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FTC Approves Tesla Bid to Acquire SolarCity
The Federal Trade Commission on Thursday approved electric car manufacturer Tesla Motors, Inc.’s bid to purchase SolarCity Corp. for $2.6 billion. The FTC fast-tracked the deal “because the merging companies have few or no overlaps.” Elon Musk, Tesla’s CEO, said in July that merging Tesla with SolarCity would create the “world’s only vertically integrated sustainable …
Protestors Voice Concern Over Pipeline at Norman Board of Adjustment Meeting
Several dozen Norman citizens attended a Wednesday night Board of Adjustment meeting in the city council chambers to voice their concern over a proposed oil pipeline, according to a report by Grant Hermes of News 9. The Red River Pipeline would stretch 350 miles from Longview, Texas to Cushing, Oklahoma. A portion of the line …
First Trial Set for Williams in Deadly 2013 Louisiana Plant Explosion
A state district judge in Louisiana has cleared the way for the first civil trial brought by workers injured in a fatal 2013 plant explosion and fire at the Williams Olefins complex near Baton Rouge. Two men were killed and 114 workers were injured in the June 13, 2013 blast at the facility located in …
PSO Seeks $132 Million Rate Increase with Oklahoma Corporation Commission
Attorneys for Public Service Company of Oklahoma presented arguments to Oklahoma regulators on Wednesday, seeking a rate increase of nearly $132 million. PSO attorney, Jack Fite, said the utility is entitled to reimbursement from customers for improvements made to the system. The company spent nearly $884 million since 2014 on system upgrades and air pollution …
Key Energy Services Restructuring, Plans to File Chapter 11 Bankruptcy
Houston-based oilfield service company Key Energy Services Inc. plans to file for chapter 11 bankruptcy protection in Delaware by November 8. Under the company’s restructuring plan, Platinum Equity LLC would become its largest shareholder, according to a report filed with the U.S. Securities and Exchange Commission on Thursday. Holders of senior notes would own about 95 …
Natural Gas Up Nearly 23% for Year, WTI and Brent Close Below $50 on Thursday
Natural gas futures climbed higher on Thursday while crude oil futures reclaimed some of the day’s prior losses, according to Bloomberg MarketWatch. September natural gas rose 5 cents, or 1.8%, to settle at $2.846 per million British thermal units on the New York Mercantile Exchange. Settlements are up nearly 11% for the week and 23% …
Completion Reports August 26, 2016
CARTER COUNTY Xto Energy Inc 11 4S 3E Wiggins (Wiggins 11-1h) 1-11h, June 21, 2016 HH, PLUG, TD: 12248 ft Lat: 34.23019, Long: -96.96356 API: 35019252430002 DEWEY COUNTY Duncan Oil Properties Inc Cleveland(9663): Oil 5 Gas 32 Water 19 Flow 34 16N 20W Kauk 2-34, July 25, 2016 SH, OIL, TD: 10195 ft Lat: 35.82560, …
Permits to Drill August 26, 2016
Blaine County GILLILAN #10-26-35XH, August 25 2016 26 16N 10W SENENENE API: 01123643 Lat: 35.83985562739203, Long: -98.22584225809764 CONTINENTAL RESOURCES INC HH, DR, 19543 ft, MISSISSIPPIAN(9981) Blaine County GILLILAN #9-26-35XH, August 25 2016 26 16N 10W SWNENENE API: 01123642 Lat: 35.839855625374675, Long: -98.22604468113101 CONTINENTAL RESOURCES INC HH, DR, 19433 ft, MISSISSIPPIAN(9871) Dewey County STEPHEN 26-18-17 #1H, …
Enable Midstream Taps Craig Harris for Executive VP Role
Oklahoma City-based Enable Midstream Partners, LP has named Craig Harris as its executive vice president and chief commercial officer, according to a corporate press release issued on Thursday. Harris will join the company effective September 6. “I am pleased to welcome Craig to the Enable team,” said Rod Sailor, Enable’s president and CEO. “He brings …
Duke University Files Claim With Estate of Aubrey McClendon
The alma mater of late oil tycoon, Aubrey McClendon, has filed a claim against his estate seeking collection on nearly $10 million in unsecured pledges to the university, according to a Wall Street Journal report. In the claim filed with the estate on August 12, Duke University listed the amount of $18.75 million for the total pledge, …