Author's posts
Nation’s Smallest Nuclear Power Plant Could be Shuttered by Year’s End
The nation’s smallest nuclear power plant could be closed by the end of the year. Located in Nebraska, the Fort Calhoun Nuclear Station is no longer financially sustainable, according to Tim Burke, President and CEO of the Omaha Public Power District. He said recently it makes no economic sense to keep it open. “It’s just …
Bankrupt Firm Might Move to Houston
A recent Chapter 11 bankruptcy filing by a Pennsylvania energy company could be a gain for Houston. Penn Virginia Corp, a firm that focuses on the Eagle Ford Shale in south Texas filed bankruptcy last week and listed $1.43 billion in debts and total assets of $517.7 million. It reached a restructuring support agreement with …
Impact of Linn Energy’s Bankruptcy
Management at Linn Energy LLC say they believe by filing for Chapter 11 reorganization last week like they did will enable the company to continue to operate normally without lining up new bankruptcy financing. With debt of $8.3 billion, the company leaders reached agreement with lenders to obtain 2.2 billion in financing. the debt restructuring …
$4.4 billion deal by Range Resources Corporation of Fort Worth
A $4.4 billion deal has been announced by Fort Worth-based Range Resources Corp. in its acquisition of Houston-based Memorial Resource Development Corporation. The all-stock deal is expected to close in the second half of 2016 as Range assumes Memorial’s net debt of $1.1 billion. When the deal closes, Memorial shareholders will own about 31 percent …
SandRidge Leaders Said Future was in Doubt Without Chapter 11
In filing Chapter 11 bankruptcy Monday, Oklahoma City-based SandRidge Energy listed $4.3 billion in liabilities. And it made it clear, the company’s future was in great doubt had it not filed for financial restructuring. It also filed a Form 10-Q with the Securities and Exchange Commission, stating, “The Company believes that a filing under …
SandRidge Energy Files Chapter 11 Bankruptcy Listing Billions in Debt
Oklahoma City-based SandRidge Energy ended the speculation on Monday by filing for Chapter 11 bankruptcy in the Southern District of Texas, listing billions in debt. At least 24 affiliates joined SandRidge in the bankruptcy filing in Houston. The company said it had up to 49 creditors and liabilities ranging from $1 billion to $10 billion …
More Troubles for Dakota Access Pipeline Company
Iowa regulators are under pressure to stop a proposed oil pipeline through the state and three other states. It is the Dakota Access pipeline, a 1,150-mile long project pushed by a Texas company that planned to start construction this week in the Bakken oil fields in northwest North Dakota. The pipeline is to stretch through …
Rig Counts in Oklahoma and U.S. Decline in Past Week
Oklahoma and the U.S. dropped again in oil and gas rig counts in the past week, Oklahoma dropping by one to reach 56 and the nation losing 9 more rigs, falling to a total of 406, according to figures released by Baker Hughes. Nationally, the drop included ten more oil rigs over the past week. Compared …
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.” …
NGL Energy Holdings Gets New Board Member
Tulsa-based NGL Energy Partners LP has named Christopher Beall to its board of directors of its general partner, NGL Energy Holdings LLC. Beall has more than 16 years of experience in direct investments, investment banking and finance and served as a key investment professional for Highstar Capital prior to joining Oaktree Capital in 2014, according …