Posts Tagged ‘Oil’

Gulf oil and gas leases to go up for sale in March

GULF OF MEXICO — Oil and gas leases for 40 million acres off the coasts of Louisiana, Mississippi and Alabama will be offered by the federal government in a March sale at the Superdome in New Orleans, the Bureau of Ocean Energy Management said Friday. The sale will include approximately 7,611 blocks, covering 40.5 million […] [...]

Texas company sites warehouse/plant in Southeast Mississippi

SUMMIT — A Houston oil-field services company is locating a new facility in Summit that will warehouse and eventually manufacture drilling fluids for oil drillers in the Tuscaloosa Marine Shale formation. Newpark Drilling Fluids officials say the project will create 40 new jobs. Tuscaloosa Marine Shale formation is located in southwest Mississippi and central Louisiana. […] [...]

Bryant hires ex-MDEQ leader Fisher as consultant

JACKSON — Gov. Phil Bryant has hired the former director of the Mississippi Department of Environmental Quality as a consultant. The contract with Trudy Fisher, dated Sept. 5, says she will advise the governor on energy policy, environmental and restoration policy and provide support in court cases. The agreement is good for six months and […] [...]

Treasury okays rule for dividing oil spill recovery trust funds

GULF COAST — The U.S. Treasury Department says it has cleared the way for Gulf Coast state and local governments to begin applying for recovery grants through a federal RESTORE Act trust fund fed with civil penalties arising from the 2010 BP oil spill. A department statement says that, so far, the trust fund has […] [...]

Ergon expanding Vicksburg refinery, spending $150M

VICKSBURG — Ergon Inc. says it will spend $150 million to expand its Vicksburg refinery. The Flowood-based private company said yesterday that it would enhance parts of the refinery and expand its tank farm. It said the changes, in addition to allowing it to make more products, would allow Ergon to feed the refinery with […] [...]

Midla strikes agreement in principal on aging pipeline

NATCHEZ — American Midstream Midla, LLC, a subsidiary of American Midstream Partners, LP, has reached an agreement in principle regarding Midla’s interstate pipeline that traverses Louisiana and Mississippi. Parties involved reached the agreement in principle in order to provide continued service to Midla’s customers while addressing safety concerns with the existing pipeline. Midla and the […] [...]

Callon Petroleum stock sale for acquisitions raises $122M

NATCHEZ — Callon Petroleum Co. has raised $122 million from a stock sale, with plans to use the proceeds to pay for new oil and gas properties it plans to buy in the Permian Basin of west Texas. The Natchez-based company announced it has sold 14.38 million shares at $9 per share, paying about $7 […] [...]

Callon Petroleum to sell shares to fund acquisition in Texas

NATCHEZ — Callon Petroleum Company is selling stock to pay for new oil and gas properties it plans to buy in the Permian Basin of west Texas. The Natchez-based company will sell 12.5 million shares, giving the brokerages underwriting the sale the option to buy up to another 1.875 million shares. At current prices, Callon […] [...]

BP possibly facing another $18B in fines after Barbier’s oil spill ruling

NEW ORLEANS — BP could be looking at close to $18 billion in additional fines over the nation’s worst offshore oil spill after a federal judge ruled yesterday that the company acted with “gross negligence” in the 2010 Gulf of Mexico disaster. U.S. District Judge Carl Barbier concluded that the London-based oil giant showed a […] [...]

Judge rules BP’s ‘reckless conduct’ caused 2010 Gulf oil spill

NEW ORLEANS — A federal judge has ruled that BP’s reckless conduct resulted in the nation’s worst offshore oil spill, leaving the company open to billions of dollars in penalties. U.S. District Judge Carl Barbier’s ruling today could nearly quadruple the amount of civil penalties for polluting the Gulf of Mexico with oil from BP’s […] [...]

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