Author's posts
Texas based Bennu Oil and Gas Goes Belly Up
With liabilities of more than $700 million, Texas based Bennu Oil and Gas LLC has filed Chapter 7 bankruptcy and has shut down operations. The company said it has about $32.5 million in assets but most of its liabilities, about $495 million is owed to creditors whose claims are secured by property. Bennu Oil and Gas is …
Chesapeake Still Battling Royalty Lawsuits in South Texas
Oklahoma City-based Chesapeake Energy finds itself still fighting lawsuits by 110 royalty owners in the Eagle Ford shale of south Texas. In recent days, the Texas Multidistrict Litigation Panel took over and ordered a pretrial consolidation of the claims of those who contend they were underpaid by Chesapeake. But according to some of the court …
Judge Won’t Block Law Enforcement at North Dakota Pipeline Protest Site
A federal judge refuses to block North Dakota Law Enforcement from using excessive force against protesters camped for several months near the site of the Dakota Access Pipeline. Judge Daniel Hovland denied a request for a temporary restraining order filed by the National Lawyers Guild which represented the Standing Rock Sioux tribe and other protesters. …
Expect Big Changes in EPA if Trump Picks Texan to be New Administrator
While Oklahoma Attorney General Scott Pruitt’s among those reportedly being looked at to take over the Environmental Protection Agency in a Donald Trump administration, so is Kathleen Hartnett White, head of a conservative think tank. And she makes it clear that if she becomes the new EPA administrator, there’ll be some drastic changes. She not …
OKC Protesters Show Support for Standing Rock Sioux
Thursday was “Global Day of Action” in downtown Oklahoma City where about 50 protesters gathered in support of the Standing Rock Sioux fighting the Dakota Access Pipeline in North Dakota. Speakers urged people to withdraw money from banks and other businesses that have financial involvement in the $3.8 billion pipeline that will carry out from …
Feds Challenge Bankruptcy Reorganization Plan of Tulsa’s Samson Resources
The U.S. Interior Department’s putting up a fight against the Chapter 11 reorganization plan filed by Tulsa-based Samson Resources. It filed an objection this week to what the creditors are proposing. The filing was made in the U.S. Bankruptcy Court for the District of Delaware where Samson filed bankruptcy in September of last year. Among …
Unemployment up in October for Most Counties in Oklahoma
Figures from the State employment experts show unemployment rose in 68 of Oklahoma’s 77 counties in October compared to a year ago and some of the blame fell on the energy industry. Unemployment rates were unchanged in four counties and lower in five others, according to an announcement from the Oklahoma Employment Security Commission. Stephens …
Oilman Harold Hamm Just Got $ billions Richer from OPEC Move
Oklahoma oil billionaire Harold Hamm raked in $3 billion more this week when oil prices rose following OPEC’s decision to cut oil production by one percent beginning Jan. 1. As Bloomberg News pointed out, “Harold Hamm, the wealthiest energy billionaire in the U.S. became $3 billion richer Wednesday morning when shares of his Continental Resources Inc. …
Economies Still Lagging in Oklahoma and 8 Other Midwest States
The economies in Oklahoma and 8 other Midwest and Plains states are improving but remain weak according to the latest Mid-America Business Conditions Index report. Issued by Professor Ernie Goss at Creighton University, the index indicated the overall economic index for the region rose to 46.5 in November from 43.8 in October. Goss, an economics …
Lankford says OPEC’s Cut in Oil Production is a Sign of Dramatic Economic Struggles
While OPEC’s decision to cut oil production for the first time in 8 years won’t take effect until Jan. 1, Sen. James Lankford says it’s an indication the OPEC countries are suffering. “It signals to the world that many nations like Russia,Saudi Arabia and Venezuela are starting to feel the real pressure of these down …