Public offering done
TULSA — The Williams Cos. Inc. has completed a public offering of $850 million in senior notes, the company announced Tuesday. Williams intends to use proceeds from the offering to finance a portion of its investment in Access Midstream Partners and its general partner. The company announced Dec. 11 it would invest up to $2.4 million in the pipeline partnership.
Postrock gets funds
PostRock Energy Corp. is getting another investment from private equity firm White Deer Energy LP. PostRock expects to receive White Deer's final investment of $13 million on Thursday. That will bring White Deer's total investment in the Oklahoma City oil and natural gas company to $92.5 million. As part of its investment, White Deer has agreed to buy more than 4.5 million shares of PostRock's common stock for $1.42 a share, plus $6.5 million worth of preferred stock and warrants to purchase another 4.5 million shares of common stock at the same price.
Laredo names CFO
TULSA — Laredo Petroleum Holdings Inc. has promoted Richard C. Buterbaugh to executive vice president and chief financial officer, the company announced Tuesday. Buterbaugh, 57, will replace W. Mark Womble, who is retiring at the end of March. “Rick has brought more than 35 years of public company oil and gas financial experience to the company,” CEO Randy A. Foutch said. “As we began the process of searching for a replacement for Mark, following his recently announced planned retirement, the board recognized that Rick`s financial skill set, coupled with his valuable contributions in a wide assortment of projects since joining the company, made him the ideal candidate to take this position and ensure a smooth transition of this important role for Laredo.” Buterbaugh has been senior vice president for investor relations at Laredo since June. Before joining Laredo, he was vice president of corporate planning for Kerr-McGee Corp. and vice president of investor relations for Quicksilver Resources Inc.
Temtrol to expand
OKARCHE — Air handling and coil manufacturer Temtrol is adding on to its plant and office building. The 80,000-square-foot addition will allow Temtrol to expand its production capabilities for new products, with space for new customer and employee training areas. Temtrol, which was founded in 1955, is Okarche's largest employer. “This plant expansion will support Temtrol's growth plans for many years, providing opportunities for current employees and for those who will join us in the future,” general manager Andy Halko said.
Gulfport prices offering
Gulfport Energy Corp. has priced an offering of $50 million of its 7.75 percent senior notes due 2020 at an issue price of 101 percent of the aggregate principle amount. The Oklahoma City energy company on Oct. 17 completed a private placement of $250 million of notes with the same terms. The two offerings will be treated as a single class of debt securities under the same indenture. Gulfport said it will use the proceeds for general corporate purposes, including the funding of a portion of its 2013 capital development plan.
From Staff Reports