Business cover briefs for Jan. 7, 2020
Energy Transfer layoff announced
Energy Transfer LP has notified the Oklahoma Office of Workforce Development it is laying off an estimated 108 employees that work at its Tulsa office.
Bill Hancock, the office’s business services and rapid response coordinator, stated in an email the agency was informed the layoffs would begin on Monday or within a two-week period following that date.
Hancock said the office was told the layoffs are a result of the $5.1 billion merger that closed Dec. 5 between Energy Transfer and SemGroup.
That deal added SemGroup’s oil export facilities and pipelines to Cushing that support its crude oil gathering assets in the Denver-Julesburg Basin in Colorado and the Anadarko Basin in Oklahoma and Kansas to Energy Transfer’s portfolio of assets, officials have said.
Energy Transfer also picked up SemGroup’s Canadian operations as part of the deal.
A spokesperson for Energy Transfer declined to comment Monday about the layoff announcement.
Alliance Resource Partners adds executive to its team
Alliance Resource Partners announced on Monday it has hired a mergers and acquisitions specialist to its executive team.
Kirk Tholen, who most recently was a managing director and head of acquisitions and divestitures for Houlihan Lokey, joined Alliance Resource Partners as a senior vice president and chief strategic officer.
The announcement stated that Tholen will work on strategic initiatives for the company, will lead its oil and gas minerals division and will report to Joseph W. Craft III, its CEO.
"Kirk is a respected leader in the energy industry and brings a depth and breadth of knowledge and experience to ARLP,” Craft stated as part of the announcement.
“I look forward to working with the Alliance team to expand the minerals portfolio alongside coal and other investible opportunities," Tholen stated.