Oklahoma business briefs for Feb. 27

Oklahoma business briefs for Feb. 27
Published: February 27, 2013
Advertisement
;

Trailblazer to anchor Fund II

Oklahoma City-based business accelerator VentureSpur said Tuesday that Trailblazer Capital has agreed to become the anchor investor for its Fund II and to partner in development of a 2013 program at least twice the size of the 2012 program. Trailblazer Capital specializes in early stage and growth capital investments in networking, mobility and enterprise software. “We are delighted to have Trailblazer Capital as our anchor investor for Fund II,” said Kraettli L. Epperson, VentureSpur's managing director. “They were great event sponsors and panelists for Pitch Day 2012, and we know they'll help us attract the best applications and the best mentors in the region.”

OGE will seek stock split

OGE Energy Corp.'s board of directors said Tuesday it will ask shareholders at its annual meeting in May to approve a potential 2-for-1 stock split of its common shares. The utility also said it will pay a second-quarter dividend of 41.75 cents per common share April 30 to holders of record as of April 10. OGE is the parent company of Oklahoma Gas and Electric Co. and OGE Enogex Holdings LLC.

EARNINGS

GULFPORT ENERGY CORP.

Gulfport Energy Corp. on Tuesday reported fourth-quarter earnings of $15.9 million, or 28 cents a share. The Oklahoma City-based oil and natural gas producer earned $31 million, or 59 cents a share, in the same period of 2011. Gulfport's full-year earnings dipped from $108.4 million, or $2.20 a share in 2011, to $68.4 million, or $1.21 a share last year. The company also reported its 2012 production totaled 2.57 million barrels of oil equivalent, up 10 percent.

COMPRESSCO PARTNERS LP

Fueled by strong overseas growth, Compressco Partners LP boosted its net income to $9.4 million last year, the partnership reported Tuesday. That is up from $7.2 million in 2011, thanks to a 23 percent increase in revenue. “In 2012, we accelerated our strategic focus on expanding unconventional resource applications and growing our business outside the U.S. Our team diligently deployed assets into Latin American, European and Asian Pacific markets throughout 2012, while domestically focusing on unconventional applications supporting associated gas from liquids production, vapor recovery and casing gas systems,” President Ronald J. Foster said.

From Staff Reports