Author's posts
ETE’s Warren Got Cold Feet 3 Months After Announcing Merger with Williams Cos.
While Williams Companies is urging its shareholders to approve the $38 billion merger with Energy Transfer Equity of Dallas, ETE’s CEO Kelcy Warren has second thoughts about the deal announced last fall. And testimony in a Delaware trial of one of the lawsuits filed by Williams against ETE indicated Warren had those thoughts within a …
Williams Board Members Urge Shareholder Approval of Merger with ETE
Less than one week before shareholders of Tulsa’s Williams Cos. decide on a controversial merger with Energy Transfer Equity of Dallas, Williams says three out of four of the leading proxy advisory firms recommend they vote for the proposed transaction. In a filing with the Securities and Exchange Commission, the company said the three are …
Wyoming’s Coal Industry is Hurting—–Being Replaced by Wind Industry
A sign of the times in Gillette, Wyoming. A U-Haul dealer has been sold out since earlier this month. It’s also an affirmation that the state’s coal industry is slowly dying and replaced by the wind industry. As the New York Times recently reported, the last coal mine in southwest Wyoming closed nearly ten …
Energen’s Plan—-Drill Wells and Sit on Them
Alabama based Energen Corporation says it has closed and signed purchase and sale agreements on more than half a billion dollars in holdings in West Texas and northwestern New Mexico and now is a pure Permian Basin developer. The company sold some holdings in the Delaware Basin of west Texas and the San Juan Basin in …
Bokoshe and Its Coal Ash Dump are Focus of Photographer
“We’ve got to clean up Bokoshe. We’ve got to stop this cancer rate. “ For six years, freelance documentary photographer Carlan Tapp has been photographing the coal ash dump around the southeastern Oklahoma town of Bokoshe…the town OK Energy Today has reported on over the past few years. Now Tapp is out with a …
$888 million Sale of OKC’s PayRock Energy
Houston, Texas based Marathon Oil Corporation announced Monday its $888 million purchase of PayRock Energy Holdings, an Oklahoma City portfolio company of Encap Investments. Marathon’s purchase raises its holdings in Oklahoma from 265,000 acres before the acquisition to 326,000 acres afterward. Earlier in the year, the company confirmed it had distributed $204 million …
SandRidge Bankruptcy Stalls Fraud Lawsuit in Stephens County
A Stephens County District Court judge has put on hold a local lawsuit accusing Chesapeake Energy and former SandRidge CEO Tom Ward of intentionally depressing bids and oil leases in the oil and gas industry. The lawsuit is similar to a federal lawsuit filed against Chesapeake and others in Oklahoma City U.S. District Court. …
Oklahoma’s Energy Sector Took Another Hit in May
Oklahoma’s latest jobless figures show the oil and gas industry is still bleeding badly in the world downturn, dropping 400 more jobs from April to May. Lynn Gray, Director of Economic Research and Analysis for the Oklahoma Employment Security Commission says the state’s energy sector has lost 19,200 jobs since its employment peaked in November …
Lawsuit by Williams Cos. in Muddy Merger Dismissed in Delaware
One of the lawsuits filed by Williams Cos. against Energy Transfer Equity in their muddy merger battle did not go to trial on Monday in Delaware as scheduled. Instead, the two firms agreed to a dismal and ETE of Dallas said it would pay $170,000 to cover court fees of Williams. Williams sued ETE in …
Oklahoma Joins Lawsuits Against VW Over Deceptive Advertising
The state of Oklahoma is one of the latest to join a series of lawsuits against Volkswagen, accusing the car maker of fraud in its Clean Diesel technology. The state is asking for nearly $8 million covering 3,855 registered VW vehicles in the state. Oklahoma is at least the seventh state to file a civil …