Magellan buys pipeline system
TULSA — Magellan Midstream Partners LP closed on its acquisition of Rocky Mountain pipeline assets from Plains All American Pipeline LP. The pipeline system includes about 550 miles of common carrier pipeline that distributes refined petroleum products in Colorado, South Dakota and Wyoming, plus four terminals with nearly 1.7 million barrels of storage. “This Rocky Mountain pipeline system is a strategic fit with Magellan's existing asset footprint,” CEO Michael Mears said. Magellan funded the $135 million purchase price primarily with proceeds from the partnership's recent debt offering.
Williams completes $1B offering
TULSA — Williams Partners on Friday announced that it has completed a $1 billion offering of senior notes. The partnership plans to use proceeds from the offering to repay debt, fund capital expenditures and for general corporate purposes.
LSB adds new board member
Oklahoma City University President and CEO Robert Henry, 60, will join the board of directors for LSB Industries Inc. LSB Industries' directors voted to add Henry to the board Thursday. Henry served on the U.S. 10th Circuit Court of Appeals from 1994 until 2010, when he was chief judge. He was dean and a professor for the Oklahoma City University School of law from 1991 to 1994. Henry served as Oklahoma attorney general from 1987 to 1991.
OCCC hosts productivity program
Project managers will deliver Lean Sigma Black Belt Project presentations 1 to 3 p.m. Nov. 25 in the John Massey Center, Room 131 on the campus of Oklahoma City Community College. Participants from various businesses will discuss their industry-specific projects and share how they are boosting customer satisfaction and company profitability. The Lean Sigma program stresses improving productivity, reducing waste, variation and defects. For more information or to RSVP, to the Nov. 25 presentation, contact Doralicia Sandoval at 682-7858, or firstname.lastname@example.org.
Golden West planning wind farm
An Illinois company is seeking approval from local officials in Colorado to build a $400 million wind farm there that would generate electricity for utility giant Xcel Energy Inc. Golden West Power Partners LLC of Moline, Ill. plans for the wind farm to have 147 turbines atop 425-foot towers on nearly 25,000 acres. Electricity generation would begin in mid-2015, said Matthew Cumberworth Sr., Golden West's director of wind energy services. Golden West bought rights in February for the El Paso County project and four others in Iowa, New York and Oklahoma from Clipper Windpower Development Co. Inc., which had been trying to develop the project since 2007.
From Staff Reports