Latest News

ZaZa Energy names Brooks president

Tue, 22 May 2012 17:51:00 GMT

ZaZa Energy Corp. announced May 21 it has named Todd Alan Brooks president.

Greentech Capital advises on largest Chinese investment in US company

Tue, 22 May 2012 17:24:00 GMT

Greentech Capital Advisors served as financial advisor on the largest investment by a Chinese corporation into a venture-capital funded, US-based company. It advised GreatPoint Energy, Inc., a US developer of coal gasification projects, on its $1.25 billion investment from China Wanxiang Holding Co., Ltd., a major China-based industrial conglomerate. The partnership included an investment commitment of over $420 million and a project equity and credit support partnership commitment of $830 million from Wanxiang Holding to GreatPoint Energy.

D. Kirk Edwards joins Recovery Energy board

Tue, 22 May 2012 15:57:00 GMT

Recovery Energy, Inc. has appointed D. Kirk Edwards to the company's board of directors. His appointment brings the current Recovery Energy board to five members, four of whom are independent outside directors.

Aker Solutions buys Lyngdal Mek. Verksted, completes takeover of Herman Hansen Mek. Verksted

Thu, 17 May 2012 18:41:00 GMT

Aker Solutions is acquiring the mechanical workshop company Lyngdal Mek. Verksted (LMV), thereby increasing its capacity to assemble, test and overhaul drilling equipment ,especially for the North Sea market.

`Unusual market activity' in Venoco stock

Wed, 16 May 2012 20:37:00 GMT

Denver-based Venoco Inc. [NYSE: VQ] said May 16 that it has been contacted by the New York Stock Exchange regarding the “unusual market activity” in the company’s common stock. The company stated that its policy is not to comment on unusual market activity and that it has no pending announcements.

Forum Energy's blowout preventer actuation tool passes test

Wed, 16 May 2012 20:11:00 GMT

Forum Energy Technologies, Inc. has successfully tested its subsea Blowout Preventer Actuation Tool (BOP-AT) on a live well off the coast of West Africa at a water depth of over 1000 meters. The tool successfully closed the blowout preventer using power provided by a remotely operated vehicle,

Apache's North Sea well flows better than expected

Wed, 16 May 2012 18:33:00 GMT

Apache Corp. today announced that an extension well had initial production rates higher than any oil well drilled at the Beryl Field in the UK North Sea since 2001.

Trio of energy lawyers join Baker Botts

Wed, 16 May 2012 18:18:00 GMT

A trio of energy lawyers has joined Baker Botts LLP in New York and Houston.

Martin Midstream's revolving credit facility reaches $400M

Wed, 16 May 2012 16:48:00 GMT

Martin Midstream Partners LP announced May 10 that it has increased the size of its revolving credit facility to $400,000,000. This represents an increase of $25,000,000 as it has added ABN AMRO Capital USA LLC to its syndicate of lenders. The revolving credit facility is the partnership’s primary source of liquidity and matures April 15, 2016.

El Salvador plans geothermal training center with IDB grant

Tue, 15 May 2012 21:19:00 GMT

The National Energy Board of El Salvador will establish a geothermal training center thanks to a $2 million grant from the Inter-American Development Bank.

H20's Crapzapper division to provide aftermarket parts

Tue, 15 May 2012 21:06:00 GMT

H2O Inc.’s Crapzapper™ division has expanded its offerings to provide aftermarket parts for electrolytic type sewage treatment systems.

Keystone XL Pipeline depicted in info-graphic

Tue, 15 May 2012 20:28:00 GMT

Visual Capitalist recently published an info-graphic on the Keystone XL Pipeline. Although it’s pretty basic, it visually describes the situation very well.

Avista Capital to acquire Top-Co

Mon, 14 May 2012 18:13:00 GMT

Private equity firm Avista Capital Partners announced today it has signed a definitive agreement to acquire Top-Co Inc., a privately-held, designer and manufacturer of specialized casing cementing products used in the drilling and completion of oil, natural gas and geothermal wells. Terms of the transaction, which is expected to close in the second quarter of 2012, were not disclosed.

Prior Sasol exec named to BHP Billiton board

Mon, 14 May 2012 17:56:00 GMT

BHP Billiton Chairman Jac Nasser today announced the appointment of Pat Davies to
the BHP Billiton Board as an independent non-executive director, effective June 1.

Rick Bott joins Continental as president, COO

Mon, 14 May 2012 17:40:00 GMT

Continental Resources, Inc. today announced a transition in senior management. Jeff Hume, president and chief operating officer, will assume the role of vice chairman of strategic growth initiatives, and Rick Bott will succeed Hume as president and chief operating officer. The leadership changes will be effective June 4.

PDC Energy to acquire Core Wattenberg assets, accelerate Niobrara development

Mon, 14 May 2012 17:21:00 GMT

Denver, Colo.-based Petroleum Development Corp. today announced it has executed a definitive agreement to acquire Core Wattenberg assets that contain significant liquid-rich horizontal drilling opportunities from a private party for a purchase price of approximately $330.6 million. The effective date of the transaction is April 1, 2012 with closing scheduled for June 29, 2012.

Spectraseis achieves high-speed imaging of microseismic data

Fri, 11 May 2012 22:28:00 GMT

Spectraseis, a Houston, Texas-based provider of microseismic fracture imaging, stimulation evaluation and seismic monitoring, has achieved a substantial speed-up (compared to CPU implementations) for processing microseismic data, using proprietary algorithms and techniques to get the most out of NVIDIA® Tesla® GPUs based on NVIDIA's Fermi architecture.

CNOOC signs contract with Roc Oil for exploration off Bohai

Fri, 11 May 2012 22:00:00 GMT

Hong Kong-based CNOOC Limited today announced that its parent company, China National Offshore Oil Corp., has signed a production sharing contract (PSC) with Roc Oil (Bohai) Company for Block 09/05 in Bohai.

LEIF: Venture capital investment in water technology bubbling up

Fri, 11 May 2012 21:18:00 GMT

A report released today by the London Environmental Investment Forum reveals increasing venture capital investment activity in companies that are providing innovative water solutions to the oil and gas and mining industries.

Oxy names Melissa Schoeb VP of corporate communications

Thu, 10 May 2012 20:35:00 GMT

Melissa E. Schoeb has been named vice president, corporate communications of Occidental Petroleum Corp.

Comstock Resources makes management changes

Thu, 10 May 2012 19:27:00 GMT

Frisco, Texas-based Comstock Resources, Inc. announced May 9 the promotion of Mark A. Williams to COO. Williams, who has been with Comstock since 1996 and until his promotion served as vice president of operations, will oversee the company's exploration, production and drilling operations.

Copano to expand processing capacity to meet Eagle Ford demand

Thu, 10 May 2012 16:42:00 GMT

In response to producer demand in the Eagle Ford shale play, Copano Energy, LLC announced today it will add 400,000 Mcf per day of cryogenic processing capacity at its Houston Central complex in Colorado County, Texas.

Ex-Im to finance $2.95B in US exports for Australia LNG project

Thu, 10 May 2012 15:52:00 GMT

The Export-Import Bank of the United States has authorized a $2.95 billion direct loan to support US exports to the Australia Pacific liquefied natural gas (LNG) project. The transaction is Ex-Im’s second-largest single-project financing in history and is also the Bank’s first LNG project in Australia.

Environmental Drilling Solutions receives investment backing

Wed, 09 May 2012 21:01:00 GMT

Environmental Drilling Solutions, LLC, a provider of solids control, cuttings processing and zero discharge services, has received a growth equity investment from Element Partners and CSL Capital Management.

Dockwise Ltd. wins OTC technology award

Wed, 09 May 2012 20:35:00 GMT

Dockwise Ltd., a marine contractor headquartered in Breda, the Netherlands, received the 2012 Offshore Technology Conference’s (OTC) Spotlight on New Technology Award for its Dockwise Vanguard, a semi-submersible heavy-lift vessel. Robb Erickson, Dockwise Ltd.’s vice president of sales, Heavy Marine Transport, detailed the vessel’s benefits for offshore dry-docking May 2 at OTC in Houston, Texas.

TMK IPSCO welcomes Dave Mitch as COO

Wed, 09 May 2012 20:18:00 GMT

TMK IPSCO, the North American division of global pipe manufacturer TMK, has appointed Dave Mitch to the position of senior vice president and chief operating officer, based at the company’s headquarters in Downers Grove, Ill. In this newly-created role, Mitch will be responsible for all manufacturing, supply chain and quality functions within TMK IPSCO.

Peregrine Midstream subsidiary fast tracks gas storage facility in Western Rockies

Wed, 09 May 2012 19:55:00 GMT

Ryckman Creek Resources, LLC, a wholly-owned subsidiary of Peregrine Midstream Partners LLC, has started gas injections at its new high-deliverability, multi-cycle (HDMC) Ryckman Creek Gas Storage Facility in southwestern Wyoming near the Opal Hub. Construction of the 35 Bcf facility started in late September 2011. First gas injections from Northwest Pipeline commenced on May 1, 2012, followed by gas injections from Overthrust Pipeline several days later.

Malaysian companies generate $7.2B in sales at OTC

Wed, 09 May 2012 18:47:00 GMT

The Malaysia External Trade Development Corp. and the Malaysia Petroleum Resources Corp. made their presence known last week in Houston at OTC 2012. From Booth 11909, dubbed the “Malaysia Pavilion,” representatives of Malaysian oil and gas companies, related agencies and associations reported $7.2 billion in total generated sales during the conference.

NDB Energy names Rhonda Rosen CFO

Wed, 09 May 2012 17:22:00 GMT

Rhonda B. Rosen has been named chief financial officer of NDB Energy, Inc., an independent oil and gas company based in Houston, Texas. Rosen brings more than 25 years of experience in financial operations, reporting and controls, investment banking and asset management to NDB.

Dale Petroskey appointed public affairs VP at Occidental Petroleum

Wed, 09 May 2012 16:48:00 GMT

Dale Petroskey has been appointed vice president of public affairs for Los Angeles-based Occidental Petroleum Corp.

Credo Petroleum discovers 6 oilfields in Kansas, Nebraska

Wed, 09 May 2012 16:13:00 GMT

Credo Petroleum Corp., an independent oil and gas exploration and production company with assets in North Dakota, Kansas, Nebraska, Texas and Oklahoma, has updated its Kansas and Nebraska drilling project with the discovery of six new oilfields.

AMPHORA adds gas, power software to product portfolio

Tue, 08 May 2012 17:04:00 GMT

Amphora, Inc., Energy Risk’s ETRM software house of the year in 2011, today announced the addition of the Affinity Gas and Power ETRM suite to its portfolio of products.

Brad Ross named transaction services partner at Hein & Associates

Tue, 08 May 2012 16:43:00 GMT

Brad Ross has been named transaction services leader at Hein & Associates LLP. In that role, he will consult with corporate and private equity clients on transactions ranging from $1M to several billion dollars.

Sledge hammers message about Texas oil and gas future

Tue, 08 May 2012 16:20:00 GMT

Oil and gas executives, attorneys, international businessmen and public policy experts recently gathered at the Houston office of Graves & Co. to hear Texas Railroad Commission candidate Roland Sledge speak about the oil and gas opportunities in Texas.

Total awarded exploration license for Uruguay offshore

Mon, 07 May 2012 21:20:00 GMT

Total announced May 3, 2012, it has been awarded an exploration license for Uruguay's offshore Block 14, following the second bidding round held by the national company, ANCAP. The license remains subject to further approval by Uruguayan authorities.

Dynasty Financial adds Syntal Capital to network of advisors

Mon, 07 May 2012 21:06:00 GMT

New York City-based Dynasty Financial Partners today announced that Syntal Capital Partners, LLC becomes the most recent independent investment advisory firm to select Dynasty Financial Partners’ open-architecture platform of wealth management services and technology. Syntal Capital Partners is the 12th independent advisory firm to join Dynasty's wealth management platform.

Occidental Petroleum names Christopher G. Stavros VP, treasurer

Mon, 07 May 2012 19:46:00 GMT

Los Angeles-based Occidental Petroleum Corp.announced today that Christopher G. Stavros has been named vice president and treasurer.

Greene's Energy acquires Associated Rental Tools

Mon, 07 May 2012 17:35:00 GMT

On May 7, Greene’s Energy Group (GEG), a provider of integrated testing, rentals, and specialty services, said it had acquired the shares of Singapore-based Associated Rental Tools Company Pte, Ltd. (Artco).

TozziniFreire adds partner to grow deals between China, Brazil

Mon, 07 May 2012 15:21:00 GMT

Brazil-based TozziniFreire Advogados has added Reinaldo Ma to the firm as partner with its China Practice Group. Ma has more than 10 years of experience in corporate mergers and acquisitions, and has worked specific deals between Brazil and China.

Upstream News

Tue, 01 May 2012 05:00:00 GMT

Ample reward available for early movers, fast followers

Tue, 01 May 2012 05:00:00 GMT

The early innovators of the social networking world who revolutionized the way we interact have made fortunes.

Energy Players

Tue, 01 May 2012 05:00:00 GMT

Another bone-headed decision by the Argentine government

Tue, 01 May 2012 05:00:00 GMT

On April 23, Standard & Poor's Ratings Services revised its outlook on the Republic of Argentina from "stable" to "negative."

The hedger's menu

Tue, 01 May 2012 05:00:00 GMT

Larry Hickey offers a primer on the wide range of hedging choices available to producers.

Revenue rises 23% from 3Q10, income up 41% over same period

Tue, 01 May 2012 05:00:00 GMT

Revenues in the fourth quarter of 2011 fell 6% from the previous quarter but increased by 12% over the same quarter in 2010 for the group of publicly-traded, US-based companies tracked by Oil & Gas Journal and Oil & Gas Financial Journal.

M&A deals decline globally except in US and Canada

Tue, 01 May 2012 05:00:00 GMT

Unconventional resource assets drove deal-making activity in the first quarter of 2012 with North America accounting for 78% of all transactions. For all of 2011, 48% of all upstream M&A spending was in the US and Canada.

Scotiabank acquires Howard Weil Talent pool, resources aligned

Tue, 01 May 2012 05:00:00 GMT

Toronto-based Scotiabank said April 18 that it has closed the acquisition by Scotia Capital Inc. of Howard Weil Incorporated, a privately held, US energy investment boutique with major offices in New Orleans and Houston. Terms of the transaction were not disclosed.

Industry Briefs

Tue, 01 May 2012 05:00:00 GMT

M&A activity contracts in Q1 as natural gas deals dry up

Tue, 01 May 2012 05:00:00 GMT

The value of deals announced in the global oil and gas industry reached $33 billion during the first quarter of 2012, according to Eoin Coyne of London-based Evaluate Energy, which tracks worldwide mergers and acquisitions.

Deal activity driven by strategic and strong buyers

Tue, 01 May 2012 05:00:00 GMT

Domestically, deal activity and valuations remain at healthy levels as buyers continue to execute on their strategic game plans and sellers adjust their portfolios toward optimal levels.