Devon sponsoring cleanup effort
Devon Energy Corp. is sponsoring this year’s Great American Cleanup, an effort expected to draw about 60,000 people in Oklahoma. Devon’s sponsorship helps Keep Oklahoma Beautiful offer free supplies and support materials to registered groups involved in cleanup projects around the state. “At Devon, we have a strong commitment to our environment and to our neighbors,” said Wendi Schuur, Devon’s director of community relations. Last year’s cleanup collected more than 5 million pounds of litter. Another 370,000 pounds of materials were recycled. For information, visit keepoklahomabeautiful.com or call 286-9141.
Baker Hughes opens tech center
CLAREMORE — Baker Hughes Inc. on Thursday opened its Artificial Lift Research and Technology Center. The $60 million facility was built to satisfy growing research, development and more extensive testing requirements for the artificial lift industry. “Baker Hughes has operated in Oklahoma since the earliest days of our industry. We’ve stayed here because of the rich and vibrant investment climate maintained by the state,” CEO Martin Craighead said. “Oklahoma has always been supportive of the critical oil and gas research, development, and manufacturing work that is required for the industry.” The new center complements the four existing Baker Hughes facilities in Claremore. Baker Hughes has more than 15 other facilities in Oklahoma, including Oklahoma City, Broken Arrow, Clinton, Sand Springs and Yukon.
Partners commit to pipeline
TULSA — Williams Partners LP has received binding commitments for all of the transportation capacity on its proposed Transco pipeline system expansion, the partnership announced Thursday. The $2.1 billion Atlantic Sunrise expansion project would add 1.7 million dekatherms of capacity to the nation’s largest-volume interstate natural gas pipeline system. The project still must be approved by Williams Partners’ board. “We expect to invest some $5 billion over the 2013 to 2017 time frame in Transco expansions that represent vital connections between diverse, surging supplies of domestic natural gas and growing demand centers on the Eastern Seaboard from New York City to the far Southeast,” CEO Alan Armstrong said. “We see this significant investment as an early read on Transco’s continuing growth opportunities. We look forward to working with shippers to develop this vital energy infrastructure.”
Laredo names new senior VP
TULSA — Laredo Petroleum Inc. has promoted Dan C. Schooley to senior vice president of midstream and marketing, the company announced Thursday. Schooley, who has more than 30 years of energy industry experience, has been with the company since it was formed in 2007. He will be responsible for the activities of subsidiary Laredo Midstream Services LLC. “We are excited to have Dan leading our efforts at LMS,” CEO Randy A. Foutch said. “It is a testament to the strength of the organization that we have someone of Dan’s caliber to manage a part of the business that is so vital to the future of the Company. His midstream and marketing expertise has proven to be invaluable as we continue to expand on our multi-zone development plan and continue to create value in our Permian-Garden City asset.”
Park Energy gets new investor
Park Energy Services LLC has received an investment from Rock Hill Capital Group. Park Energy was formed to acquire and operate a fleet of Sertco compressor servicing the domestic oil and natural gas industry. “We selected Rock Hill as our investment partner based upon their reputation in the marketplace and their shared vision of our growth plan for Park Energy,” CEO Johnathan Mitchell said. “We believe Rock Hill has the expertise to help us execute our plan to aggressively increase the size of our fleet to meet the needs of our customers.” Specifics of Rock Hill’s investment were not disclosed.
Fairview company acquired
Annapurna Capital Management has acquired Fairview-based Cimarron Acid Services Inc. and some of its affiliates, the Connecticut-based hedge fund announced this week. Terms of the deal were not disclosed. Cimarron is a leading pressure pumping services provider to the oil and natural gas industry in the Mid-Continent region. “Cimarron is a well respected platform within the highly specialized and technically complex pressure pumping industry, providing essential services supporting exploration and production in our nation's heartland,” said Marshall Brandt, a partner at Annapurna.
CenterPoint appoints director
The board at CenterPoint Energy Inc. has appointed Phillip R. Smith as a director, effective March 3, the company said Thursday. Smith, who is CEO of Torch Energy Advisors Inc., is expected to stand for election at CenterPoint’s annual meeting in April. CenterPoint provides electricity and natural gas to customers in six states, including Oklahoma. It also owns a 58.3 percent stake in Enable Midstream Partners, an Oklahoma City-based partnership it formed with OGE Energy Corp.
WILLIAMS COS. INC.
TULSA — The Williams Cos. Inc. posted a net loss of $14 million, or 2 cents a share, in the fourth quarter, the company reported Wednesday. Williams earned $149 million, or 23 cents a share, in the same period of 2012. The company blamed the decline in its net income to decreased natural gas liquids margins and its Louisiana olefins plant being out for service for the entire quarter. “In the face of the past year’s challenges presented by the continued decline in NGL margins and the significant and tragic Geismar incident, we continued to focus on significantly growing our fee-based revenues,” CEO Alan Armstrong said. “This growth was steady throughout 2013 and we expect it to grow even faster in 2014 and 2015 as we deliver on major projects for our customers in a safe and reliable manner.”
WILLIAMS PARTNERS LP
TULSA — Williams Partners LP on Wednesday reported net income of $211 million, or 12 cents a share, for the fourth quarter. That is down from $291 million, or 42 cents a share, for the same period of 2012.
From Staff Reports