City exec leads new company
Oklahoma City energy executive David Le Norman is heading Templar Energy LLC, a new exploration and production company created by global investment firm First Reserve Corp. “We have been focused on upstream investing across North America for thirty years, and we count David and his team among the best we have partnered with,” said Mike France, managing director of First Reserve. “We look forward to pursuing an E&P growth strategy for Templar Energy in liquids-rich basins, working alongside a team with proven abilities to execute strategically and operationally in various regions.” Templar's first acquisition was in Oklahoma's Anadarko Basin, with 7,000 net acres in Ellis and Rogers Mills counties with average production of about 1,500 barrels of oil equivalent in October.
Williams Cos. announces dividend
TULSA — The Williams Cos. Inc. will pay a regular dividend of 33.875 cents a share on its common stock, the company announced Thursday. That is 4.2 percent higher than the previous quarter. The dividend will be paid on March 25. Williams has paid a common stock dividend every quarter since 1974.
O-Tex uses new cement method
DUNCAN — O-Tex Holdings Inc. performed its first oil-field cementing job in November using the first dual-fuel cementing unit in the United States powered by compressed natural gas, the company announced this week. The cement pump consists of twin 525-hydraulic-horsepower engines with 600-horsepower short pumps capable of pumping at rates up to 12 barrels a minute, with maximum pressure of 10,500 psi per pump. “We are pleased and excited to introduce the United States' first CNG-powered cementing unit,” CEO Brent Barbour said. “O-Tex is a forward-thinking company dedicated to serving the domestic cementing market and to leading the industry in customer service and in creating innovative solutions for the ever-changing market.” O-Tex, which has a dedicated CNG shop, plans to convert its fleet of pump trucks, bulk trailers, tractors and light duty vehicles to dual fuel technology.
From staff reports