ViaLogy Technology Delivers Large Oil Find

ViaLogy announces that its QuantumRD(TM) oil exploration technology and service has been credited with locating a major new oil deposit on the Galba Prospect in South Central Texas. The success marks the operational and commercial validation of the company’s software-based seismic interpretation service for oil and gas reservoir discovery and characterization. The technology accurately predicted... 

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Bristow Group Completes Sale of Gulf of Mexico Aircraft to Rotorcraft

Bristow Group Inc., a leading provider of helicopter services to the offshore energy industry, announced it has completed the previously announced sale of 53 single-engine aircraft and related assets operating in the U.S. Gulf of Mexico to Rotorcraft Leasing Company, L.L.C. for approximately $65 million. Bristow received approximately 20% of the purchase price at closing, with the remainder to be paid... 

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E-MetaVenture Joins Franklin Mining on GTL Project

Franklin Mining, Inc. Chairman and CEO William A. Petty is pleased to announce that E-MetaVenture, Inc. has joined Franklin in the capacity of advisor on technical and commercial matters as related to GTL, CTL, and other related gas processing technologies. “E-MetaVenture, Inc, Houston, Texas provides independent consulting, design, and training services to the refining, gas processing and allied... 

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BPZ Energy Announces Senior Debt Funding of $15 Million from IFC

BPZ Resources, Inc. announced it has received funding of the $15 million tranche of senior debt with the International Finance Corporation (IFC). The IFC $15 million facility is the first tranche of two credit facilities totaling $215 million. As previously announced, Natixis, a French bank, has received credit committee approval to lead the second tranche of the senior debt consisting of a $200 million... 

BPZ Energy Announces Senior Debt Funding of $15 Million from IFC

BPZ Resources, Inc. announced it has received funding of the $15 million tranche of senior debt with the International Finance Corporation (IFC). The IFC $15 million facility is the first tranche of two credit facilities totaling $215 million. As previously announced, Natixis, a French bank, has received credit committee approval to lead the second tranche of the senior debt consisting of a $200 million... 

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EQECAT Initial Post-Landfall Estimates Of Insured Onshore Losses From Hurricane Ike

EQECAT, Inc., the leading authority on extreme-risk modeling, Saturday morning said, based on current storm information provided by the National Oceanic and Atmospheric Administration (NOAA), initial post-landfall estimated insured onshore losses from Hurricane Ike could range from $8 billion to $18 billion, primarily in the Texas counties of Brazoria, Harris, Galveston, Chambers and Jefferson. This... 

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New LINE-X XS-252 Spray-On Lining to Receive MSHA Acceptance for Sealants Applied to Underground Ventilation Controls for the Mining Industry

LINE-X® Industrial Coatings Division (LICD) announce that its new fire retardant product, LINE-X XS-252, has met the requirements of the Mine, Safety and Health Administration (MSHA) Standard Application Procedures for Sealants Applied to Underground Ventilation Controls (ASAP 5005). “This is big news for the mining industry,” said Michael Babiarz, vice president of business development... 

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Washington and National Oil Marketers Associations Decry Energy Speculators Pushing Oil Prices Up 5.4 Percent in a Day to $121.18 a Barrel

“Today’s 5.4 percent crude oil price increase to $121.18 a barrel despite decreased demand and increased supply is a clear sign that speculators continue to dominate the commodities markets hurting our national economy,” said Lea Wilson, executive director of the Washington Oil Marketers Association (WOMA). “There is absolutely no economic reason for prices to increase the way they did today,”... 

Enterprise, TEPPCO and Oiltanking Plan Texas Offshore Crude Oil Port and Pipeline System

Enterprise Products Partners L.P. and Oiltanking Holding Americas, Inc. announced they have formed a joint venture to design, construct, own and operate a new Texas offshore crude oil port and pipeline system to facilitate delivery of waterborne crude oil to refining centers along the upper Texas Gulf Coast. The initiative will provide an efficient alternative to offshore lightering and inland dock... 

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T. Boone Pickens Statement on Meeting With U.S. Senator Barack Obama (D-IL) in Reno, Nevada

Below is a statement issued by T. Boone Pickens following his meeting this morning with U.S. Senator Barack Obama (D-IL): “I enjoyed the opportunity to meet Senator Obama and discuss an issue that is America’s top priority, which is ending our dependence on foreign oil that today is approaching 70 percent of our imports and is costing us $700 billion a year. “I assured Senator Obama that...