Business News

New Leaders Named at CHI St. Alexius Health Physician Enterprise

BISMARCK – CHI St. Alexius Health, Bismarck has named Dr. Michael Brown and Dewey Schlittenhard as leaders of its recently formed Physician Enterprise.

As a practicing cardiothoracic surgeon and current President of CHI St. Alexius Health Heart and Lung Clinic, Brown will assume the new role as Chief Medical Officer of the Physician Enterprise. Schlittenhard has been with CHI St. Alexius Health for 18 years and was recently the Chief Operating Officer for the organization. He will now become the President for the Physician Enterprise.

CHI St. Alexius Health is home to a group of highly skilled physicians and is the largest health care delivery system in central and western North Dakota. The development of the enterprise will expand the role for physician involvement in strategic and operational functions of the health system.

The Physician Enterprise will be governed by an operating council comprised of chairpersons of each medical specialty division within CHI St. Alexius Health. The council’s role and responsibility will be to focus the organization on maintaining high quality outcomes and excellent patient satisfaction.

[February 8, 2017]

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Stark Names Ryan Jilek Executive Vice President

DICKINSON – Stark Development Corporation has selected Ryan Jilek of Dickinson, North Dakota as its Executive Vice President. Mr. Jilek will replace Gaylon Baker who is leaving the position after 21 years of service.

Mr. Jilek was determined to be the most qualified individual from a pool of applicants vetted by a committee appointed by the Board of Directors of Stark Development Corporation. Board President T.J. Herauf indicated that Mr. Jilek displayed a passion for his native Southwest North Dakota and has experience as an Entrepreneur with extensive marketing skills.

Ryan Jilek is a business professional and entrepreneur with over 22 years of experience as a Dickinson, North Dakota-based small business owner and employer. He is the founder and owner of Custom Data, Inc., a multifaceted computer and multimedia company serving clients across the country. As a lifelong resident of Stark County, Ryan enjoys a deeply rooted awareness of the region, its communities, and residents.

[February 7, 2017]

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Whiting Petroleum Corporation Closes Sale of North Dakota Midstream Assets for $375 Million

BISMARCK – Whiting Petroleum Corporation (NYSE: WLL) announced that it closed the previously announced sale of its 50 percent interest in its Robinson Lake natural gas processing plant and associated natural gas gathering system located in Mountrail County, North Dakota and its 50 percent interest in its Belfield natural gas processing plant and associated natural gas, crude oil and water gathering systems located in Stark, Billings and Dunn Counties, North Dakota. The all cash purchase price was $375 million, subject to closing and post-closing adjustments.

Whiting Petroleum Corporation, a Delaware corporation, is an independent oil and gas company that explores for, develops, acquires and produces crude oil, natural gas and natural gas liquids primarily in the Rocky Mountain region of the United States. The Company’s largest projects are in the Bakken and Three Forks plays in North Dakota and Niobrara play in northeast Colorado.

[January 3, 2017]

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Marathon Oil Reports Third Quarter Loses

BISMARCK – The  Marathon Oil Corporation (NYSE:MRO), who does business in North Dakota’s Bakken, reported a third quarter 2016 net loss of $192 million, or $0.23 per diluted share. The net loss includes the impact of certain items not typically represented in analysts’ earnings estimates and that would otherwise affect comparability of results. The adjusted net loss for the quarter was $97 million or $0.11 per diluted share.

Marathon Oil averaged 54,000 net boed of production in the Bakken during third quarter 2016, compared to 53,000 net boed in the prior quarter and 61,000 net boed in the year-ago quarter as strong well productivity from the Clarks Creek pad and high reliability continued supporting the base production. Three gross wells in East Myrmidon were brought to sales in the third quarter, all performing at or above expectations with completions ranging from 600 to 1,500 pounds per lateral foot of proppant and 45 to 50 stages per well. The Rufus well in the first bench of the Three Forks achieved a 30-day production rate of 2,635 boed (80 percent oil), and the Hannah Three Forks first bench well achieved 2,100 boed (80 percent oil). Additionally, the Maggie Middle Bakken well achieved 2,190 boed (80 percent oil) over 30 days. Completed well costs averaged below $6 million per well. The Company plans to return to drilling in the Bakken with one rig to be added in the fourth quarter.

“Strong execution across our entire business led to third quarter production above the top end of our guidance and cash flow neutrality,” said Marathon Oil President and CEO Lee Tillman. “We’re increasing our rig count by 50 percent in the fourth quarter while remaining within our existing $1.3 billion capital program. This acceleration will have us well positioned to resume sequential production growth in the resource plays by the second half of 2017. Our planning process continues, but the preliminary five-year view for the resource plays supports compounded annual growth rate of 15 to 20 percent within cash flows at flat $55 WTI.”

[November 2, 2016]

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Hornbacher Named CHI St. Alexius Health’s Director of Revenue Cycle Optimization

BISMARCK – CHI St. Alexius Health recently announced the naming of Amy Hornbacher as its new director of revenue cycle optimization. She will serve as the key liaison between CHI St. Alexius Health’s revenue management partners to drive improvement in respect to revenue cycle operations.

Amy started her career with CHI St. Alexius Health in 1990 and has served in a variety of leadership roles, including patient access and business office director, director of compliance, and vice president compliance and risk. In 2014 when St. Alexius affiliated with Catholic Health Initiatives, Amy filled the role of assistant regional corporate responsibility officer.

Amy graduated from University of North Dakota with a Bachelor of Arts Political Science degree and earned a Master of Business Administration from University of Mary. In addition, she is certified in healthcare compliance (CHC), healthcare professional risk management (CHPRM) and is a certified compliance and ethics professional (CCEP).

[October 10, 2016]

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