally rose slightly over the month. But Miller also said all major revenue streams, income, sales, gross production, and motor vehicle taxes are lower than May …
WPX Offers $485 million in Common Stock
Tulsa’s WPX Energy has priced a public offering of 49,500,000 shares of its common stock of nearly $485 million. In making the announcement, the company said it will use the net proceeds from the offering for general corporate purposes which might include an acceleration of drilling and completion activities as well as acreage acquisitions and …
Holly Energy Partners Expands Pipeline Holdings
Dallas-based Holly Energy Partners, L.P. has bought a 50% interest in Cheyenne Pipeline LLC in a $42.5 million cash deal. The remaining 50% interest remains in the hands of Plains All American Pipeline. The 87-mile crude oil pipeline runs from Fort Laramie, Wyoming to Cheyenne, Wyoming and carries 80,000 barrels a day. Holly Energy already …
Devon Energy Announces $1 billion Sale in Assets and Holdings including Some in Oklahoma
Oklahoma City-based Devon Energy announced it’s made a $1 billion sale of some of its in Oklahoma and Texas and a royalty interest in the northern Midland Basin. It did not identify the buyers but said the largest transaction was for reserves in East Texas that sold for $525 million. It also sold its holdings …
Quapaw Chief to Testify on Impact of Unfunded EPA Mandates
Oklahoma’s Quapaw tribal Chief John Berrey will be among five witnesses testifying Tuesday before a Subcommittee of the U.S. Senate Environment and Public Works Committee as it explores unfunded mandates of the Environmental Protection Agency. Chief Berrey will testify before the Subcommittee on Superfund, Waste Management and Regulatory Oversight as it holds a hearing …
Oklahoma Commerce Department Praised for Brownfields Study
A pat on the back from U.S. Senator Jim Inhofe for the Oklahoma Commerce Department and its 2015 study on “The Economic Impact of Oklahoma’s Brownfields Program.” Inhofe is chairman of the Senate Environment and Public Works Committee and called the report “an excellent study highlighting the economic benefits of the Oklahoma Brownfields program …
Judge Reconsiders Sanctions in $21 million Pollution Lawsuit
A federal pollution lawsuit totaling nearly $21 million dollars to be paid BY FAG Bearings of Joplin, Missouri gets a new twist. U.S. District Court Judge Greg Kays in Missouri has now agreed to reconsider the ruling he made one year ago in which he ordered the legal counsel of a woman who won $20.6 …
White House Asks Judge to Dismiss TransCanada Lawsuit Filed over Keystone XL Pipeline
The Obama administration is asking a federal judge in Houston to throw out the lawsuit filed in January by TransCanada in a challenge of President Obama’s rejection of the Keystone XL pipeline. The government filed paperwork recently asking U.S. District Court Judge Kenneth M. Hoyt to dismiss the lawsuit or grant summary judgment against TransCanada. …
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