Origin Energy forecasts stronger profit

Origin Energy Ltd, Australia’s second biggest electricity and gas retailer, has forecast a stronger second half after delivering a 43.5 per cent increase in interim profit. The power retailer delivered a half year profit of $334.7 million for the six months to December 31, 2007, compared to $233.1 million in the previous corresponding period. “Based on current market conditions we expect... 

Tags: Australia, Chairman, Company, Earnings, Electricity, Energy, Energy Ltd, Gas, Market

AED Oil says considering offers for some assets

Australian oil firm AED Oil Ltd AED.AX, whose shares were hit earlier this year on claims it had overdue debt, said it was considering offers from a number of unnamed parties over the sale of some of its assets. Trading in its shares will be halted for two days, during which it said it expects to be able to make an announcement. AED said in January it had received several approaches from international... 

Tags: Australia, Northwest, Northwestern, Oil, oil firms, Oil service, recoverable oil, Shares, Western Australia

Origin Energy’s H1 Propels Shares 8%

Origin Energy said on Thursday it expects a strong second half after delivering a fall in underlying profit for first half results, propelling the shares in the gas and electricity retailer as much as 8.6% higher. Shares in ORG ended a five-day losing streak, climbing 63 cents or 7.9% to finish at $8.55. The Sydney-based company posted an underlying profit of $200 million for the half year ended 31... 

Tags: Australia, Australian Stock Exchange, Chairman, Company, Earnings, Electricity, electricity costs, Energy, Exchange

German energy giant EON to sell high-voltage grid

The biggest German power company, EON, plans to sell its high-voltage network in anticipation of new European Union rules, press reports said on Thursday. Plans to split off distribution networks worth more than one billion euros (1.5 billion dollars) were “well advanced” and EON chief executive Wulf Bernotat had already informed German Chancellor Angela Merkel, the business daily Handelsblatt... 

Tags: Brussels, Coal Mining, Coalition government, Company, Electricity, Energy, energy costs, energy giant, energy group

PACO Oil & Gas Inc. Acquires Oklahoma-Based McGill Gas Lease

PACO Oil & Gas Inc. an exploration company focused on purchasing under valued oil and gas leases — has completed negotiations to acquire the McGill gas lease properties located in Okalahoma. PACO Oil & Gas reports that the property has one gas well in the Rowe Formation that is expected to produce up to 100 mcf of gas per day. The company is currently waiting on completion of highway... 

Tags: Company, Completion, Exchange, Exploration Company, Gas, main gas, Oil, Oil and Gas, oil and gas lease

Six Colorado oil and gas commissioners get preliminary confirmation

Six nominees to the Colorado Oil and Gas Conservation Commission, including a Garfield County representative, were confirmed by a Senate committee on Tuesday, despite protests from Republicans that they weren’t given enough information on their views. The six were nominated by Gov. Bill Ritter after lawmakers expanded and revamped the commission to make it more responsive to environmental, safety... 

Tags: Aurora, Colorado, Colorado Oil and Gas Conservation Commission, County Commission, Denver, Energy, energy boom, energy committee, Environment

ONGC to notify four oil, gas finds

India’s state-owned Oil and Natural Gas Corp. said it will notify four oil and gas discoveries in a month to the Directorate-General of Hydrocarbons. The decision came at an ONGC board meeting Monday, an ONGC statement said Tuesday. The board also cleared three major investments for growth-oriented projects, the statement said, adding these are the reconfiguration of the Dahej Petrochemicals... 

Tags: Chemical, chemicals, Gas, gas find, Gulf, Hydro, India, Natural Gas, Natural Gas Corp

Falcon Oil & Gas Ltd. Issues Comment on Trading Activity

Falcon Oil & Gas Ltd. announced today, at the request of Market Regulation Services, that no material change has occurred in the affairs of Falcon. About Falcon Oil & Gas Ltd. Falcon Oil & Gas Ltd. is a British Columbia corporation which is in the business of oil and gas exploration and production. It has operations in Hungary through its wholly-owned subsidiary TXM Oil and Gas Exploration,... 

Tags: America, British Columbia, Columbia, Company, Energy, Energy Corporation, Environment, Exchange, Gas

Oil, gas prices push higher in tandem

Are record gas prices on their way to Western New York? The likelihood has increased because of this week’s spike in oil prices. World markets pushed oil up to a record $100.88 a barrel on Tuesday and briefly touched $102 Wednesday, and gasoline responded by moving higher in the Buffalo area. Gas was selling for an average of $3.32 per gallon in Erie and Niagara counties on Wednesday morning,... 

Tags: America, American Automobile Association, Buffalo, Gas, gas price, gas prices, Gasoline, Labor, Labor Day

Wavefront, Alberta-Based Oil and Gas Producer to Apply Powerwave

Wavefront Energy and Environmental Services Inc., a leader in technology development and implementation for improved oil recovery and optimized groundwater remediation, announced that a Canadian conventional oil and natural gas producer, with gross revenues over $500 million, will apply Powerwave in an Alberta waterflood development. For reasons of confidentiality the client, agreement terms, and oil... 

Tags: Alberta, conventional oil, Energy, Environment, environmental services, Environmental Services Inc., Gas, gas producer, Natural Gas