BNK completes sale of assets
BNK Petroleum Inc. has completed the sale of its Tishomingo Field assets in Oklahoma to Exxon Mobile Corp. subsidiary XTO Energy Inc., the California-based company reported this week. The $147.5 million deal allows BNK to pay down its debt, providing the company with future borrowing capacity. “The sale was structured to preserve our rights in the relatively undeveloped Caney and Upper Sycamore formations in the Tishomingo Field, which we believe represent a promising opportunity to develop new oil reserves and production in an area in which we have a successful operating history,” CEO Wolf Regener said.
Three state students' videos win
Three Oklahoma high school students won thousands of dollars in scholarship money this week for their efforts to promote geothermal technology through videos and social media. More than 50 students from Oklahoma and southeastern New Mexico submitted videos as part of the Go Go Geo Scholarship Video Challenge sponsored by the Touchstone Energy Cooperatives and several geothermal manufacturers. Stillwater High School senior Ean Bonjour earned $10,000 in scholarships for winning the video competition. Casee Cole, a junior at Pond Creek-Hunter Junior-Senior High School, finished second, earning $6,500. Third-place finisher Austin Branch, a senior at Norman High School North, received $5,000 in scholarships. Their videos are posted at gogogeochallenge.com.
Badger acquires Tulsa company
Badger Midstream Energy LP has completed its acquisition of Midstream Energy Services, a private company based in Tulsa, due to a $24.1 million equity investment from U.S. Capital Advisors LLC. Houston-based Badger Midstream will make Midstream Energy Services part of its base set of assets.