HOUSTON (AP) — German electronics and engineering company Siemens AG has reached a deal to acquire oilfield equipment maker Dresser-Rand for $7.6 billion.
Under the deal announced early Monday in Germany, Siemens will pay $83 per common share of Dresser-Rand Group Inc., $3.09 more than the company's closing share price on Friday. Dresser Rand's market capitalization is $6.12 billion. The deal includes assumption of debt.
Dresser-Rand's board of directors unanimously recommended the offer to shareholders, and Siemens expects to close the deal by summer, according to a statement from the company.
Kinder Morgan has filed a request with the Maine Public Utilities Commission to take capacity on its planned Northeast Energy Direct Project, which the company hopes would bring as much as 2.2 billion cubic feet of natural gas per day into New England, FuelFix reports.
Egypt and Jordan have expressed interest in buying natural gas from Cyprus, the country’s energy minister Yiorgos Lakkotrypis said Thursday, ahead of the beginning of exploratory offshore drilling by an international consortium in a field controlled by Noble Energy and Israeli partners, The Associated Press reports.
PITTSBURGH (AP) — Energy company Range Resources said Thursday it has agreed to pay a $4.15 million fine for environmental violations at a western Pennsylvania site that handled natural gas drilling waste.
The penalty is the largest the state has ever imposed on the shale gas industry.
Range, based in Fort Worth, Texas, said in a statement that it accepts the Pennsylvania Department of Environmental Protection fine and is "deeply disappointed" over the violations at Washington County wastewater impoundments, about 25 miles southwest of Pittsburgh.
Two studies released this week found that fracking was not responsible for contaminating water in Pennsylvania and Texas, but the jury is still out on a case near Pavillion, Wyo., experts told the Casper Star-Tribune.
PITTSBURGH (AP) — Chevron has become the first energy company to meet a new set of voluntary shale gas drilling standards that aim to go beyond existing state laws in Pennsylvania, Ohio and West Virginia, the Pittsburgh-based Center for Sustainable Shale announced Thursday.
The center is a partnership between major energy companies, environmental groups and charitable foundations. Its certification process consisted of an independent review of Chevron documents and 22 of its production sites in the three states.
Consol Energy and Noble Energy hope to raise more than $422 million on 20 million shares up for sale in an initial public offering for their firm Cone Midstream Partners, according to documents filed with the Securities and Exchange Commission Wednesday, the Houston Business Journal reports.
In a non-binding vote last week, shareholders of Cheniere Energy said no to the company’s 2013 plans for executive compensation, including a package for CEO Charif Souki worth $142 million, according to documents filed with regulators Wednesday, FuelFix reports.
Environmental groups hold media teleconference to call for federal regulations to limit methane releases and leaks. Representatives of Clean Air Task Force, Environmental Defense Fund, Natural Resources Defense Council, Sierra Club to speak.
With the Keystone XL pipeline still delayed, Transcanada has filed with the State Department to get approval for the Upland Pipeline, which would bring Bakken crude north to Saskatchewan, The Wall Street Journal reports.
A unanimous ruling from a three-judge panel of the U.S. Court of Appeals for the District of Columbia Circuit leaves in place Environmental Protection Agency regulations on heavy truck efficiency and greenhouse gas emissions, The Hill reports.
Word that Russia, Norway and possibly Saudi Arabia are ramping up oil production pressured prices Friday. U.S. benchmark crude dropped 1 percent, or 59 cents, to $57.15 a barrel on the New York Mercantile Exchange, while in London Brent gained 43 cents to $65.28 a barrel, a new five-month high, The Wall Street Journal reports.
Alliant Energy’s Wisconsin Power & Light has formally asked state regulators to approve a new gas-fired plant that will cost $750 million, alongside a solar facility intended to generate 2 megawatts, the Milwaukee Journal Sentinel reports.
Two Democrats – Sens. Joe Manchin of West Virginia and Bob Casey of Pennsylvania – have introduced comprehensive mine safety legislation intended to beef up regulatory enforcement and close loopholes in the 1952 Federal Coal Mine Safety Act, WVPN reports.