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Judge Clears Way to Get Seventy Seven Energy Out of Bankruptcy
A month after it filed for Chapter 11 bankruptcy with $1.7 billion debt, Oklahoma City-based Seventy Seven Energy Inc. has won a judge’s permission for its reorganization plan. It virtually lets the company out of bankruptcy and also gives it access to $100 million in a new borrowing deal, according to the Wall Street Journal. …
Devon Finalizes $1.1 billion sale of Canadian Pipeline
Oklahoma City’s Devon Energy announced Thursday it is going ahead with a nearly $1.1 billion sale of its 50 percent ownership in a western Canada Access Pipeline. As OK Energy Today reported earlier, Wolf Midstream Inc. is the buyer. “With the highly-accretive sale of Access, Devon’s divestiture program is now complete with proceeds totaling $3.2 …
House Fails to Block Enforcement Funding for EPA
Efforts by Republicans in the U.S. House to block funding for the Environmental Protection Agency’s Criminal Enforcement Division didn’t get far as they were defeated late Wednesday. Here’s how Politico’s Morning Energy Report laid out what happened: “On Wednesday night , lawmakers voted down some Republican amendments targeting EPA – including ones to block …
Solar Panels to Make Up Mother Road Sidewalk in Missouri
Solar panels along the historic Route 66—the Mother Road— are coming, at least in the state of Missouri according to a re port by NBC News. Missouri’s Transportation Department says it will test a new type of pavement that also will help generate electricity through built-in solar panels. A company named Solar Roadways based in Idaho …
Noted Oklahoma Oilman Dead at 92
Oklahoma oilman Robert L. Parker Sr. was buried this week. He died July 9 at the age of 92 and for many years, led the company known as Parker Drilling Co. Over the course of his career in energy, he was named by President Ronald Reagan in 1981 to be chairman of the U.S. Energy …
Chesapeake Reaches $51 million Settlement of Hundreds of Royalty Lawsuits in Fort Worth
Oklahoma City’s Chesapeake Energy has agreed to pay nearly $51 million to settle hundreds of lawsuits filed over royalty fights around Fort Worth, Texas. The company had been accused of cheating property owners out of millions of dollars in natural gas royalties. Attorneys at a Fort Worth law firm announced this week that 91 percent …
House Committee Follows through with Subpoena Threat of Attorneys General
A U.S. House Committee whose members include Oklahoma Congressmen Frank Lucas and Jim Bridenstine has followed through with a threat to subpoena attorneys general in two states and environmental groups in their climate change probe of Exxon. Science, Space, and Technology Committee Chairman Lamar Smith (R-Texas) issued the subpoenas to New York Attorney General Eric …
States Continue Challenge of EPA’s Clean Water Act
Oklahoma is among nearly 30 states urging the Denver Federal Appeals Court to revive the U.S. Chamber of Commerce challenge to the federal clean water rule. In filings, the states say the court is not bound by a Sixth Circuit ruling that circuit courts hold jurisdiction over the claims. The states also want the 10th …
Boeing to Dedicate New $80 million Plant Next to Tinker Air Force Base
A year after breaking ground, Boeing’s getting ready for a ceremonial ribbon cutting at its new $80,000,000 facility in Oklahoma City. Governor Mary Fallin will help take part in Friday morning’s event dedicating Boeing’s new engineering, research and development lab. Building 84-301 is located at 6811 SE 59th street and the ceremony will begin at …
House Rushes to Finish $32 billion EPA Spending Bill
It was a late Tuesday night for U.S. Representatives as they worked on the $32 billion Interior-EPA spending bill. Forty-five amendments were handled by the time the gavel was sounded, according to a report from Politico’s Morning Energy Report. One item that did pass was a move to clamp down on monitoring water quality in …