| Propel gets $10.9M for alt fuel pumps The Department of Energy and the California Energy Commission will furnish Propel Fuels with $10.9 million in grants to help it deploy its ethanol and biodiesel fueling pumps across California. feeds.bizjournals.com |
Newfield CFO Rathert unloads $1.1M in shares Newfield Exploration’s Chief Financial Officer Terry Rathert recently sold $1.1 million worth of the company’s stock, according to Barrons.com. (NFX) feeds.bizjournals.com |
Marcellus Shale tax passes in House The Pennsylvania House of Representatives voted to tax the extraction of Marcellus Shale gas at a rate of 39 cents per thousand cubic feet. The tax does not apply to low-producing wells. feeds.bizjournals.com |
Energy leaders say uncertainty in the market has capital on the ‘sidelines’ Lingering public perception woes after the BP oil spill, changing regulations and a lack of young talent are challenges the state’s oil and gas industry face every day, industry executives say. feeds.bizjournals.com |
Nabors 3Q2010 EPS Equals $0.29 From Continuing Operations, Excluding Acquisition Expenses and Certain Non-Cash Asset Impairments [PR Newswire] - Nabors Industries Ltd. today announced its results for the third quarter and nine months ended September 30, 2010.  Adjusted income derived from operating activities was $164.4 million for the third quarter, compared to $117.2 million in the third quarter of 2009 and $126.8 million in the second quarter of this year.  Excluding certain non-cash asset impairments and expenses related to the acquisition of Superior Well Services Inc., net income from continuing operations was $84.7 million for the third quarter, compared to $66.7 million in the third quarter of 2009 and $44.0 million in the second quarter of this year.  Including these charges, income from continuing operations was a loss of $31.6 million .  For the nine months ended September 30, 2010, adjusted income derived from operating activities was $433.0 million, compared to $395.9 million in 2009.  Net income from continuing operations, excluding the aforementioned items, was $172.2 million for the first nine months of 2010, compared to $349.3 million in the first nine months of 2009.  The excluded items during the quarter amounted to $134 million, or $0.40 per share, the largest component of which was impairments to goodwill and various underutilized assets primarily in the Company’s US Offshore operations.  The drilling slowdown following the Gulf of Mexico blowout is likely to restrict utilization of these assets for some time.  The impairments also included the writedown of an E&P investment.  Because most of the Company’s wholly owned and joint-venture interests in Canada and Colombia are being marketed for sale, their results have been classified as discontinued operations beginning this quarter.  us.rd.yahoo.com |