Gas industry
Williams Companies, Inc. has completed its tender for Transco Energy Company, resulting in a significant shift in the business and financial risk profile of the company. Duff & Phelps Credit Rating Co. has taken rating action, assigning a "BBB-" (Triple-B-Minus) rating to Williams and Transco, reflecting the increased
Gas industry
Confusion over oxygenate requirements led to significant fluctuations in gasoline futures on the New York Mercantile Exchange (Nymex). Reports that the whole New York Harbor delivery area might shorten the winter oxygenate season sent March gasoline plummeting more than 1 cent in overnight trading. However, in the afternoon, the contract
Gas industry
Unocal Corp.'s chief executive, Roger C. Beach, announced the company's plans to increase capital spending by 10% in 1995, totaling $1.4 billion. The increased investment will focus on growth in three strategic business areas: the development of new oil and gas ventures, refinery modifications, and
Gas industry
Landmark Graphics Corp. announced significant financial results for the second quarter of 1995, showcasing a 15% increase in revenues over the prior year period. The company reported net earnings of $5.6 million, or $0.34 per share, compared to $5.0 million, or $0.32 per share, in the
Gas industry
Unseasonably warm weather, increased output by domestic gas producers, and enhanced storage and transmission flexibility due to deregulation have created a supply glut in the natural gas market, causing prices to plummet. The current market situation is often compared to the gas bubble of the early 1990s, with many industry
Gas industry
ENSRCH Corporation's Chairman, President, and CEO David Biegler is participating in the Presidential Business Development Mission to India, sponsored by the Department of Commerce. Led by Commerce Secretary Ronald H. Brown, the mission aims to promote India's economic reforms and increase foreign investment opportunities for U.
Natural gas
Southwest Airlines inaugurated daily service from Omaha, Nebraska, on March 4, 1995, with nine daily nonstop flights to three cities: Chicago's Midway Airport, Las Vegas, and Phoenix. The airline's vice president of governmental affairs, Ron Ricks, made the announcement, highlighting the economic benefits of the new
Petroleum industry
The Mobil Corporation has recently launched a series of advertisements entitled "Clearing the Air," which aim to educate the public about fuel cells, a device that produces power from hydrogen without combustion or pollution. However, Fuel Cells 2000, a non-profit educational organization, has questioned the accuracy and motives
Petroleum industry
Benton Oil and Gas Co., a leading independent oil and gas exploration and production company, has announced the successful testing of its initial well on the Rabbit Island Field in St. Mary and Iberia Parishes, Louisiana. The well, designated as the Rabbit Island State Lease 340 No. 1, has demonstrated
Natural gas
Crude oil prices took a hit on the New York Mercantile Exchange (Nymex) on Monday, with February crude dropping 27 cents to $17.40/bbl. The decline in heating oil futures was particularly significant, with February heating oil plummeting 1.19 cents to 48.33 cents/gallon. Natural gas prices
Gas industry
Presidio Oil Company, an independent oil and gas company, has successfully completed the A.T.I.C. 26-11 No. 1 well in the North Barnett Field in Conecuh County, Alabama. The well, located in the Smackover formation, has tested at an initial rate of 430 barrels of oil per day
Gas industry
Granisko Resources Inc. has recently undergone significant changes in its Board of Directors and management team. The company announced the appointment of Mr. Raymond Forseth and Mr. Terence Gibson to its Board of Directors, bringing a total of over 70 years of experience in the oil and gas industry. This
