Columbus Oil president honored
Columbus Oil Co. President Darlene Wallace has been named Member of the Year by the Oklahoma Independent Petroleum Association. Wallace took the reins of the Seminole-based company in 2005 after the death of her husband, Dan, the previous year. She joined OIPA’s Wildcatters Club and later served on the association’s board of directors. Wallace said she joined OIPA to learn about the industry. “I knew nothing. I was a stay-at-home wife,” she said. “I realized I had to get involved. This is important to my business, my industry and my life.” OIPA President Mike Terry said Wallace has become one of the association’s most active members, making the decision to name her member of the year an easy one. “She supports our political advocacy efforts, she’s active in our committees and, most importantly, she wants to build a stronger oil and natural gas industry,” Terry said.
Public utility given award
The Oklahoma Municipal Power Authority this week received the 2014 Public Power Wind Award from the U.S. Department of Energy and American Public Power Association. The award recognizes public utilities that demonstrate leadership in advancing wind power in the United States. Seventeen other utilities have earned the award over the past 12 years. OMPA, which became the first commercial wind power to municipal customers in Oklahoma more than a decade ago, has steadily built its renewable energy portfolio. Wind accounts for about 10 percent of its annual power production.
Panhandle Oil closes Texas deal
Panhandle Oil and Gas Inc. this week closed on its acquisition of assets in south Texas’ oil-rich Eagle Ford Shale. The Oklahoma City-based company spent $80.4 million to acquire a 16 percent nonoperated working interest in more than 11,000 gross acres of leasehold that includes 63 producing wells and 109 undeveloped locations. Another well currently is being drilled by operator Cheyenne Petroleum Co., a private Oklahoma City firm. Panhandle also increased its bank credit facility to $200 million with a current borrowing base set at $130 million.
Newfield to open Okarche office
Newfield Exploration Co. will open an office in Okarche next week to serve its operations on western Oklahoma. The Texas-based company initially will have 10 production employees based in Okarche, but it plans to boost that number as its exploration and production activities in the area increase. The new office covers about 12,000 square feet on 80 acres owned by Newfield. The company currently has three drilling rigs operating in the nearby STACK play, but it will double that figure by next year. It expects to produce 14.3 million barrels of oil equivalent this year from the Anadarko Basin, which includes the STACK and the SCOOP.
Valero Energy completes deal
A 30-mile refined products pipeline and two storage areas in Ardmore were part of a $154 million acquisition completed this week by San Antonio-based Valero Energy Partners LP. The deal is a drop-down transaction with subsidiaries of parent company Valero Energy Corp. Wynnewood Products System connects to Valero’s Ardmore refinery to a pipeline operated by Magellan Midstream Partners. It is the refinery’s primary distribution outlet. Valero Energy Partners also is adding the McKee Crude System and Three Rivers Crude System in Texas.
CNG will be subject of session
The Professional Development Institute at Oklahoma City Community College will offer a four-day session next month on converting vehicles to run on compressed natural gas. The course, which begins July 21, is presented by Gratec and We R CNG. Technicians must have a current Oklahoma CNG license. For more information, contact Jon Clabon at 682-7855 or firstname.lastname@example.org.
From Staff Reports