Electric Energy Online: Oil & Gas

Constellation Energy Continues Steady Retail Growth with Acquisition Of Oklahoma Retail Gas Provider

3 Feb 2012 10:26:50 EST

Baltimore, February 3, 2012 - Constellation Energy (NYSE: CEG), a leading competitive energy provider, announced it has closed the acquisition of ONEOK Energy Marketing Company (OEMC), a Tulsa, Okla., retail natural gas marketing company with approximately 26,000 customers. “We’re pleased to bring OEMC into the Constellation family and broaden the natural gas services we can offer in the mid-continent region” ...

Sunoco Logistics Partners L.P. Announces Changes in Senior Management and Board of Directors

3 Feb 2012 09:55:41 EST

Philadelphia, PA, February 3, 2012 - Sunoco Logistics Partners L.P. (NYSE: SXL) (Sunoco Logistics) announced that Michael J. Hennigan will become president and chief executive officer, effective March 1, 2012. Mr. Hennigan, currently president and chief operating officer of Sunoco Logistics, will replace Lynn L. Elsenhans, who is stepping down as chief executive officer on March 1, 2012. Ms. Elsenhans also will be stepping down as chairman ...

Oilsands Quest Secures CDN$3.75 million Financing; Agrees to Sell Non-Core Eagles Nest Asset for CDN$4.4 million

3 Feb 2012 09:42:57 EST

Calgary, AB, Februrary 3, 2012 - Oilsands Quest Inc. (NYSE Amex: BQI) ("Oilsands Quest," or "the Company") has secured a commitment for debtor-in-possession ("DIP") financing of CDN$3.75 million (the "DIP Facility"), for the purposes of funding operating costs and other expenses while the Company proceeds with its previously-announced solicitation process while under creditor protection. The ...

BreitBurn Energy Partners L.P. Announces Public Offering of Common Units

3 Feb 2012 09:33:29 EST

Los Angeles, CA, February 3, 2012 - BreitBurn Energy Partners L.P. (the “Partnership”) (NASDAQ:BBEP) announced that it has commenced a public offering, subject to market and other conditions, of 8,000,000 common units representing limited partner interests in the Partnership. The Partnership intends to grant the underwriters a 30-day option to purchase up to an additional 1,200,000 common units. The Partnership intends to ...

DRA Recommends PG&E Shareholders, Not Customers, Bear Majority Of Gas Pipeline Safety Upgrade Costs

2 Feb 2012 15:17:28 EST

San Francisco, February 2, 2012 - The Division of Ratepayer Advocates (DRA), an independent consumer advocacy division within the California Public Utilities Commission (CPUC), on Tuesday recommended that shareholders of Pacific Gas and Electric Company (PG&E), not ratepayers, should fund the vast majority of the utility’s natural gas pipeline safety upgrade costs due to the company’s mismanagement of its pipeline ...

Grid Petroleum Corp. - Completes Negotiations for New Area of Interest.

2 Feb 2012 14:45:42 EST

Denver, February 2, 2012 - Grid Petroleum Corp. (OTCBB: GRPR) The Company is pleased to announce the finalization of negotiations for the acquisition of a private holding company, with oil and gas interests in a 5000-acre tract of land in central Texas. The underlying oil and gas interests have been estimated to contain reserves of over 20,000,000 barrels of Oil and 15 Billion cubic feet of natural gas. Onsite oil production ...

Chesapeake Midstream Partners, L.P. Announces Secondary Public Offering of Common Units by Global Infrastructure Partners

2 Feb 2012 14:42:11 EST

Oklahoma City, February 2, 2012 - Chesapeake Midstream Partners, L.P. (NYSE:CHKM) announced the commencement of an underwritten public offering of 9,250,000 common units representing limited partner interests owned by Global Infrastructure Partners (GIP). GIP has granted the underwriters a 30-day option to purchase up to 1,247,003 additional common units. The Partnership will not receive any of the net proceeds from this offering ...

AltaGas Ltd. Announces Agreement to Purchase Semco Holding Corporation from Continental Energy Systems

2 Feb 2012 09:15:55 EST

Port Huron, MI., February 2, 2012 - On February 1, 2012, AltaGas Ltd. ("AltaGas" or the "Corporation") announced that it entered into a definitive agreement (the "Agreement") with Continental Energy Systems LLC ("Continental") to acquire Semco Holding Corporation ("SEMCO") for US $1.135 billion, including approximately US $355 million in assumed debt. SEMCO is the sole shareholder of ...

IBM to Help Oil and Gas Companies Monitor and Reduce Environmental Impact

2 Feb 2012 09:01:40 EST

Olso, Norway, February 2, 2012 - IBM (NYSE: IBM) has been selected for a global research project to develop the world's first integrated environmental monitoring system aimed at helping oil and gas companies minimize the environmental impact of their operations. IBM researchers, developers and a team from IBM's Centre of Excellence for Oil and Gas in Stavanger, Norway, are collaborating with experts from Statoil, Kongsberg Group ...

American Natural Energy Corporation Announces Capital Raise and Closing of Financing Agreement

2 Feb 2012 08:57:03 EST

Tulsa, OK., February 2, 2012 - American Natural Energy Corporation ("ANEC") (TSX Venture: ANR.U) announced that it intends to seek to raise additional capital, subject to TSX Venture Exchange approval. The terms of such transaction will involve the sale of up to 10 million Units consisting of 1 share of ANEC's Common Stock at a price of USD$0.10 per share and 1 warrant for the purchase of 1 share of ANEC's common stock ...

Royal Dutch Shell Sets Out New Growth Agenda

2 Feb 2012 08:53:42 EST

London, February 2, 2012 - Shell (NYSE: RDS.A) (NYSE:RDS.B) updated shareholders on progress against its strategic plan to generate profitable growth. In today's volatile economic environment, the company's strategic aim remains to drive forward with its investment programme, to deliver sustainable growth and provide competitive returns to shareholders. Key highlights:

Global economy ...

SandRidge Energy, Inc. to Acquire Dynamic Offshore Resources, LLC for Consideration of $1.275 Billion

2 Feb 2012 08:48:31 EST

Oklahoma City, February 2, 2012 - SandRidge Energy, Inc. (NYSE: SD) has entered into an agreement to acquire Dynamic Offshore Resources, LLC for aggregate consideration of $1.275 billion consisting of approximately $680 million in cash and approximately 74 million shares of SandRidge common stock valued at $8.02 per share.These oil rich assets will add reserves, production and cash flow at an attractive valuation that is consistent ...

Amazon Defense Coalition: Facing Devastating Setbacks, Chevron Now Seeks Taxpayer Bailout from $18 Billion Ecuador Judgment

1 Feb 2012 14:04:17 EST

Quito, Ecuador, February 1, 2012 - Facing devastating setbacks in the courts of two countries over its $18 billion Ecuador liability, Chevron is now seeking a taxpayer-funded bailout for the clean-up costs of its environmental catastrophe in the Amazon rainforest, said a lawyer for the Ecuadorians. Chevron's annual revenues (roughly $240 billion in 2011) are five times the GDP of Ecuador, but that has not stopped the oil giant from ...

Royal Dutch Shell plc: Retirement of Deputy Chairman and Senior Independent Director

1 Feb 2012 13:21:29 EST

London, February 1, 2012 - Royal Dutch Shell plc (the "Company") (NYSE: RDS.A)(NYSE: RDS.B) announces that Lord Kerr of Kinlochard, Deputy Chairman and Senior Independent Director has indicated his intention to retire as a Director of the Company at the 2012 Annual General Meeting, scheduled to be held on May 22, 2012. Lord Kerr has served as a Non-executive Director of the Company and The "Shell" Transport ...

Enhanced Oil Resources Inc. Announces Completion of the Sale of St. Johns Dome CO(2) and Helium Assets

1 Feb 2012 11:50:39 EST

Houston, TX, February 1, 2012 - Enhanced Oil Resources Inc. (TSX-V: EOR) announced that its indirect wholly-owned subsidiary, Ridgeway Arizona Oil Corp. (collectively with EOR, the "Company"), has completed the sale of its interests in the St Johns CO2 and Helium field. The transaction closed pursuant to a purchase and sale agreement announced November 16, 2011, as amended, with Kinder Morgan CO 2 Company, L.P., a wholly ...

CPUC Issues Joint Statement of President Peevey and Commissioner Florio Regarding PG&E Pipeline Rupture Case

1 Feb 2012 10:36:21 EST

San Francisco, February 1, 2012 - The California Public Utilities Commission (CPUC) issued the following joint statement from CPUC President Michael R. Peevey and Commissioner Mike Florio regarding the penalty consideration case involving Pacific Gas and Electric Company (PG&E) and allegations that the utility violated laws and regulations, leading to a pipeline rupture in San Bruno, Calif., in 2010: On January 12, 2012, the ...

Itron Expands Gas Smart Payment Meter Project in Azerbaijan

1 Feb 2012 10:21:27 EST

Liberty Lake, WA, February 1, 2012 - Itron, Inc. (NASDAQ: ITRI) announced it will provide more than 400,000 gas smart payment meters to SOCAR “Azeri Gas” Production Union (PU), a part of the State Oil Company of Azerbaijan (SOCAR). The new meter deployment follows a previous project that included installing 250,000 smart payment meters in the capital city of Baku. This marks the start of the second phase of the project, which ...

Exelon Names Finance Executives for Combined Exelon-Constellation

1 Feb 2012 10:01:30 EST

Chicago & Baltimore, February 1, 2012 - Exelon announced the Finance executives reporting to Jonathan W. (Jack) Thayer, who has previously been named executive vice president and chief financial officer of the combined company, upon close of Exelon’s planned merger with Constellation. The company is naming executives in the Finance group ahead of schedule to ensure that the appropriate accountability and delegation of authority related ...

MarkWest Announces Significant Processing and Fractionation Infrastructure for the Marcellus and Utica Shales

1 Feb 2012 09:48:39 EST

Denver, CO, February 1, 2012 - MarkWest Energy Partners, L.P. (NYSE: MWE) announced expansion plans for the Marcellus and Utica shales that include more than 600 million cubic feet per day (MMcf/d) of additional processing capacity and 140,000 barrels per day (Bbl/d) of incremental fractionation capacity. Once complete, MarkWest will operate approximately 2.3 billion cubic feet per day (Bcf/d) of processing capacity and nearly ...

PetroFrontier Corp. appoints Chief Operating Officer

1 Feb 2012 09:44:46 EST

Calgary, AB, February 1, 2012 - PetroFrontier Corp. ("PetroFrontier") is pleased to announce that effective February 1, 2012 it has appointed Earl Scott, P. Eng., as Chief Operating Officer of PetroFrontier and President of its two wholly-owned Australian subsidiaries, PetroFrontier (Australia) Pty. Ltd. and Texalta (Australia) Pty. Ltd. Mr. Scott brings extensive knowledge of drilling, completions, production operations, ...

Gas Natural Inc. Names Dean A. Ward as Chief Information Officer

1 Feb 2012 08:58:26 EST

Great Falls, MT, February 1, 2012 - Gas Natural Inc. (NYSE Amex: EGAS) (the "Company"), a natural gas utility company serving approximately 63,500 customers in six states, has named Dean A. Ward to the new position of Chief Information Officer, reporting to the Vice President and Chief Financial Officer, Thomas J. Smith. Mr. Ward, 48, will be responsible for the planning, alignment, governance and delivery of the Company's ...

Holly Energy Partners L.P. Reports Crude Oil Pipeline Leak

1 Feb 2012 08:55:13 EST

Dallas, TX, February 1, 2012 - Holly Energy Partners (NYSE:HEP) announced it experienced a pipeline leak on its crude oil gathering system in the West Texas. This system gathers crude oil in the Permian Basin for transport to nearby refineries or Midland, Texas. The pipeline leak occurred on a 6 inch crude pipeline at HEP's Wood Station pump facility. Approximately 1,100 barrels of crude oil have been recovered from the spill. ...

CONSOL Energy and MarkWest Sign Agreement to Accelerate Natural Gas Development at MarkWest's Majorsville III Plant

1 Feb 2012 08:48:28 EST

Pittsburgh, PA, February 1, 2012 - CONSOL Energy Inc. (NYSE: CNX), the leading diversified fuel producer headquartered in the Eastern U.S., announced that the company recently amended a previous agreement with MarkWest Energy Partners, LP (NYSE: MWE). Under the amendment, CONSOL Energy, through a subsidiary, contracted for the full 200,000 Mcf per day of capacity in MarkWest's Majorsville III plant. This will be in addition to the ...

The Salton Sea May Prove Even More Valuable to HyperSolar

31 Jan 2012 15:32:11 EST

Santa Barbara, CA., January 31, 2012 - HyperSolar, Inc. (OTCBB: HYSR), the developer of a breakthrough technology to produce renewable hydrogen and natural gas using water and solar power, announced that the numerous “mud pots” found in and around the Salton Sea emit mostly carbon dioxide (CO2). This harmful greenhouse gas can be captured and combined with hydrogen in the company’s proprietary process to make renewable ...

CITGO Recognizes Canine Castaways, Inc. for Fueling Good

31 Jan 2012 15:29:50 EST

Arcadia, FL., January 31, 2012 - Doing good in local communities is a core value woven throughout CITGO Petroleum Corporation and one that is uniquely demonstrated through its Fueling Good Program. Now in its third year, Fueling Good recognizes and rewards local heroes within their communities for the good works they do, from caring for the needy to providing food for the hungry to assisting kids who need dental care. As part of ...

Quantum Receives $750,000 in New Orders for Natural Gas Vehicle Fuel Storage Systems

31 Jan 2012 10:21:58 EST

Irvine, CA., January 31, 2012 - Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ: QTWW), a global leader in natural gas, hydrogen and hybrid electric vehicle technologies, announced it has received new purchase orders totaling $750,000 for its ultra light weight composite high pressure compressed natural gas (CNG) storage tanks for applications in heavy duty and light duty fleet vehicles. Alan Niedzwiecki, President and ...

Eagleford Energy Board Appointment

31 Jan 2012 08:58:29 EST

Toronto, ON., January 31, 2012 - Eagleford Energy Inc. (OTCBB: EFRDF) ("Eagleford Energy" or the "Company"), is pleased to announce that on January 25, 2012, Alan D. Gaines, B.B.A, M.B.A was appointed to the Board of Directors of Eagleford Energy. Mr. Gaines has approximately 30 years experience as an energy investment and merchant banker, and has participated in raising significant debt and equity during his ...

PG&E and Picarro Demonstrate Super-Sensitive Gas Leak Detector

31 Jan 2012 08:40:05 EST

Santa Clara, CA., January 31, 2012 - Testing ways that new technology can make natural gas pipelines safer, Pacific Gas and Electric Company (PG&E) and Picarro demonstrated a car-mounted gas leak detection device that is much more sensitive than traditional instruments. "The Picarro device is a powerful tool we are studying, and we are excited to be the first natural gas operator in the world to use it," said Nick Stavropoulos, ...

Natural Gas Policies Poised to Stifle Keystone-State Energy Boon

30 Jan 2012 13:24:12 EST

Washington, January 30, 2012 - Small Business and Entrepreneurship Council chief economist Raymond J. Keating expressed concern that low natural gas prices coupled with high "impact fees" under consideration by Pennsylvania's legislature could drive shale business out of the state and with it, the jobs and prosperity development generates. "Gas prices may be beyond Harrisburg's control, but the state's tax policy ...

Chevron CEO's Plan to Evade $18b Ecuador Liability Falters As Courts Slam Oil Giant, Says Amazon Defense Coalition

30 Jan 2012 11:37:08 EST

New York, January 30, 2012 - U.S. courts are showing increasing hostility toward Chevron and its CEO John Watson over the company's $18 billion Ecuador liability as the oil giant's plan to quash the landmark case continues to falter in the hands of American law firm Gibson Dunn & Crutcher, said representatives of the Amazon indigenous groups who offered an analysis of the 18-year case to its shareholders and industry analysts. Leaders ...

CenterPoint Energy Field Services Proposes New Gathering System in Mississippi Lime Area

30 Jan 2012 10:02:13 EST

Houston, TX, January 30, 2012 - CenterPoint Energy Field Services, LLC (CEFS), an indirect, wholly-owned natural gas gathering and treating subsidiary of CenterPoint Energy, Inc. (NYSE: CNP), announced that it has begun initial routing activities for a proposed gas gathering and processing system in the heart of the Mississippi Lime area of north central Oklahoma and south central Kansas. The proposed White Eagle Gathering System ...

Adil Toubia appointed CEO of the Siemens Oil & Gas Division

30 Jan 2012 09:56:31 EST

Erlangen, Germany, January 30, 2012 - Effective February 1, 2012, Adil Toubia (53) will become CEO of the Oil & Gas Division of Siemens Energy. He succeeds Tom Blades, who has been appointed as a member of the Managing Board of Linde AG. Adil Toubia brings three decades of experience in this branch of industry and was most recently a partner in Energy Capital Group, a private equity investment firm in the oil and gas industry. Prior ...

Cheniere and KOGAS Sign 20-Year LNG Sale and Purchase Agreement

30 Jan 2012 09:43:55 EST

Houston, TX, January 30, 2012 - Cheniere Energy Partners, L.P. ("Cheniere Partners") (NYSE Amex: CQP) announced that its subsidiary, Sabine Pass Liquefaction, LLC ("Sabine Liquefaction"), has entered into a liquefied natural gas ("LNG") sale and purchase agreement ("SPA") with Korea Gas Corporation ("KOGAS") under which KOGAS has agreed to purchase approximately 3.5 million tonnes ...

Amazon Defense Coalition: In Critical Ruling, Chevron Hit Hard By Federal Appellate Court

27 Jan 2012 10:07:16 EST

New York, January 27, 2012 - U.S. representatives for the Ecuadorians, who recently won an $18 billion judgment in Ecuador against Chevron for massive contamination, issued the following statements today about the U.S. Second Circuit Court of Appeals opinion, dismissing a lower court ruling that sought to prevent enforcement of the Ecuador judgment. Karen Hinton, U.S. spokesperson for the Ecuadorians, said: "A ...

Pacific Rubiales Accepts Shares of PetroMagdalena in Settlement of Debt

26 Jan 2012 13:47:00 EST

Toronto, ON., January 26, 2012 - Pacific Rubiales Energy Corp. (TSX: PRE; BVC: PREC) announced that it has entered into an agreement to receive common shares of PetroMagdalena Energy Corp. (TSXV: PMD) in satisfaction of certain debts owed to it in connection with the exploration program at the Topoyaco block.PetroMagdalena owes Pacific Rubiales approximately U.S. $6 million in connection with a cash call due to a subsidiary of Pacific ...

FTTN: U.S. to Dramatically Reduce Oil Imports as Domestic Production Booms

26 Jan 2012 10:28:33 EST

Bradenton, FL., January 26, 2012 - Domestic oil and gas developers including First Titan Corp. (OTCBB: FTTN) got some good news from the Energy Information Administration (EIA) this week when the agency announced that the U.S. will dramatically reduce its oil imports over the next 20 years. Between now and 2035, oil imports will decline from 49 percent to 36 percent, said EIA Acting Administrator Howard Gruenspecht on Monday during ...

MagneGas Adds New Distribution Customer to Growing Pipeline

26 Jan 2012 09:18:32 EST

Tampa, FL., January 26, 2012 - MagneGas Corporation ("MagneGas" or the "Company") (OTCBB: MNGA), the developer of a technology that converts liquid waste into a hydrogen-based metal working fuel and natural gas alternative, announced Custom Welding Diversified, Inc. has agreed to distribute MagneGas™ to its customers in the metal working fuel market throughout southern Florida. Custom Welding Diversified ...

Fitch: Natural Gas Price Mixed for U.S. Public Power

26 Jan 2012 09:15:26 EST

New York, January 26, 2012 - Fitch believes that the drop in natural gas prices will have a variety of impacts on different parts of the U.S. power and gas sector. Some combined cycle merchant power plants with long-term offtake contracts could benefit from the diminished price. However, merchant plants exposed to spot market power prices and plants with offtake contracts that roll off this year (and have to assume new output ...

Three New Members Elected to Williams’ Board of Directors

26 Jan 2012 09:11:05 EST

Tulsa, OK., January 26, 2012 - Williams (NYSE:WMB) announced that three new members have been elected to the company’s Board of Directors. The new members are John Andrew Hagg, Steven W. Nance and Murray D. Smith. “John, Steve and Murray all bring significant leadership experience as well as a deep knowledge across multiple disciplines in the North American energy industry to the Williams board” “John, ...

Keystone XL Trans-Canada Pipeline Will Streamline Delivery of Canadian Crude

26 Jan 2012 08:36:11 EST

Irvine, CA., January 26, 2012 - Despite political opposition, the Keystone XL Trans-Canada oil pipeline is a viable economic and environmental alternative according to David Hackett, president at Stillwater Associates, an oil and energy consulting firm based in Irvine, CA. The Keystone XL initiative was designed to deliver heavy sour crude oil from sources in Alberta, Canada and light sweet crude oil from North Dakota to US refineries ...

US Natural Gas Corp to Increase Oil Production Through Acquisition

26 Jan 2012 08:34:21 EST

St. Petersburg, FL., January 26, 2012 - US Natural Gas Corp (OTCQB: UNGS), an energy exploration company with operations in the Appalachian Basin, is pleased to announce that it has reached terms to acquire two producing oil wells adjacent to the Company's current leasehold base in Edmonson County, KY. The GV No. 1 was drilled and completed in September 1987 to a total depth of 1257' with production occurring from the Devonian Clear Creek ...

America's Economic Future and Clean Energy Potential Outlined by President Obama Will Rely on the Continued Growth of Clean Diesel Technology

26 Jan 2012 08:31:50 EST

Washington, January 26, 2012 - President Obama's emphasis in last night's State of the Union address on the expansion of clean energy and economic growth is attainable with the help of the one source that literally drives the U.S. and global economy – clean diesel technology. America's Clean Energy Future "In his State of the Union address, President Obama focused on a few energy sources – ...

New Online Tools Help Natural Gas Customers Understand Energy Use, Track Appointments

25 Jan 2012 13:15:11 EST

Houston, TX, January 25, 2012 - CenterPoint Energy (NYSE:CNP) has recently launched two new online services that will allow natural gas customers to better understand their monthly bill, as well as track service appointments with ease. My Energy Analyzer, a free tool designed to give customers a closer look at the factors that affect monthly energy costs, will also offer customers solutions for reducing their energy use. The new ...

US Natural Gas Corp Board Approves Extension to Announced Share Repurchase Plan and Approves New Repurchase Plan

25 Jan 2012 09:35:15 EST

St. Petersburg, January 25, 2012 - US Natural Gas Corp (OTCBB:UNGS), an energy exploration company with operations in the Appalachian Basin announced that its Board of Directors has approved an extension to the previously announced share repurchase plan and has simultaneously approved a new $400,000 repurchase plan. The Board has approved an extension through the end of the fiscal second quarter to complete the previously announced ...

ConocoPhillips Reaches Settlement Agreement Related to Bohai Bay Incidents

25 Jan 2012 09:18:23 EST

Houston, TX, January 25, 2012 - ConocoPhillips [NYSE:COP] announced they and the China National Offshore Oil Corp. (CNOOC) have reached an agreement with China's Ministry of Agriculture to resolve issues related to the June 2011 incidents at the Peng Lai 19-3 field in Bohai Bay. Under this agreement, RMB 1 billion (approximately $160 million) will be paid as compensation to settle public and private claims of potentially affected ...

Williams Partners L.P. Announces Public Offering of Common Units

25 Jan 2012 09:16:32 EST

Tulsa, OK, January 25, 2012 - Williams Partners (NYSE: WPZ) announced that it intends to commence an underwritten public offering of 6,500,000 common units representing limited-partner interests. The units will be offered by Williams Partners pursuant to an effective shelf registration statement on file with the Securities and Exchange Commission. Williams Partners plans to use the net proceeds from the offering to fund capital ...

NSTAR Proposes Mid-Winter Natural Gas Price Cut

24 Jan 2012 14:47:09 EST

Boston, January 24, 2012 - Customers of NSTAR Gas can expect to see a substantial mid-winter price cut thanks to a continued steady decline in natural gas prices. NSTAR’s current supply price, which is already significantly less than last winter, will drop by 16 percent on February 1st if the company’s proposal is approved by the Massachusetts Department of Public Utilities. On average, the new lower supply price ...

FTTN Acquires Working Interest in Big Canyon Prospect

24 Jan 2012 14:45:21 EST

Bradenton, FL., January 24, 2012 - First Titan Corp. (OTCBB:FTTN) finalized a purchase agreement to acquire a working interest in the Big Canyon Prospect oil and gas lease in West Texas. The Big Canyon Prospect covers approximately 640 net acres in Terrell County. FTTN acquired the majority working interest in the lease from Mesa Chica Geophysical, Inc. The company now owns the right to drill one well on the lease within six months ...

Equatorial Guinea Expands LNG Project

24 Jan 2012 14:43:00 EST

Malabo, Equatorial Guinea, January 24, 2012 - Equatorial Guinea's Minister of Mines, Energy and Industry, Marcelino Owono Edu, finalized new agreements on the implementation of the liquefied natural gas (LNG) Train II project on January 17, 2012 in Lisbon. The agreements distinguish the key areas of the project, taking them a step closer toward implementation. LNG Train II follows the development of LNG Train I, which was opened in May 2007 ...

Australia Pacific LNG and Sinopec Sign Binding Agreements for Further LNG Supply and an Increase in Equity to 25%

24 Jan 2012 14:40:58 EST

Brisbane, Australia, January 24, 2012 - Australia Pacific LNG Pty Ltd (Australia Pacific LNG) and Sinopec have signed an amendment to their existing LNG sales agreement for the supply of an additional 3.3 million tonnes per annum (mtpa) of LNG through to 2035 from Australia Pacific LNG’s world-class coal seam gas resources and LNG facility on Curtis Island, Gladstone in Queensland. The signing of this agreement finalises the marketing ...

Energy Transfer Partners Announces the Total Consideration for Its Maximum Tender Offer

24 Jan 2012 10:46:07 EST

Dallas, January 24, 2012 - Energy Transfer Partners, L.P. (NYSE: ETP) announced the reference yield and the total consideration for each series of notes subject to its previously announced Maximum Tender Offer, whereby ETP is offering to purchase, under certain conditions, its 9.700% Senior Notes due 2019, 9.000% Senior Notes due 2019, 8.500% Senior Notes due 2014 and 6.000% Senior Notes due 2013. The Maximum Tender Offer is ...

CITGO Fueled Up and Growing in 2012

24 Jan 2012 10:42:10 EST

Houston, January 24, 2012 - CITGO Petroleum Corporation is convening 18 Marketer Roundtable Meetings in the New Year, each with a strong message of growth in 2012. Scattered throughout its marketing footprint, these meetings provide opportunities for Marketers to hear directly from the CITGO team about new programs and plans that will ultimately help them and their Retailers realize more consumer visits, more purchases and more ...

ONEOK Announces $700 Million Notes Offering

24 Jan 2012 08:30:29 EST

Tulsa, OK., January 24, 2012 - ONEOK, Inc. (NYSE: OKE) announced that it has priced an offering to sell $700 million of 4.25 percent senior notes due 2022.The notes will be issued under ONEOK's existing shelf registration statement previously filed with the U.S. Securities and Exchange Commission. The net proceeds, after deducting underwriting discounts and estimated expenses, are expected to be approximately $694 million.ONEOK ...

FTTN Negotiates Working Interest in West Texas Oil Lease

23 Jan 2012 10:29:53 EST

Bradenton, FL., January 23, 2012 - First Titan Corp. (OTCBB:FTTN) announced that is has entered into negotiations to acquire a significant working interest in an oil and gas lease in West Texas. The company is targeting the Big Canyon Prospect in Terrell County, Texas. FTTN is wrapping up due diligence on the lease and expects to sign a purchase agreement with the prospective seller early next week. If negotiations are successful, ...

Chevron Appeals Illegitimate Ruling in Ecuador

23 Jan 2012 09:37:42 EST

San Ramon, CA., January 23, 2012 - Chevron Corporation (NYSE:CVX) announced that it has filed an appeal seeking review by Ecuador’s National Court of Justice of the adverse appellate judgment issued against the company in early 2012 by a panel of three temporary judges in the environmental lawsuit in Ecuador. “Today’s appeal gives the National Court of Justice an opportunity to correct the grave injustices that ...

Cordillera Energy Partners III, LLC Agrees to Merge With Apache Corporation

23 Jan 2012 09:35:30 EST

Denver, January 23, 2012 - Denver based Cordillera Energy Partners III, LLC announced an agreement to merge with Apache Corporation of Houston, Texas. Under the terms of the merger agreement, Apache will acquire Cordillera for $2.85 Billion comprised of $600 Million in common shares and $2.25 Billion in cash.The merger is subject to customary closing terms and conditions with closing expected on April 30, 2012. Cordillera owns ...

Amazon Defense Coalition: Chevron Again Claims Special Treatment Under Ecuadorian Law

23 Jan 2012 09:07:10 EST

Quito, Ecuador, January 23, 2012 - After being found liable in Ecuador for creating one of the world's worst oil disasters, Chevron filed a notice of appeal today to Ecuador's highest court where it seeks special treatment not afforded any other litigant under the nation's laws -- the waiver of a bond required to suspend enforcement of a judgment during the pendency of any appeal. It would be illegal under Ecuadorian law for the appellate ...

Pennsylvania DEP Accepts Public Comment on Oil and Gas Erosion Control Permit

20 Jan 2012 11:25:17 EST

Harrisburg, PA., January 20, 2012 - The Department of Environmental Protection announced it has submitted a revised version of its erosion and sediment control general permit for earth disturbance associated with oil and gas activities for publication in the Pennsylvania Bulletin, along with four other supporting documents, including a draft permit application and a policy explaining the permit requirements. DEP will accept comments ...

Energy Transfer Partners Announces Results to Date of Cash Tender Offers

20 Jan 2012 09:48:10 EST

Dallas, TX, January 20, 2012 - Energy Transfer Partners, L.P. (NYSE: ETP) announced that $291,950,000 in aggregate principal amount of its 5.650% Senior Notes due 2012 were tendered prior to 5:00 p.m., New York City time, on January 18, 2012, pursuant to its previously announced cash tender offer for any and all of such notes (the “Any and All Offer”). The Any and All Offer is one of two separate offers, with the other ...

Williams Partners’ Springville Pipeline Starts Up, Connects 300 MMcf/d of Marcellus Natural Gas to Northeast

20 Jan 2012 09:28:58 EST

Tulsa, OK., January 20, 2012 - Williams Partners L.P. (NYSE: WPZ) announced another significant milestone in building large-scale infrastructure in the Marcellus Shale with the start up of its Springville natural gas gathering pipeline. “This project is a prime example of our intense focus on expanding our services to meet our customers’ demand for reliable infrastructure services”. The Springville pipeline ...

Chevron Announces Further Natural Gas Discovery Offshore Australia

20 Jan 2012 09:26:53 EST

San Ramon, CA, January 20, 2012 - Chevron Corp. (NYSE: CVX) announced a natural gas discovery by its Australian subsidiary in the Exmouth Plateau area of the Carnarvon Basin, offshore Western Australia. The Satyr-3 well encountered approximately 243 feet (74 meters) of net gas pay. The well is located 113 miles (182 kilometers) north of Exmouth in the WA-374-P permit area, and was drilled in 3,688 feet (1,124 meters) of water to ...

Stone Energy Corporation Announces the Appointment of a New Director

19 Jan 2012 14:45:48 EST

Lafayette, LA., January 19, 2012 - Stone Energy Corporation (NYSE: SGY) announced the addition of Phyllis M .Taylor to its Board of Directors. Mrs. Taylor is the Chairman and Chief Executive Officer of Taylor Energy Company LLC. Stone's Chief Executive Officer David Welch states, "We are pleased to have Phyllis join our Board. We look forward to the influence she will provide given her knowledge and experience in the oil and ...

Chevron Suspends Search and Rescue Efforts for Two Missing Contractors

19 Jan 2012 11:46:02 EST

San Ramon, CA., January 19, 2012 - Chevron Corporation (NYSE: CVX) said that its subsidiary, Chevron Nigeria Limited (CNL), has called off the search and rescue activities for two contractors who were missing after Monday’s fire aboard the K.S. Endeavor, a drilling rig offshore Nigeria operated by FODE Drilling Nigeria Limited. “After three days of intensive search and rescue activities for our missing colleagues, I am ...

Louis Dreyfus Highbridge Energy LLC Acquires 77 MW Power Plant in Texas

19 Jan 2012 11:40:26 EST

Stamford, CT., January 19, 2012 - Louis Dreyfus Highbridge Energy LLC (“LDH Energy” or the “Company”) announced that it has acquired, through one of its subsidiaries, a natural gas-fired peaking facility located in Wichita County, Texas (“Wichita Falls” or the “Facility”) from Signal Hill Power LLC. “This acquisition exemplifies our investment philosophy of focusing on quality ...

NPRA Says Rejection of Keystone XL Pipeline Threatens American National Security and Jobs

19 Jan 2012 08:43:41 EST

Washington, January 19, 2012 - National Petrochemical & Refiners Association President Charles T. Drevna issued the following statement after the announcement that the Obama administration has rejected a construction permit for the Keystone XL pipeline: "President Obama has given in to political pressure from extremist opponents of fossil fuels and turned his back on American consumers who need fuel, American workers ...

Amazon Defense Coalition: Chevron Refusing to Contest Ecuador Appellate Court Decision Upholding $18 Billion In Damages

19 Jan 2012 08:35:54 EST

Quito, Ecuador, January 19, 2012 - In a stark departure from its normal litigation practices, Chevron has refused to request that the Ecuador appellate court that recently affirmed the $18 billion judgment against the oil major reconsider or clarify its decision. Chevron last week let a deadline pass that allowed either party to contest or clarify the decision, which was issued on January 3.The appellate court on Friday reaffirmed ...

CITGO Recognizes Southern Sustainable Resources for Fueling Good Local Charity Leads Conservation Efforts

18 Jan 2012 10:55:05 EST

Charleston, S.C., January 18, 2012 - Doing good in local communities is a core value woven throughout CITGO Petroleum Corporation and one that is uniquely demonstrated through its Fueling Good Program. Now in its third year, Fueling Good recognizes and rewards local heroes within their communities for the good works they do, from caring for the needy to providing food for the hungry to assisting kids who need dental care. As part of ...

Chevron Provides Update on Rig Incident Offshore Nigeria

18 Jan 2012 10:25:43 EST

San Ramon, CA, January 18, 2012 - Chevron Corporation (NYSE: CVX) said that an extensive search and rescue effort continues for two contractors who remain missing after yesterday’s fire aboard the K.S. Endeavor, a drilling rig offshore Nigeria operated by FODE Drilling Nigeria Limited. While Chevron’s highest priority remains the rescue of the missing contractors, the company continues to devote the necessary resources ...

CNOOC Limited Announces Its 2012 Business Strategy and Development Plan

18 Jan 2012 10:02:35 EST

Hong Kong, January 18, 2012 - CNOOC Limited (the "Company", NYSE: CEO, SEHK: 0883) announces a summary of the Company's business strategy and development plan for the year 2012. The total targeted net production of the Company in 2012 is 330 to 340 million barrels of oil equivalent (BOE). The Company's net production for 2011 is estimated to be 331 to 332 million BOE. During the year, four new projects in offshore ...

Victory Energy Names Kenneth Hill as Chief Executive Officer

18 Jan 2012 09:54:44 EST

Newport Beach, CA, January 18, 2012 - Victory Energy Corporation (OTCQB: VYEYD), today announced the appointment of Kenneth "Kenny" Hill as Chief Executive Officer, effective January 17th. Robert J. Miranda, Victory Energy's Chairman, commented, "Kenny has been a key contributor to our turnaround efforts since joining Victory Energy as Chief Operating Officer in January 2011. Since that time he has overseen the development ...

Thanks Shale! Talent Tussle Gets Vigorous for Oil and Gas Professionals

18 Jan 2012 09:47:28 EST

Houston, TX, January 18, 2012 - A near majority of U.S.-based professionals in the oil and gas industry believe it will be easy to find new job opportunities this year, with 49 percent of respondents anticipating ease finding a favorable new position in their area of specialty, according to a comprehensive global survey by Rigzone, the leading online resource for oil and gas information, data and talent recruitment. This confidence ...

Piedmont Natural Gas Files for Further Reductions in Natural Gas Rates in North Carolina and South Carolina

18 Jan 2012 09:21:04 EST

Charlotte, N.C., January 18, 2012 - Piedmont Natural Gas (NYSE: PNY) has filed for further reductions in its natural gas rates for customers in North Carolina and South Carolina.Last week's filings before both the North Carolina Utilities Commission and the Public Service Commission of South Carolina reflect continuing declines in the Company's wholesale natural gas costs. If approved by the respective commissions, the new rates would ...

Eagle Oil Holding Company Inc. Engages New York Based Consultant and Advisory Group DME Capital LLC

17 Jan 2012 10:33:04 EST

Reno, NV., January 17, 2012 - Eagle Oil Holding Co. Inc. (Symbol: EGOH), announced that it has retained the Consultant and Advisory GroupDME Capital LLC ("DME") a New York based Advisory Group, to provide a broad range of strategic and financial advisory services. Brian Wilmot CEO of Eagle Oil Holding Co. stated, "Our agreement with DME will consist of them soliciting 'developers' or financial investors to assist ...

Western Gas Partners Completes Acquisition of Midstream Assets from Anadarko

17 Jan 2012 09:34:55 EST

Houston, January 17, 2012 - Western Gas Partners, LP (NYSE:WES) announced it has completed the acquisition of certain midstream assets from Anadarko Petroleum Corporation (NYSE:APC) for total consideration of approximately $483 million. Under the terms of the acquisition agreement, Western Gas acquired Anadarko’s 100-percent ownership interest in Mountain Gas Resources LLC, which owns the Red Desert Complex, a 22% interest ...

Chevron Confirms Fire Incident On Rig Offshore Nigeria

17 Jan 2012 09:32:36 EST

San Ramon, CA., January 17, 2012 - Chevron Corporation (NYSE:CVX) reports that its subsidiary, Chevron Nigeria Limited, is working to contain a fire that ignited early this morning aboard the K.S. Endeavor, a drilling rig offshore Nigeria operated by FODE Drilling Nigeria Limited. The rig was drilling a natural gas exploration well, located in the Funiwa Field approximately six miles (10 kilometers) offshore and in approximately 40 ...

Spectra Energy Secures Two Shippers for Its Texas Eastern Appalachia to Market (TEAM) 2014 Expansion; Binding Open Season to Be Held

17 Jan 2012 08:52:47 EST

Houston, January 17, 2012 - Spectra Energy Corp's (NYSE: SE) Texas Eastern Transmission, LP (Texas Eastern) announced it has reached binding agreements with two anchor shippers for its TEAM 2014 project, an expansion of its existing Texas Eastern system to deliver additional emerging Appalachian shale natural gas supplies to diverse markets in the Northeast, Midwest and Southern U.S. These commitments provide sufficient market ...

Amazon Defense Coalition Says U.S. Law Firms Bill Chevron Exorbitant Fees To Prevent Clean-up of Ecuador Pollution Crisis

16 Jan 2012 14:19:40 EST

New York, January 16, 2012 - While indigenous groups in Ecuador's Amazon face possible death and grave illness from Chevron's "Rainforest Chernobyl" disaster, several prominent U.S. law firms and their well-known partners are billing the oil giant hundreds of millions of dollars to forestall a clean-up that could save thousands of lives, according to court documents. Chevron's lead outside law firm in the U.S., Gibson ...

Pembina Pipeline Corporation to Acquire Provident Energy Ltd., to Create Leading North American Energy Infrastructure Company

16 Jan 2012 09:26:00 EST

Calgary, AB, January 16, 2012 - Pembina Pipeline Corporation (TSX: PPL, PPL.DB.C) ("Pembina") and Provident Energy Ltd. (TSX: PVE, PVE.DB.E, PVE.DB.F, NYSE: PVX) ("Provident") are pleased to announce they have entered into an agreement (the "Arrangement Agreement") for Pembina to acquire all of the issued and outstanding common shares of Provident (the "Provident Shares") by way of a plan ...

Utility Programs Now Widely Available to Reduce Customer Energy Costs through Improved Natural Gas Efficiency

9 Jan 2012 09:16:00 EST

Washington, D.C., January 5, 2012 - High wintertime heating costs are a seasonal reality for households across much of the United States-anywhere with a cold winter climate. While homeowners can't change the weather, they can change their dwellings to keep the cold outside and use less energy to maintain comfortable conditions inside. Natural gas utilities have been instrumental in helping their customers manage and reduce their energy ...