Market News
Range Resources (RRC)
Range Resources will be selling nearly 500,000 acres of oil and natural gas properties primarily in Stark, Portage, Carroll and Tuscarawas counties in Ohio to Houston-based EnerVest Ltd., the largest oil and gas operator in Ohio.
EnerVest will be paying $330 million in the transaction.
Feb 11 · 11:48:00 AM · Source: Ohio.com
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by Michael Oliveto
Noble Energy (NBL)
Ecuador said it may buy a power plant from a unit of the U.S.’s Noble Energy Inc. as the government broadens state control of domestic energy production.
“They have proposed the sale and we are interested,” Borja said in a telephone interview yesterday from Guayaquil, Ecuador. “It will be negotiated.”
President Rafael Correa is tightening state control over the nation’s oil, natural gas and electricity production since taking office in 2007. Last month, the government said it began the process to cancel the natural-gas exploration and production contract belonging to Noble Energy’s EDC Ecuador Ltd. unit.
Feb 11 · 11:41:00 AM · Source: Business Week
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by Michael Oliveto
FMC Technologies (FTI)
FMC Technologies announced today that it has signed a multi-year frame agreement with Cobalt International Energy to provide subsea systems, including production trees, manifold hardware and distribution systems.
"Cobalt has established a world class exploration portfolio in the deepwater Gulf of Mexico and offshore West Africa," said John Gremp, FMC's Executive Vice President. "We are pleased to enter this long-term frame agreement and look forward to supporting their offshore efforts."
Feb 11 · 11:31:00 AM · Source: Company Press Release · Related: Cobalt International
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by Michael Oliveto
Chesapeake Energy (CHK)
Residents of neighborhoods in northeast Tarrant County, TX are moving toward executing a Barnett Shale natural gas lease with Chesapeake Energy after overwhelmingly approving proposed terms Saturday.
The lease proposal calls for a bonus of $5,250 per acre for a three-year primary term, with a $2,500 bonus for an optional second two-year term. The royalty rate would be 25 percent.
Feb 11 · 11:23:00 AM · Source: The Keller Citizen
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by Michael Oliveto
Chevron (CVX)
Chevron Corporation today announced that a consortium led by its
Venezuelan subsidiary has been selected to negotiate its participation in a project composed of three blocks in the Orinoco Oil Belt (Faja) of eastern Venezuela.
"We look forward to being part of this new opportunity that will expand development of one of the world`s largest known hydrocarbon resources," said Chevron Vice Chairman George Kirkland.
Feb 11 · 11:10:00 AM · Source: Reuters
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by Michael Oliveto
Oracle (ORCL)
Oracle has agreed to acquire Convergin, a leading provider of real-time service brokering solutions. Convergin’s industry-leading J2EE-based Service Broker platform enables communications service providers (CSPs) to manage services for a wide range of networks and application platforms, including pre-paid charging. The solution allows CSPs to focus on launching innovative services while modernizing to next-generation networks.
Oracle believes the combination of Oracle and Convergin will accelerate new service innovation while reducing network complexity and cost.
Feb 11 · 10:40:00 AM · Source: Company Press Release
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by Larry Etter
Dell (DELL)
Dell said today it has agreed to acquire KACE, a leading systems management appliance company with solutions tailored to the requirements of midsized businesses and public (government, education and healthcare) institutions.
The move puts Dell more into the system administrator side of I/T.
Feb 11 · 10:37:00 AM · Source: Company Press Release
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by Larry Etter
HP (HPQ)
HP today expanded its award-winning HP Officejet portfolio with its most affordable flatbed all-in-one printer. Starting at $99, the new HP Officejet 4500 All-in-One series brings professional quality color printing, wired and wireless connectivity, and four-in-one functionality to the home office at a low cost per page.
This product continues HP's leadership in the small business market.
Feb 11 · 10:29:00 AM · Source: Company Press Release
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by Rich Pike
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