Petroleum industry
Foster Wheeler Corporation, a global leader in design, engineering, and construction services, has been awarded a contract by MOL Hungarian Oil and Gas Company (MOL) for the design of a new coker at the Szazhalombatta refinery. The project is part of MOL's broader modernization program and will utilize
Petroleum industry
JKX Oil & Gas is facing significant financial difficulties due to payment delays for gas sales in Ukraine, a situation that has been exacerbated by an abortive takeover bid by Ramco Energy. The company's shares have been affected by these developments, and it has announced the resignation of
Gas industry
The American Stock Exchange announced that it will start trading options on the over-the-counter stock of 3Dfx Interactive, Inc. and the Amex-listed stock of Seven Seas Petroleum Inc. effective February 6. 3Dfx Interactive, a San Jose-based company, develops high-performance 3D media processors and software used in multiple hardware entertainment platforms.
Gas industry
Unocal Corporation, a leading global energy resource and project development company, has announced the extension of its common stock repurchase program. The company's board of directors has authorized management to buy back up to $200 million worth of Unocal's common stock. The repurchases will be made
Petroleum industry
Columbia Energy Group, a leading energy company, reported a significant increase in net income for 1997, reaching a record high of $273.3 million, or $4.93 per share. This represents a substantial improvement over the previous year, with net income increasing by $51.7 million, or 81 cents per
Petroleum industry
Abraxas Petroleum Corporation, a San Antonio-based crude oil and natural gas exploration and production company, has announced a private offering of $60 million in 11.5% Senior Notes due 2004, Series C. The notes will be priced at approximately 106.75% of par to yield a minimum "yield to
Gas industry
CMS Energy Corporation, an international energy company with operations in the United States and 16 countries worldwide, has successfully sold a $180 million debt instrument to finance its business operations. The debt instrument, with an interest rate of 7.0 percent, will be repaid through the sale of pass-through certificates
Gas industry
Energy shares plummeted last week as falling oil prices and a broad market decline took a toll on the sector. The Oil Daily 30 Composite Index lagged behind the Dow Jones Industrial Average, which dropped 385 points, or 4.8%, on the week. Despite the market's traditionally strong
Gas industry
Callon Petroleum Company has announced a major oil discovery on Eugene Island Block 335, following the drilling of the Eugene Island Block 335 No. A-3 well. The well has encountered approximately 170 feet of net oil and gas pay in four intervals, with one of the oil-bearing pay sands not
Gas industry
ICO, Inc. has acquired the assets of Curley's Inspection Service, Inc., a company that provides drill pipe and casing inspection services from locations in the Permian Basin and southeast New Mexico. This acquisition strengthens ICO's drill pipe services, an important market segment, and expands its presence
Gas industry
The acquisition of Petroleum Information / Dwights LLC (PI/Dwights) by Information Handling Services Group Inc. (IHS Group) has created a global leader in energy information, combining the expertise and resources of both companies. PI/Dwights, a leading source of oil and gas production and well history data across North America
Gas industry
Canadian energy companies have suffered a 20% decline in share prices in the fourth quarter of 1997, largely due to weather, domestic and foreign economic factors, and concerns about oil and gas prices. Although the Asian economic crisis has had an impact on worldwide demand growth, its effect on Canadian
