Natural gas midstream company Oneok Inc. on Monday announced that it has agreed to purchase Magellan Midstream Partners LP for $18.8 billion, giving the Tulsa-based firm entry into the transportation of crude oil and refined products. Under the deal, Oneok would acquire all outstanding units of Magellan in a cash-and-stock transaction, resulting in a combined…
Articles from Tulsa
Helmerich & Payne Sees Strong Rig Demand in North America, Growing International Business
With oil and natural gas development rising, Tulsa-based driller Helmerich & Payne Inc. (H&P) is on course to achieve the best economic returns in eight years, CEO John Lindsay said recently. “We are beginning to recognize economic returns at levels that we have not experienced since 2014,” Lindsay said during the fiscal fourth quarter quarter…
SemGroup Builds Mississippian Services in Chesapeake Deal
Tulsa-based midstream operator SemGroup on Wednesday agreed to a $300 million cash price for Chesapeake Energy Corp.’s interests in subsidiary Mid-America Midstream Gas Services LLC, that comes with a 20-year gathering and processing contract for 540,000 net acres in the Mississippian Lime play.
Randy L. Limbacher, former chairman, CEO and president of Rosetta Resources Inc., is taking the helm of Tulsa onshore operator Samson Resources Corp. Limbacher, who has 32 years in the exploration business, ran Rosetta from November 2007 until the end of February. He previously was president of exploration and production in the Americas for ConocoPhillips and worked at predecessor Burlington Resources Inc. for 20 years.
Randy L. Limbacher, former chairman, CEO and president of Rosetta Resources Inc., is taking the helm of Tulsa onshore operator Samson Resources Corp. Limbacher, who has 32 years in the exploration business, ran Rosetta from November 2007 until the end of February. He previously was president of exploration and production in the Americas for ConocoPhillips and worked at predecessor Burlington Resources Inc. for 20 years. “With positions in some of the best plays in North America, a dedicated team of talented executives, and the backing of leading energy investors, Samson is well positioned to begin its next phase of growth,” said Limbacher.
Niobrara Gas Gusher Found in Colorado, WPX Says
One of the 10 largest U.S. natural gas producers, Tulsa, OK-based WPX Energy Inc., said Monday that its Niobrara formation discovery well in the Piceance Basin of western Colorado has exceeded 1 Bcf of production in a little more than 100 days of operation.
Energy States Mayors Urge DOE to Allow LNG Exports
In a move timed to coincide with the commencement of the U.S. Conference of Mayors Thursday in Washington, DC, Tulsa, OK, Mayor Dewey Bartlett is leading a charge for the exportation of liquefied natural gas (LNG).
QEP Energy Adds Another Bakken Property from Unit Corp.
Tulsa, OK-based Unit Corp. said Friday its petroleum subsidiary has closed a previously announced sale of a little more than one-third of its interest in Bakken Shale properties to QEP Energy for $228 million. The deal was final as of July 1, 2012.
Partners Slate $500M for NGL Midstream in Liquids-Rich Plays
Investment funds affiliated with Riverstone Holdings LLC, and Kaiser Midstream, a midstream services company owned by Tulsa, OK, billionaire George B. Kaiser, are partnering with Sage Midstream LLC to form a new company with up to $500 million of equity commitments.
KKR Buys Barnett, Arkoma Properties from WPX
Kohlberg Kravis Roberts & Co. LP (KKR) and affiliates have agreed to pay $306 million to acquire Barnett Shale and Arkoma Basin properties from WPX Energy.