Plugging In Oklahoma business briefs for April 26

Plugging In Oklahoma business briefs for April 26
Published: April 26, 2013
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PLUGGING IN

OERB adds director to board

Marathon Oil Corp. executive Wade D. Hutchings has been added to the board of directors for the Oklahoma Energy Resources Board. Hutchings is the regional vice president of Marathon's Mid-Continent asset team, which oversees operations in Oklahoma, east Texas, north Louisiana and western Colorado. “Mr. Hutchings' combination of experience will be very beneficial to our board,” OERB Executive Director Mindy Stitt said.

SandRidge reports distributions

Three SandRidge Energy Inc. trusts announced their quarterly distributions on Thursday. SandRidge Permian Trust will pay 51.2 cents a common unit and 35.3 cents a subordinated unit on or before May 30. SandRidge Mississippian Trust I will pay 59.04 cents a unit. SandRidge Mississippian Trust II will pay 55.8 cents per unit.

Rose Rock distribution rises

Rose Rock Midstream LP will pay a cash distribution of 43 cents a unit for the first quarter, the partnership announced Thursday. That distribution is about 15 percent more than Rose Rock paid in the same period of 2012. “We are pleased to announce the fifth consecutive increase in the distribution to RRMS limited partner unit holders since our initial public offering in December 2011,” CEO Norm Szydlowski said. The distribution will be paid May 15.

Magellan boosts distribution

Magellan Midstream Partners LP has boosted its quarterly cash distribution to 50.75 cents a unit, the partnership announced Thursday. The distribution payable May 15 is 21 percent higher than the same period of last year. This is Magellan's 44th distribution increase since its initial public offering in 2001.

Magazine honors Chesapeake

Chesapeake Energy Corp. has been named Military Times magazine's top veteran employers of 2013. Chesapeake was the highest ranking exploration and production company on the magazine's list, ranking 21st out of 53 companies overall. “Chesapeake works hard to recruit and retain veterans as we recognize them to be among the best employees in our industry,” said Martha A. Burger, Chesapeake's senior vice president of human and corporate resources. “Veterans are team players, have outstanding leadership skills and are dedicated to doing their jobs right — all qualities that are rewarded at Chesapeake. We are proud to create a culture that not only finds jobs for our returning military men and women, but helps them build careers and adapt to their civilian lives.”

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