FYI: Business
BY Staff and Wire reports
Saturday, March 09, 2013
3/09/13 at 3:07 AM
State drilling rig count drops by seven to 180
The number of drilling rigs actively exploring for oil or natural gas in Oklahoma fell by seven this week to 180, Baker Hughes Inc. reported Friday.
The tally is down 15 from a year ago, when it was 195.
Nationwide, the net number of active drilling units fell by five this week to 1,752, according to Houston-based Baker Hughes' website.
A year ago, the U.S. rig count was 1,973.
Of the rigs operating across the country this week, 1,341, or 77 percent of the total, were drilling for oil, while 407 were exploring for gas. Four rigs were listed as miscellaneous.
Friday on the New York Mercantile Exchange, benchmark crude oil for April delivery rose 39 cents to settle at $91.95 a barrel.
Natural gas rose 5 cents to finish at $3.63 per 1,000 cubic feet.
KKR & Co. acquiring industrial pump maker
Industrial pump maker Gardner Denver Inc. of Wayne, Pa., has agreed to be acquired by Kohlberg Kravis Roberts & Co. for about $3.73 billion.
Under the terms of the agreement, the New York-based investment firm will acquire the manufacturer for $76 per share. That represents a 3 percent premium over the company's Thursday closing stock price and a 39 percent premium over its closing stock price on Oct. 24, the day before it announced it was exploring a possible sale.
The companies valued the deal at $3.9 billion including the assumption of debt.
The deal has been approved by Gardner Denver's board but remains subject to shareholder and regulatory approvals. It's expected to close in the third quarter.
AT&T Mobility, labor union reach agreement
AT&T Mobility has reached a tentative agreement with a union representing more than 20,000 employees across the country.
The company said Friday that the agreement includes general wage increases in each year of the four-year contract and maintains pensions for all employees, plus retirement savings plans, with no changes. Health care and other benefits are bargained separately.
AT&T's contract with the Communications Workers of America covers employees across much of the country. It will be submitted to the CWA's membership for a ratification vote in coming days.
Associated Images:
|
