LegalShield names new CEO
ADA — The company formerly known as Pre-Paid Legal Services has tabbed a new CEO. Jeff Bell joined LegalShield after 20 years of experience with companies like Microsoft, Chrysler and NBCUniversal. “Having Jeff join LegalShield is a great step forward for the company as we continue to raise awareness around the need for affordable legal protection,” said Rip Mason, who became the company’s executive chairman to make way for Bell. “Jeff’s ability to raise consumer awareness, and lead the industry’s best sales and service team will allow LegalShield to address one of the most important challenges our society faces — ensuring affordable and quality legal counsel for every American.” The company changed its name to LegalShield after it was bought by a New York-based private equity firm in 2011.
Enid association gets $900K grant
Enid’s Community Development Support Association Inc. has been awarded more than $900,000 in federal funding to provide services for young people, the U.S. Department of Labor announced Wednesday. The department’s YouthBuild grants support academic and occupational skills training for at-risk youth. It awarded more than $73 million in grants on Wednesday. “YouthBuild offers thousands of young people the tools, resources and opportunities they need to punch their ticket to the middle class,” U.S. Secretary of Labor Thomas E. Perez said. “These federal grants are part of our broader effort to invest in the future of our nation’s youth and help them climb the ladder of opportunity.”
Gulfport Energy Corp.
Gulfport Energy Corp. on Wednesday reported net income of $47.9 million, or 56 cents a share, for the second quarter. That is up from $43.8 million, or 57 cents a share, for the same period of last year. Gulfport also nearly tripled its production to 26,725 barrels of oil equivalent a day. The company expects to continue boosting production in the third quarter, to an average 40,000 barrels a day.
PostRock Energy Corp.
PostRock Energy Corp. posted a net loss of $7.4 million, or 23 cents a share, in the second quarter, the company reported Wednesday, due to poor bets on commodity prices. The company earned $3.2 million, or 13 cents a share, in the same period of last year. PostRock’s production remained flat at 52.3 million cubic feet of natural gas equivalent a day, but its oil production rose 25 percent to 682 barrels a day.
Enable Midstream Partners LP
Enable Midstream Partners LP boosted its adjusted earnings by 7 percent in the second quarter to $211 million, the partnership reported Tuesday. Enable earned $198 million in the same period of last year on an adjusted basis. Net income dipped drastically this quarter since last year’s income was impacted by the recognition of $1.24 billion in outstanding tax liabilities and deferred tax assets as a result of its conversion to a partnership. Enable was formed earlier this year when OGE Energy Corp. and CenterPoint Energy Inc. combined some of their midstream assets. CEO Lynn Bourdon said Enable continues to see strong growth for rich gas volume in Oklahoma’s Anadarko Basin. “As we move forward, we plan to execute on our growth plans and deliver superior unitholder returns while remaining focused on our values of safety, integrity, customer service, accountability and teamwork,” he said.
TULSA — WPX Energy posted a net loss of $135 million, or 66 cents a share, in the second quarter due to a before-tax loss associated with the sale of working interests in some of its Piceance Basin wells, the company reported Tuesday. The company earned $18 million, or 9 cents a share, in the same period of last year. WPX also reported a 57 percent jump in oil production, along with stronger-than-expected natural gas production. “Our exposure to high-margin oil basins strengthens the diversity in our portfolio and gives us the opportunity to deploy capital in the most optimal way,” CEO Rick Muncrief said.
From Staff Reports