Natural Gas

Worker dies after Wyoming tank blast

Source: 
The Associated Press

One of four workers hurt in an explosion at a natural gas storage tank in Wyoming Tuesday died at a burns unit in a Salt Lake City hospital, a spokeswoman told The Associated Press.

WBM Management Inc.

Energy industry suppliers: Fracking equals jobs

Energy sector suppliers have a message for lawmakers: Stay out of the way of hydraulic fracturing, and we'll create hundreds of thousands of new jobs and generate billions of dollars in new tax revenues.

That was the bottom line of a new study by consulting firm IHS, commissioned by the Energy Equipment & Infrastructure Alliance, which estimates employment at companies that supply goods and services for the shale oil and gas boom could grow 45 percent to 757,000 jobs by 2025.

GE to give Penn State $10M for gas drilling center

PITTSBURGH (AP) — Penn State University said Wednesday that General Electric Co. will give the school up to $10 million to create a new center for natural gas industry research.

Penn State President Eric Barron said in a statement that the center will produce tangible benefits to the industry, to communities that are affected by drilling or related activity, and to consumers.

GE said the money will support research projects, equipment, and undergraduate, graduate, and postdoctoral fellowships at The Center for Collaborative Research on Intelligent Natural Gas Supply Systems. Barron planned to speak about the center during a luncheon with GE Senior Vice President Mark Little. GE is based in Fairfield, Connecticut.

Energy Transfer expansion not slowed by debt

Source: 
The Dallas Morning News

The high debt to earnings ratio for Energy Transfer Equity, parent of Energy Transfer companies that run one of the largest pipeline networks in the country and have acquired major gasoline station chains, isn’t stopping its push to tackle new projects fueled by the shale boom, The Dallas Morning News reports.

No increase foreseen in natural gas prices, says panel

Source: 
FuelFix

Panelists at a forum in Houston said Tuesday they expect natural gas prices will remain low, with financier T. Boone Pickens declaring he’s unlikely to see it reach $10 per million British thermal units, FuelFix reports.

Galveston trustees agree LNG lease option

Source: 
FuelFix

Trustees for the Port of Galveston have inked an agreement to set aside 185 acres on Pelican Island for NextDecade for six months in exchange for $100,000, as the company explores whether it’s feasible to build a facility there for LNG exports, FuelFix reports.

Jordan Cove developer buys pipeline stake

Source: 
Reuters

The company behind the Jordan Cove LNG export facility – Canada’s Veresen Inc – is paying $1.43 billion to take a half interest in the Ruby pipeline system that would bring natural gas from Wyoming to Oregon, Reuters reports.

AGA predicts milder winter but higher gas costs

Source: 
Platts

Temperatures this coming winter should be milder than they were during last winter’s deep freeze, but natural gas prices may be higher as industries and electricity generators use more gas, according to American Gas Association vice president Chris McGill, Platts reports.

Galveston considers LNG exports

Source: 
FuelFix

On Monday, Galveston Wharves trustees will consider a bid from NextDecade to lease 185 acres on Pelican Island for an LNG export facility, FuelFix reports.

Oil

Siemens to acquire Dresser-Rand for $7.6 billion

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.

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