Oklahoma business briefs for June 21

Oklahoma business briefs for June 21
Modified: June 20, 2013 at 8:57 pm •  Published: June 21, 2013
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Kimray manufactures switch

Equipment manufacturer Kimray Inc. recently released its first pneumatic level switch. It is designed as a liquid level controller for oil and natural gas separators, water knockouts, gas scrubbers and accumulators, with a magnet and check valve system and diaphragm pilot mechanism to increase flow rate. “We've utilized the best design and materials to withstand the rigors of the oil and gas production process and will deliver services that are better than what our customers expect,” CEO Tom Hill said. “We believe these products will benefit the oil and gas industry through reducing cost and maintenance while increasing productivity and flow rate.”

Gulfport hires ex-chairman

Gulfport Energy Corp. has entered into a consulting agreement with former chairman Mike Liddell. Liddell, who opted not to seek re-election to Gulfport's board, resigned as chairman at last week's annual shareholders meeting. Liddell will be paid $65,000 a month under the deal, which runs through 2015. He also will continue to be eligible for future equity awards under the company's stock incentive plan.

Canadian agrees to sanctions

A Canadian man has agreed to sanctions after admitting to illegally selling securities in a company that purportedly owned an oil lease in Oklahoma. Richard Gozdek sold partnership agreements in a Nevada-based company called Armadillo to at least 26 investors in British Columbia between December 2010 and April 2011, according to the province's securities commission. Gozdek received a fee of about $40,000 for selling more than $1.4 million worth of partnership agreements. As part of his agreement with the British Columbia Securities Commission, he will pay the agency more than $65,000 and resign any position as a director or officer of any issuer, registrant or investment fund manager. He also is banned from trading in securities for five years.

Calif. firm drills 2 wells in state

BNK Petroleum Inc. is drilling the lateral section of one well in Oklahoma's Tishomingo Field, while starting fracture stimulation of another, the California-based company announced this week. The well is expected to completed in the next week, although results won't be available for another three to four weeks.

Retired exec to join Access board

Retired oil and natural gas industry executive William B. Berry has been appointed to the board of Access Midstream Partners LP's general partner. Berry, who retired in 2008 as executive vice president of ConocoPhillips, has 37 years of industry experience. He also serves on the boards for Willbros Group, Nexen Inc. and Teekay Corp. Berry was granted about $50,000 worth of Access units as part of his appointment. He is expected to be granted about $50,000 in units each year, plus an annual retainer of $80,000 and reimbursement of travel costs for board meetings.