OKLAHOMA BRIEFS
Oil, gas rig count slips in Oklahoma
The number of rigs drilling for oil and natural gas increased nationwide but slipped in Oklahoma this week, according to Baker Hughes.
Oklahoma’s count fell by three this week to 124. The count is up 82 percent from 68 one year ago. The state’s Cana Woodford basin remained the country’s third most active field despite giving back one rig to 62, up from 35 one year ago.
Nationwide, the rig count grew by five this week to 940, which is up 80 percent from 522 one year ago. The number of rigs drilling for oil increased by six this week to 750, while the natural gas rig count slipped by one to 189. One rig was listed as “miscellaneous.”
Texas remained the country’s most active driller despite giving back two rigs this week, slipping to 451. Utah gained fours rigs this week while Louisiana added two and New Mexico and North Dakota each gained one.
JPMorgan Chase promotes Stephenson
JPMorgan Chase has promoted Bobby Stephenson to be commercial banking’s middle market banking market executive for Oklahoma City. Stephenson has more than 20 years of experience in banking, including 17 years with Chase and its predecessor, Bank One.
He has served middle market companies across various industries in Texas, Oklahoma and Louisiana.
Stephenson earned a bachelor’s degree in accounting from Texas Tech University and a MBA from Indiana University.
Samson announces assets sale to Rockcliff
TULSA — Samson Resources II LLC has closed the previously announced sale of its east Texas and north Louisiana assets to Houston-based Rockcliff Energy II LLC for $504 million, the Tulsa company said Friday.
Samson said it will use the money to repay $214 million in debt.
The company also said it will distribute $250 million to shareholders in the form of a special distribution of $11 per class A unit, payable Oct. 31 to unit holders as of Oct. 17.
Samson will now focus its efforts on developing its oil and gas assets located in the Powder River and the Green River Basins of Wyoming, the company said.
Samson owns 146,000 net acres in the Powder River Basin and 59,000 net acres in the Green River Basin.