Williams Files New Lawsuit Against Merger Partner, ETE

The acrimonious proposed merger between The Williams Companies, Inc. and Energy Transfer Equity, L.P. continues to unravel, with the filing of a new lawsuit by Williams in a Delaware state court. Williams announced late Friday that it filed a declaratory judgment action to prevent the company from terminating the controversial merger and forcing ETE to …

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Linn Energy Seeks Chapter 11 Bankruptcy Protection in Texas

Linn Energy, LLC announced Wednesday that it filed for Chapter 11 bankruptcy after entering into a Restructuring Support Agreement with its lenders to obtain new financing and restructure debt. In its petition filed in the U.S. Bankruptcy Court in Victoria, Texas, the Houston-based oil and gas producer said its assets are worth approximately $11.6 billion, …

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Lankford—–Why He Voted for Energy and Water Bill

  U.S. Sen. James Lankford was quick to praise the Senate for approval of the massive Energy and Water Development bill, noting that it was passed “in an open process.” The Republican Senator said the appropriations Act includes a proposal from his government waste report entitled, “Federal Fumbles: 100 ways the government dropped the ball.” …

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Big Energy and Water bill Passed by U.S. Senate

Oklahoma U.S. Senators Jim Inhofe and James Lankford were among those who voted to pass a $37.5 billion energy and water bill on Thursday in the Senate. The overwhelming approval came after an impasse was resolved over a Republican amendment that Democrats contended would wrongly weaken the administration’s nuclear deal with Iran. The energy and …

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Unfinished Nuclear Power Plant for Sale

For sale:  Cheap.  Never completed nuclear power plant. Only $36 billion. It’s a want ad you won’t read in the newspaper as the Tennessee Valley Authority decided recently to declare the Bellefonte nuclear plant near Hollywood, Alabama to be surplus. While the 1,600 acre site is unfinished, it’s cost more than $4 billion over the past …

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Energy Groups Sue to Stop Greater Protection of Sage Grouse

Even as the U.S. Fish and Wildlife Service moved this week to not relist the Lesser Prairie Chicken as a threatened species, the government was being sued over efforts to protect the greater sage grouse. The Western Energy Alliance and North Dakota Petroleum Council filed suit over the drilling restrictions put in place to protect …

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Oklahoma Senate Passes Bill Eliminating Tax Credit for Distressed Wells

A bill passed by the Oklahoma Senate on Thursday would eliminate a tax rebate for economically at-risk oil wells, resulting in a savings of over $130 million for the state. The bill — SB 1577 — authored by Senate President Pro Tempore Brian Bingman and House of Representatives Speaker Jeff Hickman, was approved by a …

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Crude Oil Futures Continue to Rise on Thursday

Oil futures maintained positive momentum on Thursday, settling at over $46 a barrel after achieving a new six-month record, according to Bloomberg MarketWatch. Oil prices have seesawed recently due to a myriad of issues including Iran’s efforts to boost production yield, outages causing a decline in global production and a continued dip in crude inventories. …

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Rep. Bridenstine Praises Feds Over Prairie Chicken Decision

The U.S. Fish and Wildlife Service decided this week not to pursue relisting the Lesser Prairie Chicken as a threatened species, an announcement that drew applause from Oklahoma Congressman Jim Bridenstine. “This has long been an effort by members of congress from Oklahoma. I’m glad the USFWS has received the message,” said Rep. Bridenstine after …

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T-Boone Pickens Throws Support to Donald Trump

Because of his close ties to Oklahoma’s oil and gas industry and to Oklahoma State University, it seems many fans of billionaire oilman T-Boon Pickens pay close attention when he speaks. This week, he spoke in Las Vegas while attending a hedge fund conference and told reporters he will support Donald Trump, the man most …

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