BUSINESS BRIEFS

Samson board OKs assets sale

TULSA — Samson Resources II LLC said its board of directors has approved the sale of East Texas and North Louisiana assets for $525 million to an affiliate of Houston-based Rockcliff Energy II LLC.

The sale is expected to close by Sept. 29 and involves about 10,000 net acres across East Texas and North Louisiana. Samson will use the proceeds to pay down its outstanding debt of about $215 million. Other proceeds will go toward fees, capital needs in 2018 and possibly a distribution to its equity investors.

“We are very pleased with the outcome of a robust marketing process for our East Texas and North Louisiana assets,” said Joseph A. Mills, Samson’s president and CEO. “Rockcliff Energy is a toptier oil and gas operator with a long successful history in the East Texas basin, and the purchase price is reflective of the quality of the Samson assets in this area.”

With the closing of the sale, Samson will focus on its oil and gas assets in the Powder River and Green River basins in Wyoming, where it has 205,000 net acres.

Marriott opens new Bricktown hotel

Marriott International said Tuesday it opened a new SpringHill Suites by Marriott at 600 E Sheridan Ave., a 124-suite hotel owned by Bricktown Hospitality LLC and managed by Ashton Management Co. of Edmond.

The hotel offers guests convenient access to the Bricktown Entertainment

District, Cox Convention Center, Criterion Concert Hall and the National Cowboy & Western Heritage Museum. Rates begin at $179 per night.

“As a brand opening a new hotel every 10 days on average, we are delighted that the SpringHill Suites Oklahoma City Downtown is the latest addition to our growing number of properties across the United States and Canada,” said Callette Nielsen, vice president and global brand manager, SpringHill Suites.

EARNINGS Blueknight Energy Partners LP

Blueknight Energy Partners LP recorded a second-quarter profit of $6.37 million, up from a loss of $18.9 million one year ago.

After allocating general partner and preferred interest, the partnership recorded a net loss of less than a penny per unit in the most recent quarter, compared to a loss of 71 cents a unit in the year-ago period.

Revenues increased to $43.9 million, up from $43.4 million one year ago. Operating income was $6.5 million, up from an operating loss of $15.3 million in the year-ago quarter. Adjusted earnings before interest, taxes, depreciation and amortization was $19.2 million, up from $16.2 million one year ago.

“Our asphalt terminalling services segment continues to hit on all cylinders in spite of wetter-than-normal conditions in many areas of the country in which we operate facilities,” CEO Mark Hurley said. “Steady customer demand and the addition of nine terminals from Ergon in October 2016 helped drive the

strong results. As we look ahead, we anticipate an even stronger third quarter when we traditionally see increased activity.”

Enable Midstream Partners LP

Enable Midstream Partners LP said revenues and profits rose in the second quarter.

The Oklahoma City-based company said net income was $96 million, or 20 cents per unit, in the second quarter. That compared to net income of $39 million, or 8 cents per unit, in the year-earlier quarter.

Revenues rose to $626 million, up from $539 million in the second quarter of 2016. Distributable cash flow was $156 million, up from $144 million in the year-earlier quarter.

“Enable is on track for another great year in 2017,” CEO Rod Sailor said. “The second quarter marked our sixth consecutive quarter of per-day natural gas gathered volume growth and a record-high quarter for natural gas processed volumes. This growth was driven by the highest level of producer rig activity on our system that we have reported in over two years.”

Enable directors on Tuesday declared a quarterly cash distribution of 31.8 cents per unit payable Aug. 29 to unit holders as of Aug. 22.

ONEOK Inc.

TULSA — ONEOK Inc. recorded a profit of $71.5 million, or 33 cents a share in the second quarter, down from $85.9 million, or 41 cents a share one year ago.

Revenues increased to $2.73 billion, up from $2.13 billion in the yearago quarter. Adjusted earnings before interest, taxes, depreciation, and amortization of $462

million, up from $460 million one year ago.

“Solid second-quarter financial results were led by strong volume growth in our natural gas gathering and processing segment in both the Williston Basin and the STACK and SCOOP areas,” CEO Terry K. Spencer said.

EnLink Midstream Partners LP

EnLink Midstream Partners LP recorded a net income of $32.7 million, up from $3.2 million in the second quarter of 2016. After general partner and preferred interest, the partnership recorded a net loss of less than a penny a unit, compared to a loss of 7 cents a unit one year ago.

Revenues increased to $1.26 billion, up from $1.03 billion in the year-ago period. Adjusted earnings before interest, taxes, depreciation and amortization was almost $210 million, up from $187 million in the second quarter of 2016.

EnLink executives raised the company’s full year 2017 net income guidance to a range of $116 million to $148 million, up from the previous range of $80 million to $120 million.

EnLink Midstream LLC

EnLink Midstream LLC on Tuesday reported a secondquarter profit of $27.1 million, or 3 cents a unit, up from a net income of $1.2 million, or a penny a share, in the year-ago period.

Revenues increased to $1.26 billion, up from $1.03 billion one year ago. Cash available for distribution was $52.6 million, up from $49.8 million in the second quarter of 2016. The company reaffirmed its full-year 2017 financial guidance.