Oil and gas industry announcements: 9 February 2015

American Energy

Maas Companies of Rochester Minnesota are to auction off American Energy Producers’ US$60 million biodiesel facility on March 10. The auction will be held offsite at the Rupe Community Center at 710 Harvest Hills Drive, Carrollton, Montana, with live and internet bidding. The plant includes a partially completed 60 million gal./y biodiesel plant on 508 acres, with plans to add a 35 million bushel/y soybean processing facility. The real estate will be sold in tracts or as an entirety. The more than 300 equipment lots will be sold piecemeal, following the real estate.

BG Group

BG Group plc has announced that Helge Lund will join the company as Chief Executive and Executive Director with effect 9 February. This is ahead of the previously announced start date of 2 March. The date has been brought forward following agreement last week from his former employer to release him from his contractual agreements.

Epi-V

John Hutchinson, Managing Partner, Epi-V has said the following on safe guarding North Sea jobs. “With some commentators suggesting North Sea oil production faces being wiped out its even more important that the Chancellor acts on cutting taxes. If the jobs of the 450 000 who work in the North Sea and the 1.4 million bpd that is produced are to be safeguarded what the Chancellor is reported to be considering should only be the starting point. With ageing fields and continually rising production costs combined with what could be a more long lasting low oil price environment, the Chancellor could well be forced to act again either by cutting taxes further or introducing other incentives for drillers to keep the wells pumping.”

Ivanhoe Energy

Ivanhoe Energy Inc., has received a letter, dated February 3 2015, from the Listing Qualifications Department of the NASDAQ Stock Market indicating that following the resignation of Robert Pirraglia from the company’s board of directors on January 18, 2015, as disclosed in the company’s January 19, 2015 news release, the company fails to comply with Listing Rule 5605. Listing Rule 5605 requires a listed company to have an audit committee comprised of at least three independent members. Pirraglia’s resignation reduced the number of independent directors ton the company’s audit committee from three to two.

LAR

The Supervisory Board of LAR Process Analysers AG has appointed Oliver Rothe as a new member of the board. As of January 1, 2015, he is responsible for LAR’s Global Sales activities taking over also the responsibility for all international subsidies and shareholdings. Rothe has been in charge of LAR’s export business since he joined the company in December 2013.

NGL

NGL Energy Partners LP has entered into a definitive purchase agreement with Magnum Development LLC, a portfolio company of Haddington Ventures LLC, and other Haddington sponsored investment entities to acquire Magnum NGLs, LLC. Magnum owns and operates a NGL storage facility with multiple existing salt caverns and a potential capacity of over 10 million bbls. The facility is strategically located southwest of Salt Lake City, Utah with rail and truck access to Western US markets. This acquisition will enhance NGL’s existing asset footprint to better support Western US customers, while increasing the partnership’s fee based revenue stream from current and future contracts on the facility.

Smith Flow Control

Smith Flow Control (SFC) has announced the appointment of Triton Engineering as its distributor in Aberdeen, Scotland. Triton is a specialist provider of engineering consultancy services to the upstream oil and gas sector, with its core business being pipelines and risers. The company’s expertise ranges from FEED studies, including risk based decision making, through to delivery management, integrity management and ongoing operational support and related site services.


Edited from press releases by Claira Lloyd

Published on 09/02/2015


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