May 2, 2016 archive

May Will Bring an End to Any Remaining Drought Areas of Oklahoma

May is expected to bring an end to any remaining areas of Oklahoma still under a drought, according to the latest Oklahoma Mesonet Report. “The precipitation outlook is bullish on above-normal precipitation across all of Oklahoma, but especially the southwestern two-thirds,” said Gary McManus, State Climatologist in the Monday edition of his daily reports. “The …

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Chapter 11 Bankruptcy Filed by Tulsa’s Midstates Petroleum

      Tulsa-based Midstates Petroleum Co. is one of the latest companies to file Chapter 11 bankruptcy as the energy downturn adds another victim. Midstates, an Oklahoma company with 120 full-time workers filed Friday in Houston bankruptcy court listing liabilities ranging from $1 billion to $10 billion and more than 25,000 creditors. The paperwork said …

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Government’s Objection Brings Merger of Halliburton and Baker Hughes to a Halt

The $28 billion dollar merger between Halliburton and Baker Hughes, both headquartered in Houston was cancelled Sunday. The Securities and Exchange Commission was notified early Monday by the two companies after the Justice Department filed a civil complaint April 6 to stop the merger, claiming it would create a company so large that it would …

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