Baker Hughes Inc. (BHI) is selling a package of assets used in Gulf of Mexico offshore operations to a subsidiary of Superior Energy Services Inc. for $55 million. Once the transaction is completed, which is expected by the end of this month, BHI said it would be able to complete its merger with BJ Services’ U.S. operations (see Daily GPI, April 29). “While market conditions in the deepwater Gulf of Mexico are extremely uncertain now, the acquisition provides us with an established platform from which we plan to expand these new product and service offerings across Superior’s growing international footprint,” said CEO David Dunlap. The assets to be acquired include two stimulation vessels (the HR Hughes and Blue Ray) and BJ’s sand control completion tools product line, including a tool and screen manufacturing facility and technology center in Houston.
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Ford to Offer More Compressed Natural Gas Models
Ford will introduce a compressed natural gas (CNG) and liquefied petroleum gas (LPG) engine prep package for its F-450 and F-550 Super Duty pickup trucks later this year, the automaker told approximately 500 North American fleet customers Monday.
Heavy-Duty Gas-Powered Trucks Slated for SoCal, Northwest
With some federal stimulus package funds sprinkled in for good measure, two national heavy-duty truck fleet operators, a local government association and a leading natural gas transportation fueling infrastructure company have announced plans to add 426 new compressed natural gas (CNG) and liquefied natural gas (LNG) heavy-duty vehicles in Southern California and the Pacific Northwest in two separate agreements.
Heavy-Duty Gas-Powered Trucks Slated for SoCal, Northwest
With some federal stimulus package funds sprinkled in for good measure, two national heavy-duty truck fleet operators, a local government association and a leading natural gas transportation fueling infrastructure company have announced plans to add 426 new compressed natural gas (CNG) and liquefied natural gas (LNG) heavy-duty vehicles in Southern California and the Pacific Northwest in two separate agreements.
Quantum Resources Picks Up Denbury Gas Assets
Houston-based Quantum Resources Management LLC (QRM), a privately held explorer based in Houston, agreed to pay Denbury Resources Inc. $900 million to acquire a package of natural gas-weighted assets in the Permian Basin of West Texas and southeastern new Mexico; the Anadarko Basin of Oklahoma, Texas and Kansas; and in East Texas.
Quantum Resources Picks Up Denbury Gas Assets
Houston-based Quantum Resources Management LLC (QRM), a privately held explorer based in Houston, agreed to pay Denbury Resources Inc. $900 million to acquire a package of natural gas-weighted assets in the Permian Basin of West Texas and southeastern new Mexico; the Anadarko Basin of Oklahoma, Texas and Kansas; and in East Texas.
Industry Brief
The Nevada Public Utilities Commission (PUC) has been awarded $816,274 of funding under the federal stimulus package to be applied to employee hiring and training. The American Recovery and Reinvestment Act funding is designated to help the state regulatory commission handle its increased workload caused by various renewable energy, efficiency, smart grid technology, transmission and demand response issues surfacing to address global climate change. Funds will be used to train existing personnel and hire two new staff positions assigned exclusively to the alternative energy sector, said PUC Executive Director Crystal Jackson. “We have seen a substantial increase in activity in these areas, and we expect even more in the coming years,” Jackson said. The state regulatory panel is facing a number of major renewable energy, efficiency and transmission cases in the next two years, and the new positions and training funds will be applied to its 2011-2013 fiscal year budgets.
Boren: House Caucus Seeks Gas Component to Jobs Bill
Passing the jobs package with a major natural gas component by the end of the year would be a “home run” for the entire Congress, said Rep. Dan Boren (D-OK), co-chair of the House Natural Gas Caucus, last Thursday.
Boren: House Caucus Seeks Gas Component to Jobs Bill
Passing the jobs package with a major natural gas component by the end of the year would be a “home run” for the entire Congress, said Rep. Dan Boren (D-OK), co-chair of the House Natural Gas Caucus.
California First in Line for Federal Energy Funds
Eyeing up to $1 billion in federal stimulus package funding, California claimed Tuesday to be the first state to submit its application for American Recovery and Reinvestment Act (ARRA) State Energy Program (SEP) funding. The California Energy Commission (CEC) successfully completed the state’s SEP filing, which promises massive energy savings and more than 2,000 new jobs, according to Gov. Arnold Schwarzenegger.
