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Plugging In business briefs for Nov. 22

Plugging In business briefs for Nov. 22
Published: November 22, 2013


Energy survey touts Oklahoma

Oklahoma again ranked as the most attractive jurisdiction for oil and natural gas investment in the world, according to the Fraser Institute's 2013 Global Petroleum Survey. “Oklahoma has been and will continue to be our nation's leading energy-producing state,” Oklahoma Independent Petroleum Association President Mike Terry said. “The oil and natural gas produced here powers our country, and the Oklahoma-based companies involved in the oil and natural gas industry have proven to be worldwide leaders and innovators.” He said the Fraser Institute recognized Oklahoma for state policies and regulations that encourage oil and gas investment. “Oklahomans, including elected officials and policymakers, understand the impact this industry has on employment and the overall economic health of the state,” Terry said. “Twenty-seven percent of taxes paid in Oklahoma come from the oil and natural gas industry. One out of every three dollars spent in Oklahoma comes from the industry, and one out of every six jobs is tied to the exploration and production of oil and natural gas.”

Board celebrates anniversary

The Oklahoma Energy Resources Board marked its 20th anniversary this month. OERB was formed in 1993 when oil producers and royalty owners worked with the Legislature to create an entity to promote the oil and natural gas industry through student education and well-site restoration. “The creation of the OERB was such a milestone in the history of the oil and natural gas industry in Oklahoma,” said Oklahoma Independent Petroleum Association President Mike Terry, who was OERB's original director. “At the time, there really wasn't anything like it anywhere in the U.S., let alone in Oklahoma. So to be a part of it from the ground up has been the highlight of my career.” OERB, which is funded by voluntary assessments on oil and natural gas produced in Oklahoma, has reached more than 1 million students with its education programs and cleaned up more than 13,000 abandoned well sites over the past two decades.

Commitments due for pipeline

Magellan Midstream Partners LP is once again giving shippers more time to commit to using a potential pipeline that would carry refined petroleum products in Arkansas. The proposed line would transport up to 750,000 barrels of gasoline, diesel and jet fuel a day from Magellan's Fort Smith terminal to Little Rock. Officials remain optimistic about the prospects for the project, given their advanced discussions with potential shippers. Binding commitments are due by Dec. 13 after the latest extension, the third for the project's open season.

Lakewood Midstream expanding

Lakewood Midstream and Energy Spectrum Capital have acquired three companies to help expand its footprint as a maintenance, transport and disposal service for energy producers in western Oklahoma and west Texas' Permian Basin. “Challenges the crude oil producers and terminal operators face regarding basic sediment and water disposal varies,” Lakewood CEO Tim Purcell said. “We have the technology as well as knowledge to service their vast array of needs. Our customers will benefit greatly from Lakewood's cost-effective, environmentally compliant approach.” Terms of the deals to acquire BS&W Solutions LLC, West OK Disposal LLC and the assets of West OK Trucking Inc. were not disclosed.

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