Houston Wire & Cable Company Reports Results for the Fourth Quarter and Year Ended December 31, 2010

Houston Wire & Cable Company announced operating results for the fourth quarter and fiscal year ended December 31, 2010. Selected highlights for the quarter: * Record sales of $93.5 million * Gross margin up 110 basis points over the fourth quarter of 2009 * Revenues increased 47.3% over the fourth quarter of 2009 * Net income up... 

Moody’s Confirms Nexen’s Investment Grade Credit Rating

Earlier today, Moody’s Investors Service announced the completion of their credit review and confirmed Nexen’s Baa3 rating with a negative outlook. We expect to retain this rating and remove the negative outlook by reducing our debt to levels commensurate with the rating by late this year or early 2012, and retaining sufficient cash to fund... 

Callon Petroleum Company Announces Fourth Quarter, Full Year 2010 Reporting Date and Conference Call

Callon Petroleum Company today announced its fourth quarter and full year 2010 results of operations will be released on Monday afternoon, March 14, 2011. A conference call discussing the results and current activity is scheduled for 10 a.m. Central Daylight Time Tuesday, March 15, 2011. The conference call may be accessed live over the internet through... 

Hercules Offshore, Inc. Signs Purchase Agreement to Acquire Assets of Seahawk Drilling

Hercules Offshore, Inc. announced today that it has entered into an Asset Purchase Agreement with Seahawk Drilling, Inc. (Nasdaq:HAWK – News) and its affiliates (collectively “Seahawk”) to purchase 20 jackup rigs and related assets from Seahawk for approximately 22.3 million shares of Hercules Offshore common stock and cash consideration... 

Helix Announces Departure of COO

Helix Energy Solutions Group, Inc. announced today that Bart Heijermans has resigned as Executive Vice President and Chief Operating Officer effective January 21, 2011. Mr. Heijermans’ duties will be assumed by Owen Kratz and other members of senior management. Owen Kratz, Helix’s President and Chief Executive Officer, stated “Since... 

Parker Drilling Schedules Fourth Quarter 2010 Earnings Release and Conference Call

Parker Drilling announced today it intends to report its financial results for the Fourth Quarter 2010 on Wednesday, Feb. 23. The Company expects to issue its earnings report that morning and will follow with a conference call at 10:00 a.m. CST (11:00 a.m. EST). Those interested in listening to the call by telephone may do so by dialing (480) 629-9722.... 

Enterprise Announces 26th Consecutive Quarterly Distribution Rate Increase

Enterprise Products Partners L.P. announced today that the board of directors of its general partner declared an increase in the quarterly cash distribution rate paid to partners to $0.59 per common unit, or $2.36 per unit on an annualized basis. The quarterly distribution will be paid on Monday, February 7, 2011, to unitholders of record as of the... 

BP and Russia’s Rosneft in share swap, Arctic pact

BP Plc and Russia’s state-controlled Rosneft (ROSN.MM) agreed to a share swap under which they plan to jointly explore for offshore oil and gas in a deal that gives the UK company access to areas of the Arctic previously reserved for Russian oil companies. BP (BP – News), recovering from its Gulf of Mexico oil spill disaster, will swap 5... 

BP’s U.S. spill experience a plus: Russian Minister

A Russian minister said BP’s experience in cleaning up the catastrophic Gulf of Mexico oil spill was one of the reasons Russia chose the British oil firm to help develop its fragile Arctic shelf oil fields. BP and Russia’s state-controlled Rosneft on Friday agreed to a multi-billion-dollar share swap, under which they will jointly explore... 

Spill panel calls for offshore drilling reform

Blaming the massive BP oil spill on government and industry complacency, a White House panel on Tuesday called for a dramatic overhaul of the way the U.S. regulates offshore drilling. The White House oil spill commission, in its final report of the BP drilling disaster, said the U.S. government needs to expand its drilling regulations, as well as set...