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Oklahoma business briefs for April 9, 2013

Oklahoma business briefs for April 9, 2013
Published: April 9, 2013


Chesapeake will pay dividends

Chesapeake Energy Corp. will pay a quarterly dividend of 8.75 cents a share April 30, the company announced Monday. Chesapeake has about 667 million outstanding shares of common stock. The company also will pay dividends ranging from $1.125 to $14.375 a share on its outstanding convertible preferred stock. Those dividends will be paid May 15 or June 17.

WPX Energy is pleased with well

WPX Energy has produced more than 1 billion cubic feet of natural gas from a well in Colorado's Piceance Basin in a little more than 100 days, the company said Monday. “We're very pleased with what we're seeing,” CEO Ralph A. Hill said. “This well is demonstrating tremendous strength. It's a large discovery that has significant upside potential for creating shareholder value.” WPX says its Niobrara Shale discovery could potentially double its proved reserves, which were about 18 trillion cubic feet of natural gas at the end of 2012.