New Source debuts on NYSE
New Source Energy Partners LP began trading Friday on the New York Stock Exchange under the ticker symbol “NSLP.” The Oklahoma City-based partnership was formed by New Source Energy Corp. to own and acquire oil and natural gas properties in the United States. Its units initially were priced at $20 each, but closed Friday at $19.49.
Texas company to extend pipeline
Plains All American Pipeline LP is building a 55-mile extension to its previously announced Mississippi Lime pipeline, the Houston company announced this week. The extension is supported by a long-term commitment from an unidentified producer. The new pipeline, which is expected to be brought into service in the fourth quarter, will move up to 75,000 barrels of crude oil a day from Coldwater, Kan., to Byron in Alfalfa County. The company's existing pipeline runs from Byron to its terminal in Cushing.
Syntroleum keeps up legal fight
TULSA — Syntroleum Corp. is continuing its ongoing patent fight with a Finland oil company in Singapore. Syntroleum said Friday it has sued in Singapore alleging a Neste Oil subsidiary is operating a renewable diesel refinery that violates its patent there. The companies also are fighting a patent dispute in federal court in Delaware, when Neste accused Syntroleum of infringing on one of its patents. Syntroleum has denied Neste's claims.