Enable selects treasurer
A former Enogex executive has been named treasurer of Enable Midstream Partners LP. John Laws will report to the Midstream partnership's chief financial officer once one is hired. Laws most recently had been vice president of planning and development at Enogex. He joined the OGE Energy Corp. subsidiary from its parent company in 2011. “John has the experience we need to advise the business on investments and to secure funding,” said Sean Trauschke, chief financial officer at OGE Energy and an Enable board member. “He can balance the appropriate level of risk with the opportunities for growth.” Enable was formed May 1 by OGE Energy and Houston-based CenterPoint Energy Inc. The partnership is planning a $500 million initial public offering in early 2014.
SandRidge names vice president
SandRidge Energy Inc. executives on Monday named industry analyst Duane Grubert the Oklahoma City energy company's new executive vice president of investor relations and strategy. Grubert served as senior analyst for Susquehanna Financial Group where he covered the oil and gas exploration and production sector. He has 14 years experience as a Wall Street energy industry research analyst and previously spent 17 years at Unocal, where he served as a petroleum engineer and as general manager of corporate strategy and business intelligence. “We are excited to welcome Duane to our senior management team,” SandRidge CEO James Bennett said. “With his unique combination of Wall Street and industry experience, we are confident that Duane will play an integral role in ensuring effective communications to the investment community and in developing SandRidge's growth strategy.
Rose Rock acquires pipeline stake
TULSA — Rose Rock Midstream L.P. paid $275 million to parent company SemGroup Corp. to acquire an additional one-third interest in SemGroup Pipeline LLC, which has a 51 percent interest in White Cliffs Pipeline. Rose Rock now owns 67 percent of SemCrude Pipeline and indirectly owns a 34 percent interest in White Cliffs Pipeline, a 527-mile line that transports crude from Colorado to Cushing. Rose Rock paid for the deal through $173 million in cash borrowings under its revolving credit facility, $54.5 million from the issuance of 1.5 million common units to SemGroup and $45.4 million from the issuance of 1.25 million Class A units to SemGroup.