Natural gas
Brooklyn Union, a leading gas distributor in the New York City boroughs, has announced that it is exploring ways to maximize the value of its wholly-owned cogeneration subsidiary, Gas Energy Inc. (GEI). This decision comes as a result of the deregulation in the electric industry, which has added to the
Natural gas
The development of oil fields in southern Sudan by a Canadian-led project, spearheaded by Vancouver-based Arakis Energy Corp., has raised suspicions due to the lack of transparency surrounding the key players involved. Arab Group International (AGI), a Saudi group touted as the financial savior of the project, is proving difficult
Natural gas
Natural gas futures prices spiked in thin trading, driven by hot weather and concerns over a tropical storm brewing in the Gulf of Mexico. Traders like George Ellis, a GSC Energy representative, attributed the price increase to biases in the market, often triggered by such factors. Meanwhile, other energy futures
Natural gas
Hot weather and the approach of a tropical storm pushed natural gas futures prices sharply higher in thin trading yesterday. As temperatures in the Midwest and Northeast are forecasted to climb into the 90's, natural gas prices rose in response to anticipated heavy air-conditioner use. The Commodity Research
Natural gas
Associated Natural Gas Corporation, a subsidiary of Panhandle Eastern Corporation, has signed a letter of intent to purchase the remaining Wattenberg gas system in Weld County, Colorado, from Snyder Oil Corporation for $63.5 million. The facilities, including a gas processing plant and 900 miles of pipeline and related compressors,
Natural gas
Williams Energy Ventures, a subsidiary of The Williams Companies, Inc., has completed the purchase of Pekin Energy Company from a partnership of Texaco Inc., CPC International Inc., and Enzyme Bio-Systems Ltd. The facility produces 100 million gallons of fuel-grade and industrial ethanol annually and is expected to contribute to Williams&
Natural gas
Leviathan Gas Pipeline Partners, a publicly owned limited partnership, has entered into an agreement with the working interest owners of the Ram-Powell field, located in the Viosca Knoll area offshore Louisiana. The agreement involves connecting a tension leg platform, to be located on Viosca Knoll Block 956, to Leviathan'
Natural gas
Shell Oil Company's second quarter of 1995 saw a net income of $385 million, representing an increase of $579 million over the 1994 period. Excluding special items, adjusted net income totaled $387 million, a 51% increase from the previous year. The company's president, Philip J. Carroll,
Petroleum industry
Canadian Occidental Petroleum Ltd., a Canadian energy company, has reported record quarterly cash flow and net income, exceeding expectations and significantly enhancing the company's financial flexibility. The company's strong performance is attributed to its diversified operations, robust crude oil production, and successful expansion into international markets.
Gas industry
Scientific Software-Intercomp Inc. (Nasdaq: SSFT) has made a significant move in the oil and gas industry by signing a worldwide agreement with Shell International Petroleum Maatschappij B.V. (SIPM) in Holland. This agreement follows an extensive technical evaluation of SSI's complete range of Off-line Simulation Software Products, including
Gas industry
The Reading & Bates Corporation, a leading offshore drilling services provider, announced its financial results for the quarter ended June 30, 1995, showing a significant improvement from the previous year's net loss. The company reported a net income of $2.4 million, or $0.02 per share after
Petroleum industry
Consolidated Ramrod Gold Corp. has reported a significant oil and gas production milestone in Texas, with its Kocian Unit No. 1 well producing 3,521 barrels of 42-degree API crude oil and 650 MCF of gas per day. The well, drilled in May 1995, is currently producing at a rate
