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Caterpillar Says Sales will Grow Slower in 2013

Caterpillar Says Sales will Grow Slower in 2013

The largest maker in the world of mining and construction equipment, Caterpillar Inc. has forecasted that sales growth during 2013 would slow down and be less than in the last three years, as a deceleration of the global economy takes... 
California Gas Prices Hit Record Highs

California Gas Prices Hit Record Highs

Over the weekend, the price of gasoline in California hit new record highs. The new highs were reached after a surge in prices at the pumps had been propelled by a downfall in inventories in the area to historic lows. The average price... 
Wednesday’s Top NYSE Energy Gainers, Losers (SM, CZZ, PTEN, YZC, DK, BP)

Wednesday’s Top NYSE Energy Gainers, Losers (SM, CZZ, PTEN, YZC, DK, BP)

SM Energy Co. (NYSE:SM) blew up Wednesday trading with a daily percentage gain of 8.11% and closed at $51.56 per share.  SM Energy announced today that their Eagle Ford shale program averaged 230 MMCFE/d in July 2012 and that for... 
Shell’s Subsidiary SPDC Sells OML 40 Interest to Elcrest and Production Nigeria

Shell’s Subsidiary SPDC Sells OML 40 Interest to Elcrest and Production Nigeria

Royal Dutch Shell plc (NYSE:RDS.A)(NYSE:RDS.B) announced today that their subsidiary, Shell Petroleum Development Company of Nigeria Limited (SPDC), has completed its sale of their 30% interest in Nigerian Oil Mining Lease (OML) 40... 
Natural Resoure Partners Completes Fifth Coal Reserve Acquisition

Natural Resoure Partners Completes Fifth Coal Reserve Acquisition

Natural Resource Partners L.P. (NYSE:NRP) has completed its fifth coal reserve acquisition at Deer Run mine near Hillsboro, Illinois, according to a company statement released earlier today. The new acquisition comes at the expense... 
Penn Virginia Resource Partners (PVR) Gains Pipeline Easement Option

Penn Virginia Resource Partners (PVR) Gains Pipeline Easement Option

Penn Virginia Resource Partners, L.P. (NYSE: PVR) has announced that they have acquired an option to purchase a pipeline easement in Susquehanna County which puts them closer to serving producers in the region. The easement involves... 
Chevron (CVX) Details 2012 Exploratory Budget

Chevron (CVX) Details 2012 Exploratory Budget

Chevron (NYSE:CVX) announced today the amount of cash it would use for 2012 exploration – $32.7 billion dollars. The forecast $32.7 billion dollar figure for 2012 exploration is slightly down from 2011’s estimated number,... 
Shell (RDSA) Signs Oil Contract with PETRONAS

Shell (RDSA) Signs Oil Contract with PETRONAS

Royal Dutch Shell plc (LON:RDSA) announced today that they have signed a Heads of Agreement (HOA) contract with PETRONAS. The deal is a pair of 30-year production sharing contracts (PSC’s) for enhanced oil recovery (EOR) projects... 
Caterpillar (CAT) Finalizes Acquisition of MWM Holding GmbH

Caterpillar (CAT) Finalizes Acquisition of MWM Holding GmbH

Caterpillar (NYSE:CAT) announced today that they have formally completed the acquisition of MWM Holding GmbH.  On October 19th, 2011, the European Commission paved the way for Caterpillar to acquire MWM, which they have officially... 
General Electric (GE) Provides Components to ProWater Systems

General Electric (GE) Provides Components to ProWater Systems

General Electric Company (NYSE:GE) announced today that they will be providing components to ProWater for their Centerline modular saltwater disposal (SWD) and deep injection well (DIW) systems, which the company indicates that it... 
Chevron (CVX) Shares Reach New High Pre-Earnings

Chevron (CVX) Shares Reach New High Pre-Earnings

Chevron Corporation (NYSE:CVX) reaches new 52-week high leading up to tomorrow’s earnings report, details are below. The company will host its quarterly conference call tomorrow at 11:00 A.M., Eastern.  Chevron has said that... 
BP Makes Strides on Devenick Gas Project

BP Makes Strides on Devenick Gas Project

BP (NYSE:BP) announced today that they have made strides on their Devenick gas project in the central North Sea.  First discovered in 1983, the Devenick field is located 35 kilometers north of Marathon Oil’s East Brae platform. BP... 
Chevron Augments Oil Production with Solar Thermal Power

Chevron Augments Oil Production with Solar Thermal Power

Chevron has approached oil production with a novel use of solar power.  Today, the company announced they demonstrated what thermal solar power can do with some mirrors in conjunction with oil production. “Solar thermal”... 
ExxonMobil Affiliate Plans Twin Liberty Class Crude Carriers

ExxonMobil Affiliate Plans Twin Liberty Class Crude Carriers

ExxonMobil announced today that their affiliate, SeaRiver Maritime, Inc. has signed an agreement with Aker Philadelphia Shipyard for the construction of two Liberty-class crude carriers. ExxonMobil said that the ships are double-hulled... 
Chevron Begins Australian Wheatstone Project

Chevron Begins Australian Wheatstone Project

Chevron announced today that they will begin their Australian whetstone project that they have been mulling over. Whetstone Project Details:  It is a processing platform down about 240 feet in the water off the coast of western Australia. ... 
GE Signs Service Agreement with Iraq’s Mass Global

GE Signs Service Agreement with Iraq’s Mass Global

GE announced today that they have signed a service agreement with Iaq’s Mass Global.  Mass Global delivers electricity to northern Iraq. The agreement will provide Mass Global with a 12-year contract for parts and repair of... 
Chevron Discovers Oil in United States Gulf of Mexico

Chevron Discovers Oil in United States Gulf of Mexico

Chevron has discovered oil in the Gulf of Mexico in deep-water according to a company announcement. The oil was discovered within Chevron’s Moccasin prospect at the Keathley Canyon Block 736 Well No. 1. which encountered more... 
BP Acknowledges Halliburton Lawsuit

BP Acknowledges Halliburton Lawsuit

BP announced today that they have acknowledged the lawsuit filed by Halliburton against the company. Wrote in a company statement, BP said, “BP is aware of the claims filed against the company on 1 September 2011 by Halliburton.... 
bpTT Begins Natural Gas Production at Serrette Field

bpTT Begins Natural Gas Production at Serrette Field

BP Trinidad and Tobago (bpTT) has announced that they have begun natural gas production at the Serrette field which is offshore of Trinidad. bpTT says that the natural gas is being produced at 280 feet under water off Trinidad’s... 
GE is Bookrunner of $300 Million Loan to Entegra Power Group

GE is Bookrunner of $300 Million Loan to Entegra Power Group

General Electric is the bookrunner of a joint effort in providing $300 million dollars in senior secured credit facilities to Entegra Power Group who uses natural gas plants to provide electricity to customers in southeastern and southwestern...