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Oil And Gas Properties News

29 Nov 2018

IOG Delays North Sea Project Financing

UK based oil and gas development & production company Independent Oil and Gas Plc (IOG)cautioned that current oil price volatility and capital market conditions aren’t conducive to deliver its financing plan for the core Southern North Sea project before year-end.The company which explores for and develops oil and gas properties in the North Sea said in a press release that it was ready to enter the execution phase of its core development project in the UK Southern North Sea, but due to volatile market conditions the financing for the project has been delayed."The development expenditure for Phase 1 of the core project is expected to be funded through a senior secured bond issuance and the issue of new equity in the firm…

17 Dec 2015

Port of New Orleans Elects New Board Chairman

William T. Bergeron (Photo: Port of New Orleans)

Port of New Orleans' Board of Commissioners Elects William T. Bergeron Chairman; Michael W. Kearney Elected Vice Chair, Robert Barkerding Jr. The Board of Commissioners of the Port of New Orleans today elected William T. Bergeron chairman. Bergeron represents St. Bernard Parish and joined the Board in November of 2012 when he was appointed by Gov. Bobby Jindal. He succeeds Scott H. Cooper, whose term as chairman expired this month. Cooper will continue to serve as a commissioner. In addition, Michael W. Kearney was elected vice chairman and Robert R. Barkerding, Jr. as its secretary-treasurer.

18 Mar 2015

Dept. of the Interior Raises $539M in Gulf Lease Sale

   Sally Jewell, Secretary of the Interior (Dept. of the Interior photo by Tami Heilemann)

The U.S. Department of the Interior sold leases on oil and gas properties in the Gulf of Mexico today, receiving $538.7 million in high bids. The U.S. Department of the Interior's Bureau of Ocean Management (BOEM) took bids for 169 tracts on the U.S. Outer Continental Shelf off Louisiana, Mississippi and Alabama, the Bureau announced in a press release. 42 offshore energy companies submitted a total of 195 bids totaling $583 million, meaning most of the tracts had just one bidder.

11 Sep 2014

PMI Energy Services Opens Shorebase in Louisiana

Photo: PMI Energy Services

PMI Energy Services, a Superior Energy Services company, has opened a shorebase in Morgan City, Louisiana, focused on supporting shelf, coastal and inland waters production and drilling activities. PMI’s shorebase is centrally located on the Louisiana coast and provides better protection from weather events than ports located directly on the Louisiana coastline. It maintains a close proximity to established fuel docks, mud docks, 29-B waste transfer stations, rental and supply companies…

06 May 2010

Transocean Reports Q1 2010 Results

Transocean Ltd. (NYSE: RIG) (SIX: RIGN) reported net income attributable to controlling interest of $677 million, or $2.09 per diluted share, on revenues of $2.602 billion for the three months ended March 31, 2010. The results compare to net income attributable to controlling interest of $942 million, or $2.93 per diluted share, on revenues of $3.118 billion for the three months ended March 31, 2009. First quarter 2009 results were adversely impacted by certain net charges, after tax, totaling $264 million, or $0.82 per diluted share, consisting of $221 million of impairments on rigs held for sale and $43 million of discrete tax items, merger-related costs and losses on the retirement of debt.

20 Feb 2009

Transocean Reports 4Q & 2008 Results

Transocean Ltd. (NYSE:RIG) reported net income for the three months ended December 31, 2008 of $800m, or $2.50 per diluted share. Revenues for the fourth quarter 2008 totaled a record $3.3b. The results compare to net income of $1.05b, or $4.17 per diluted share, for the three months ended December 31, 2007. For the three months ended December 31, 2007, revenues were $2.1b. •    $17m of write-offs for uncollectible accounts receivable associated with the Sedco 712 rig contract after the operator announced it had been placed into administration (a form of bankruptcy protection under U.K. •    Partially offset by $21m of income related to the sales contract termination fee on the Transocean Nordic and income from the TODCO tax sharing agreement.

20 Aug 2003

Husky Energy Agrees To Acquire Marathon Canada

Husky Energy, through a wholly owned subsidiary, has agreed to acquire all of the issued and outstanding shares of Marathon Canada Limited and the Western Canadian assets of Marathon International Petroleum Canada, Ltd. The total purchase price is $588 million (U.S.). Production from Marathon Canada is approximately 27,000 gross barrels of oil equivalent per day (boe/d). The effective date of the transaction is October 1, 2003. In a separate transaction, Husky has agreed to sell certain of the Marathon Canada oil and gas properties with gross production of approximately 7,500 boe/d to a third party for a sale price of $320 million (U.S.). The assets to be retained by Husky are properties located primarily in northern and southern Alberta and northeastern British Columbia.

30 Oct 2000

Baker Hughes Profits Surge 456%

Driven by decade-high oil prices, industry leader Baker Hughes Incorporated reported operating profit after tax from continuing operations for the third quarter of 2000, excluding non-operational items, was $70.6 million, up 456% compared with $12.7 million for the third quarter of 1999, and up 72% compared with $41 million for the second quarter of 2000. Net income for the third quarter of 2000 was $66.7 million compared to $13.2 million for the third quarter of 1999. Results for the third quarter of 2000 include the impact of losses, net of tax, totaling $3.9 million related to the company's holdings of Varco International, Inc. stock and the sale of the Norward product line of Baker Atlas. Michael E.

17 Aug 1999

Newfield Signs Purchase and Sale Agreement to Acquire GOM Assets

Newfield Exploration Company announced it has signed a purchase and sale agreement to acquire the interests of Ocean Energy, Inc. in three shelf Gulf of Mexico fields. The purchase price is approximately $66 million and the transaction was expected to close by mid-August. Newfield explores, develops and acquires oil and gas properties principally in the Gulf of Mexico.

13 Oct 2005

ATP Wins GOM Lease

Lease Sale held in New Orleans this past August. which were awarded at a total cost of approximately $0.6 million dollars. gas pay. water. planned drill site for ATP's High Island Block A-392 development. Stated Senior Vice President Gerald W.