TULSA, Okla. (AP) - A Delaware bankruptcy judge has approved part of a troubled Tulsa-based energy company's request for a $250 million loan to help keep it in business.

Judge Brendan L. Shannon gave his interim approval yesterday for a $150 million debtor in possession loan to SemGroup LP financed by Bank of America and other lenders. Shannon will rule on the remainder of the loan request on Aug. 18.

SemGroup acting president and CEO Terry Ronan said the financing is an important step forward in the bankruptcy process.

Ronan says the reassurance it gives creditors and employees will be essential to executing the plan created to maximize value for creditors.

Reports indicate SemGroup plans to sell off all of its assets to pay off billions in debt owed to lenders and suppliers.