Oklahoma business briefs for Feb. 5

Oklahoma business briefs for Feb. 5
Modified: February 4, 2014 at 9:34 pm •  Published: February 5, 2014
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Oklahoma briefs

Chesapeake welcomes Tolbert

Former Oklahoma Environment Secretary Miles Tolbert is joining Chesapeake Energy Corp. as associate general counsel for environment, health and safety, the company announced Tuesday. “Miles recognizes the importance of exploring and producing energy while protecting people, communities and the environment. His impressive background in environmental law and policy pairs well with our commitment to operational excellence and integrity,” CEO Doug Lawler said. "I look forward to working with Miles to ensure our company operates in an environmentally responsible manner, focused on stewardship, safety and risk mitigation.” Tolbert was Oklahoma's environment secretary from 2003 to 2008, when he joined Crowe and Dunlevy as chairman of the firm's environmental practice group. He will start at Chesapeake on Feb. 17.

$500M notes offering is planned

American Energy-Utica LLC plans to offer $500 million in convertible subordinated notes, the Oklahoma City-based company announced Tuesday. The notes can be converted into common stock if the company completes a public offering. American Energy-Utica intends to use proceeds from the offering to fund leasehold acqusitions, drilling programs and seismic data acquisitions.

Gulfport CEO will aid transition

Retiring Gulfport Energy Corp. CEO James D. Palm will be available to consult with company officials over the next three years, the period covered in his existing employment contract, according to a regulatory filing Tuesday. Palm, who is retiring Feb. 15, has agreed to advise to the company during the transition to a new CEO. Gulfport President Michael G. Moore will fill that post on an interim basis. Palm also has agreed not to compete with Gulfport over the next three years. Palm is specifically barred from working with former Chesapeake Energy Corp. CEO Aubrey McClendon and his new company, American Energy Partners LP. Palm will receive 80,000 shares of restricted Gulfport stock and a lump sum of $1.8 million, plus $200,000 a year for his consulting services.

American Fidelity receives honor

American Fidelity Assurance Co. has made the Training Magazine Top 125 list for the 10th consecutive year. The list recognizes companies that provide excellent training and development programs for their colleagues. “One of the best ways to increase your job security is to never stop learning,” said David McLaughlin, talent management team leader. “With constant technological advancements, the workplace has changed drastically during the last 20 years and will do so over the next 20. Our training and career development team helps colleagues adapt to these changes and learn new skills so they can continue to succeed and grow. In turn, this helps the company succeed and better serve customers.”

M3 Technology alliance expands

M3 Technology Solutions has extended its existing partnership with IGT by offering a customized management system to public gaming and video terminal route operators around the world, the company said Wednesday. The partnership combines M3T's route management system and ATM-enabled self-service ticket redemption kiosks with IGT's products, enabling public gaming and route operators to manage multiple properties from a central location.

From staff reports

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