NiSource earnings

NiSource earnings

MERRILLVILLE, Ind.

NiSource Inc. will release its 2013 year-end and fourth-quarter earnings before the markets open Feb. 18.

The natural-gas transmission, storage and distribution company will have an analyst conference call to review the numbers and provide a general business update.

The company will stream an audio web- cast on its website, www.nisource.com.

Hess Corp. budget

NEW YORK

Hess Corp. announced a $5.8 billion exploration and production capital and exploratory budget for this year, which includes a $550 million investment for drilling 35 unconventional wells primarily in the wet-gas window of the Utica Shale.

In total, the company will spend half of its budget, $2.85 billion, on unconventional shale resources, $1.475 billion on production, $925 million on development and $550 million on exploration.

The bulk of Hess resources will go to North Dakota’s Bakken Shale, where the company will operate 17 rigs — three more than last year — and bring 225 new wells online. The focus of that investment will be on the shale play’s wet-gas window.

CEO John Hess said the capital and exploratory budget reflects the company’s goal of increasing production between 5 and 8 percent each year through 2017.

New role at Magnum

HOUSTON

Magnum Hunter Resources Corp. promoted Chris Benton to vice president of financial and capital markets and Cham King to assistant vice president of investor relations, the company announced.

Benton, who previously served as assistant vice president of financial and capital markets, will have an increased focus on corporate finance, corporate modeling, budgeting and capital markets activities. He has more than six years of experience in banking and corporate finance in the energy industry.

King, a Baylor University graduate, joined Magnum’s financial department in 2012 as a financial analyst.

Charter school

Salineville

The Southern Local Board of Education in Salineville in Columbiana County plans to open an oil-and-gas-oriented charter school.

The Utica Shale Academy of Ohio, an open-enrollment school for grades nine through 12, will prepare students for careers in the oil and gas industry, while also offering a traditional curriculum.

Officials hope to complete the charter for the school this month in hopes of opening in September.

Consol Energy names new division head

PIITSBURGH

Consol Energy Inc. named Timothy C. Dugan the new chief operating officer for its exploration and production division.

Dugan most recently served as vice president of the Appalachia South business unit at Chesapeake Energy. Since 2009, he has directed Chesapeake’s activity in the Marcellus and Utica shale plays, and he added oversight of geology, drilling, completions and reservoir planning.

He has more than 30 years’ experience in the country’s biggest shale plays and was instrumental in the first major airport drilling program at Dallas/Fort Worth International Airport.

Williams’ dividend

TULSA, Okla.

Williams board of directors approved a regular dividend of 40 cents on the company’s common stock, payable March 31 to stockholders of record March 14.

The first-quarter dividend is two cents more than the previous quarter’s dividend and six cents greater than the first quarter of 2013.

The gas-infrastructure company expects its full-year dividend to grow by 20 percent in 2014 and 2015, to $1.75 and $2.11.