Energy Briefing: Oil and Gas Companies Driving Sector - PetroTech Oil & Gas, Oasis Petroleum, Petroleo Brasileiro, Cheniere Energy, Kinder Morgan
CORAL SPRINGS, Florida, September 6, 2013 /PRNewswire/ --
FinancialNewsMedia.com issues news updates for today's trending oil and gas companies leading the energy sector: PetroTech Oil and Gas, Inc. (OTC: PTOG), Oasis Petroleum Inc./YSE: OAS), Petroleo Brasileiro SA or Petrobas S.A. (NYSE: PBR), Cheniere Energy, Inc. (NYSE: LNG) and Kinder Morgan, Inc. (NYSE: KMI).
PetroTech Oil and Gas, Inc. (OTC: PTOG) Headline: PetroTech Oil & Gas Engages CPA Audit Firm and Attorney Firm to complete fully reporting status on the OTC: QB PetroTech Oil and Gas is pleased to announce the engagement of Rattray and Associates CPA's, to complete the necessary filings and audits to upgrade the company to fully reporting status on the OTC: QB, along with the engagement of The law offices of Jonathan Leinwand to prepare the Form 10 filings. "Rattray and Associates has been retained as the Company's auditor to facilitate full GAAP audits for YE 2011 and YE 2012 and 2013, providing transparency to current and future shareholders" Stated Ken Weidrich CFO of Petro Tech oil and Gas.
To read the entire press release, please go to http://finance.yahoo.com/q/h?s=PTOG+Headlines
"Petrotech President Eddie Schilb stated, "Rattray and Associates have successfully completed several recent acquisitions and mergers and look forward to seeing its expertise benefit the shareholders of PetroTech. With the addition of Rattray and Associates, and Jonathan Leinwand, we strongly feel we have a great team in place to ensure that the financial integrity and accountability that is so important today is in place for our shareholders."
FNM Sector Commentary: The average American household had an extra $1,200 last year because of lower energy prices for natural gas, electricity and goods and services. The savings are expected to rise to $2,700 in 2020 and $3,500 in 2025. Foreign and U.S. chemical companies invested $4.8 billion in American plants last year and will spend an estimated $12.8 billion in 2015. Much of the investment is along the Texas coast. By 2025, total new chemical investments will reach $129.3 billion and create 319,000 new jobs. The boom had created 2.1 million direct and indirect jobs by the end of last year. The number is expected to reach almost 3.9 million by 2025. To read this article in full, please click here: http://www.dallasnews.com/business/energy/20130904-study-widespread-economic-gains-seen-from-oil-and-gas-boom.ece
Oasis Petroleum (NYSE: OAS) will add 161,000 net acres for $1.52 billion after signing four, unrelated acquisition agreements. This will include the purchase of 136,000 net acres in and around its position in North Dakota in its West Williston project area for $1.45 billion, Oasis announced today. At existing production levels, the transactions will add approximately 9,300 barrels of oil equivalent (boe) per day, bringing Oasis' total production to an estimated 43,000 boe daily, the company said. Oasis added that of the 136,000 acres in the West Williston area, 91,000 have no depth limitations, which are sometimes imposed to protect underground water supplies.
Petroleo Brasileiro SA or Petrobras S.A. (NYSE: PBR), a Brazilian state-run energy giant, has entered into an agreement with leading project management, engineering and construction company, Technip (TKPPY). The four-year deal includes project modification services for Petrobras' Rio de Janeiro Operations Unit (UO-RIO) formed after restructuring the Exploration and Production segment in Nov 2000. The deal also includes services for the existing offshore platforms in Brazil's Campos Basin area. The services in the offering include basic and detailed designing, updating documents, engineering consultation, as well as planning, control and execution in 13 offshore platforms. The project management, engineering and procurement services will be carried out at Technip's Rio de Janeiro operating center as per client request.
Cheniere Energy, Inc.(NYSE: LNG), an energy company, engages in the liquefied natural gas related business. It operates through two segments, LNG Terminal Business, and LNG and Natural Gas Marketing Business. The company owns and operates terminal projects, including Sabine Pass LNG in western Cameron Parish, Louisiana; Corpus Christi LNG near Corpus Christi, Texas; and Creole Trail LNG at the mouth of the Calcasieu Channel in central Cameron Parish, Louisiana. It is also involved in LNG and natural gas marketing activities. LNG closed up on Thursday, September 5th 4.2 percent on 6.3 million shares.
Kinder Morgan, Inc.(NYSE: KMI) Construction of the approximately 141-mile, 16-inch diameter Parkway Pipeline, a 50-50 joint venture between Kinder Morgan Energy Partners, L.P. (KMP) and Valero Energy Corp (VLO), is complete and is now transporting refined petroleum products from refineries in Norco, La., to an existing petroleum transportation hub in Collins, Miss., owned by Plantation Pipe Line Company. (Kinder Morgan owns 51 percent of Plantation Pipe Line Company and operates the system.) From this hub the products will be transported by multiple pipeline systems, including Plantation, that serve major markets in the eastern United States. The approximately $250 million pipeline system has an initial capacity of 110,000 barrels per day (bpd) with the ability to expand to over 200,000 bpd.
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