Oklahoma Energy Update for Jan. 3

Oklahoma Energy Update for Jan. 3
Modified: January 2, 2014 at 8:48 pm •  Published: January 3, 2014
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Energy Update

OG&E receives

an extension

Oklahoma Gas and Electric Co. has been granted an extension of a stay in its case against a federal plan to deal with regional haze from coal-burning power plants affecting parks and wilderness areas. A three-judge panel of the U.S. Court of Appeals for the Tenth Circuit said Thursday a stay blocking enforcement of the federal rule could remain until Jan. 31. The 2-1 decision on the stay gives OG&E and Oklahoma Attorney General Scott Pruitt additional time to appeal the court's earlier decision on the case to the U.S. Supreme Court. If the Supreme Court decides to review the case, the stay would remain until its final disposition of the case.

Equal files statement

Under fire from two major investors for its proposed sale to a Tulsa company, Equal Energy Ltd. filed a preliminary proxy statement outlining its reasons for the sale. In a filing late Tuesday, Equal said an offer by Tulsa's Petroflow Energy Corp. for $5.43 per share was the best offer the company received. The proposed sale must be approved by two-thirds of Equal's shareholders. Alabama-based Montclair Energy LLC in February made an unsolicited offer for Equal at $4 per share, prompting Equal to evaluate its options. Equal moved from Calgary to Oklahoma City in March and has operations in central Oklahoma's Hunton formation.

FROM STAFF REPORTS



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