Weeden & Co. Analyst Joins Chesapeake Board

Article excerpt

Charles T. Maxwell has been elected to Chesapeake Energy's board of directors for a term expiring in 2003.

Maxwell is the senior energy analyst at Weeden & Co., an institutional research and brokerage firm in Greenwich, Conn. He is the author of more than 1,000 publications related to oil and natural gas issues and has been a frequent energy commentator on numerous television programs, including Wall Street Week and similar business programs on CNBC, CNN, ABC, and Bloomberg TV.

He is a 1953 graduate of Princeton University.

Entering the oil and natural gas industry in 1957, Maxwell worked for Mobil Oil for 11 years in the United States, Europe and Africa. In 1968, Maxwell joined C. J. Lawrence, an institutional research and brokerage firm, as an international oil analyst. He rose to the position of managing director of C.J. Lawrence/Morgan Grenfell and retired from the firm in 1997, several years after it was acquired by Deutsche Bank. In 1999, Maxwell returned to energy industry analysis when he joined Weeden and Co.

Maxwell's appointment increases the size of Chesapeake's board to seven. Management is represented by Aubrey K. McClendon and Tom L. Ward, the company's co-founders. The other four members are Edgar F. Heizer Jr. of Chicago, Breene M. Kerr of Easton, Md., Shannon T. Self of Oklahoma City and Frederick B. Whittemore of New York City.

Gasoline prices rise

Self-serve regular in Oklahoma on Tuesday was averaging $1.314 per gallon, up 1.4 cents from Aug. 17 but down 28.3 cents from a year earlier, according to AAA Oklahoma.

Oklahoma City and Tulsa prices have been on the upswing, with some areas of Oklahoma City reporting increases on Monday and Tuesday of 7 and 8 cents per gallon, bringing the citywide average to $1.29 per gallon. Tulsa was averaging $1.303 on Tuesday, up 3.8 cents since Sept. 5.

The nationwide average price of self-serve regular gasoline rose 0.8 cent per gallon since mid-August, from $1.40 to $1.408 per gallon, AAA said Tuesday.

The modest increase in the nationwide average gasoline price continues a six-month trend of fuel price stability begun last April, when the nationwide average gasoline price was $1.552 per gallon.

News that Iraq has agreed to "unconditional" arms inspections by the United Nations has dropped the price of crude oil by nearly $1 to approximately $28 per barrel.

OPEC is scheduled to meet Thursday to discuss price and production levels. A decision to boost output is widely expected, according to AAA.

Express ranks in top 15

Oklahoma City-based Express Personnel Services was ranked among the top 15 staffing firms in the nation by Staffing Industry Analysts Inc.

The rankings were based on U.S. sales in 2001. The top 15 staffing firms combined for 28 percent of the market share, according to the report. Express was one of five private firms in the top 15.

"Because we choose to remain a privately held firm, we are not as large as some of our competitors," said Robert A. Funk, Express founder and CEO. "However, we believe it has allowed us to give better, more personalized service to our associates and clients."

Express had sales of $781 million in 2001.

Energy Advocate Awards

Energy Advocate of the Year Awards will be presented at the 10th annual International Energy Policy Conference on Oct. 24-25 in Oklahoma City.

The awards will be presented to Mike Oxley, president, of Tulsa- based Oxley Petroleum, individual award; Schlumberger, corporate award; L.O. "Lew" Ward, Enid, lifetime achievement; and Great Britain, the international award.

Speakers at the conference will include Ambassador Jeane Kirkpatrick, Henry McLeish, former first minister of Scotland; Marianne S. Kah, senior chief economist for ConocoPhillips; Rita Bajura, director of the National Energy Technology Laboratory/U. …