Energy Financial

Small-scale LNG projects: Growing demand spurs technology joint venture

Energy Financial

Modular technology can be used on projects up to 500,000 gallons/day of LNG production Growing demand for LNG in the American transportation sector is driving the construction of small-scale plants, according to two Houston-based firms that are stepping up their efforts to serve the rapidly expanding market. Kiewit Energy Company and Air Products have agreed to collaborate […]

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National Oilwell Varco reports Q3 net income of $155 million

Energy Financial

National Oilwell Varco Q3 2015 revenues were $3.31 billion, down 15% from Q2 and 41% from Q3 2014 HOUSTON – National Oilwell Varco, Inc. today reported that for its third quarter ended Sept. 30 it earned net income of $155 million or $0.41 per fully diluted share, compared to second quarter ended June 30, 2015 net income of $289 million, or $0.74

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Hummel Station: 1,124 MW coal to natural gas power plant one of largest in US

Energy Financial

Hummel Station will draw natural gas from Marcellus Shale DALLAS – Panda Power Funds has financed the 1,124 megawatt Hummel Station power plant — one of the largest coal-to-natural gas power conversion projects in the United States. The plant will be located at the site of the retired Sunbury coal-fired power plant near Shamokin Dam in

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WPX Energy promotes Clay Gaspar to Chief Operating Officer

Energy Financial

Gaspar has master’s degree in petroleum/geosciences engineering from University of Texas – WPX Energy TULSA, Okla. – WPX Energy has promoted Clay M. Gaspar to Senior Vice President and Chief Operating Officer, effective Nov. 2. Gaspar joined WPX in October 2014 as Senior Vice President of Operations and Resource Development. Under Gaspar’s leadership, WPX has significantly

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Duke Energy to acquire Piedmont Natural Gas for $4.9 billion in cash

Energy Financial

Piedmont shareholders receive $60 cash for each share of common stock, 40% premium over Oct. 23 closing price Duke Energy, the largest US electrical utility, announced Monday it is acquiring Piedmont Natural Gas for approximately $4.9 billion in cash. The boards of directors of both companies have unanimously approved the deal. “We look forward to welcoming Piedmont’s employees

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Chinese company buying Texas oil fields for $1.3 billion

Energy Financial

Chinese investment approved by US government A Chinese investment holding company said it has signed a letter of intent to purchase oil fields in Texas for 8.3 billion yuan ($1.3 billion) through a limited liability partnership. In a disclosure to the Shanghai Stock Exchange, Yantai Xinchao Industry Co. Ltd. said the oil fields in Howard and Borden counties

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Energy Revenue America expanding coal bed methane production in OK

Energy Financial

New mineral/royalty rights agreements will provide Energy Revenue America with additional acreage for drilling in 2016 Coal bed methane producer Energy Revenue America, Inc. has announced it is buying mineral rights and royalty agreements in Oklahoma. Energy Revenue America says it spent the last 12 months repairing and updating its 65 mile natural gas pipeline and is now ready

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Low oil prices force universities in oil rich states to downsize projects

Energy Financial

Low oil prices impact university donor dollars AUSTIN, Texas – It’s easy to see what oil money means to the University of Texas. Tuition hasn’t budged in three years because of gushing wells in the Permian Basin. More than a few buildings, including the football team headquarters, are named after wildcatters, and a pump jack stands outside

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