Gas industry
AGL Resources Inc., Piedmont Natural Gas Company, Inc., and Dynegy Inc. have formed SouthStar Energy Services LLC to provide a combination of unregulated energy products and services to industrial, commercial, and residential customers in the Southeast. The new company will offer natural gas, electricity, fuel oil, and propane, along with
Gas industry
Southern Co. has decided not to sell natural gas to homes and businesses in its home state when the industry first opens to competition this fall, citing concerns about getting into a new business. The utility holding company will not meet the July 15 deadline for seeking certification from the
Gas industry
R&B Falcon Corporation, a leading player in the deepwater drilling industry, has finalized two significant contracts with Petrobras and Statoil. The company will provide a dynamically positioned offshore production unit, "SEILLEAN," and extend the drilling contract for its "DEEPWATER MILLENNIUM" drillship. These contracts are
Gas industry
Lingering heat in the southern United States, driven by high electricity demand, has tightened natural gas supplies in other regions, leading to increased prices in the Midwest. The American Gas Association reported that despite mild weather in the Northeast, storage capacity holders will struggle to meet the 96 Bcf injection
Petroleum industry
New Energy Ventures, a rapidly-growing technology-based energy company, has formed strategic alliances with Mendelsohn/Zien Advertising and Sitrick and Co. to aid in its marketing efforts and provide strategic consulting and corporate relations services. The company, founded in 1995, serves customers in emerging competitive energy markets across the United States,
Petroleum industry
As regulatory bodies scrutinize the industry, key players are making bold moves to expand, merge, and strengthen their positions in the global energy landscape. Last week, a range of significant developments in the energy sector highlighted the ever-changing landscape of deal-making, partnerships, and technological advancements. Key Takeaways: * Coastal Petroleum Co.
Petroleum
Thunderwood Resources Inc. ("Thunderwood") and Joutel Resources Limited ("Joutel") have agreed in principle to a proposed merger, where each shareholder of Thunderwood and Joutel will receive one common share of the merged company for each six shares held. The merger is intended to create a larger
Petroleum
Northstar Energy Corporation and Devon Energy Corporation have reached a definitive agreement to merge the two companies, creating a top-tier oil and gas producer in North America. The combined company will have a strong presence in both the US and Canada, with a balanced portfolio of reserves and a significant
Petroleum industry
Humboldt, a company controlled by Robert W. Lamond, has made a substantial investment in Diaz Resources Ltd., acquiring 519,500 Class A Subordinate Voting Shares and options to purchase a further 250,000 Class A Subordinate Voting Shares and 107,500 Class B Multiple Voting Shares. This acquisition represents a
Petroleum industry
Forest Oil Corporation has acquired an additional interest in the Katy Field, located in Harris County, Texas, from Amoco for $14.6 million. This acquisition has increased Forest's average working interest in the field from approximately 33% to approximately 49%. The addition of this interest is expected to
Petroleum
Cambridge Energy Corp., an oil and gas production company, has announced its plan to become a reporting company by filing a Registration Statement with the Securities and Exchange Commission. This move will subject the company to federal securities laws, including quarterly and annual reporting requirements. As a result, Cambridge Energy
Petroleum
EEX Corporation, a major oil and gas exploration and production company, has completed sidetrack drilling operations at the Llano prospect on Garden Banks Block 386 in the Gulf of Mexico. Analysis of logging data indicates the presence of hydrocarbon-bearing sands in the Lower Pliocene and Miocene aged sections, similar to
