Ventyx Releases 2009 U.S. Coal Industry Map

Ventyx®, the world’s largest private software, data and advisory services provider to the energy and utility industry, today announced the release of the new 2009 U.S. Coal Industry Map, providing the industry’s most comprehensive view of this vital sector of the U.S. energy industry. Utilizing data from the industry-leading Ventyx Velocity Suite energy intelligence solution, the 2009... 

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Caterpillar Moves Forward with New Large Mining Trucks

Caterpillar is moving rapidly forward with the new large mining trucks showcased at MINExpo last year and representing the company’s largest investment ever in new mining technology. The Cat® 793F and 797F mechanical drive trucks and the 795F AC electric drive truck are all achieving milestones. The 793F and the 797F have accumulated more than 75, 000 hours of field testing and have proven their... 

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Dozens of cranes sold at US$20 million Ritchie Bros. auction in Chicago

Ritchie Bros. Auctioneers, the world’s largest industrial auctioneer, sold more than US$20 million of heavy equipment and trucks – including 61 cranes – at its unreserved public auction in Chicago, Illinois last week (July 16 17, 2009). More than 2,200 people from 49 U.S. states and 27 other countries registered to bid in person or online on more than 2,700 used equipment items, including... 

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Rex Energy Corporation Completes Sale, Nets $17.3 Million

Rex Energy Corporation announced that it has closed on the sale of its Southwestern Region assets for net cash proceeds of approximately $17.3 million, subject to any final closing adjustments. The sale to Adventure Exploration Partners, LLC of Midland, Texas consisted of properties in Texas and New Mexico, predominately located in the Permian Basin. The sale of these non-core assets was part of Rex... 

Caterpillar to cut another 2,110 production jobs

Heavy equipment maker Caterpillar Inc. announced 2,110 new job cuts Friday as it scales back production amid a world economic slowdown. The world’s largest maker of mining and construction machinery said the layoffs at three Illinois plants — in Aurora, Decatur and East Peoria — and other cost-cutting measures were needed to maintain competitiveness. Like other big manufacturers,... 

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Natural Resource Partners L.P. Acquires Coal Reserves and Infrastructure From Cline Group in Illinois Basin

Natural Resource Partners L.P. announced that it had acquired coal reserves and infrastructure assets related to the Shay No. 1 mine in Illinois from Macoupin Energy, LLC, an affiliate of the Cline Group, for $143.7 million. Upon closing, NRP paid $83.7 million and will make three subsequent payments of $20 million each in 2009 based upon performance measures associated with the development of a new... 

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Patriot Coal Announces Closure of Jupiter Mine

Patriot Coal Corporation announced the closure of its Jupiter mining complex. The Company announced on September 29, 2008, its intention to idle the Jupiter thermal coal facility. In connection with the closing of the facility, the Company gave notice today, in compliance with the Worker Adjustment and Retraining Notification Act, that employees will be laid off from employment between March 12 and... 

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Phoenix Coal Inc. secures permits for Radio Hill section of Briar Hill surface mine

Phoenix Coal Inc., a leading producer and consolidator of thermal coal reserves in the Illinois Basin, announced the Company has received a permit granted by the United States Army Corps of Engineers under Section 404 of the Clean Water Act. With the 404 Permit, the Company has now secured all of the necessary permits to begin mining on the Radio Hill section of the Briar Hill surface mine (“Radio... 

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Rex Energy Corporation Executes Sales Agreement for Its Southwestern Region Assets

Rex Energy Corporation announced that its wholly-owned subsidiary, Rex Energy I, LLC, has entered into a definitive purchase and sale agreement with Adventure Exploration Partners, LLC of Midland, Texas for the sale of its Southwestern Region assets for $18 million, subject to customary adjustments. The assets consist of properties owned by the company in Texas and New Mexico, predominantly located... 

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Kentucky USA Energy, Inc. Announces Reaching Total Depth on Hunter Wells #1

Kentucky USA Energy, Inc., an early stage natural gas exploration and production company, announced today that the Company reached total depth (“TD”) of 2,431 feet on Hunter Wells #1. After logging the well, the log confirms that the shale formation encountered in this well is comparable to that of the wells evaluated in the Company’s original reserves study. The 4 ½” production casing will...