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World Fuel Services to Acquire PAPCO and Associated Petroleum Products for $230 Million
June 27, 2016
World Fuel Services Corporation’s wholly-owned subsidiary has signed definitive agreements to acquire two U.S. land fuel distributors: PAPCO, Inc. and Associated Petroleum Products, Inc. (APP). The aggregate purchase price for both companies will be approximately $230 million and will be
Potash Ridge Enters MOU with SNC-Lavalin for Development of Blawn Mountain Project, Utah
June 27, 2016
Potash Ridge Corporation has entered into a memorandum of understanding (MOU) with SNC-Lavalin Inc. which establishes a long-term relationship between the corporation and SNC for the development of the Blawn Mountain Project in Utah. Under the terms of the MOU,
Suncor Energy Acquires Additional Interest in Canada-based Syncrude for C$937 Million
June 27, 2016
Suncor has closed the purchase of a five percent interest in Syncrude from Murphy Oil Corporation’s Canadian subsidiary. “The closing of this transaction further reinforces Suncor’s commitment to profitable growth and creating value for shareholders through strategic acquisitions. Despite speculative
Lone Pine Resources Canada and Arsenal Energy Enter Strategic Business Combination
June 27, 2016
Lone Pine Resources Canada Ltd. and Arsenal Energy Inc. have entered into a definitive agreement to affect a business combination by way of a plan of arrangement under the Business Corporations Act (Alberta). Completion of the arrangement will result in
New Mexico Public Regulation Commission Approves Emera’s Acquisition of TECO Energy
June 23, 2016
The New Mexico Public Regulation Commission (NMPRC) has approved a final order authorizing, among other things, Emera Inc.’s proposed acquisition of TECO Energy and the indirect acquisition of New Mexico Gas Company, Inc. (NMGC). “We are pleased that the New
Monterra Energy Advances Its Monterra del Centro Pipeline Project, Mexico
June 23, 2016
Monterra Energy has provided an update on its plans to build a new refined products pipeline system, consisting of four independent assets: (i) a port facility to receive product, (ii) a 1,200,000 barrel marine receiving terminal at Tuxpan, Veracruz, (iii)
BLM Reviewing Utah Utility Corridor for What Could Be Nation’s First Commercial Oil Shale Mine
June 22, 2016
A proposed oil-shale mine and processing plant would generate up to 23 million tons of spent shale, yet Enefit American Oil has not revealed how it intends to safely manage this waste, which would be in a chemically unstable state,
ABS Group to Develop Maintenance and Integrity Program for Kinder Morgan’s Elba Island LNG Project
June 22, 2016
ABSG Consulting Inc., a subsidiary of ABS Group of Companies, Inc. (ABS Group), has been contracted by Kinder Morgan, Inc. to develop a Maintenance and Integrity Program for the liquefied natural gas (LNG) regasification terminal at Elba Island (Elba LNG
Steam Operations Begin at Husky Energy’s Edam West Oil Thermal Project, Canada
June 22, 2016
Husky Energy has started steam operations at the 4,500 barrels per day (bbls/day) Edam West heavy oil thermal project in Saskatchewan, Canada. It follows commencement of steam operation at the firm’s Edam East thermal project in April which currently has
Devon Energy to Divest Upstream Assets in Midland Basin, Texas for $858 Million
June 22, 2016
Devon Energy has signed agreements to divest its remaining non-core assets in the Midland Basin, Texas, to Pioneer Natural Resources and an undisclosed buyer for $858m. Under the terms of the deals, the firm will sell its upstream assets in
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