Oklahoma business briefs for Jan. 14

Oklahoma business briefs for Jan. 14
Published: January 14, 2014


Unit plans bigger capital budget

Unit Corp. expects to boost its capital expenditures by more than 25 percent this year, the company announced Monday. Most of the company's $928 million capital budget will be allocated to its oil and natural gas segment. Unit also plans to spend $132 million for its contract drilling segment and $78 million for its midstream segment. CEO Larry Pinkston said Unit will continue to focus its exploration efforts on liquids-rich areas, while completing its first BOSS drilling rig. Three more rigs also have been ordered.

Laredo plans senior note sale

Laredo Petroleum Inc. announced Monday that it intends to sell $350 million in senior notes in a private placement. The company will use net proceeds from the offering for general working capital purposes.

ONEOK announces cash tender

ONEOK Inc. on Monday announced a cash tender offer for up to $150 million in outstanding notes. Holders have until Jan. 27 to tender their notes for sale.

Calif. company acquires Maxcess

Oklahoma City-based Maxcess International Holding Corp., a provider of systems for web fed converting applications, has been acquired by a California private equity firm. Maxcess is the second web-handling company bought by Bertram Capital, which acquired Webex Inc. in 2012. In the merged entity, Webex CEO Gary Edwards will assume the position of chairman, with Maxcess CEO Greg Jehlik taking the role of CEO.

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