The Essar group may invest $400-600 million over the next few years to gain a sizeable presence in both land and offshore drilling services.
Essar Oilfields Services Ltd, the unlisted subsidiary of Essar Shipping and Logistics, will oversee the group’s efforts in this direction. Sources said Essar Oilfields is planning to have a “diversified and [...]
Allis-Chalmers Energy Inc. announced the completion of its acquisition of substantially all the assets of Oil & Gas Rental Services, Inc., a Louisiana-based corporation that provides rental tools to both offshore and onshore exploration and production companies. The purchase price consisted of $291.0 million in cash and 3.2 million shares of Allis-Chalmers common stock. In [...]
Parker Drilling Co., which provides offshore drilling services, on Wednesday said it has agreed to sell two of its barge rigs in the Gulf of Mexico to Basic Energy Services Inc. for about $20 million.
Parker expects to book a $5 million gain on the sale and said it plans to use proceeds to fund 2007 [...]
Parker Drilling Co., which provides offshore drilling services, on Wednesday said it has agreed to sell two of its barge rigs in the Gulf of Mexico to Basic Energy Services Inc. for about $20 million.
Parker expects to book a $5 million gain on the sale and said it plans to use proceeds to fund 2007 [...]
The group Environment Florida lashed out at Congress for voting to allow expanded oil drilling in the Gulf of Mexico.
The legislation awaiting President Bush’s signature opens eight-point-three (m) million acres of Gulf waters, including an area that’s located 125 miles from the Florida Panhandle.
Environment Florida spokesman Mark Ferrulo (fur-ROO-low) said yesterday there are two big [...]
A few months ago, a bipartisan compromise on offshore drilling worked out by Florida Sens. Bill Nelson and Mel Martinez appeared to be the best outcome for the state. The Republican-led House wanted less protection for Florida beaches and refused to accept the Senate’s offer. Then a funny thing happened in the recent election. Republicans [...]
Hours before adjourning for the year, the U.S. Congress on Saturday sent President George W. Bush legislation that would open 8.3 million acres in the Gulf of Mexico to oil and natural gas drilling and redistribute billions of dollars in royalties to four Gulf states.
The drilling measure was wrapped into a broad tax and trade [...]
Congress approved expanded offshore drilling in its final hours, giving energy companies access to oil and natural gas deposits in a vast area once off limits in the Gulf of Mexico.
President Bush, who is expected to promptly sign the legislation, said it “will help to reduce our dependence on imported sources of energy by increasing [...]
Husky Energy Inc. and Norsk Hydro Canada Oil & Gas say they have found new energy deposits near the Terra Nova oilfield off the East Coast.
Calgary-based Husky and Norwegian-owned Norsk Hydro said late Tuesday that offshore drilling in the Jeanne d’Arc Basin off the coast of Newfoundland and Labrador had found hydrocarbons near Terra Nova, [...]
House Republicans on Tuesday postponed action on what was to be one of the last major legislative achievements of this session of Congress, a bill to open a large area of the eastern Gulf of Mexico to oil and gas drilling.
Republicans gave no reason for the decision not to vote on the Senate plan to [...]
