Devon Energy plans career fair
Devon Energy Corp. will host a career fair this month to fill more than 250 jobs. Qualified applicants can register on the company's website for the Devon Energy Petro-Professional Career Fair, which will be from 2 to 5 p.m. Jan. 22. Devon is looking for experienced professionals with backgrounds in engineering, geosciences, division orders, regulatory affairs and environmental health and safety. The company has about 280 positions to fill, including some left open by employees who declined to move to Oklahoma City after Devon shuttered its Houston office.
Rose Rock acquires pipeline stake
TULSA — Rose Rock Midstream LP has agreed to acquire a 33 percent stake in SemCrude Pipeline LLC for $273.9 million. The deal with parent company SemGroup Corp. gives Rose Rock a 17 percent stake in the White Cliffs Pipeline, a 527-mile crude oil line that runs from Colorado to the storage hub at Cushing. A planned expansion project will increase the line's transportation capacity to 150,000 barrels a day by the middle of 2014. “We are excited to announce our first drop down transaction for Rose Rock Midstream, which will be immediately accretive to the partnership's common unit holders,” CEO Norm Szydlowski said. “This acquisition supports our strategic plan and is complementary to our existing crude-based business.”
SemGroup announces dividend
TULSA — SemGroup Corp. expects to pay a quarterly cash dividend to common shareholders beginning in the second quarter, the company announced this week. The dividend is meant as a pass-through for the majority of the cash distributions received by SemGroup from its interests in Rose Rock Midstream LP and NGL Energy Partners LP. “In the past three years, since becoming a public company, we undertook a number of initiatives to improve the stability of our cash flows and to position the company to benefit from the significant growth potential in the midstream oil and gas sector,” CEO Norm Szydlowski said. “Our intention to initiate a cash dividend reflects our confidence in our future cash flows. It is another important step in our commitment to deliver value to shareholders.”
PetroQuest plans seismic survey
PetroQuest Energy Inc. is poised to invest in a 3-D seismic survey in northern Oklahoma's Mississippi Lime formation, the Louisiana-based company announced this week. PetroQuest is encouraged by its results to date in the play, so it is ready to invest more money there. The company intends to take part in a survey of its Pawnee County acreage, while evaluating its options in Kay and Grant counties.
Texas firm completes $21M deal
Houston-based LRR Energy LP has completed its $21 million acquisition of oil and natural gas properties in Oklahoma, the partnership announced. LRR bought the properties from its sponsor, Lime Rock Resources. The deal included commodity hedge contracts worth about $1.8 million.
Tulsa company finishes financing
TULSA — American Natural Energy Corp. said Thursday it has completed its previously announced unsecured convertible debenture financing with the sale of an additional $1 million debenture to a private investor group. The debenture is due and payable in two years. Interest is payable quarterly at an annual rate of 12 percent. The Tulsa energy company said it will use the proceeds to pay for drilling and completion expenses.
BP settlement pays another $1B
NEW ORLEANS — Businesses and individuals who claim BP's oil spill in the Gulf of Mexico cost them money have been paid more than $1 billion through the company's class-action settlement with a team of private plaintiffs' attorneys, court-supervised claims administrator Patrick Juneau said. The $1 billion that Juneau's team has paid is for claims that were filed after the settlement was announced last year. They also paid an additional $404 million for claims that Juneau inherited after replacing the Gulf Coast Claims Facility led by Kenneth Feinberg. The facility processed about 221,300 claims following the 2010 spill and paid out more than $6 billion before the court-supervised claims process was established in June 2012. Juneau's staff has handled more than 223,000 calls about the settlement and received more than 97,000 claims. He said 95 percent of claimants who were offered payments by his team decided to accept them. However, thousands of people and businesses opted out of the deal to pursue their claims individually.
From Staff and Wire Reports