EnLink to sell $1.2B in senior notes
EnLink Midstream Partners LP is selling $1.2 billion in senior notes, the Dallas-based partnership announced this week. Proceeds will be used to fund a previously announced tender offer for older senior notes, reduce debt and general partnership purposes. EnLink was formed when Devon Energy Corp. combined its midstream assets with Crosstex Energy.
TEEMCO is finalist for awards
Environmental engineering firm TEEMCO is a finalist for three 2014 Oil and Gas Awards, which recognize outstanding achievements in the industry. The awards will be presented at three black-tie galas across the country. “We have become one of the nation’s leading environmental engineering firms and the clear leader in the oil and gas space because of TEEMCO’s dedicated staff and our culture of excellence,” CEO Greg Lorson said. “I am humbled and gratified for our company to be recognized again by the industry at the oil and gas awards.”
Best Welders Supply is acquired
Oklahoma-based Best Welders Supply Inc. is one of two independent packaged gas and welding supplies distributors acquired this week by Praxair Inc. Praxair also acquired Houston-based United Welding Supplies LLC. Terms of the deals were not disclosed, but the two companies Praxair acquired had total sales of about $30 million last year. Best Welders Supply, which has 25 employees, has served the Tulsa area for 50 years. Its headquarters in Tulsa includes a cylinder fill plant, retail store and administrative offices. “We have been steadily growing our packaged and small bulk business in Houston and the Gulf Coast region,” Praxair Distribution Inc. President Scott Kaltrider said.
TULSA — Syntroleum Corp. on Thursday reported a net loss of $6 million, or $23 cents a share, for the fourth quarter. The company lost $5.1 million, or 11 cents a share, in the same quarter of 2012. Syntroleum also earned $6.4 million from discontinued operations last year related to the sale of two pilot plants in Tulsa. Subsidiary Dynamic Fuels, a joint venture with Tyson Foods, lost $1.6 million for the fiscal year that ended Sept. 30. Syntroleum, in December, announced it had agreed to sell the bulk of its assets to Iowa-based biofuel producer Renewable Energy Group Inc.
From Staff Reports