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Oklahoma energy briefs, April 18

Oklahoma energy briefs, April 18
Oklahoman Published: April 17, 2014


Officials dig up utility line spots

State officials are reminding residents to check for underground pipelines or utility lines before they dig. April has been designated as Safe Digging Month by Gov. Mary Fallin. Call Okie, the state’s one-call system, will mark underground facilities for anyone who calls 811 or (800) 522-OKIE. “Many people wrongly think that they should only check if they are digging a deep hole,” Oklahoma Corporation Commission Chairman Bob Anthony said. “You can hit a line even if you’re digging relatively shallow holes, such as those for planting a small tree or a mailbox post. Erosion, soil shifting, and other factors can change how close a line is to the surface.”

Chesapeake joins national group

The board at Chesapeake Energy Corp. joined the National Association of Corporate Directors in the first quarter. Chesapeake was among more than 50 corporate boards to join the organization during the first three months of 2014. “As NACD full board members, these companies demonstrate their commitment to advancing exemplary board leadership,” association CEO Ken Daly said. “Companies’ membership with NACD showcases their directors’ passion for sharpening their strategic agility to drive stakeholder confidence and enterprise sustainability.” The association’s network now includes more than 1,000 full board members ranging from Fortune 50 corporations to small- and mid-cap companies, as well as private companies and not-for-profit organizations.

American Energy hires executive

American Energy Partners LP has hired Curt Launer as its senior vice president of capital formation, the company announced this week. Launer, 58, will maintain an office in New York City as he focuses primarily on direct investor relationships. He is joining the company from Deutsche Bank, where he had been a leading equities research analyst and investment banker.

ONEOK’s dividend shows gain

ONEOK Inc. on Thursday increased its quarterly cash dividend by 40 percent to 56 cents a share. “This latest dividend increase – our first as a pure-play general partner of ONEOK Partners – is further evidence of our ongoing commitment to deliver sustainable, long-term value to our shareholders in the form of increased dividends,” CEO Terry K. Spencer said. “We expect that increased distributions that ONEOK receives from ONEOK Partners, driven primarily by completed capital-growth projects from the partnership’s previously announced $6 billion to $6.4 billion capital-investment program, will strengthen ONEOK’s cash flow available for dividends and enable ONEOK to continue increasing the dividend to shareholders.” The dividend will be paid on May 15, the same day ONEOK Partners will pay its quarterly cash distribution of 74.5 cents a unit.

Osage starts new Logan Co. well

Osage Exploration and Development Inc. began drilling a new horizontal well this week in Logan County. “Our program of drilling, completing, and bringing new wells on line is in full swing,” CEO Kim Bradford said. “Less than eight hours after releasing the rig from the Mississippian well, we were able to spud the new Woodford well.”

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