Cancer claims ONEOK exec
TULSA — A senior vice president at ONEOK Inc. has died after a long battle with cancer, the company said Friday. Dan L. Harrison, senior vice president of administrative services and corporate relations at ONEOK and ONEOK Partners LP, was 61. “Dan was loved and respected at ONEOK, both as a friend and leader, and will be greatly missed,” CEO Terry K. Spencer said. “Dan’s contributions to ONEOK and its employees are too numerous to name, and the way in which he was able to tell ONEOK's story in such a meaningful way to the investment community — and to all of our audiences — is a great legacy.” Harrison had been at ONEOK since 2005 after filling senior management positions at multiple Fortune 100 companies.
Riley adds wells to site
Blanchard-based Riley Exploration Group LLC has completed its third and fourth wells in Texas’ Taylor Sand with FieldPoint Petroleum Corp. The wells were drilled on the same pad as the first two wells completed there, FieldPoint President Phillip Roberson said. The companies expect the new wells to perform as well or better than their first two in the Serbin Field. “We are very encouraged by these early results and expect the economics to continue to improve as we drill more wells in the Ranger Project,” Roberson said.
Cypress sets distribution
Cypress Energy Partners LP will pay a cash distribution of 39.6844 cents a unit. That is up more than 2 percent over the partnership’s target minimum quarterly cash distribution. The distribution will be paid on Aug. 14.
ONG is most trusted
TULSA — Oklahoma Natural Gas has been ranked as the most trusted natural gas utility brand in the country. Cogent Reports surveyed 19,000 residential utility customers who are served by 125 of the largest natural gas, electric and combination utilities in the United States. ONG, a division of ONE Gas Inc., topped all of the natural gas utilities. CEO Pierce H. Norton II said, “Service is one of our core values, and this ranking highlights that our employees are demonstrating those values.” ONG serves nearly 850,000 customers in Oklahoma.
Compressco sells notes
Compressco Partners LP and subsidiary Compressco Finance Group are selling $350 million in senior notes to qualified institutional buyers. The notes due in 2022 have been priced at 95.508 percent, with a coupon for 7.25 percent a year. The offering is expected to close on Monday.
Access unitholders gain
Access Midstream Partners LP has increased its second-quarter cash distribution by more than 22 percent over the same period of last year. Access Midstream will pay its unitholders 59.5 cents a unit on Aug. 14. Holders of Access Midstream’s Class B units will receive a distribution equal to that amount in additional Class B units.
EnLink plans distribution
The EnLink Midstream companies will pay cash distributions to its unitholders, the Dallas-based entity announced last week. EnLink Midstream Partners LP will pay 36.5 cents a unit on Aug. 13, while general partner EnLink Midstream LLC will pay 22 cents a unit a day later. EnLink was formed in March when Devon Energy Corp. combined its midstream assets with CrossTex Energy Inc. Devon owns about 70 percent of the partnership.
Tulsa plant still for sale
Spirit AeroSystems is still committed to selling the Tulsa plant that it put on the market a year ago, CEO Larry Lawson said Friday. “We put Tulsa up for sale,” Lawson said Friday during the company’s second quarter earnings call with analysts. “I’m not changing my mind about that. We are going to finish out this cycle and see what happens.” Spirit announced in August 2013 that it was selling its Tulsa and McAlester sites in 2013, part of a turnaround project by the new CEO aimed at divesting the company of less profitable projects. Company leaders have been quiet on the sales process, commenting only during quarterly earnings calls. The Tulsa site, with about 2,700 employees, primarily constructs equipment for wings on Boeing and GulfStream projects. Lawson said he has been surprised at how long the sale process has taken, but that it wasn’t surprising.
From Staff and Tulsa World Reports