Progress Energy CEO Johnson Urges Flexibility and Customer Protection in Implementing EPA Rules

The U.S. electric utility industry faces an “unprecedented convergence of new federal environmental rules – unprecedented in scope of change and compression of deadlines,” Progress Energy Chairman, President and CEO Bill Johnson told utility regulators Monday in Washington. And the “current fragmented approach, coupled with rapid-compliance... 

BPZ Energy Announces $50 Million 2011 Capital Expenditures Plan

BPZ Resources, Inc. announces the 2011 capital expenditures plan, approximating $50 million, for continued development of the Company’s assets in northwest Peru. The majority of the capital budget is expected to be spent on offshore Block Z-1, primarily for the design and construction of an additional production platform for the Corvina oil field;... 

Exxon profit up, tops Street on taxes and output

Exxon Mobil Corp reported a better-than-expected 53 percent increase in quarterly profit, helped by a lower tax rate and a surge in natural gas production in the United States and Qatar. Oil demand rose last year and the U.S. government expects another 1.5 percent gain this year as businesses’ and consumers’ appetite for fuels like diesel... 

Denbury Completes Sale of its Interests in Encore Energy Partners LP; CO2 Injections Commence at Hastings Field

Denbury Resources Inc. today announced that on December 31, 2010 it closed the previously announced sale of its ownership interests in Encore Energy Partners LP (NYSE:ENP – News) (“ENP”) to Vanguard Natural Resources, LLC (NYSE:VNR – News) (“Vanguard”). Denbury sold to Vanguard 100% of its interest in ENP’s general partner and... 

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... 

Gulf Coast Fractionators Announces Expansion of Its Natural Gas Liquids Fractionation Facility

Gulf Coast Fractionators, a partnership among ConocoPhillips, Devon Energy Corporation and Targa Resources Partners LP announced plans to expand the capacity of its natural gas liquids fractionation facility located in Mont Belvieu, Texas. The maximum gross fractionation capacity of the facility will be expanded by approximately 42 percent (43,000 barrels... 

Magma Awarded $10 Million in Department of Energy Grants for Its Soda Lake and McCoy Properties in Nevada

Magma Energy Corp. announce that its US subsidiary, Magma Energy (US) Corp. (“Magma”), has been awarded $10 million in American Recovery and Reinvestment Act funding for two of its Nevada geothermal exploration properties, Soda Lake and McCoy. The grants will reimburse 50 – 80% of Magma’s planned innovative exploration expenditures... 

Telvent Smart Grid DMS Targets Improved Electric Network Performance at University of Michigan

Telvent, the IT company for a sustainable and secure world, announced today that it will be supplying a new Distribution Management System (DMS) for the University of Michigan. Telvent’s DMS, one of the Company’s Smart Operations solutions and part of its comprehensive Smart Grid Solution suite, will help the University achieve its goal... 

Tuscany Energy Ltd. announces successful Saskatchwewan horizontal well

Tuscany Energy LTD report the successful drilling and completion of a horizontal oil well, in the Dina formation, in the Evesham area of southwestern Saskatchewan. The Tuscany et al. Evesham HZ 2B9-21-4B2-21-39-27 W3 well was drilled to a measured depth of 1467 m (759 m TVD) with a horizontal Dina section of 496 m. The well is currently producing 170... 

Atlantic Energy Solutions Chosen as Energy Efficiency Contractor for Two New Jersey Boroughs

Atlantic Energy Solutions, Inc. has been selected as the Energy Efficiency Solutions Company for two Northern New Jersey boroughs. The company was selected amid tough competition after borough officials spent time with Atlantic Energy in order to better understand the benefits Atlantic Energy offers. The boroughs wanted Atlantic Energy Solutions to...