Mammoth Energy announces growth of engineering services company
OKLAHOMA CITY — Mammoth Energy Services Inc. announced that its wholly owned subsidiary, Aquawolf LLC, has been awarded a contract by a major utility to provide engineering and design services.
The three-year contract is expected to generate up to about $40 million in revenue over the contract term.
Aquawolf has grown significantly since operations began in September 2019 and now has offices in Denver, Colorado, San Diego, California and Vancouver, Washington.
Aquawolf provides the following engineering services: Electrical transmission and distribution, natural gas, generation and renewables, electric substations, owners engineering, project management, power system studies, and third-party attachments.
Laredo Petroleum reschedules earnings release
TULSA — Laredo Petroleum Inc. announced it is rescheduling the release of its fourth-quarter financial and operating results and conference call due to the impacts of severe winter weather in Oklahoma and Texas.
The resulting hazardous travel conditions and power outages are impacting both field and corporate operations and the ability of Laredo’s team members to work safely.
The new release date is after the market close Monday and the conference call will be at 7:30 a.m. Tuesday. To participate on the call, dial 877-930-8286 (international dial-in 253-336-8309), using conference code 7561618, or listen to the call via laredopetro.com under the tab for “Investor Relations.”
Laredo Petroleum, Inc. is an independent energy company with headquarters in Tulsa. For more information, call laredopetro.com.
Devon Energy announces variable cash dividend for stockholders
OKLAHOMA CITY — Devon Energy Corp. announced that its board of directors has declared a $128 million variable cash dividend in the amount of $0.19 per share based on the company’s pro forma fourth-quarter financial results.
The variable dividend is in addition to Devon’s previously declared fixed quarterly dividend of $0.11 per share. Both the fixed and variable dividends are payable March 31 to shareholders of record at the close of business March 15.
The company’s “fixed plus variable” dividend framework was implemented following closing of the merger with WPX Energy on Jan. 7. The cash-return strategy is designed to pay a sustainable fixed dividend and evaluate a variable dividend on a quarterly basis.
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