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Baker Hughes Moves to Buy Back $1 billion in Notes
In a move to improve its financial standings, Houston-based Baker Hughes Incorporated has started a tender offer to purchase for cash up to $1 billion in senior notes that are due in 2018, 2021, 2024, 2029 and 2040. The offer will continue until midnight, New York City time at the end of June 22, 2016. …
Federal Judge Turns Aside EPA’s Challenge to WOTUS Fight
Months after he issued a ruling that put the U.S. Environmental Protection Agency’s Waters of the U.S. Rule on hold, the same North Dakota federal judge ruled this week against a challenge made by the EPA. U.S. District Judge Ralph E. Erickson ruled Tuesday against the claims of the EPA to dismiss the challenges to …
House Approves Move to Defund WOTUS Rule
In a voice vote Tuesday night, the U.S. House of Representatives passed a new energy bill that moves to defund the Environmental Protection Agency’s controversial Waters of the U.S. Rule. The defunding is part of a $37.4 billion bill to fund the Department of Energy and the U.S. Army Corps of Engineers and several energy …
Another Pig Poop to Electricity Deal’s Announced
Updating a story we recently told you about concerning electricity from “pig poop,” Duke Energy Corp. in North Carolina has signed another deal to create electricity from the pig waste. Considered the nation’s largest electric company, Duke Energy said the deal is to collect methane gas from the animal waste and convert it into fuel …
Warren Buffet’s Company Now Owns 15% of Phillips 66
Berkshire Hathaway Inc., the firm founded and owned by Omaha, Nebraska financier Warren Buffet has increased its holdings in Phillips 66, now owning 15 percent of the company. The increase came after the company bought 642,841 shares of the oil refiner over the past several days. Berkshire Hathaway made the disclosure in a filing with …
$9 billion Debt Forces Chesapeake to Make a 2nd Swap of $166 million in Shares
Oklahoma City’s financially challenged Chesapeake Energy Corp. has agreed to another deal to exchange its outstanding shares in exchange for debt, according to documents on file with the Securities Exchange Commission. The move is yet another effort as the company wrestles with billions in debt. The filing, made Monday indicated the amount involved about 5 …
Wastewater Firm Moves Ahead in Nation’s Most Active Oil Play Despite Downturn
The energy downturn hasn’t stopped BlueJack Energy Solutions LLC in Dallas from securing up to $100 million in equity commitment from Energy Spectrum Capital through Energy Spectrum Partners VII LP. While rig counts have dropped in the past two years, there is still a need to dispose of wastewater from the wells being drilled in …
NGL to Release Earnings Report Thursday and Hold Earnings Call on Friday
Tulsa-based NGL Energy Partners LP plans to host an earnings call on Friday to discuss its financial results for the fiscal year that ended March 31, 2016. The 9 a.m. CDT call will be available to analysts, investors and other interested parties. The call will also come after NGL distributes its earnings press release following …
Lankford Shows No Letup in Criticism of Obama over Green Climate Fund and Zika Research
U.S. Sen. James Lankford has renewed his political point over the President’s threatened veto of the Senate’s approval of $1.1 billion in “emergency” spending to fight the spread of the Zika virus. Now he’s used the pages of The Daily Signal to make his point. As the Senator pointed out in a senate floor speech, the …
Attorneys General Want EPA to Stop Spending Dollars on Suspended Clean Power Plan
The Attorneys General in Texas and West Virginia are asking the Environmental Protection Agency to stop spending taxpayers dollars to comply with the halted Clean Power Plan. “The entire point of the Supreme Court’s extraordinary action in putting a stop to the Power Plan was to preserve the status quo pending the outcome of the …