IRVING, Texas--(BUSINESS WIRE)--Exxon Mobil Corporation (NYSE:XOM) announced today that it will donate $100,000 to the American Red Cross to provide disaster relief assistance in response to the recent tornadoes in north Texas. “Our thoughts are with all who have been impacted by the devastating tornadoes, and especially with the families who lost loved ones during the holiday season,” said Rex W. Tillerson, chairman and chief executive officer. “We hope that this donation to the Red Cross [Read more]
Archives for January 2016
Lillian S. Harris Joins Post & Schell’s Energy & Utilities Group in Harrisburg as Principal
HARRISBURG, Pa.--(BUSINESS WIRE)--Post & Schell, P.C. is pleased to announce that Lillian Harris has joined the Firm as a Principal in its Energy & Utilities Practice Group, resident in the Firm’s Harrisburg, PA Office. Ms. Harris has over 25 years of industry, government, and private practice experience in energy and utility industry-specific legal matters, including regulatory and transactional matters, Marcellus Shale matters, as well as government affairs and legislative experience. She also [Read more]
Andrews Kurth Adds Energy Partner Charlie Ofner in Houston
HOUSTON, Jan. 4, 2016 /PRNewswire/ -- Andrews Kurth LLP is pleased to announce that energy attorney Charlie Ofner has joined the firm's Houston office as a partner. Mr. Ofner previously served as senior counsel at Houston-based Oasis Petroleum Inc., a publicly-traded E&P company, where he was integral in the legal functions of multiple company divisions, including operations, land, midstream, marketing, finance and accounting. He was also instrumental in the company's acquisitions and [Read more]
2016 energy predictions are anyone’s guess
No one has any idea what 2016 will bring, but that has not stopped 192 million people from taking a crack at predicting it, according to a quick Google search. It should be safe to say that in the energy business, we are going to see a fascinating collision between new found religions and cold hard truths. Rather than pay attention to predictions, which will sound smart or dumb depending on how close they are to your beliefs, it’s more useful to consider which viewpoints are currently the [Read more]
KBR Finalizes Sale of its Infrastructure Americas Business
HOUSTON, Jan. 4, 2016 (GLOBE NEWSWIRE) -- KBR, Inc. (NYSE:KBR) KBR announced today that on December 31, 2015 it finalized the sale of its Infrastructure Americas business to Stantec Consulting Services Inc. The sale of Infrastructure Americas, a business within the Non-Strategic Business Group, is consistent with the company's restructuring plans announced in December 2014. "We are pleased to continue the business transformation we set out to accomplish last year and selling non-strategic [Read more]
TC PipeLines Completes Acquisition of PNGTS Interest
HOUSTON, TEXAS--(Marketwired - Jan. 4, 2016) - TC PipeLines, LP (NYSE:TCP) today announced the closing of the previously announced acquisition of a 49.9 percent interest in Portland Natural Gas Transmission System (PNGTS) from TransCanada Corporation effective January 1, 2016. The acquisition is expected to be immediately accretive to distributable cash flow and earnings. TC PipeLines, LP is a Delaware master limited partnership with interests in seven federally regulated U.S. interstate [Read more]
Talisman Energy Inc. and Related Canadian Partnerships Announce Name Changes
CALGARY, ALBERTA--(Marketwired - Jan. 4, 2016) - We are pleased to announce that, effective January 1, 2016, the legal name of Talisman Energy Inc. has been changed to Repsol Oil & Gas Canada Inc. In addition, the following related Canadian partnerships have been renamed as follows: Previous legal name New legal name Talisman Alberta Shale Partnership Repsol Alberta Shale Partnership Talisman Wild River Partnership Repsol Wild River Partnership Talisman [Read more]
Energy CFOs Expect a Run on Distressed Assets in 2016
CHICAGO--(BUSINESS WIRE)--As 2016 begins, the energy industry remains uncertain of when the sector will turn around—and companies are taking steps to streamline operations until prices begin to recover. With 85 percent of U.S. oil and gas chief financial officers (CFOs) predicting low oil and gas prices to be their greatest financial challenge in 2016, many energy companies are looking to tighten their belts by selling off assets. According to BDO USA LLP's annual Energy Outlook Survey, 75 [Read more]
Breitburn Energy Partners Declares Monthly Distributions for Preferred Units
LOS ANGELES--(BUSINESS WIRE)--Breitburn Energy Partners LP (NASDAQ:BBEP) announced today distributions for its 8.25% Series A Cumulative Redeemable Perpetual Preferred Units (NASDAQ: BBEPP) and 8% Series B Perpetual Convertible Preferred Units. A cash distribution of $0.171875 per Series A Unit is payable on February 15, 2016, to record holders of its Series A Units at the close of business on January 29, 2016. This monthly distribution is equal to an annual distribution of $2.0625 per Series A [Read more]
Suncor Energy offer to acquire Canadian Oil Sands Limited set to expire on Fri. January 8, 2016
CALGARY, ALBERTA--(Marketwired - Jan. 4, 2016) - Suncor Energy today urged shareholders of Canadian Oil Sands Limited ("COS") to tender their shares to Suncor's offer before it expires at 6:00 p.m. MT (8:00 p.m. ET) on Fri. January 8, 2016 and recommended that shareholders get instructions to brokers immediately to ensure that they are processed in time as certain brokers and intermediaries will have tender deadlines on Tuesday or Wednesday of this week. As announced on October 5, 2015, [Read more]