Oklahoma energy business briefs, Jan. 25

Oklahoma energy business briefs, Jan. 25
Modified: January 24, 2013 at 8:28 pm •  Published: January 25, 2013
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Ala. governor is new chairman

Alabama Gov. Robert Bentley has been named chairman of the Interstate Oil and Gas Compact Commission for 2013. The Oklahoma City-based group promotes conservation and efficient recovery of domestic oil and natural gas. “A strong energy supply is crucial for job creation, for economic stability and for making oil and natural gas more affordable,” Bentley said. “We must reduce our dependence on foreign oil while making wise use of our domestic energy resources. As chairman of the IOGCC, I will work closely with other states on policies that help us achieve that goal.” Oklahoma Energy Secretary Mike Ming is the group's second vice chairman.

Blueknight plans cash payout

Blueknight Energy Partners will pay a quarterly cash distribution of 11.5 cents a unit, the partnership announced this week. That is a 2.2 percent increase over the previous quarter. The distribution will be paid on Feb. 14.

Rose Rock to boost distribution

Rose Rock Midstream LP on Thursday announced it will pay a cash distribution of 40.25 cents a share on Feb. 15. That is an 11 percent increase over the previous quarter. “We are pleased to announce the fourth consecutive increase in the distribution to RRMS limited partner unit holders since our initial public offering in December 2011,” CEO Norm Szydlowski said.

Osage reports well production

Osage Exploration and Development Inc. achieved one-day production of 623 barrels of oil equivalent from its latest Horizontal Mississippian well in Logan County, the California company announced this week. The well, which had its first oil sell Dec. 30, has produced more than 6,700 barrels of oil equivalent to date, with crude oil accounting for more than 90 percent of its production. “We are very pleased with the initial production of the Krittenbrink 1-1H and with the early results of our accelerated drilling program,” CEO Kim Bradford said. Osage and its partners intend to drill more than 20 wells in the area this year.

From staff reports