Shifting priorities of energy executives worldwide are putting more impetus on a lower-carbon future, while oil and natural gas price volatility remains the No. 1 “critical” uncertainty, according to the World Energy Council.
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North America’s $15.9 billion in oil and natural gas merger and acquisition activity led the global markets during the third quarter with a 38% share, but overall U.S. activity and deal values declined year/year, according to PLS Inc. and Derrick Petroleum Services.
A global leader in natural gas engines, Vancouver, BC-based Westport Innovations Inc. last Friday said it has acquired a leading conversion company, BAF Technologies Inc., from Clean Energy Fuels Corp., the California-based natural gas vehicle (NGV) fueling company. Westport secured the deal with $25 million worth of its stock.
A global leader in natural gas engines, Vancouver, BC-based Westport Innovations Inc. on Friday said it has acquired a leading conversion company, BAF Technologies Inc., from Clean Energy Fuels Corp., the California-based natural gas vehicle (NGV) fueling company. Westport secured the deal with $25 million worth of its stock.
Nearly every major natural gas play in the United States makes money at prices above $4.00/Mcf, and more important, can generate a “decent rate of return” at prices above $4.25, according to an analysis by Raymond James & Associates Inc.
As oil production continues its steep climb in the Eagle Ford Shale, the South Texas play is on track to surpass the Bakken, the shale oil production leader, in the near term, an RBC Capital Markets analyst said Wednesday.
John H. Williams, 94, a founding leader of natural gas midstream and pipeline giant Williams, died Wednesday at his home in Linville, NC. He had worked for Williams Brothers founders Dave and Miller beginning in 1938, and 11 years later he, his brother Charlie and cousin David bought the company. John Williams served as president and CEO until 1971 and as chairman and CEO from 1971 to 1979. One of his signature achievements was the 1966 purchase of Great Lakes Pipe Line, which at the time was substantially larger than his company. In his tenure as CEO, Williams’ market value increased from $25,000 in 1949 to $406.5 million in 1978. From 1964 to 1974, the average combined return to investors ranked No. 1 among Fortune 500 companies. John Williams is survived by his wife, Joanne, and three sons. “This is a huge loss to many of us personally and certainly for our great company,” said Williams CEO Alan Armstrong. “He has been an inspiration to all who have been lucky enough to know him.”
When it goes into effect next month, Ohio’s SB 315 will bring regulatory change to the Ohio Department of Natural Resources (DNR) and four other state agencies, but that’s just the beginning of the changes the oil and gas industry can expect from the legislation, according to Craig Kasper, CEO of project development and engineering company Hull & Associates Inc.
State legislation is likely next year in Florida to help boost the use of natural gas vehicles (NGV), according to a state House representative who is a leader on energy issues. The comments by state Rep. Lake Ray (R-Jacksonville) came as a Florida NGV organization was formed and an economic impact study released.