Gas industry
Tipperary Corp., an independent oil and gas producer, is likely to write down the value of its oil and gas properties due to unexpected problems, including water encroachment on producing wells and lower oil and gas prices. The company's reserve value dropped to about $29 million as of
Gas industry
In its largest single purchase of 1994, Apache Corp. has agreed to buy nearly all of Crystal Oil Co.'s U.S. oil and gas properties for approximately $101 million. The acquisition includes net proven reserves of 91.6 billion cubic feet of gas and 5 million barrels of
Gas industry
The U.S. government aims to increase American involvement in Ukraine's oil and gas industry to help the country reduce its dependence on Russian energy sources. U.S. Deputy Energy Secretary William H. White announced the effort at a press briefing, citing the presence of two American firms
Gas industry
Bancomer, Mexico's largest private financial institution, has initiated design work on three prototype banking systems, with The Callison Partnership and ABARQ, S.A. de C.V. driving the project. The designs, expected to be completed by the first quarter of 1995, aim to enhance customer service and further
Gas industry
Unocal Corp. posted operating earnings of $59 million for the third quarter, a decline from the $91 million earned during the same period last year. The decrease was attributed to lower domestic natural gas prices and reduced margins from petroleum refining and marketing operations. However, the company's worldwide
Gas industry
Panic over the Colonial Pipeline Co. accident led to skyrocketing gasoline futures, with November delivery prices jumping 2.59% to 52.46 cents/gallon on the New York Mercantile Exchange. This marks the contract's highest close since August, just as the driving season was peaking. The Environmental Protection
Gas industry
Natural gas prices are expected to remain low throughout 1994, even during the winter months, according to industry officials. The fire and flooding of Colonial Pipeline's gas pipeline in southeast Texas will not affect gas prices, which remained stable after the incident. The November 1994 futures contracts were
Gas industry
Crude prices took a bearish turn on Tuesday due to high industry inventory numbers and news that Brazilian oil workers had agreed to return to work. The November West Texas Intermediate (WTI) crude futures fell 7 cents to close at $18.01 per barrel, while November Brent futures followed suit,
Gas industry
Oil prices surged to a seven-week high on Friday, fueled by a fourth day of a Brazilian oil workers' strike, with West Texas Intermediate (WTI) futures for November delivery jumping 41 cents to close at $18.39/bbl on the New York Mercantile Exchange (Nymex). Across the Atlantic, November
Gas industry
Gasoline prices in the US regained some lost ground on Thursday, October 26, as unleaded regular gasoline futures for October delivery rose 0.39 cents to 48.39 cents per gallon on the New York Mercantile Exchange. The price increase was attributed to a surprise drawdown of stocks and higher
Gas industry
Oil prices remained unaffected by the end of a 9-week-long oil workers' strike in Nigeria, as traders shifted focus to a favorable report by the International Energy Agency (IEA) on winter supply and demand. The collapse of the strike, which had failed to gain sufficient international or domestic support,
Gas industry
Washington's ongoing supply gluts have driven natural gas prices to 19-month lows, making it an attractive option for dual-capacity power generators this fall. Industry sources report that natural gas prices have fallen to $1.66/MMBtu, while fuel oil prices remain relatively high at $2.70/MMBtu. Consumers
