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Oil Market

Saturday, July 30, 2011

Oil Market

Panhandle Oil & Gas declares quarterly dividend
Panhandle Oil and Gas Inc. said in a news release that its board of directors approved a regular quarterly dividend of 7 cents per share. The dividend is payable September 9, 2011, to shareholders of record on August 26, 2011.

High Plains Gas terminates purchase & sale agreement with Huber Energy
High Plains Gas Inc. has terminated the purchase and sale agreement with Huber Energy to acquire its Powder River Basin natural gas assets, according to a news release. Term of the agreement, including all amendments, required the completion of purchase of the specified assets on or before July 29, 2011. “We worked diligently to finalize [...]

Precision Drilling closes US$400 million senior notes offering
Precision Drilling Corp. said in a news release that it closed its offering of US$400 million of 6.50% senior unsecured notes due 2021 in a private placement. The company intends to use the net proceeds from the notes offering to fund its capital expenditure program, including its 2011 new build program, and for general corporate [...]



Friday, July 29, 2011

Oil Market

Crude prices drop on US gdp data
Crude oil prices were lower in afternoon trade on Friday on disappointing gross domestic product data from the US Commerce Department and on the postponement Thursday night of a vote in the House of Representatives regarding raising the debt ceiling in the United States. September contracts for West Texas Intermediate crude were down $1.66 to [...]



Thursday, July 28, 2011

Oil Market

Crude ends slightly higher in New York trade
Crude oil prices were mixed Thursday on mixed news and data. September contracts for West Texas Intermediate crude ended the session up 4 cents to $97.13 per barrel on the New York Mercantile Exchange after being down earlier, while at last report Brent crude was down 13 cents to $117.30 per barrel on the ICE [...]

Shell inks £300 million agreement to redevelop Shell Centre in London
Shell International Limited has signed an agreement with Canary Wharf Group & Qatari Diar Real Estate Investment Co. to redevelop the Shell Centre site on the South Bank in London for a cash consideration of £300 million, according to a news release. Shell will retain the freehold of the site with Canary Wharf Group & [...]

Baker Hughes declares common stock dividend
Baker Hughes Inc. said in a news release that its board declared a regular quarterly cash dividend of 15 cents per share of common stock. The dividend is payable August 19, 2011, to holders of record on August 8, 2011.

Pepco Holdings names VP of investor relations
Pepco Holdings Inc. said in a news release that it named Donna Kinzel vice president, investor relations. In her role, Kinzel serves as the liaison to the investment community and directs PHI’s interactions with analysts and investors through earnings reports, analyst meetings, conferences and other channels, the company said. Kinzel joined Delmarva Power, a PHI [...]

FirstEnergy sells Fremont Energy Center to AMP for over $500 million
FirstEnergy Corp. subsidiary FirstEnergy Generation Corp. has completed the sale of the Fremont Energy Center to American Municipal Power Inc. for more than $500 million, the company said in a news release. FirstEnergy said the sale is consistent with its efforts to divest non-strategic assets and use the proceeds to provide the company with additional [...]

El Paso places 680-mile Ruby Pipeline in service
El Paso Corp. has placed its 680-mile Ruby Pipeline in service, according to a news release. The Ruby Pipeline, which is a 42-inch interstate natural gas pipeline, provides transportation service from Opal, Wyoming, to interconnections near Malin, Oregon. Ruby Pipeline is the first interstate natural gas pipeline to achieve carbon neutrality in its construction and [...]






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