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Energy briefs for Dec. 28

Energy briefs for Dec. 28
From Staff and Wire Reports Published: December 28, 2012


PostRock makes final payment

PostRock Energy Corp. has made the final payment of $4.5 million in its Kansas royalty settlement, the Oklahoma City energy company said Thursday. PostRock said it is paying for the settlement with its new revolving credit facility, which it expects to have a balance of $58 million at year's end. “We are pleased to announce that with this final payment, we have successfully resolved the last remaining liability from our predecessor entities,” CEO Terry CW. Carter said. “We begin 2013 with no legacy issues, a new credit facility in place and plans for increasing shareholder value.”

Vision shown in alternative fuels

Three state offices and a leading Oklahoma automotive dealership have earned the 2012 Zach D. Taylor Jr. Clean Cities Vision Awards for Regional Alternative Transportation Fuels Leadership. The Oklahoma Energy Secretary's Office, Central Purchasing Division and Fleet Management Division shared the public sector award for their efforts to develop the nation's first multistate procurement program for natural gas vehicles from original equipment manufacturers. The private sector award went to Okarche's Carter Chevrolet Agency Inc. and affiliate OEM Systems LLC, which celebrated its 2,000th natural gas vehicle conversion in February.

Panhandle to pay dividend

Panhandle Oil and Gas Inc. will pay a regular quarterly dividend of 7 cents a share, the company announced Dec. 14. The dividend will be paid March 8, the day after Panhandle's annual shareholders meeting.

Wind farm to begin operations

The largest wind farm to be built in Kansas is scheduled to begin operation by the end of the year. Flat Ridge 2 is owned by BP Wind Energy and Sempra U.S. Gas and Power. The project has 274 wind turbines, each with capacity to generate 1.6 megawatts. At a total of up to 438 megawatts, the project can supply enough power for 160,000 homes, the companies said. The $800 million project is the largest to be built at once instead of in phases.



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