Petroleum
Mobil Exploration & Producing U.S. Inc. (MEPUS), an affiliate of Mobil Oil Corporation, has entered into a strategic exploitation and development drilling alliance with J.M. Huber Corporation and Quisto Ventures, L.C. The alliance aims to drill high-quality prospects in the Upper Wilcox Trend in western Duval County,
Gas industry
CMS Energy Corporation, an international energy company with operations in the United States and 16 countries worldwide, has successfully sold a $180 million debt instrument to finance its business operations. The debt instrument, with an interest rate of 7.0 percent, will be repaid through the sale of pass-through certificates
Gas industry
Energy shares plummeted last week as falling oil prices and a broad market decline took a toll on the sector. The Oil Daily 30 Composite Index lagged behind the Dow Jones Industrial Average, which dropped 385 points, or 4.8%, on the week. Despite the market's traditionally strong
Petroleum
In a carefully calibrated diplomatic move, U.S. Undersecretary of State for Political Affairs Thomas Pickering is understood to have briefed French officials that the Clinton administration is likely to impose sanctions on Total S.A., a French energy company, over its involvement in the development of Iran's
Gas industry
Callon Petroleum Company has announced a major oil discovery on Eugene Island Block 335, following the drilling of the Eugene Island Block 335 No. A-3 well. The well has encountered approximately 170 feet of net oil and gas pay in four intervals, with one of the oil-bearing pay sands not
Petroleum
Ross Systems, a leading supplier of business software solutions, announced a new contract with Syncrude Canada, Ltd. in the energy marketplace. Under the agreement, Syncrude licensed Ross Systems' Renaissance CS Human Resource System, valued at $425,000. This deal marks another significant addition to Ross Systems' growing list
Gas industry
ICO, Inc. has acquired the assets of Curley's Inspection Service, Inc., a company that provides drill pipe and casing inspection services from locations in the Permian Basin and southeast New Mexico. This acquisition strengthens ICO's drill pipe services, an important market segment, and expands its presence
Gas industry
The acquisition of Petroleum Information / Dwights LLC (PI/Dwights) by Information Handling Services Group Inc. (IHS Group) has created a global leader in energy information, combining the expertise and resources of both companies. PI/Dwights, a leading source of oil and gas production and well history data across North America
Petroleum industry
Last week was a mixed bag for energy company shares, with some firms experiencing significant gains while others faced significant losses. The Oil Daily 30 Composite index outperformed the Dow Jones Industrials Average, which suffered moderate losses for the fourth straight week. Key Takeaways: * Berkshire Gas Co. saw a 27%
Petroleum industry
Standard & Poor's has assigned its single-'B'-minus rating to KCS Energy Inc.'s proposed offering of $125 million senior subordinated notes due 2008. The rating is placed on CreditWatch with positive implications, reflecting the start-up of KCS' new sour gas treatment plant
Gas industry
Canadian energy companies have suffered a 20% decline in share prices in the fourth quarter of 1997, largely due to weather, domestic and foreign economic factors, and concerns about oil and gas prices. Although the Asian economic crisis has had an impact on worldwide demand growth, its effect on Canadian
Gas industry
MidAmerican Energy Holdings Company has finalized the sale of its subsidiaries, InterCoast Oil and Gas Company, GED Energy Services Inc., and InterCoast Gas Services Company, to KCS Energy Inc. of Edison, N.J. The transaction, which was previously agreed upon in November 1996, involved a cash payment of approximately $210
