Compressco funds expansion
Compressco Partners LP has borrowed $4.25 million under its revolving credit facility to fund the ongoing expansion of its fleet of compressor units in the United States and Canada. The company cited increased demand for its oil and natural gas production enhancement services in a Thursday regulatory filing on the move.
OCCC plans oil-field safety class
Oklahoma City Community College will host programs on oil-field safety and the fundamentals of artificial lift systems next month. The latest SafeLand USA Awareness class is set for April 9 and April 17. The class, which covers safety issues specific to the oil and natural gas industry, costs $150 per participant. The artificial lift program offered by OCCC's Professional Development Institute will be April 16 and 18. The six-hour course, which costs $395, will focus on four lift systems. Participants will receive a certificate of completion. For more information or to enroll, contact John Clabon at 682-7855 or firstname.lastname@example.org.
CAVU to bring more wells online
TULSA — CAVU Resources Inc. is close to bringing production on line in Garvin County's Chisholm Field after reworking five wells with new equipment. The wells are expected to be completed over the next six weeks, the company announced this week. “This will bring production from the project up to an estimated 39 barrels of oil per day,” President William Robinson said. “In the very near future we will complete the re-entry and preparation work on two more wells, as part of our ongoing plan to rebuild production and revenues from this field. We are estimating that the remaining wells to be reworked will bring in an additional 100 barrels day in production.”
Oversight sought after spills
SALT LAKE CITY — A series of spills from ruptured pipelines operated by Chevron Corp. has Utah's governor calling for more oversight. Gov. Gary Herbert left no doubt about his displeasure Thursday when asked about the latest spill at a monthly televised news conference. He said the federal agency responsible for interstate pipelines isn't doing its job and that Utah will step up its own efforts to ensure pipeline safety. The pipeline ruptured last week at Willard Bay State Park, spilling diesel fuel into marshes. It was Chevron's third pipeline leak in Utah in the last three years. Another pipeline leak sent crude oil rushing into a Salt Lake City creek in 2010. Months later, the same pipeline ruptured again. Each pipeline leak involved a spill of 21,000 or more gallons on crude oil or fuel.
Chevron, Exxon bid in Lebanon
BEIRUT — Lebanon's Energy Ministry says 50 companies have participated in a prequalification process to win licenses for oil and gas work off the Lebanese coast. The ministry says the companies include Chevron and Exxon Mobil Corp. from the United States and Royal Dutch Shell PLC. Lebanon is a resource-poor nation and any finds could help it pay off what is one of the highest debt rates in the world. The names of winning companies will be announced on April. 18. Recent Israeli discoveries of oil and gas have raised tensions between Lebanon and neighboring Israel, which are in a state of war. Both countries claim a small maritime area of 328 square miles in the Mediterranean.
From Staff and Wire Reports