Business energy briefs for Jan. 11

Business energy briefs for Jan. 11
Modified: January 10, 2013 at 9:02 pm •  Published: January 11, 2013
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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

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

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



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