NEW YORK -- Trilantic Capital Partners, a global private equity firm, and Ward Petroleum Corporation have announced their partnership in a newly formed oil and gas exploration and production company, Ward Energy Partners (WEP). WEP will focus operations in various basins in Oklahoma and Eastern Colorado
MEXICO CITY (Bloomberg) -- Petroleos Mexicanos posted its seventh consecutive quarterly loss as production at the state- owned oil monopoly plummeted to its lowest levels in 19 years. The Mexico City-based company’s net loss of 52.2 billion pesos ($4.02 billion) widened from a 49 billion-peso loss a year ago, the producer known as Pemex said in a statement. Sales increased 4.1% to 409 billion pesos. Pemex is counting on a landmark law enacted last year that opens Mexico’s energy industry to private competition for the first time since 1938 to help stem declining output.
DECATUR, Texas -- Circulation Solutions, a products company specializing in lost circulation issues, has appointed Jerry Beeson as CEO. Based in Decatur, Texas, Beeson will oversee all corporate management functions and play a direct role in all departments. Beeson previously served as V.P. of sales where he led the company’s sales and business development initiatives.
BOULDER, Colorado (Bloomberg) -- A fracing ban in the city of Longmont, Colorado, was thrown out by a judge amid petition drives to hold a statewide vote in November on restricting oil and gas drilling that generate $30 billion a year. The debate over fracing has escalated in Colorado as drilling moves closer to suburbs, raising concerns about water and air contamination. Five communities in the state have voted to ban or put a moratorium on such activity.
WTI set for weekly drop amid rising fuel supplies, Brent steady BEN SHARPLES and GRANT SMITH NEW YORK (Bloomberg) West Texas Intermediate headed for the third weekly decline this month amid speculation that rising U.S. gasoline stockpiles signal reduced demand
Diamond’s BlackRhino takes low rate amid deep water rig glut DAVID WETHE HOUSTON, Texas (Bloomberg) A glut of deep water drilling rigs is dragging down share prices and threatening revenue for operators that are being forced to accept lower day
Breitburn to buy QR Energy for $3 bn to add oil production SIMON CASEY LOS ANGELES, California (Bloomberg) Breitburn Energy Partners LP, a U.S. energy exploration and production company, agreed to acquire QR Energy LP for about $3 billion including
HOUSTON -- Scientific Drilling International (SDI) has announced the completion of its 500th MagTraC MWD Ranging project earlier this month.
CALGARY, Alberta (Bloomberg) -- Talisman Energy Inc. said it’s been approached by Repsol SA, Spain’s largest oil company, “with regards to various transactions.”
WASHINGTON, D.C. (Bloomberg) -- The Obama administration proposed phasing out older tank cars tied to a deadly derailment a year ago and lowering speed limits as part of a set of new rules intended to reduce the risks of hauling crude oil. The proposal, which follows a series of fiery accidents, also will require improved braking systems and testing of crude oil before being loaded, according to a Transportation Department statement on July 23. The rule applies to shipments of corn-based ethanol as well as oil.
WASHINGTON, D.C. (Bloomberg) -- The Obama administration will propose train speed limits and studier rail tank cars as part of a set of new rules intended to reduce the risks of hauling crude oil, two people familiar with the plan said. The draft proposal, which follows a series of fiery accidents, will also require improved braking systems as well as testing of crude oil before being loaded, the two people said.
MADRID (Bloomberg) -- Repsol SA is exploring a bid for Talisman Energy Inc. as it looks to deploy cash it received as compensation for the loss of its stake in Argentina’s YPF SA, according to people familiar with the matter. Repsol identified Talisman as a top target and is working with JPMorgan Chase & Co. as it evaluates the deal, one of the people said, asking not to be identified discussing private matters. Repsol is considering acquisitions as it seeks growth outside its home market.
Mobile methane measurements help locate leaks from wells and pipelines, reports LGR MOUNTAIN VIEW, California Los Gatos Research (LGR), a member of the ABB Group, reported the successful application of its laser based Fast Greenhouse Gas Analyzer for mobile monitoring
Preferred Technology’s silica dust prevention proppant test wells surpass OSHA standards RADNOR, Pennsylvania Preferred Technology, an affiliate of Preferred Sands recently completed a series of successful DustPRO™ proppant pilot wells in Colorado. Designed to meet OSHA regulations regarding crystalline silica
FMC Technologies reports second quarter 2014 diluted earnings per share of $0.95 HOUSTON, Texas FMC Technologies Inc (FTI) reported second quarter 2014 revenue of $2.0 billion, up 16% from the prior year quarter. Diluted earnings per share were $0.95 compared
Paradigm offers Geolog Petrel connector in its latest Geolog release HOUSTON, Texas Paradigm reported that it has released the latest version of its industry leading Geolog® formation evaluation and petrophysics analysis solution suite. The release includes a plug in that
LQT Industries awarded five new construction projects BROUSSARD, Louisiana LQT Industries, reported that it has recently been awarded new construction projects from five clients in the oil and gas industry. The projects will be built at LQT' s construction facility in
SwRI to lead separation technology joint industry project SAN ANTONIO, Texas Southwest Research Institute (SwRI) reported the launch of a multi million dollar joint industry project to better understand oil and gas separation technology. The objective of the Separation Technology