Read Tulsa Market Brief December 15 text version

Tulsa Market Brief

Spotlight on the Market

Economists take long view on local economy Tulsa World (OK) ­ December 16, 2011 Jim Huntzinger, executive vice president and chief information officer of Bank of Oklahoma, said he's starting to see some positive signs in the global and local economies. Huntzinger and others spoke before the annual Economic Outlook conference, held Thursday at the Renaissance Hotel & Convention Center and sponsored by the Tulsa Metro Chamber and the Oklahoma State University's Spears School of Business. Employment outlook for Tulsa tied for fifth best Tulsa World (OK) - December 13, 2011 The Tulsa area's employment outlook for the first quarter of 2012 is tied for fifth best in the nation, according to the latest results of the Manpower Employment Outlook Survey. According to the quarterly survey, 13 percent of the companies interviewed plan to hire from January through March, while 2 percent expect to reduce staff. Another 78 percent expect to maintain their current work force levels, and 7 percent are uncertain of their hiring plans. Downtown BA targeted for revival Tulsa World (OK) - December 12, 2011 BROKEN ARROW - The City of Broken Arrow's vision for downtown revitalization includes a military history museum on Main Street, and officials plan to make a significant investment to make that happen. The plan is for the existing Museum of Military History, which operates in a small space at 6953 S. 66th East Ave. in Tulsa, to move to a building owned by Broken Arrow Public Schools at 112 N. Main. City's Sales Tax Revenues Up 14% Tulsa Business Journal ­ December 9, 2011 Mayor Dewey Bartlett said today the City of Tulsa's sales tax revenues for October, collected in November and remitted to the City in December by the Oklahoma Tax Commission, are up 14.1 percent compared to the same month last year. However, a portion of the increase is due to the expiration of a .167 cent sales tax for the 4 to Fix the County funding package. That amount is now added to the City's portion of the 2008 Fix Our Streets funding package and shows up as an increase in the City's revenue. City's Sustainability Plan Wins Silver Award Tulsa Business Journal ­ December 9, 2011 The City of Tulsa's Sustainability Plan has won a Silver Award for the consulting firm that helped create it. URS Corp., under the direction of Mayor Dewey Bartlett, worked with Tulsa's Director of Sustainability Brett Fidler to create the plan that was honored by the American Council of Engineering Companies of Texas in its Engineering Excellence Awards Competition. Oklahoma City and Tulsa named most affordable office markets Journal Record, The (Oklahoma City, OK) - December 8, 2011 Oklahoma City and Tulsa have been ranked by the Building Owners and Managers Association as two of the least expensive office markets in the nation. According to BOMA's 2011 Experience Exchange Report, Tulsa was ranked as the third most affordable market, with an average office rent rate of $13.73 per square foot. Oklahoma City was ranked ninth, with an average office rate of $15.78 per square foot. $36.7M expansion coming to Claremore - Council approves work on electrical substation paving way for new facility Claremore Daily Progress, The (OK) - December 6, 2011 CATOOSA -- Claremore City Council approved construction of a new electrical substation Monday night that will support an anticipated $36.7 million Baker Hughes Centrilift expansion. The facility will be an addition to the Baker Hughes Cenrtrilift facility located at 200 W. Stuart Roosa Drive, according Claremore Electric's Larry Hughes.

Research Wizard Tulsa Market Brief

Tulsa City-County Library System 400 Civic Center Tulsa, OK 74103

Copyright © 2011

December 15, 2011

Phone: 918-596-7991 Fax: 918-596-2598 Email: [email protected]

"Customizing Information to Meet Your Business Needs"

CityPlex sitting pretty: Expansions boost office towers in Tulsa Journal Record, The (Oklahoma City, OK) - November 29, 2011 Two expanding companies and one steady growth engine have boosted operational results for CityPlex Towers, the onceembattled home of Oral Roberts' City of Faith hospital. These gains have allowed the 2-million-square-foot office complex owned by Oral Roberts University to outweigh the more fluid gains and losses many towers charted since the 2008 recession began. Entrepreneurial center to expand Tulsa World (OK) - November 29, 2011 The Forge, a downtown center that provides support to entrepreneurs, is expanding its services and establishing a permanent home at the Wright Building, 115 W. Third St. The business incubator's new site, which is being made possible with help from a $600,000 federal grant from the U.S. Commerce Department's Economic Development Administration, comes in unison with a new partnership with the Tulsa Economic Development Corp. The Journal Record Business Briefs: November 24, 2011 Journal Record, The (Oklahoma City, OK) - November 24, 2011 Three private firms and the University of Tulsa have been approved for funding totaling $207,276 under the Oklahoma Center for the Advancement of Science and Technology intern partnership program. OCAST is Oklahoma's technology-based economic development agency. University faculty and private business leaders direct the efforts of technology-trained, college-level students who participate in the program. `Wave of consolidation': Oil shale properties attract investors to Tulsa-based Samson Journal Record, The (Oklahoma City, OK) - November 23, 2011 Oil prices are at historic levels because of growing worldwide demand, especially in China, India and other developing nations. It is a great time to buy, said Fredric E. Russell, founder of Tulsa-based Fredric E. Russell Investment Management Co. -Shale promises to be big,- Russell said. -The investors do not believe the cycle has hit its peak. The Journal Record Business Briefs: Three State Firms Make Forbes List Journal Record, The (Oklahoma City, OK) - November 17, 2011 Three Oklahoma-based companies were included in the Forbes list of America's Largest Private Employers. Love's Travel Stops of Oklahoma City was ranked seventh, up from 18th last year, with annual revenue of $24.4 billion and 8,000 employees. Love's operates 280 travel centers and 130 tire care centers in 39 states. QuikTrip of Tulsa was ranked 33rd, compared with 37th in 2010, with annual revenue of $8.77 billion and 11,973 employees. Two manufacturers to add 213 jobs in Oklahoma Journal Record, The (Oklahoma City, OK) - November 15, 2011 A Tulsa manufacturer and another in Pryor will be adding 213 jobs over the next three years, according to the Oklahoma Department of Commerce. The Commerce Department said on Tuesday that Word Industries Fabrication LLC will be adding 103 jobs, while American Castings LLC of Pryor will add 110 positions, said Dustin Pyeatt, communications manager for the Oklahoma Department of Commerce. Both companies were accepted into the Oklahoma Quality Jobs Program in October.

Expansions, Openings, Relocations, Acquisitions

Mid-Con Energy goes public Tulsa World (OK) ­ December 16, 2011 Mid-Con Energy Partners LP began trading on the Nasdaq stock market Thursday. The 7-year-old Tulsa-based producer will locate the new master limited partnership's headquarters in Dallas but keep a larger part of its staff and operations centered in Tulsa. Mid-Con decided to become a publicly traded MLP by selling 5.4 million units, or 30 percent of company value. Limco Aairepair to add 150 jobs to its workforce Tulsa World (OK) ­ December 16, 2011 Limco Airepair Inc., the Tulsa aerospace manufacturer, is adding 150 jobs to its 180-member workforce, company and city officials said Thursday. Limco executives, who will elaborate on the company's plans at a news conference Friday, said the new jobs are being added as part of the Oklahoma Department of Commerce's Quality Jobs Program. American Bank & Trust building new headquarters Tulsa World (OK) - December 15, 2011 American Bank & Trust Co. is building a new corporate headquarters on property it owns near 61st Street and Yale Avenue in Tulsa.


TCC entrepreneur program helps local startup Tulsa World (OK) ­ December 15, 2011 Rick Miller's idea for auctioning wrecked and salvaged commercial semi-trucks and trailers has turned into a bona fide business that already is gaining traction. His online auction exchange for salvage and surplus heavy equipment - Tired Iron got off the ground in September with help from his participation in Tulsa Community College's 16-week Launch program for entrepreneurs. Fitness center due to opening spring Tulsa World (OK) - December 14, 2011 Life Time Fitness Inc. plans a spring opening for its southeast Tulsa facility, the national chain's first center in Oklahoma. The company announced plans in June for the $19.5 million center, a 112,000-square-foot building at 10642 S. Memorial Drive, but construction became delayed. The facility will have 400 pieces of cardio equipment, basketball courts, studio rooms, and indoor and outdoor pools, including an outdoor water slide. NGL acquires Pacer for $30.5 million Tulsa World (OK) - December 13, 2011 Propane distributor and retailer NGL Energy Partners LP has executed more of its first-year growth strategy, announcing Monday the acquisition of Pacer Propane for $30.5 million cash and 1.5 million common units of NGL. The Pacer deal is Tulsa-based NGL's third asset acquisition since going public in May. The company purchased Osterman Propane Inc. and the SemStream division of Tulsa-based SemGroup Corp. earlier in the year. World's website among 10 best Tulsa World (OK) - December 11, 2011 The Tulsa World's sports website - - was named one of the 10 best in the country by the Associated Press Sports Editors Web contest. Entries were split into three categories: over 2 million average monthly unique users; 500,000-1.9 million uniques and under 500,000 uniques. The World's site was honored in the 500,000-1.9 million category, along with the Buffalo News, Cleveland Plain Dealer, Columbus Dispatch, Dallas Morning News, Omaha World Herald, Raleigh News and Observer, Salt Lake Tribune, Tampa Tribune and Toronto Globe and Mail. McElroy to seek overseas business Tulsa World (OK) - December 9, 2011 A weak U.S. economy has forced McElroy Manufacturing to re-evaluate its business plan and focus overseas for growth opportunities, says Chip McElroy, president and CEO of the Tulsa-based firm. "The U.S. market is bad, but probably not as bad as some people would have you believe," McElroy said Thursday. "But the international business is robust." McElroy Manufacturing Inc. makes a variety of tools, mostly targeting the energy and mining sectors. Growing by half Tulsa World (OK) - December 9, 2011 Omni Air Transport Inc. is expanding its fleet by 50 percent, a big move for a tiny airline. The Tulsa-based company has acquired two new planes, a 13-passenger Embraer Legacy 600 and a five-passenger twin-propeller Beechcraft Baron BE58, bringing its fleet to six planes. To date the company has done all of its business with four Learjet 45s that hold eight to nine passengers. The larger and smaller planes are a game-changer for the company, said business development director Michael Soriano. With the new aircraft, Omni Air is better situated for larger corporate groups and small business travelers who prefer the convenience of chartered air travel. Baker Hughes plans $36 million expansion Tulsa World (OK) - December 8, 2011 A $36 million expansion at Baker Hughes' Centrilift facility in Claremore will deliver not only scores of short-term construction jobs but also long-term and high-paying professional positions, officials said Wednesday. The growth project at Centrilift became public knowledge Tuesday when the Claremore City Council discussed $3.2 million in costs related to an electrical substation needed to power the expanded research and development operation. Sand Springs-based Webco profits drop 54.8 percent despite 25.4-percent sales gain Journal Record, The (Oklahoma City, OK) - December 7, 2011 A 25.4-percent surge in sales couldn't prevent Webco Industries from a 54.8-percent drop in net income for the first fiscal quarter ended Oct. 31. The Sand Springs-based manufacturer of steel tubing products pinned the drop on $5.6 million spent on capital expenditures during the three months, primarily towards a new factory launch in Sand Springs and new product development. Williams travels to market spinoff WPX Tulsa World (OK) - December 7, 2011 See an investor slideshow offering details on WPX Energy Inc. WPX Energy Inc. CEO Ralph Hill and other top management hit the road Tuesday to pitch the new Williams Cos. exploration and production spinoff to investors across the country. The Tulsa-based natural gas and oil producer also has launched its own website and is traveling to nine cities across the nation.


US Highland selects production facility in Tulsa Journal Record, The (Oklahoma City, OK) - December 7, 2011 US Highland has selected an engineering and production facility in Tulsa, said John R. Fitzpatrick III, president and CEO. The announcement came after one made on Monday that the maker of high-performance motorcycles and power trains is near a three-year, $30 million sales deal with a customer. The facility is important for launching US Highland's production plan, said Fitzpatrick. Video Gaming receives Oklahoma Quality Award Tulsa Business Journal (OK) ­ December 7, 2011 Tulsa's Video Gaming Technologies, the world's largest maker of server-based gaming machines, will be recognized with the Oklahoma Quality Award for Commitment at ceremonies Dec. 8, 11:30 a.m. at the Governor's Mansion in Oklahoma City. The Oklahoma Quality Foundation sponsors the event and administers the Quality Award program, which focuses on organizational self-assessment and self-improvement. Two Tulsa firms plan 542 jobs in Quality Jobs Program Tulsa Business Journal ­ December 6, 2011 The Oklahoma Department of Commerce announced today that 595 new jobs will be created by three companies, two in Tulsa, accepted into the Oklahoma Quality Jobs Program in November. The two Tulsa firms, CFS II Inc. and Panther Energy Co. LLC, plan to create 542 of those jobs. CFS II, which provides debt adjustment, financial counseling, training and new business counseling services, expects to create 500 jobs with a maximum benefit of $8.9 million. Panther Energy Co., which is engaged in the exploration, development and production of petroleum and natural gas, plans to create 42 jobs with a maximum benefit of $2.3 million. First Trinity to increase stake Tulsa World (OK) - December 3, 2011 Tulsa-based First Trinity Financial Corp. has agreed to acquire an additional 12 percent of the issued and outstanding shares of First Wyoming Capital Corp., a Cheyenne, Wyo.-based financial holding company. First Wyoming owns the newly formed First Wyoming Life Insurance Co. If approved, the acquisition of the additional shares would give the Oklahoma insurance company a 21 percent ownership in the Wyoming company. Tulsa's Evergreen Park Apartments sell for $6M Journal Record, The (Oklahoma City, OK) - December 2, 2011 An investment group led by Tulsa's Brent Doeksen paid $6 million for the 257-unit Evergreen Park Apartments. That delivered $23,346 per unit to seller Lenox IX Properties, led by West Springfield, Mass.-based Aspen Square Management, in exchange for the 41-year-old Tulsa apartment complex, its 193,007 square feet having undergone renovation five years ago. ONEOK subsidiary sale set for $22.5M Tulsa World (OK) - December 2, 2011 ONEOK Inc. announced Thursday it has agreed to sell its subsidiary ONEOK Energy Marketing Co. to Constellation Energy Group Inc. for $22.5 million plus working capital. ONEOK Energy Marketing Co. provides physical and financial natural gas products and services to retail customers primarily located in the Mid-Continent and Texas. The business is accounted for in the ONEOK natural gas distribution segment. American Castings hiring Daily Times, The (Pryor, OK) - December 1, 2011 American Castings, LLC, a subsidary of American Cast Iron Pipe Co., has announced it will hire between 50 to 75 employees at the Pryor facility. Hiring may continue into the summer. Ten percent of those hired will be skilled labor with electrical or mechanical backgrounds. General Manager Mike Fuller said 25 positions have been filled. "We are very busy right now. We've never had a time like this," Fuller said. Enercon to move headquarters to Georgia but keep Tulsa office Tulsa World (OK) - November 23, 2011 Enercon Services Inc., an engineering, environmental and technical consulting energy company founded in Tulsa in 1983, is moving its corporate headquarters to Kennesaw, Ga. John Corn, vice president of the company's environmental division, said the impact of the decision in Tulsa will be minimal, with only five accounting jobs moving to Kennesaw, located 30 miles northwest of Atlanta. "The Tulsa office will stay open, and the environmental division will continue to be based here," he said. KKR close to buying Samson Tulsa World (OK) - November 22, 2011 Multiple sources said Monday that Kohlberg Kravis Roberts and Co. is close to buying most of Samson Investment Co.'s assets in a deal reportedly worth $7 billion. CNBC and Bloomberg reported that the New York equity firm likely will acquire the privately held Tulsa oil and gas exploration and production company. Samson celebrated its 40th anniversary last week. The Schusterman family has owned Samson since it was started by Charles Schusterman in 1971.


Racetrack saved with new partnership Tulsa World (OK) - November 22, 2011 The plan that will keep Tulsa Raceway Park open for at least the forseeable future will depend on making the facility about more than just racing. The 45-year-old drag-racing venue, 3101 N. Garnett Road, will continue to host drag races, officials said, but in addition patrons can expect a varied lineup of carnivals, concerts and other family-friendly events. "We want to utilize the area for more than just drag racing," said Keith Haney, one of the park's new owner-operators. Samson celebrates its 40th year Tulsa World (OK) - November 19, 2011 Samson Investment Co. celebrated its 40th year this week amid tremendous growth and perhaps an uncertain future. The Tulsa-based Samson was founded in 1971 by the late Charles Schusterman. He built the company up through a few acquisitions and development of marginal producing properties. Now Samson employs 1,200 people and operates more than 4,000 wells in the U.S. and Gulf of Mexico. Dynasty of music Tulsa World (OK) - November 17, 2011 The Yorks can't imagine anything but a family business. In a time of massive music "superstores," The Music Store has thrived for 40 years and is growing into its fourth generation of management and ownership. Paris is 77, Larry is 57 and Adam is 32. The trio operates one of the longest-running music stores of its kind in the area, if not in the state. Tulsa-based SemGroup rebuffs Plains All American Pipeline Journal Record, The (Oklahoma City, OK) - November 17, 2011 A day after Plains All American Pipeline LP reiterated its intentions to acquire SemGroup Corp., the Tulsa-based midstream energy company rejected it Thursday, saying in a letter that the offer was too low. For months, Plains has sought a hostile $1 billion takeover of SemGroup, making it public in October and offering $24 per share in cash. SemGroup said the unsolicited proposal made on Oct. 6 was $4.72 per share lower than the closing price of SemGroup on Tuesday. Medical office in Broken Arrow sells for $1.9M Journal Record, The (Oklahoma City, OK) - November 15, 2011 A Tulsa partnership tied to an expanding kidney treatment firm paid $1.9 million for a two-story medical office in Broken Arrow. Berkshire Investment Group shelled out $121.33 per square foot to Citizens Security Bank and Trust for the 15,865square-foot building at 4800 W. San Antonio, between 81st and 91st streets on Garnett Road.

Layoffs, Closings, Moves, Restructures

Unsettling time Tulsa World (OK) - December 3, 2011 Last week was an unsettling time for Tulsa County residents. American Airlines sought bankruptcy protection, leaving its future cloudy, and a hearing on the U.S. Postal Service's plan to close its Tulsa mail-sorting facility was held on Thursday. American Airlines, Tulsa County's largest employer, provides the livelihood for at least 7,000 area residents at its maintenance plant. AA future cloudy Tulsa World (OK) ­ November 30, 2011 When AMR Corp., the parent of American Airlines, yielded to overwhelming economic headwinds and filed a bankruptcy petition on Tuesday, the outlook for Tulsa and 7,000 American employees became murky, analysts, industry and local leaders say. The forecast for Tulsa and American's Maintenance & Engineering Center is gloomy when considering airline bankruptcies at Delta, Northwest and United, which slashed in-house maintenance operations and now outsource all heavy maintenance. "In Tulsa, it's going to be tough," said Robert Herbst, founder of and a former American pilot. "American will either outsource maintenance, or maintenance employees are going to have to give up wages and benefits so American can be competitive. Petroleum Club files Chapter 7 bankruptcy Tulsa World (OK) - November 30, 2011 Any hope that the closed-down Petroleum Club would come back has gotten much more distant - the organization has filed for bankruptcy. The petition, filed last week in U.S. Bankruptcy Court in Tulsa, indicates the club will liquidate and pay its creditors under the Chapter 7 code. Assets were listed at $1.38 million, with debts of $158,294. There are 50 to 99 creditors, the filing states. NGL sees $5.4 million net loss Tulsa World (OK) - November 16, 2011 Seasonal propane marketing downturns and acquisition costs clipped NGL Energy Partners LP with a $5.4 million quarterly net loss, the Tulsa-based distributor reported Tuesday. Total revenues exceeded $200 million for the three months ending


Sept. 30. NGL Energy Partners was formed out of the merger of NGL Supply and Hicksgas in 2010. "The net loss for the second quarter is consistent with the seasonal nature of our business," NGL Chief Financial Officer Craig Jones said in a statement.

Current & archive issues available at


Comparative Unemployment Rates

Period 2011 Oct 2010 Oct County % 6.5 7.3 MSA % 6.6 7.5 State % 6.0 6.7 U.S. % 8.5 9.0

Source: U.S. Bureau of Labor Statistics. Rates are not seasonally adjusted.



Tulsa Market Brief December 15

6 pages

Find more like this

Report File (DMCA)

Our content is added by our users. We aim to remove reported files within 1 working day. Please use this link to notify us:

Report this file as copyright or inappropriate


You might also be interested in

Tulsa Market Brief December 15
Enhanced Oil Recovery Potential in the United States
Geologic and Engineering Aspects of Naturally Fractured Reservoirs
OK AP DEC 2007
A Description of Speak Outs in