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Energy business briefs for Oct. 11

Energy business briefs for Oct. 11
Modified: October 10, 2013 at 8:50 pm •  Published: October 11, 2013
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WPX given conservation award

WPX Energy received the Restore New Mexico award from the Bureau of Land Management at an industry conference this week for supporting the agency's ongoing efforts to improve and protect public lands. The award recognizes WPX for supporting legacy well restoration, vegetation management and a multiyear mule deer study that will help the agency replicate high-value habitat, as well as for extensive planning that reduces emissions, truck traffic, ground disturbance and soil compaction. “WPX has demonstrated their leadership in the San Juan Basin for responsible energy development by proposing plans of development that incorporate a long-term view for the health of the land and maximizing the extraction of the resource,” said David Evans, who manages the agency's Farmington district office. WPX has leased 159,000 net acres in the San Juan Basin, including 31,000 that canvass an area where the company announced an oil discovery in August. The company's first six oil wells there have resulted in initial production of 819 barrels of oil equivalent per day.

NGL announces pricing of notes

NGL Energy Partners announced the pricing of its previously announced offering of senior notes due in 2021. The notes will bear interest at a rate of 6.875 percent a year. NGL expects the offering to close on Wednesday, subject to customary closing conditions.

WellMark offers new products

The WellMark Co. launched several new products. “It is an exciting time at The WellMark Company,” CEO Luis Gomez said. “Innovation is the key to designing, manufacturing and distributing the oil and gas production equipment our customers trust across the nation and around the world.” The Oklahoma City-based manufacturer has designed a remote monitoring feature that be used with chemical injection pumps, chemical tanks, oil production and storage tanks and water tanks. WellMark also added explosion-proof AC/DC pumps, a flanged safety relief valve and a low pressure chemical metering pump.

Lakewood acquires Itero Energy

Lakewood Midstream and Energy Spectrum Capital have acquired a leading provider of crude oil recycling and reclamation services, the companies announced Thursday. Lakewood CEO Tim Purcell said adding Itero Energy Inc. will allow the company to provide a full range of maintenance, transport and environmental services. “Itero will further Lakewood's mission to reduce the carbon footprint on our environment, as the demand for energy continues to rise,” Purcell said.

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