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Oklahoma business briefs for Sept. 18

Oklahoma business briefs
Published: September 18, 2012
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OKLAHOMA BRIEFS

Blueknight names new CEO

Blueknight Energy Partners LP has named a new chief executive. Mark Hurley will take over this week as CEO of the Oklahoma City-based midstream company, Blueknight's general partner announced Monday. Hurley, 53, will replace James C. Dyer IV, who notified Blueknight's board of his plans to retire in January. “As we look to the future, we are excited about the experience and vision that Mark brings to Blueknight, and we are confident that under his leadership Blueknight will continue to thrive,” board Chairman Duke Ligon said. Hurley currently is senior vice president of crude oil and offshore at Enterprise Products LLC. He joined Enterprise in 2010 after about 18 years with Shell. Blueknight also announced Vitol Inc. executive Francis Brenner will succeed Dyer on the company's board.

ONEOK completes repurchasing

ONEOK Inc. announced Monday that is has completed its $150 million accelerated share repurchase program. Goldman Sachs delivered close to 3 million shares to ONEOK under the terms of the repurchase agreement. “By completing our previously announced share repurchase program for this year, we provided immediate value to our shareholders and further solidified our position as an attractive investment option to investors,” CEO John W. Gibson said. The program, which was funded by the company's available cash and short-term borrowings, is expected to leave ONEOK with about 211 million shares outstanding.

From Staff Reports