RedHawk Energy Acquires Xxtreme Group for $66.0 Million

RedHawk Energy Corporation announced that it has acquired 100% of the membership interests of Texas-based Xxtreme Pipe Services, LLC, Xxtreme Pipe Storage, LLC, Xxtreme Tubular Processors, LLC and Wolf Pack Rentals, L.L.C. (collectively, the “Xxtreme Group”) for $66.0 million in cash, preferred stock and assumed debt. The purchase price is subject to certain post-closing adjustments. Headquartered... 

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Avista Corp. Closes New $200 Million Line of Credit

Avista Corp. has closed on a $200 million, 364-day line of credit, which expires on Nov. 24, 2009. The credit facility is with a group of banks, including Union Bank of California, N.A., as administrative agent, Wells Fargo Bank, National Association, as syndication agent and JP Morgan Chase Bank, N.A., as documentation agent. “We are very pleased to have this credit facility in place, especially... 

Capstone Reports Minto Mine Connected to Yukon Electrical Grid

Capstone Mining Corp. announced that its Minto copper-gold mine in the Yukon was officially connected to Yukon Energy’s electrical grid at a ceremony attended by the Premier of the Yukon, the Minister of Economic Development, the Minister of Energy Mines & Resources and Stephen Quin, President & COO of Capstone. “Connection to Yukon Energy’s electrical grid represents the... 

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Occidental Petroleum Corporation and Mubadala Development Company Sign EPSA to Develop Gas Fields in Oman

Occidental Petroleum Corporation and Mubadala Development Company of Abu Dhabi (Mubadala) announced the signing of an Exploration and Production Sharing Agreement with the Ministry of Oil and Gas in the Sultanate of Oman. Under the terms of the EPSA, the parties will develop four existing gas fields and explore for potential new discoveries in a newly formed contract area (“Habiba” –... 

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IFC Provides Financing to Peru’s Oil and Gas Industry Amid Global Credit Crisis

IFC, a member of the World Bank Group, has disbursed a $15 million loan to BPZ Exploración y Producción SRL, supporting a growing Latin American oil and gas company in making use of Peru’s natural resources during a time of tight credit markets. BPZ Exploración y Producción is a Peruvian subsidiary of BPZ Resources, Inc. As the global financial crisis has made raising money difficult for the... 

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MacroSolve Mobilizes Oil and Gas Industry With eLynx Technologies

MacroSolve, Inc., parent company of Anyware Mobile Solutions, announced its work with oil and gas industry client eLynx Technologies to deliver SCADALynx Mobile Edition, enabling eLynx customers to use BlackBerry and other smartphones to retrieve and update data critical to their daily operations and efficiency. “As the leading provider of web-based monitoring and field automation services to the... 

Carrizo Oil & Gas, Inc. and Avista Capital Partners Announce Formation of Joint Venture in Marcellus Shale

Carrizo Oil & Gas, Inc. and Avista Capital Partners announced that they have entered into a joint venture to pursue growth opportunities in the Marcellus Shale. Under the terms of the agreement, Carrizo and Avista have each committed to contribute up to $150 million in cash and properties to acquire and develop acreage in the Marcellus Shale play, including the dedication of all of their respective... 

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Tanner Companies Announces Name Change to Cadre Services, Inc.

Tanner Companies, a premier provider of oilfield services primarily in Texas and Louisiana, announced that it has changed its name to Cadre Services, Inc. The change is effective immediately. “Over the past 25 years, Tanner Companies has proudly served the oil and gas market with a growing portfolio of products and services ranging from oilfield construction and pipeline services to pump, fabrication... 

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Chevron Sells Marketing Businesses in Kenya and Uganda

Chevron Corporation announced that its subsidiary Chevron Africa Holdings Limited has agreed to sell 100 percent of its shareholdings in Chevron Kenya Limited and Chevron Uganda Limited to Total Outre Mer S.A (Total). Under the terms of the sales, Total is to acquire Chevron’s marketing businesses in both countries. Chevron Kenya Limited and Chevron Uganda Limited’s assets include 165 Caltex-branded... 

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EnCana discovers small natural gas leak at well site near Dawson Creek, B.C.

Shortly after noon today, a contract worker discovered a small natural gas leak at an EnCana Corporation well site south of Dawson Creek, B.C. EnCana immediately initiated emergency response procedures and operations engineers are working to stop the leak. The volume of natural gas leaking from the well is very small and does not present a danger to field workers, area residents or the public. Residents...