Natural gas
Reading & Bates Corporation's subsidiary, Reading & Bates Development Co., has entered into a letter of intent with Enserch Exploration, Inc. to acquire a 20% working interest in Enserch's Green Canyon 254 Project in the U.S. Gulf of Mexico. This partnership will enable Reading &
Natural gas
Reading & Bates Corporation, a New York Stock Exchange listed company, has responded to a press release issued by Sonat Offshore Drilling Inc. earlier in the day. In a statement, Reading & Bates expressed its lack of enthusiasm for a potential transaction between the two companies, citing the lack of
Gas industry
Ashland Petroleum Company, the largest operating division of Ashland Inc., has been recognized for its exceptional quality performance by Toyota Motor Manufacturing, U.S.A. Inc. for the second consecutive year. The company's dedicated employees have been praised for their hard work and commitment to excellence in supplying
Petroleum industry
Crude prices declined by 8 cents to settle at $19.59/bbl on the New York Mercantile Exchange (Nymex) on Monday, despite rising optimism about a rebound. Tight gasoline supplies and refinery difficulties in the Midcontinent region have lent continued support to the cash and futures gasoline market. Refiners are
Gas industry
J.D. Edwards and New Jersey Natural Gas (NJNG) have announced a joint development effort to create a Customer Information and Billing System, a software solution designed to enhance customer service and streamline business processes for the utility industry. This collaborative project aims to leverage the latest technology to provide
Petroleum industry
Interline Resources Corp., a Utah-based company, has signed a significant stock option agreement with Western India Group, granting Western $4 million worth of common stock at $4.50 per share. This move is aimed at providing working capital for the construction of additional refineries for Western India Group's
Natural gas
Husky Oil Ltd., a private company controlled by Hong Kong billionaire Li Ka-shing, has managed to rake in a small profit in the first quarter of 1995 at its US$1.14 billion heavy oil upgrader in Lloydminster, Saskatchewan. The upgrader, which is owned 50% by the Saskatchewan government, has
Natural gas
As the world's environmental leaders gather in Berlin to discuss how to meet the ambitious goal of reducing greenhouse gas emissions to 1990 levels by the turn of the century, a second national industry group has negotiated a memorandum of understanding with the Canadian government to cut emissions
Natural gas
Canadian gas exports are expected to continue their rapid growth, hitting at least 2.8 trillion cubic feet (Tcf) per year by 2000, driven by a growing U.S. appetite for competitively priced Canadian natural gas. The increase in Canadian exports will be driven by a steady growth in U.
Petroleum industry
Patrick Petroleum Company, an independent oil and gas exploration and production company, has been sued by B.A.R.D. Industries, a Houston, Texas-based company that owns 15.7% of Patrick's common stock. The lawsuit, filed in the District Court of Harris County, Texas, seeks injunctive relief and
Petroleum industry
CEC Resources Ltd., a Calgary, Alberta-based company involved in the production and sales of crude oil, natural gas, and condensate, has begun trading its common stock on the Emerging Company Marketplace (ECM) at the American Stock Exchange (AMEX). The company's stock opened at $4 on 1,000 shares
Gas industry
A lively debate unfolded during a Senate Environment and Public Works Committee hearing on Wednesday, with senators, including James Inhofe of Oklahoma, questioning the impact of environmental regulations on the domestic petroleum industry. Environmental Protection Agency (EPA) Administrator Carol M. Browner testified that a proposed comprehensive cost-benefit law may hinder
