Industry News

Statoil has acquired close to 70,000 operated net acres in the liquid rich part of the central Marcellus area. "The US unconventional plays hold a substantial resource base and represent an increasingly important part of future energy supplies,” said Statoil US onshore senior vice president, Torstein Hole.

Valero Terminaling and Distribution Co. (VTDC), a subsidiary of Valero Energy Corporation, and TGS Development LP have formed a 50-50 joint venture and started construction on a new marine terminal on the lower Sabine-Neches Waterway near Port Arthur, Texas.

Exelon has completed the sale of three Maryland coal-fired power plants to Raven Power Holdings LLC, a portfolio company of Riverstone Holdings LLC.

Linde North America has concluded a successful trial of its new liquefied natural gas (LNG) mobile refuelling unit which is designed to allow customers to test the workability of using the gas as a viable alternative to vehicle fuels such as diesel.

Great oil and gas resources in the emerging shale prospects of the Canadian province of Alberta, have been identified in a new study that suggest that recent takeovers and land buys will yield substantial production gains for some of the largest oil companies in the world.

Murphy Oil Company Ltd. has entered into an agreement with Shell Canada Energy to purchase additional interests in lands and take over as operator of Shell’s assets in the Seal Lake area of Alberta, Canada.

The Electro-Mechanical Division business unit of Curtiss-Wright Corporation’s Flow Control segment has signed a contract with NuScale Power to design control rod drive mechanisms (CRDMs) for NuScale's small modular reactor.

Cimarex Energy Co. has entered into an agreement to sell certain non-core long-lived oil and gas properties in Texas. The properties are to be sold for USD$294 million.   The sale is anticipated to close before the end of 2012.

GE Oil & Gas senior executive Supply Chair, Paul Smith announced that company would be hiring over 200 production manufacturing positions and more than 30 salaried supply-chain positions, in order to grow and increase capacity in Houston, Texas.

Progress Energy Carolinas, a subsidiary of Duke Energy, will officially retire two coal-fired power plants Oct.