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Oklahoma business briefs

Oklahoma business briefs
Oklahoman Published: November 3, 2011

In brief

CVR makes


CVR Energy Inc. has struck a deal to acquire Denver-based Gary-Williams Energy Corp., its Wynnewood refinery and related assets for $525 million plus about $100 million in working capital. CVR Energy, which is based in Sugar Land, Texas, will fund the acquisition with cash and about $250 million of additional debt financing. “The acquisition of these high-quality and recently upgraded refinery assets is compelling for CVR Energy in strategic, financial and operational terms, and will create shareholder value both in the near term and for years to come,” CEO Jack Lipinski said. The Wynnewood refinery, which can process up to 70,000 barrels of oil per day, will push CVR Energy's processing capacity to more than 185,000 barrels per day.

Bank joins


First American Bank has joined forces with Citywide Mortgage, the Norman-based bank announced Wednesday. “As we searched for a partner to assist us with mortgage lending, Citywide was the obvious choice since their customer service philosophy mirrored ours and Citywide has the ability to get loans completed for their customers in a fast and efficient manner,” First American President Neil Schemmer said. Mortgage loan originators will office at banking centers in the metro area and travel to other sites as needed to provide personal service, the bank said.


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