While the oil boom continues falling apart in North Dakota, it has claimed the venture capital firm, Intervention Energy, which filed for Chapter 11 bankruptcy in recent days. The firm, one of the largest companies focused on developing the Bakken and three forks areas in the Williston Basin, listed more than $140 million in debt …
A natural gas company isn’t ready to give up its antitrust claims against two Texas companies even after 10th U.S. Circuit court Judge Richard Matsch in Denver, Colorado ruled against it last year. Buccaneer Energy, a Nevada Corporation is appealing the judge’s ruling that show down its antitrust lawsuit filed in 2012 against SG Interest, …
Speculation grows that a lawsuit filed Saturday by Tulsa-based Williams Companies Inc. to stop Energy Transfer Equity LP from ending its merger with the company will cause a delay in the multi-billion dollar buyout. Over the weekend, ETE, based in Dallas indicated that prior to the lawsuit, progress was being made toward finalizing the merger. But …
In a move that many expect will dramatically increase the number of oil tankers moving through the waters between the U.S. and Canada, Canadian energy regulators are recommending approval of Kinder Morgan Canada’s plan to nearly triple pipeline capacity. The $5.4 billion Trans Mountain project will carry an estimated 890,000 barrels of crude oil a …
State officials in North Dakota are investigating a saltwater spill from an oilfield tank that overflowed last week near the city of Marmarth. The North Dakota Department of Health estimated 16,800 gallon spilled in the overflow along with more than 100,000 gallons of saltwater and oil. Marmarth is a town in southwest North Dakota and …
Friday was another day of ups and downs as oil futures produced weekly gains while crude prices closed out the week on a lower note, according to Bloomberg MarketWatch. June West Texas Intermediate crude lost 41 cents, or 0.9%, to end trade on the New York Mercantile Exchange at $47.75 a barrel. For the week, …
While the national rig count slipped by 2 in the past week to reach a total of 404, the count in Oklahoma increased by one to reach a total of 57 working oil and gas rigs, according to the latest data from Baker Hughes Company of Houston, Texas. The national count shows 318 working oil …
Federal investigators blame “external corrosion” for the massive Plains All-American pipeline oil spill that occurred May 19, 2015 in Santa Barbara County, California and say the company could have prevented it. The U.S. Department of Transportation’s Pipeline and Hazardous Materials Safety Administration, in a 510-page report, blamed the company’s failure to “protect the pipeline from …
The passage of the bill creating a $12.5 million cap on tax credits for at-risk oil and gas wells in Oklahoma by the State House didn’t come without some opposition. Although the 93-2 passage didn’t appear to offer much opposition, two Representatives, Cory Williams, a Democrat from Stillwater and Mike Brown, a Democrat from Tahlequah …
In a shocking move while burning the midnight oil prior to sine die adjournment, the Oklahoma House of Representatives suspended the rules late Thursday night and introduced an untimely filed amendment to Senate Bill 1577 which aims to cap the at-risk oil and gas well tax credit at $12.5 million annually for calendar years 2015-2020. …
