Eskimo Joe's to close city site
Eskimo Joe's will close its Penn Square Mall store as of Dec. 28, the retailer announced Monday. The Stillwater-based company has leased space at the Oklahoma City mall for at least 17 years but was in a temporary store for the last several years. Brighton Collectibles will relocate to the former Eskimo Joe's while its store is remodeled. Eskimo Joe's currently has temporary holiday shops at Quail Springs Mall, Sooner Mall in Norman, Mountain View Mall in Ardmore, Shawnee Mall in Shawnee and Oakwood Mall in Enid.
Gulfport will expand holdings
Gulfport Energy Corp. has struck a deal to acquire an additional 30,000 acres in Ohio's Utica Shale for about $300 million, the company announced Monday. The deal, which includes 14 existing wells, would boost Gulfport's holdings there to about 137,000 gross acres. Gulfport also announced a public offering of 9 million shares of common stock meant to help finance the acquisition. Underwriters will be able to purchase an additional 1.35 million shares.
Chesapeake to pay dividends
Chesapeake Energy Corp. announced Monday it will pay quarterly dividends on its common and preferred stock. Holders of the company's common stock will receive dividends of 8.75 cents a share on Jan. 31. Dividends on Chesapeake's preferred stock will range from $1.125 to $14.375 a share, payable on Feb. 15 or March 15.
Laredo sets budget at $725M
TULSA — Laredo Petroleum Holdings Inc. has set its capital budget for 2013 at $725 million, the company announced Monday. Laredo will focus primarily on the continued development of its acreage in west Texas' Permian Basin. The company intends to fund its capital program from cash flow and borrowings. “Our activities in 2012, as planned, have now confirmed four prospective shale intervals on our Garden City acreage, including the Upper, Middle and Lower Wolfcamp and Cline shales, that can be efficiently produced with horizontal wells,” CEO Randy A. Foutch said. “Our 2013 program is designed to continue to de-risk a growing percentage of our core Garden City acreage for these zones and begin the process of optimizing their development to truly maximize the value of this asset for our shareholders.”
From Staff Reports