Gas industry
Energen Corporation, a diversified energy company, announced a 3.6 percent increase in its quarterly cash dividend to 29 cents per share, marking the 13th consecutive annual dividend increase since the company's formation in 1953. The new dividend rate is payable on September 1 to shareholders of record
Gas industry
Brooklyn Union Gas's third quarter results revealed a loss of $6.2 million, or 13 cents per share, attributed to the seasonal nature of gas-heating sales. However, the company's consolidated earnings for the first nine months of fiscal 1995 were $110.1 million, or $2.29
Gas industry
Scientific Software-Intercomp Inc. (Nasdaq: SSFT) has made a significant move in the oil and gas industry by signing a worldwide agreement with Shell International Petroleum Maatschappij B.V. (SIPM) in Holland. This agreement follows an extensive technical evaluation of SSI's complete range of Off-line Simulation Software Products, including
Gas industry
The Reading & Bates Corporation, a leading offshore drilling services provider, announced its financial results for the quarter ended June 30, 1995, showing a significant improvement from the previous year's net loss. The company reported a net income of $2.4 million, or $0.02 per share after
Petroleum industry
Reading & Bates Corporation has announced that its fourth-generation semisubmersible JACK BATES has been awarded a contract by Mobil North Sea Limited for the drilling of three wells in the UK sector of the North Atlantic. The contract value is estimated at approximately $32 million, with an additional $12.5
Petroleum industry
Wall Street analysts predict a strong second-quarter financial performance for major oil companies, driven by a favorable chemicals market, higher crude prices, and improved refining profits. However, analysts warn that these positive factors may decline in the second half of the year. Oil stocks' prices reflect the industry'
Gas industry
Mesa Inc, a debt-ridden natural gas company, is expected to consider selling or merging itself following a request from Chairman T. Boone Pickens, Jr. However, analysts doubt the company will receive attractive offers due to its high debt and limited equity value. Meanwhile, Mesa has filed a lawsuit against investors
Gas industry
The Dennis Washington/Marvin Davis Group has issued a statement in response to MESA Inc.'s lawsuit, labeling the allegations as "totally without merit." The group claims that experienced individuals, including Dennis Washington, Marvin Davis, and Roger Batchelder, would not violate securities laws. The lawsuit is seen
Gas industry
Occidental Petroleum Corp., a multinational oil and gas company, has reached a tentative settlement with the U.S. Department of Energy (DOE) for $275 million. The settlement relates to OXY USA Inc.'s purchases and sales of crude oil between October 1979 and January 1981, prior to Occidental'
Gas industry
Senator Frank H. Murkowski, chairman of the Senate Energy and Natural Resources Committee, is facing criticism from environmentalists for his investments in oil and timber industries, including shares in Chevron Corp. owned by his mother, which he refuses to sell. The Alaska Coalition, comprising state environmental groups, claims that Murkowski&
Gas industry
The Zapata Corporation, a leading energy company, has completed the sale of its natural gas reserves to Hunt Oil Company. As part of its strategic shift, Zapata's board of directors has authorized the repurchase of up to 7.5 million shares of the company's common stock.
Gas industry
Clinton Gas Systems Inc., a natural gas and oil exploration and production company, has reached an agreement with Columbia Gas Transmission Corp. to settle its bankruptcy claim against the latter. The settlement is expected to bring in approximately $5 million for Clinton Gas Systems Inc. The company plans to use
