Petroleum
PennzEnergy Co. and Sonat Exploration Co. have formed a joint venture to develop coal-bed methane on the 700,000-acre Vermejo Park Ranch near Raton, New Mexico. Under the agreement, Sonat Exploration will pay up to $10 million and underwrite the development for a 36-year lease on PennzEnergy's mineral
Petroleum
Double Eagle Petroleum & Mining Co. (DBLE) has made significant announcements regarding its royalty interests and drilling unit approval in the Sweetwater County and Fremont County areas of Wyoming. The company possesses a 1.25% overriding royalty interest in the Rock Island #4-H Unit Well, operated by Union Pacific Resources
Petroleum
Illinova Energy Partners has made a strategic acquisition of the Indiana-based natural gas management operations of Equitable Resources Marketing Company, marking a significant expansion and strengthening of its Midwestern presence. This move enables the company to offer Indiana businesses new options to reduce their energy costs through efficient energy management
Petroleum industry
Investors largely disregarded positive overseas cues to digest the latest raft of company results, resulting in a mixed day of trade for the Australian sharemarket. The benchmark all ordinaries index fell eight points to 2916.3, while the resource sector firmed 9.6 points to 974.2, buoyed by stronger
Petroleum industry
Azerbaijan's bid to have US sanctions lifted on its oil and gas projects has gained momentum due to its strategic ties with Israel and Turkey, among other factors. The country's efforts to become a major player in the global energy market have been hampered by Section
Petroleum
The modernisation of Sonatrach, Algeria's national oil and gas company, involved a complex restructuring under the leadership of several executives. By early 1994, nine central divisions had been established, including Finance, Research, Planning and Forecasting, and Industrial Strategy and Innovation. The reorganisation was overseen by executives in charge
Petroleum
The successful drilling results of the GC237-1 appraisal well in the Typhoon prospect, located in the Green Canyon area of the Gulf of Mexico, have prompted BHP and Chevron to plan additional appraisal drilling in 1999. The well, operated by Chevron, has penetrated 310 net feet of oil over several
Petroleum
Repsol, the Spanish oil company, has made a significant strategic move by acquiring a 15% stake in Argentina's YPF, Latin America's largest private-sector oil and gas concern. This acquisition marks a major leap for Repsol, which has ambitious plans to become a more balanced oil major
Petroleum
Repsol, the Spanish oil and gas group, has made a significant move towards becoming a multinational giant by acquiring a 15% stake in Argentina's YPF group for $2.01 billion. The acquisition, which represents the bulk of the state's remaining holding in YPF, marks a major
Petroleum
Enterprise Oil, the UK exploration and production company, will cut about 160 jobs from its 800-strong staff as part of its reorganisation programme in response to the low oil price. The 20 per cent reduction will include open positions left vacant since September, when the company froze recruitment and began
Petroleum
Major companies across various sectors in Texas have recently announced significant mergers, deals, and expansions, showcasing the region's thriving business climate. Aronex Pharmaceuticals received substantial payments from Abbott Laboratories, while companies like Metamor Worldwide, Nabors Industries, and Administaff Inc. have made headlines with their respective partnerships and acquisitions.
Petroleum
China's offshore oil production has experienced a remarkable growth over the past 15 years, with the China National Offshore Oil Corporation (CNOOC) leading the charge. According to reports, the CNOOC's offshore oil production has increased by over 200 times since 1982, with the company extracting 20.
