Gas industry
Harbour Petroleum Company Limited, a Calgary-based independent oil and gas exploration and development company, has entered into agreements to raise $7.0 million through private placements and debt financing. The funds will be used to reduce the company's bank indebtedness and accelerate its 1995/96 exploration and development
Gas industry
The Louisiana Land and Exploration Company (LL&E) has engaged Morgan Stanley & Co. Incorporated to explore strategic alternatives for its crude oil refining assets, including a refinery in Saraland, Alabama, that has an inlet capacity of 74 thousand barrels per day. The refinery, situated on an 800-acre tract,
Gas industry
DI Industries, Inc., a holding company headquartered in Houston, Texas, has announced the sale of its producing oil and gas property interests to Unit Petroleum Company, a subsidiary of Unit Corporation, of Tulsa, Okla. The sale, which is expected to close in July 1995, will see DI Industries receive a
Gas industry
Robert W. Martin, a seasoned business leader, has been elected to the Board of Directors of Reed Stenhouse Companies Limited. A respected figure in the industry, Martin brings a wealth of experience to his new role, having held prominent positions in various companies, including Chairman of Silcorp Limited and President
Gas industry
Mobil Corporation has announced significant initiatives to improve the profitability of its European refining operations, focusing on three refineries in Germany, France, and England. The company proposes to close its Woerth refinery in Germany and reduce operating costs at the Gravenchon and Coryton refineries. This restructuring is expected to result
Gas industry
Prominent companies in the Calgary resources and energy industry are converging on the city for meetings and presentations, highlighting significant events and developments in the sector. Key stakeholders from across the country will gather to discuss the future of energy production and collaboration. Key Takeaways: * Atco Ltd. will host a
Gas industry
Conversion Industries Inc. has been facing significant financial challenges, including a default on its loan agreement with CVD Financial Corp. and outstanding debt of $2,331,000 as of April 30, 1995. The company has engaged an underwriter to raise funds, but there is no guarantee that it will ultimately
Gas industry
Enserch Exploration, Inc. has announced that Mobil Exploration & Producing U.S. Inc. has signed a letter of intent to purchase a 40 percent interest in the Green Canyon 254 Allegheny project, subject to mutually acceptable consummation documents. The project, located in the Gulf of Mexico, has shown promising results
Gas industry
A major regulatory decision has been made regarding Washington Natural Gas's rate settlement agreement. The Washington Utilities and Transportation Commission approved the agreement, which will provide the company with additional revenue to cover increased utility non-gas costs without affecting customer rates. Key Takeaways: * The rate settlement agreement provides
Gas industry
Portland General Electric and Anadarko Petroleum Corp. have signed a Memorandum of Understanding for the purchase of power generated by Anadarko's proposed 22-megawatt geothermal plant in southeast Oregon. The project aims to provide clean and renewable energy to Portland General Electric's over 640,000 customers in
Gas industry
Resource Energy Services Company, LLC, a Houston-based natural gas marketing company, has acquired the natural gas marketing assets of Triumph Natural Gas, Inc. (Triumph), a Dallas-based gas gathering and marketing firm. The acquisition includes all of Triumph's natural gas marketing agreements to serve industrial customers in Indiana, Wisconsin,
Gas industry
EnergyNorth, the parent holding company of EnergyNorth Natural Gas, Inc. and EnergyNorth Propane, Inc., reported a decline in earnings for the second fiscal quarter ended March 31, 1995. Earnings for the quarter were $5,904,000, down from $7,283,000 in the same quarter last year. The decline can
