Posts Tagged ‘Oil’

Treasury Department sets rules for BP oil spill money

GULF OF MEXICO — The U.S. Treasury has set out 97 pages of rules for investing and allocating money that BP PLC and other defendants will pay in Clean Water Act fines for the Gulf of Mexico oil spill of 2010. The rules released yesterday formally set up a trust fund for money that state […] [...]

BP wants Supreme Court to toss part of oil spill settlement plan

NEW ORLEANS — BP PLC has asked the U.S. Supreme Court to throw out part of its settlement of claims for damage from its enormous oil spill in 2010 — a section saying businesses don’t have to prove that the spill directly harmed them to be eligible for payment, only that they lost money afterward […] [...]

Horizon Energy optimistic after oil field recompletion

GULFPORT — Horizon Energy Corporation is reporting positive results for its exploration project in the East Texas counties of Cherokee and Rusk, and the project has entered the revenue-producing stage. The company said it is now eyeing other sites in the area that can be recompleted in similar fashion. “Recompletion projects in this area have […] [...]

Horizon Energy sees 300 percent production increase from Texas well

GULFPORT — Horizon Energy Corporation’s workover and stimulation operation at the Holmes Oil Unit Number 1 in Cherokee County, Texas, has increased production 300 percent since the beginning of the project. “This operation is still coming out of initial production and we are very encouraged at the prospects going forward,” said Robert Bludorn, president and […] [...]

Ergon plans significant expansion of Appalachian operations

JACKSON — Ergon Inc. plans to enhance its subsidiaries’ facilities in the Appalachian Basin. The Appalachian Basin comprises the Marcellus Shale and Utica Shale Plays. Several Ergon subsidiaries, including Ergon-West Virginia Inc., its refinery, acquired from Quaker State in 1997, Ergon Oil Purchasing Inc., Ergon Terminaling Inc., Ergon Trucking Inc. and Magnolia Marine Transport Company, […] [...]

Horizon to implement Intellipumper in Texas oil field

GULFPORT — Horizon Energy Corporation’s Intellipumper will be placed in operation at its East Texas site on the Holmes Oil Unit Number 1 in Cherokee County, Texas. The Intellipumper is a rod pump control solution designed to optimize the reliability and energy efficiency of pump wells. “The Intellipumper will improve the performance of each individual […] [...]

Horizon ‘optimistic’ after testing in Texas shows oil, gas

GULFPORT — Horizon Energy Corporation is “optimistic” after fracture stimulation testing at the Holmes Oil Unit Number 1 in Cherokee County, Texas. Swabbing procedures have confirmed the presence of oil and gas in sufficient quantities to warrant scheduling production. A workover rig will arrive onsite within the next two weeks to put pump equipment back […] [...]

A Q&A with Gov. Phil Bryant — Energy, oil and other things

Gov. Phil Bryant earlier this month delivered a keynote address to oil company executives and others gathered in Houston for the Tuscaloosa Marine Shale Summit. Upon his return, the governor’s office agreed to answer a series of questions on the subject of the Tuscaloosa Marine Shale. Here is the Q&A: Q — Does the governor […] [...]

Big investment in Halcón drilling reflects confidence in a lucrative TMS

by Published: June 26,2014

Tags: Business, energy, Mississippi, Oil, Politics

A private equity firm’s pledge to invest up to $400 million in Halcón Resources’ deep drilling in Mississippi and Louisiana could lead to a doubling of Halcón’s 2015 operations in the region. The investment from Apollo Globe Management allows Halcón to accelerate its drilling for oil and gas on the 314,000 acres the Houston-based company […] [...]

Judge rules against MDA’s regulations on offshore leases

GULF OF MEXICO — A Hinds County judge says the state must write a better economic impact statement on proposed offshore natural gas and oil exploration in parts of the Mississippi Sound before it can enact rules to lease areas that could be drilled. “A cursory reading of the EIS finds that it is severely […] [...]

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