Energy Transfer Equity is taking steps that may enable it to renegotiate its $20 billion cash-and-stock acquisition of Williams Companies, Inc., Reuters reported late Monday evening. The companies are seeking to reduce the number of days specified for completing some of the deal’s administrative requirements, which would give them time to engage in renegotiation of terms …
Oil futures fell below $45 a barrel on Monday as traders sold some of their positions after a nearly 20% climb in April, according to Bloomberg MarketWatch. Data that reportedly shows a significant weekly rise in stockpiles at the Cushing, Oklahoma storage hub, rising output from major oil producers, and some downbeat U.S. economic figures …
The slumping energy sector has claimed more local jobs, according to the Tulsa World. Zeeco Inc., a Broken Arrow-based manufacturing company with a global presence, held a round of layoffs Friday, the company confirmed Monday. The provider of combustion equipment and advanced environmental systems says that the cuts are a result of the weak state …
Oklahoma City-based Blueknight Energy Partners, L.P. will announce its first quarter 2016 financial results after the market closes on Wednesday. The company plans to discuss the results during a conference call on Thursday, May 5 at 1:30 p.m. CDT. The company has assets of 7.4 million barrels of crude oil storage in Oklahoma and …
Tulsa-based WPX Energy wrapped up its cash tender offer on Friday for purchases of its outstanding 5.250 percent Senior Notes due 2017. The offer ended Friday at 5 p.m. and indicated $93 million or nearly 31 percent of the outstanding Notes had been tendered and accepted. The total purchase price offered for each $1,000 principal amount …
Tulsa-based Midstates Petroleum Co. is one of the latest companies to file Chapter 11 bankruptcy as the energy downturn adds another victim. Midstates, an Oklahoma company with 120 full-time workers filed Friday in Houston bankruptcy court listing liabilities ranging from $1 billion to $10 billion and more than 25,000 creditors. The paperwork said …
The $28 billion dollar merger between Halliburton and Baker Hughes, both headquartered in Houston was cancelled Sunday. The Securities and Exchange Commission was notified early Monday by the two companies after the Justice Department filed a civil complaint April 6 to stop the merger, claiming it would create a company so large that it would …
Even as early Sunday-morning earthquakes rattled southern Kansas and parts of northern Oklahoma, scientists with the U.S. Geological Survey indicated they believe there will be fewer earthquakes in the region due to steps taken to curtail wastewater injection well use in both states. The prediction comes form Justin Rubinstein, a seismologist and deputy chief …
A discovery by scientists now blames North Dakota’s Bakken Shale formation for contribution 2 percent of the entire world’s ethane output. The formation, which also stretches into parts of Montana is being blamed, according to some reports for reversing a decades-long decline in global ethane emissions, according to a recent report in the Washington …
Oil futures finished Friday with a modest loss following news of a monthly climb in production from OPEC but ended April with a monthly gain of nearly 20%, according to Bloomberg MarketWatch. The ride wasn’t a smooth one and volatility will likely prevail in the weeks to come as traders navigate conflicting clues on the …
