Ranken Energy denies diesel use
An Edmond company named in an environmental group’s report last week on oil and natural gas producers that used diesel in hydraulic fracturing operations was on the list in error. The Environmental Integrity Project said it identified more than 350 wells in 12 states, including Oklahoma, that had been completed with diesel. Ranken Energy Corp. made the list, but CEO Randy Coy said the company has never done hydraulic fracturing with diesel. He said Ranken’s service company, Basic Energy Services, used an outdated information sheet when it entered information about the company’s operations in FracFocus, an online registry of chemicals used in hydraulic fracturing. In a letter to Ranken, Basic said it has not used diesel in hydraulic fracturing since it was banned by the U.S. Environmental Protection Agency.
Chesapeake hires investor VP
Chesapeake Energy Corp. has hired Brad Sylvester as vice president of investor relations and communications, the company announced Thursday. Sylvester, who joins Chesapeake from Southwestern Energy Co., will report to Chesapeake’s Chief Financial Officer Nick Dell’Osso. “Brad is a highly talented and proven investor relations professional with more than 20 years of solid experience in the exploration and production industry,” Chesapeake CEO Doug Lawler said.
Panhandle Oil official to retire
Panhandle Oil and Gas Inc. Vice President of Land Ben Spriestersbach will retire from the company on Oct. 31, the company announced Thursday. “Ben has been an integral part of the Panhandle team for 12 years,” CEO Michael C. Coffman said in a news release. “His efforts were instrumental in our recent acquisition and his contributions will be missed. All the team at Panhandle wish Ben the best in his retirement.”
High Plains opens CNG fill station
GUYMON — Seaboard Corp. subsidiary High Plains Bioenergy has opened a new fast-fill compressed natural gas station with developer TruStar Energy. The station, which is open to the public, is across the road from High Plains’ processing facility in Guymon. The company produces renewable fuels for Seaboard Foods. Seaboard has been transitioning its fleet to CNG. “CNG benefits the Seaboard Foods integrated food system and helps achieve the company's sustainability goals, providing numerous long-term benefits that are changing the way the trucking industry fuels equipment,” CEO Terry Holton said. The company has logged more than 7 million miles with CNG, which fuels more than 160 vehicles in its fleet.
Williams pays dividend
TULSA — The Williams Cos. Inc. will pay a regular dividend of 56 cents a share on its common stock. That is an increase of nearly 53 percent over the same period of last year, fueled by Williams’ July 1 acquisition of a controlling stake in Access Midstream Partners and its plan to shift to a pure-play general partner holding company. Williams expects to increase its dividend by about 15 percent a year through 2017. Williams has paid a common stock dividend every quarter since 1974. Its next dividend will be paid on Sept. 29.
Hiland, Dakota join transport
Hiland Crude LLC and Dakota Plains Holdings Inc. have agreed to connect some of their oil transportation infrastructure in North Dakota, the companies announced this week. Hiland, a subsidiary of Enid-based Hiland Partners LP, will link its Market Center Gathering System with Dakota Plains’ Pioneer Rail Terminal in New Town, N.D. Construction of the final link is underway. It is expected to be completed by Oct. 31. “Our connection into the Dakota Plains terminal is a continued part of our efforts to cover every element of crude oil transportation in the Bakken,” said Jim Suttle, senior vice president of Hiland Crude. Hiland Partners is a privately held company owned by Continental Resources CEO Harold Hamm.
Panther Co. will work 15K acres
Tulsa-based Panther Energy Co. II LLC is partnering with Carrier Energy Partners LLC to develop about 15,000 acres in three West Texas counties. Carrier will have the right to participate in 49 percent of Panther’s working interest in wells drilled after the participation agreement takes effect next month. “Carrier's non-operated business strategy is highly dependent on the strength and expertise of the operator with whom we partner,” Carrier CEO Mark Clemans said. “Panther has a proven track record and we are excited about our partnership with them for the development drilling projects in West Texas.”
Osage makes switch to operating
Osage Exploration and Development Inc. has completed its transition to an operating company, the California-based company’s chief executive said this week when Osage announced its second quarter earnings. Osage is active in Logan County. CEO Kim Bradford said Osage ended the quarter with interests in 43 non-operated wells and average daily production of 425 barrels of oil equivalent, but its own operated wells did not come online until early July. He said that should bolster the company’s quarterly production and revenue. “We are targeting a 2014 production exit rate that is double our average rate during the second quarter, and the employment of a second rig in Logan County sometime next year,” Bradford said.
Progressive nabs $33M deal
A new $33 million oil and natural gas partnership will develop acreage in Okfuskee County and northwest Kansas. Progressive Equities LLC said it secured funding for the partnership in only 17 days through a subscription process that left a number of investors unable to participate. The project will be managed by Redhawk Resources Management LP. Its members are Progressive Equities President Jack Nichols, Redhawk Resources President Jarrod Rogers and Charles and Chance Culbreath, who are principals of Culbreath Oil and Gas Co., which is the project’s operating partner. The project’s assets include about 22,000 acres in northwest Kansas and about 1,200 acres in Okfuskee County.
From Staff Reports