Funds to help with heating bills
Oklahoma has received a limited amount of funds to help low-income residents with their winter heating bills, the state Department of Human Services announced Thursday. DHS will begin accepting applications for the federal Low-Income Home Energy Assistance Program funds on Dec. 10 at its county offices. The state has about $8 million for this year's winter heating program.
Equal Energy plans dividend
Equal Energy Ltd. will pay a cash dividend of 5 cents a share on its common stock for the fourth quarter. The company, which moved its headquarters to Oklahoma City from Calgary, Alberta, earlier this year, will pay its dividend Dec. 20.
MC Petroleum wins honor
Pryor's MC Petroleum recently received a Circle of Excellence Award from industry giant Exxon Mobil. The award is given to the nation's top 20 distributors, based on business excellence and outstanding achievement in volume, growth and best practices.
PetroTech exceeds schedule
PetroTech Oil and Gas Inc. is ahead of schedule in its Nowata Lease operations in Oklahoma, the Texas-based company announced this week. Three reworked gas wells are being put into production after tank batteries, roads and new pipeline were installed. “The company is planning based on the engineering reports to do up to three new drills, on the same Nowata Lease,” President Eddie Schilb said. “This would be an added revenue stream that was not expected from this lease initially, and plans for the first new drill could bring in $50,000 a month” if it produces 20 barrels of oil a day as expected.
Company to treat coal waste
Waste Management Inc. will provide coal combustion product marketing and on-site landfill management services to an American Electric Power coal plant in Oologah and two others in Texas. Harry Lamberton, vice president of the Waste Management's energy services division, said the company has a patented system to treat coal plant waste to prepare it for marketing. He said fly ash is sold to the construction industry, which mostly uses the material in concrete. If the ash is not reused, it is sent to landfills for disposal.
Samson, Endeaver make deal
TULSA — Samson Exploration LLC has formed a joint venture with Endeavor International Corp. to develop the Houston-based company's upstream and midstream assets in Pennsylvania's Marcellus Shale. Terms of the deal were not disclosed. The partnership plans to get its start by completing three previously drilled horizontal wells.
Panther Energy gets funding
TULSA — Panther Energy Co. II LLC has received an initial equity commitment of $205 million from members of its management team and Kayne Anderson Energy Fund VI. The Tulsa-based company also has the option to exercise up to $250 million in incremental commitments from co-investors. Panther Energy is looking for opportunities to lease acreage positions with significant resource potential. The company is led by CEO Benny Mullennix and Chief Operating Officer Ray Grossman, who pursued a similar strategy at Panther Energy Co. LLC until it was sold earlier this year. “Panther II will build on the knowledge and skill gained through Panther I and is prepared to look at any and all acquisitions or joint ventures,” Mullennix said.
Expo unveils its new logo
TULSA — The Pipeline and Energy Expo this month unveiled a new logo to reflect the annual event's focus on Oklahoma's leadership role in a forward-thinking energy industry. “The new TPE logo really speaks to where we are going as an industry,” Chairman Bill Solomon said. “We're not just zeroing in on oil and gas. We're also looking at the importance of water energy, wind energy and clean energy, and how these sources factor as a whole into the success of the Oklahoma business community. The very best companies in these business sectors are in Oklahoma, and play a key role in the support of TPE.” Building on the success of prior events, the expo, formerly known as the Tulsa Pipeline Expo, also is offering year-round learning and networking opportunities intended to benefit energy-related service providers doing business in Tulsa, Oklahoma City and across the state.
From Staff Reports