Oil at $90 brings small OPEC supply rise: survey

OPEC output has risen slightly in December as Nigerian supply has increased, a Reuters survey found, indicating the group has yet to boost production substantially in response to prices at a 26-month high. Supply from the 11 members of the Organization of the Petroleum Exporting Countries with output targets, all except Iraq, has averaged 26.75 million... 

Magnum Hunter Resources to Acquire Appalachian Basin Focused NGAS Resources for $98 Million

Magnum Hunter Resources Corporation and (AMEX:MHR-PC – News) (“Magnum Hunter”, or the “Company”) announced today that it has entered into a definitive agreement to acquire Appalachian Basin focused NGAS Resources, Inc. (NASDAQ:NGAS – News) for approximately $98 million (USD) in common stock and assumed liabilities.... 

Enterprise Strengthens Eagle Ford Shale Position with Chesapeake Agreements

Enterprise Products Partners L.P. nnounced today that the partnership has entered into 10-year agreements to handle a substantial portion of Chesapeake Energy Corporation’s (NYSE:CHK – News) liquids-rich natural gas production in the Eagle Ford Shale. Chesapeake’s gross acreage position currently comprises more than 625,000 acres in and around... 

Enbridge to Further Expand Athabasca Pipeline Capacity

Enbridge Inc.announced today a further expansion of its Athabasca Pipeline to its maximum capacity of approximately 570,000 bpd. The expansion is required to accommodate additional contractual commitments beyond those reflected in the initial expansion announced in September. The estimated incremental cost of the additional expansion is approximately... 

Whiting Petroleum Corporation Elects James T. Brown President and COO

Whiting Petroleum Corporation today announced that its Board of Directors elected James T. Brown President and Chief Operating Officer of Whiting Petroleum Corporation, effective January 1, 2011. Mr. Brown joined Whiting Petroleum Corporation in May 1993 as a consulting engineer, became Operations Manager in 1999, was elected Vice President of Operations... 

Harvest Operations Announces $1.4 Billion Capital Budget

Harvest Operations Corp. announced today that its Board of Directors has approved a budget for 2011 that includes an $1.4 billion capital expenditure program intended to boost upstream production and improve downstream operational efficiencies. John Zahary, Harvest’s President and Chief Executive Officer, said, “In 2011, our plan is to continue... 

Mascoma Expanding Its Leadership Team as Company Accelerates Towards Commercialization

Mascoma Corporation announced several management reconfigurations, as the company moves into its commercial development phase. Mascoma has developed proprietary technology, called Consolidated Bioprocessing (CBP), which enables the production of sustainable, low carbon cellulosic ethanol. This technology has been proven in Mascoma’s Rome, New York... 

BPZ Energy Closes $44 Million Private Placement of Common Stock

BPZ Resources, Inc. announced that it closed the previously announced private placement of common stock for gross proceeds of approximately $43.6 million. The Company sold approximately 14.3 million shares to institutional and accredited investors at a price of $3.05 per share pursuant to a Stock Purchase Agreement dated as of February 19, 2009. Additionally,... 

Verenium Announces First Commercial Cellulosic Ethanol Project

Verenium Corporation, a pioneer in the development of next-generation cellulosic ethanol and high-performance specialty enzymes, announced plans to build its first commercial-scale cellulosic ethanol facility in Highlands County, Florida. The Company has entered into long-term agreements with Lykes Bros. Inc., a multi-generation Florida agri-business... 

BPL Global and BPL Africa to Expand Smart Grid Project Nationwide in Ghana

BPL Global®, Ltd. (BPLG), a smart grid technology company dedicated to leading the transformation of energy efficiency and reliability, announced today that the company has signed a 5-year modern grid contract in partnership with BPL Africa, with Ghana’s national utility, Volta River Authority (VRA). The agreement implements smart grid technologies...