Oklahoma’s gasoline prices are now up to $2 a gallon, according to the latest report from AAA Oklahoma. The $2 threshold was broken on Saturday for the first time since mid-November 2015 but the average dipped slightly on Sunday, finally settling at $2.003. A week ago, the statewide average was $1.95 a gallon. “There’s quite …
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 …
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 …
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 …
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 …
The acrimonious proposed merger between The Williams Companies, Inc. and Energy Transfer Equity, L.P. continues to unravel, with the filing of a new lawsuit by Williams in a Delaware state court. Williams announced late Friday that it filed a declaratory judgment action to prevent the company from terminating the controversial merger and forcing ETE to …
Linn Energy, LLC announced Wednesday that it filed for Chapter 11 bankruptcy after entering into a Restructuring Support Agreement with its lenders to obtain new financing and restructure debt. In its petition filed in the U.S. Bankruptcy Court in Victoria, Texas, the Houston-based oil and gas producer said its assets are worth approximately $11.6 billion, …
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.” …
Oklahoma U.S. Senators Jim Inhofe and James Lankford were among those who voted to pass a $37.5 billion energy and water bill on Thursday in the Senate. The overwhelming approval came after an impasse was resolved over a Republican amendment that Democrats contended would wrongly weaken the administration’s nuclear deal with Iran. The energy and …
For sale: Cheap. Never completed nuclear power plant. Only $36 billion. It’s a want ad you won’t read in the newspaper as the Tennessee Valley Authority decided recently to declare the Bellefonte nuclear plant near Hollywood, Alabama to be surplus. While the 1,600 acre site is unfinished, it’s cost more than $4 billion over the past …
