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Energy Transfer wins ruling opening Williams deal escape route

Energy Transfer wins ruling opening Williams deal escape route

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Billionaire Kelcy Warren just won a hand in the biggest M&A poker game he’s played in the U.S. oil patch. Eighteen months after Warren’s Energy Transfer Equity began talks to acquire rival pipeline giant Williams Cos., a Delaware judge ruled Friday that the company can back out of the nearly $33 billion deal. The development …
SEC charges Breitling Energy, CEO Faulkner, general counsel in fraud case

SEC charges Breitling Energy, CEO Faulkner, general counsel in fraud case

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By Mark Curriden of The Texas Lawbook The U.S. Securities and Exchange Commission charged Dallas-based Breitling Energy Corp. and its CEO, “Frack Master” Chris Faulkner, of fraudulently spending tens of millions of dollars of investors’ money on lavish meals, expensive cars, strippers and escorts. The SEC alleged that Faulkner masterminded an elaborate $80 million oil …
Houston’s oil job growth ‘a little bit sobering’

Houston’s oil job growth ‘a little bit sobering’

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Oil prices may have bottomed out, but Houston’s economy probably hasn’t. Patrick Jankowski, chief economist for the Greater Houston Partnership, delivered the sobering news Thursday during a gathering of the Association of Commercial Real Estate Professionals. “I’m not going to sugarcoat the truth,” Jankowski told the room full of real estate agents, developers and architects. …
Market Currents: Saudi oil exports rise while inventories fall

Market Currents: Saudi oil exports rise while inventories fall

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And as the world comes to terms with the news that the U.K. has voted to leave the E.U., the oil market is getting a wop bop a loo bop a lop bam walloped. Hark, here are five more energy-specific things to consider today: 1) Energy commodities are getting crushed as a result of the …
BP monitoring ‘Brexit,’ plans to speak with British, EU leaders

BP monitoring ‘Brexit,’ plans to speak with British, EU leaders

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BP, the British oil giant with a large operation in Houston, said it was closely monitoring the situation following the Britain’s vote to leave the European Union and would be speaking with government officials in the United Kingdom and the EU as the exit process was negotiated. “It is far too early to understand the …

Oil plunges on British vote to leave EU

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Oil tumbled with most commodities amid a global flight from risky assets after the U.K. voted to leave the European Union. Whether the rout lasts depends on how world governments deal with the turmoil. Futures dropped 4.9 percent in New York and London, the biggest decline in four months. Global equities plunged, while safe-haven assets …

Houston stands to gain from rising use of natural gas

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Houston-based companies stand to gain as natural gas surpasses coal as the largest source of electric energy in the U.S. and gains globally. The use of natural gas at U.S. power plants surpassed coal for the first time last year, and its share of the domestic electric market has expanded since then, growing to 34 …

Efforts fail to settle Black Elk suits as trial begins

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A recent effort to settle lawsuits stemming from a 2012 explosion and fire on a offshore oil platform that killed three workers has been unsuccessful, according to a notice filed Thursday in federal court in New Orleans. Negotiators met over the past six days in an effort to resolve the lawsuits stemming from the fatal …
Categories: Black Elk, Industry News