OGE Energy completes stock split
OGE Energy Corp. completed a two-for-one stock split Tuesday that occurred before the market opened. Shareholders approved the split at OGE Energy's annual meeting in May, clearing the way for the company to increase the number of authorized common shares to 450 million. OGE Energy, the parent company of utility Oklahoma Gas and Electric Co. and pipeline company Enogex, closed Tuesday at $34.20, up 17 cents a share.
Equal Energy added to index
Equal Energy Ltd., which recently moved from Calgary to Oklahoma City, has been added to the Russell 3000, Russell Global and Russell Microcap indexes, the company announced Tuesday. Officials said the Russell indexes, which are reconstituted annually, provide a comprehensive barometer for evaluating stock performance in the U.S. and worldwide equity markets. “We are pleased to be included in the three Russell indexes,” CEO Don Klapko said. “This inclusion is another benefit of last year's decision to become a U.S. domiciled company focused on maximizing the value of Equal's growing Hunton play in central Oklahoma.” Equal's shares are listed on the New York and Toronto stock exchanges under the symbol “EQU.”
NGL doubles marine fleet
TULSA — NGL Energy Partners LP has acquired the assets of Crescent Terminals LLC and partnership interests of Cierra Marine LP and its affiliated companies. The deal doubles NGL Energy's fleet of marine equipment, adding four additional tow boats and seven crude oil barges to its logistics business. NGL Energy's new terminal facility will add 130,000 barrels of oil storage capacity in south Texas' rapidly developing Eagle Ford Shale, with the ability to transport up to 20,000 barrels a day to markets along the Gulf Coast.
From Staff Reports