Particle Drilling Technologies Inc. has completed the private sale of $5 million shares of its common stock to institutional and other accredited investors at $2.35 per share.
The Houston-based oilfield services firm pocketed $11.75 million from the offering and plans to use the gross proceeds to manufacture particle impact drilling systems, to hire and train personnel, [...]

Precision Drilling Trust announced that its Board of Trustees has set the distribution policy for the fourth quarter of 2006 at the same rate as in the third quarter, Cdn$0.31 per trust unit per month. These monthly payments also will be made to holders of Class B limited partnership units of Precision Drilling Limited Partnership.
The [...]

Of the major coal-producing states, Virginia has led the nation in production growth this year, according to the federal Energy Information Administration.
So far this year, coal production in the seven Southwest Virginia coal-producing counties stands at 25.87 million tons. That is a 15.4 percent increase over the 22.42 million tons mined during the same period [...]

Arch Coal Inc., the second-largest U.S. coal producer, said third-quarter profit more than doubled as cost reductions more than made up for a decline in prices. The company’s shares dropped as Arch cut its profit forecast and said it will slow production while prices are low.
Net income jumped to $50.9 million, or 35 cents a [...]