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Dow Electrical & Telecommunications Announces Price Increase

Effective April 1st, 2012, Dow Electrical & Telecommunications (Dow E&T) will increase the prices of its products.

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Pan Orient Energy Corp. Announces L53-DST3 (L53-D East Field) on Production at 1,200 Bopd

Pan Orient (TSX VENTURE:POE) is pleased to announce that the L53-DST3 appraisal well is currently on a 90 day production test flowing 38 API degree oil at a rate of 1,200 barrels per day through 8.8 meters of perforations between 1,142.7 meters to 1,163.2 meters true vertical depth (“TVD”), within an interpreted gross hydrocarbon bearing interval extending from 1,119 meters to 1,187 meters TVD with approximately 20 meters TVT of net oil pay. It is important to note that the entire hydrocarbon interval from 1,142.7 meters to 1,163.2 meters in L53-DST3 was not encountered in the original L53-D2 discovery well as it was not drilled deep enough. The interval currently on test is the best reservoir quality sand that has been observed in Concession L53 at these depths with porosities over the perforated intervals estimated at between 27% – 30%, suggesting that deeper potential remains and will be evaluated during the upcoming development program. Read more…

Target Logistics workforce housing solution now open in Eagle Ford Shale

CARRIZO SPRINGS, Texas, Feb. 27, 2012 /PRNewswire/ – Target Logistics, the largest turnkey workforce housing provider in the United States, opened the doors of a new lodge in the Carrizo Springs/Dimmit County area on Saturday, February 25. The lodge, designed to accommodate the growing workforce in the Eagle Ford Shale, will provide state of the art accommodations for 300 people. Read more…

Energy XXI Provides Update on Operated Properties and Reaffirms Annual Production Estimates

HOUSTON, Feb. 27, 2012 (GLOBE NEWSWIRE) — Energy XXI (Nasdaq:EXXI) (LSE:EXXI) today provided an operational update detailing successful results at its core producing fields. Read more…

Capstone Receives Order for First C1000 from Oil & Gas Producer Operating in Southern California

CHATSWORTH, Calif., Feb. 27, 2012 (GLOBE NEWSWIRE) — Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world’s leading clean technology manufacturer of microturbine energy systems, today announced it received an order for the first C1000 Power Package from an oil & gas producer in Southern California. Read more…

ESD launches ‘Made in Michigan Pipeline’

SOUTHFIELD, Mich., Feb. 27, 2012 /PRNewswire/ – With 250 professionals and key Michigan leaders in attendance, The Engineering Society of Detroit (ESD) and its Institute unveiled on February 23, 2012 a five-step plan to curb Michigan’s workforce shortage, provide youth with STEM (Science, Technology, Engineering and Math) opportunities, and bring manufacturing back to the State. Read more…

ATP Announces Production Success at Fourth Well at Telemark Hub

ATP Oil & Gas Corporation (NASDAQ:ATPG) today announced first oil production at its Mississippi Canyon (“MC”) Block 942 A-3 (#2) well, the fourth well at its Telemark Hub. The oil production rates are gradually being increased as the well goes through the initial stages of production. The early production rate performance has met expectations and the rate of oil production is being increased. Further information will be reported as it becomes available. The MC 942 A-3 well is located on the Morgus Field and is the fourth well brought on production at the Telemark Hub location utilizing the ATP Titan floating drilling and production platform. Read more…

PPL reaches agreement to acquire natural gas fired power plant in Pennsylvania

ALLENTOWN, Pa., Feb. 27, 2012 /PRNewswire/ – PPL Corporation (NYSE: PPL) announced Monday (2/27) that on Thursday, Feb. 23, 2012, PPL Generation, LLC, its competitive generation subsidiary, agreed to acquire AES Ironwood, L.L.C. and AES Prescott, L.L.C., which together own and operate the 705-megawatt AES Ironwood combined-cycle natural gas-fired power plant in Lebanon, Pa., from a subsidiary of The AES Corporation. Read more…

Yangarra Provides Production Update and Outlines Play Development

CALGARY, Feb. 27, 2012 /CNW/ – Yangarra Resources Ltd. (“Yangarra” or the “Company”) (TSX-V:YGR) is pleased to provide a production update and an outline of play development. Read more…

Petrominerales and Veraz Announce Operational Update on Block 126 in Peru

Petrominerales Ltd. (“Petrominerales”) (TSX:PMG)(BVC:PMGC) and Veraz Petroleum Ltd. (“Veraz”) (TSX VENTURE:VRZ), joint venture partners on Block 126 in Peru, are pleased to provide an operational update on their drilling activity on Block 126. Read more…

MEO Australia announces completes acquisition of Floyd 3D seismic survey in WA-454-P

MEO Australia Limited  (ASX:  MEO; OTC:  MEOAY) advises that  the  S/R Veritas Viking II completed acquisition of the Floyd 3D seismic survey in WA-454-P in the Joseph Bonaparte Gulf region of the Timor Sea (Petrel sub-basin) at 16:31 (WST) on 27th February 2012. A total of 601 km2 of full fold data was recorded. The survey will now be processed and is expected to be available for interpretation in late 2Q-2012. Read more…

Fugro Awarded Contract By Reliance Industries Ltd.

Fugro Singapore has been awarded a major offshore geotechnical investigation contract by Reliance Industries Ltd on the East Coast of India. Fugro will perform geotechnical investigations, laboratory testing and foundation design studies to allow detailed design of subsea infrastructure for the Dhirubhai Satellite Fields located in water depths of up to 1,850 meter. Fugro will be deploying one of their deepwater geotechnical vessels. The value of the contract is approximately USD 8 million. Read more…

Dril-Quip, Inc. Announces Results for Fourth Quarter and Year End 2011

Dril-Quip, Inc. (NYSE: DRQ) today announced net income of $28.1 million, or $0.70 per diluted share for the three months ended December 31, 2011, versus net income of $20.9 million, or $0.52 per diluted share for the fourth quarter of 2010.  Total revenues were $171.6 million during the quarter ended December 31, 2011 compared to $141.6 million for the same period in 2010, an increase of $30.0 million or approximately 21%. The increase in revenues resulted primarily from increased sales of $20.6 million in subsea equipment and $8.8 million in service revenues. The fourth quarter 2011 results include a pre-tax charge of $4.7 million related to severance payments payable to J. Mike Walker, the Company’s former Chairman of the Board and Chief Executive Officer, in connection with his retirement.  The fourth quarter 2010 results include a pre-tax charge of $6.9 million resulting from the termination of Larry E. Reimert’s employment as a Co-Chief Executive Officer of the Company. In addition, the fourth quarter 2010 results include a pre-tax charge of $1.9 million related to the settlement of assessments regarding state taxes on the importation of goods into the State of Rio de Janiero, Brazil. Read more…

Repsol Makes A Significant Oil Discovery In The Campos Basin

Repsol Sinopec Brasil has made a new oil discovery in the Campos Basin offshore Brazil. The well, called Pão de Açúcar, found two accumulations of hydrocarbons with a total thickness of 500 metres (1,640 feet), one of the thickest found until now in Brazil. Read more…

Wintershall increases oil production in Aitingen

Wintershall is continuing to invest in domestic oil production: between November 2011 and January 2012 the company sunk the new wells “Aitingen Süd 2”, “Schwabmünchen 7” and “Aitingen Nord-Ost 1” in the Alpine foothills south of Augsburg. All three wells struck oil. The crude oil from “Aitingen Süd 2” and “Schwabmünchen 7” will flow via steel pipeline to the operations in Aitingen from May 2012, where it will be treated and then transported to the refinery in Lingen. The exploration well “Aitingen Nord-Ost 1” will first undergo a test in April to provide information on the possible production volumes. The wholly owned BASF subsidiary Wintershall has invested around 7.5 million euros in the wells. “The new wells aim to increase the previous annual production volumes and secure production for the next 20 years,” Rainer Ihl, Manager of Wintershall’s production site in Aitingen, explained. The company has been operating the production region south of Augsburg since 1979. In 2011 around 30,000 tons of crude oil were produced in Aitingen and Schwabmünchen. The new discoveries bring the total number of production wells by Wintershall in the Alpine foothills to ten. Read more…

Encana Opens First Liquefied Natural Gas Fueling Station in Louisiana

FRIERSON, La., Feb. 24, 2012 /PRNewswire/ — Encana Natural Gas Inc. (“Encana”), a subsidiary of Encana Corporation (TSX, NYSE: ECA), one of North America’s largest natural gas producers, today opened the first liquefied natural gas (LNG) fueling station in Louisiana. Located at The Relay Station inFrierson, the station which will serve the fueling needs of heavy duty truck fleets is open for public use (to those with a LNG vehicle and proper safety training) and will be accepting all major credit cards. The station is currently being utilized by Heckmann Water Resources (HWR), an Encana partner in water sustainability in the natural gas industry. Read more…

Cheniere Energy Reports Fourth Quarter and YE 2011 Results

HOUSTON, Feb. 24, 2012 /PRNewswire/ — For the quarter and year ended December 31, 2011, Cheniere Energy, Inc. (“Cheniere”) (NYSE Amex: LNG) reported a net loss of $57.8 million, or $0.66 per share (basic and diluted), and $198.8 million, or $2.60 per share (basic and diluted), respectively, compared with a net loss of $86.1 million, or $1.51 per share (basic and diluted), and $76.2 million, or $1.37 per share (basic and diluted), respectively, for the same periods in 2010.  Excluding a loss on early extinguishment of debt of $49.3 million in the quarter ended December 31, 2010, the net loss for the quarter would have been $36.8 million, or $0.64 per share (basic and diluted).  Excluding a gain on the sale of equity method investment of $128.3 million and a loss on the early extinguishment of debt of $50.3 million, the net loss for the year ended December 31, 2010, would have been $154.2 million, or $2.77 per share (basic and diluted).  Excluding the significant items for the quarter and year ended December 31, 2010, the increased net loss for the quarter and year ended December 31, 2011, is primarily due to increased development expenses and general and administrative expenses associated with the project being developed by one of our indirectly owned subsidiaries, Sabine Pass Liquefaction, LLC (“Sabine Liquefaction”), to add liquefaction capabilities at the Sabine Pass LNG terminal in Louisiana (the “Liquefaction Project”). Read more…

ExxonMobil Announces First Production from Usan Field Offshore Nigeria

Exxon Mobil Corporation (NYSE:XOM) announced today the startup of production from the Usan field, offshore Nigeria. ExxonMobil subsidiary Esso E&P Nigeria (Offshore East) Limited has a 30 percent interest in the deepwater project. Read more…

Seadrill orders two new ultra-deepwater drillships for delivery in 2014

Seadrill has in the last year seen a surge in long-term demand for tender rigs and modern ultra-deepwater drilling rigs. The increased demand for ultra-deepwater rigs has been driven by high oil prices and significant exploration successes in both new as well as established deepwater regions leading to a ramp-up in drilling programs. The growth in rig demand has been particularly strong in the US, East and West Africa regions. In addition to oil price and exploration successes,  the industry’s focus on safety following the Macondo accident, has supported demand for higher specification rigs as well as leading to increased drilling time per well. Read more…

Transocean Ltd. Reports Fourth Quarter and Full Year 2011 Results

Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today reported a net loss attributable to controlling interest of $6.119 billion, or $18.62 per diluted share, for the three months ended December 31, 2011. The results compare to a net loss attributable to controlling interest of $799 million, or $2.51 per diluted share, for the three months ended December 31, 2010. Read more…

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