Petroleum industry
Mitchell Energy & Development Corp., a large independent energy producer, has expanded its presence in the Pinehurst area of Montgomery County, Texas, with the acquisition of a 100 percent working interest in the Lake Creek Field from Mobil, Amoco, and Amerada Hess for $26 million. This strategic purchase includes 32
Gas industry
Duff & Phelps Credit Rating Co. (DCR) upgraded seven Chilean companies after upgrading the sovereign rating of the Republic of Chile to "A-" from "BBB+." The upgrades reflect the positive impact of the sovereign upgrade on companies rated at the sovereign ceiling, with local currency ratings
Petroleum industry
Reunion Resources Company has acquired all of the outstanding capital stock of Oneida Molded Plastics Corporation from Chatwins Group, Inc. Oneida manufactures precision plastic products and provides engineered plastics services, operating three injection molding facilities in New York and North Carolina. The acquisition is part of Reunion's strategy
Petroleum industry
Atlantic Richfield Co. (Arco) has significantly increased its five-year capital spending program, with Chairman and Chief Executive Mike R. Bowlin announcing plans to spend $13.1 billion between 1995 and 1999, up 42% from the previously announced plan. This move is aimed at expanding the company's international operations
Gas industry
USX-Delhi Group, a unit of USX Corporation, announced that Delhi Gas Pipeline Corporation has completed negotiations with Marathon Oil Company for a 10-year gas gathering, treating, and transportation agreement. The agreement covers a significant area in East Texas, where Marathon plans to move a minimum of 90 billion cubic feet
Gas industry
Hugoton Energy Corporation, a leading independent oil and natural gas company, has completed the acquisition of Consolidated Oil & Gas Inc., a privately owned oil and gas company based in Denver, Colorado. The transaction, which was approved by Hugoton's shareholders at a special meeting in Wichita, Kansas, marks
Gas industry
Enron Oil & Gas Company, a wholly-owned subsidiary of Enron Corporation, has successfully bid for the Modified U(a) Block located off the East coast of Trinidad and Tobago. The acquisition of this 96,075-acre block is expected to provide promising opportunities for commercial development, given its geology and hydrocarbon
Petroleum industry
Hugoton Energy Corporation has announced the drilling and completion of several significant oil and condensate extension wells in Seward and Haskell Counties, Kansas. The company has successfully drilled 12 wells in the multi-pay Victory Pool area, with 10 of them flowing oil. The wells have also produced natural gas, with
Petroleum industry
Apache Corporation, one of the nation's larger gas and oil independents, has announced the results of preliminary production tests in four intervals of its C-3 appraisal well on Bohai Bay's Zhao Dong Block in the People's Republic of China. The tests, which evaluated the
Natural gas
Torch Energy Advisors Inc. has agreed in principle to purchase Unocal Corp.'s crude oil and natural gas holdings in California for more than $500 million in cash. The acquisition, subject to final agreement and approvals, will add significant assets under management for Torch, making it a major event
Natural gas
Torch Energy Advisors Inc. and its institutional investors have reached an agreement in principle with Unocal Corp. on the sale price for Unocal's crude oil and natural gas holdings in California, valued at over $500 million. The negotiations are ongoing, and a final sale agreement is expected to
Natural gas
Three major pipeline companies, Mid-America Pipeline Company, Amoco Pipeline Company, and Navajo Pipeline Company, have signed a memorandum of understanding to form a joint venture that will provide pipeline transportation of natural gas liquids to Pemex Gas y Petroquimica Basica's Mendez terminal in northern Mexico. The joint venture
