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Energy briefs for Oct. 19

Energy briefs for Oct. 19
Modified: October 18, 2012 at 7:38 pm •  Published: October 19, 2012


NGL Energy sets distribution

NGL Energy Partners LP will pay a quarterly cash distribution of 45 cents a unit on Nov. 14, the partnership announced late Wednesday. The distribution is a 9 percent increase over the previous quarter.

Laredo Petroleum issues stock

Affiliates of Warburg Pincus LLC have completed an underwritten secondary public offering of more than 14.3 million shares of Laredo Petroleum Holdings Inc. stock, the Tulsa-based company announced Wednesday. The stock, including 1.875 million shares for the underwriters, sold for $20.25 a share.

Gulfport funds capital projects

Gulfport Energy Corp. has completed a $250 million offering of senior notes, the company announced Wednesday. The notes will mature on Nov. 1, 2020. Gulfport intends to use proceeds from the offering to fund part of its 2012 and 2013 capital development plans.

College to offer safety seminars

Oklahoma City Community College will host two environmental and workplace safety seminars for the oil and natural gas industry this fall. The SafeLand USA classes scheduled for Oct. 31 and Nov. 28 will provide industry professionals with specific safety guidelines to use on the job. The classes, which cost $150 a person, will run from 8 a.m. to 6 p.m. in Room 407 at the college's Keith Leftwich Library, 7777 S May. For more information, contact John Claybon at 682-7855 or

Test well proves successful

Imperial Resources Inc. is looking to amass at least 5,000 acres of leasehold in Oklahoma after a test well produced more than 42,000 barrels of oil and 152,000 thousand cubic feet of natural gas through July 31, the Austin, Texas-based company announced this week. Imperial owns a nominal interest in the test well in the area it has targeted in Oklahoma. The company expects the well to yield more than 180,000 barrels of oil and 2 billion cubic feet of gas over its 25-year life, so it has been working with a local geologist to identify prime spots for future drilling.

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