Atlas begins service at plant
Atlas Pipeline Partners LP has brought its Stonewall cryogenic processing plant into service in southern Oklahoma, the Philadelphia-based partnership announced Thursday. The plant, built as part of a joint venture with MarkWest Energy Partners, will add capacity to Atlas’ SouthOK system in the Arkoma Woodford Shale. Atlas also is accelerating plans to increase capacity at Stonewall due to increased production in the Arkoma Basin and South Central Oklahoma Oil Province. The plant can process up to 120 million cubic feet of natural gas liquids a day. It is expected to be fully operational in a few days.
Former Gov. Walters to speak
Former Oklahoma Gov. David Walters will speak at a community forum in Tulsa next week on mitigating the effects of climate change. Walters, president of Walters Power International, will discuss trends in using renewable power sources as an alternative to fossil fuels, according to organizers. The 90-minute forum will begin at 7 p.m. Wednesday at All Souls Unitarian Church. It is the final presentation in the church’s dialogue on climate change.
Newfield plans to double output
Newfield Exploration Corp. plans to spend $400 million this year on its operations in Oklahoma’s Anadarko Basin, the Texas-based company announced this week. Newfield is operating eight rigs in the South Central Oklahoma Oil Play and STACK plays with plans to drill about 70 wells. That is expected to help the company double its production in the state to nearly 50,000 barrels of oil equivalent a day by the end of the year. Newfield produced an average of 29,500 barrels of oil equivalent a day from the Anadarko Basin in the first quarter. The company holds more than 225,000 net acres in the area, which has multiple “stacked” geologic formations.
Electric firm announces honor
Municipal Electric Systems of Oklahoma this week honored longtime Kingfisher City Clerk Bill Tucker for his outstanding contributions to local government. Tucker received the Marvin Hicks-Al Middleton Meritorious Service Award at Tuesday’s 2014 Public Power Conference. He has worked for the city of Kingfisher for more than 28 years.
Summit ESP hires vice president
TULSA — Equipment manufacturer Summit ESP has hired industry veteran Steve Ross as its vice president of finance. Ross has 25 years of experience as a chief financial officer at international service and manufacturing companies. He most recently served as executive vice president and chief financial officer of GE Oil and Gas ESP, formerly Wood Group ESP. Summit designs, manufactures, installs, services, and monitors a broad fleet of electric submersible pumps across North America. The company has service centers in Tulsa, Odessa, Texas, and Powell, Wyo.
Gas association elects officers
The Gas Processors Association and Gas Processors Suppliers Association elected new officers earlier this month at their annual conference in Dallas. Crestwood Midstream Partners executive Joel Moxley will serve a second term as chairman of the trade association representing operating companies in the midstream sector. MarkWest Energy Partners executive John Mollenkopf was chosen as chairman-elect for another term, with Energy Transfer Partners’ Rick Cargile, DCP Midstream CEO Wouter van Kempen and Superior Pipeline Co. executive Bill Ward tabbed as vice chairmen. The association’s sister organization represents members of service and supply companies in the midstream industry. Its new officers are President David Bardeen of Ariel Corp., First Vice President Sean Sullivan of Elkhorn, Second Vice President Steve Tzap of ZAP Engineering and Construction Services and Treasuer Stan Dorak of Coastal Chemical.
Williams Cos. Inc.
TULSA — The Williams Cos. Inc. on Thursday reported net income of $140 million, or 20 cents a share, for the first quarter. That is down from $161 million, or 23 cents a share, in the same period of last year due primarily to the $86 million write-off of developmental costs associated with Williams’ involvement in the proposed Bluegrass Pipeline, but Williams is not abandoning the project. “We believe the Bluegrass Pipeline project remains the best long-term solution in the marketplace for transporting NGLs (natural gas liquids) from the northeast to the Gulf Coast and we continue to pursue support for the project,” CEO Alan Armstrong said. “However, we are exercising financial discipline by suspending capital expenditures as we seek to secure the necessary customer commitments to move forward. Williams will focus its capital investments on the large portfolio of investment opportunities where the returns are more attractive relative to risks.” Armstrong said Williams’ core businesses performed well in the first quarter, as the company continued to post significant increases in fee-based revenue.
Williams Partners LP
TULSA — Williams Partners LP posted net income of $352 million, or 36 cents a unit, for the first quarter, the partnership reported Thursday. That is up from $344 million, or 50 cents a unit, in the same period of 2013, thanks to a 9 percent increase in fee-based revenue. “Williams Partners’ performance was strong in the first quarter,” CEO Alan Armstrong said. “Our operations performed well during the harsh winter, as we continued our trend of posting significant quarterly increases in fee-based revenues. From an execution perspective, we completed or made significant progress on several large-scale projects in the first quarter.”
From Staff Reports