Chaparral replaces McClendon
Chaparral Energy Inc. has replaced outgoing Chesapeake Energy Corp. CEO Aubrey K. McClendon on its board of directors, the privately held Oklahoma City oil and natural gas company reported Tuesday in a regulatory filing. CHK Energy Holdings Inc., which owns about 20 percent of Chaparral, tabbed Nick Dell'Osso to occupy its spot on the company's board. Dell'Osso has been executive vice president and chief financial officer at Chesapeake since November 2010. He also is a director for Access Midstream Partners LP. Also Tuesday, Chaparral announced the hiring of Jeffrey Gutman as its senior vice president and chief business development officer. Gutman, who will earn a base salary of $290,000 a year, previously had been senior vice president and chief financial officer of Ohio-based Oxford Resource Partners LP. He also spent 17 years with The Williams Cos. Inc. in Tulsa.
Hobby Lobby files court brief
Hobby Lobby Stores, Inc. has filed a brief with the U.S. 10th Circuit Court of Appeals in Denver asking the court to reject a lower court's ruling that the company does not qualify for a temporary injunction against a federal mandate that requires the company to cover the cost of emergency contraceptives for its employees. The company faces fines up to $1.3 million a day for failing to comply with the law while its legal challenge to the federal health care law is pending. The appellate court has already rejected an earlier request from the company for a temporary injunction, as has the U.S. District Court for the Western District of Oklahoma and U.S. Supreme Court Justice Sonya Sotomayor. Hobby Lobby is asking the appellate court to overturn the U.S. District Court ruling and instruct the lower court to grant the company a preliminary injunction. In its latest filing, Hobby Lobby argues that it should not have to comply with the federal health care law, because it violates the Green family's religious beliefs. The federal mandate “forces the Green family and Hobby Lobby to offer insurance that the Greens sincerely believe entangles them and their business in the practice of abortion,” Hobby Lobby's attorneys argued in the brief.