Schlumberger partners with Canadian E&P co. to buy oil and gas assets for $1B

Posted October 19, 2017 by Silvia Zurita in Business, Business Valuation, Commercial, Construction, Construction News, Deepwater, Downstream, Energy, Engineering, Financial, Maritime, Midstream, Natural Gas, Offshore, Oil, Onshore, Petrochemical, Pipeline, Upstream, Valuation

Schlumberger Ltd. Chairman and CEO Paal Kibsgaard. FILE PHOTO   By Olivia Pulsinelli  –  Senior web editor, Houston Business Journal   Schlumberger Ltd. (NYSE: SLB), which has one of its principal offices in Houston, and Torxen Energy will buy assets in Alberta, Canada, from Cenovus Energy Inc. (NYSE: CVE) for about $1 billion. According... Read More »

How Technology-enabled Collaboration Will Streamline Engineering

Posted October 11, 2017 by Silvia Zurita in Business Valuation, Commercial, Construction, Construction News, Engineering, Financial, Valuation

Posted @ 10/6/2017 7:49 AM By Michael Gustafson on Construction Executive Magazine The work of fabrication companies forms the backbone of stadiums, skyscrapers and cities. But the real challenge these businesses face isn’t just creating and installing the puzzle pieces of these increasingly complex designs—it’s also managing the peaks and valleys of... Read More »

Research Team Tests Water to Gauge Chemical, Biological Impact after Harvey

Posted October 9, 2017 by Silvia Zurita in Business, Business Valuation, Commercial, Construction, Construction News, Downstream, Energy, Engineering, Financial, Infrastructure, Maritime, Midstream, Natural Gas, Offshore, Oil, Onshore, Petrochemical, Pipeline

GALVESTON - As the R/V Trident sped northwest through Galveston Bay, students and researchers from Texas A&M University's Galveston campus donned blue latex gloves and bright orange life vests, silently mouthing the words to Foreigner's "Cold As Ice" blaring over the boat's loud speakers. Just ahead was Morgan's Point, at... Read More »

Phillips 66 Partners makes $2.4B deal — Its Biggest Ever

Posted October 3, 2017 by Silvia Zurita in Business, Business Valuation, Commercial, Construction, Construction News, Energy, Engineering, Financial, Infrastructure, Oil, Onshore, Petrochemical, Pipeline

  The skinny Phillips 66 Partners LP (NYSE: PSXP) will buy more assets from Phillips 66 (NYSE: PSX) for $2.4 billion. The deal is expected to close in early October, and it's the largest acquisition the master limited partnership has made in its four-year history. The assets Phillips 66 is... Read More »

$60 Million Reconstruction Project to Start on SH 130

Posted September 27, 2017 by Silvia Zurita in Business, Business Valuation, Commercial, Construction, Construction News, Engineering, Financial, Infrastructure, Pipeline, Transportation

  General contractor Jordan Foster Construction will break ground on a $60 million reconstruction project next month on SH 130 to fix pavement problems and improve ride quality along the 41-mile roadway. “We’ve been seeing heaves in the roadway and some pretty significant cracking in the surface,” notes Andy Bailey,... Read More »

Magellan & Valero form JV to partner on $820M marine terminal near Houston

Posted September 25, 2017 by Silvia Zurita in Business, Business Valuation, Construction, Downstream, Energy, Engineering, Financial, Infrastructure, Midstream, Oil, Onshore, Petrochemical, Pipeline, Transportation, Valuation

The skinny Oklahoma-based Magellan Midstream Partners LP (NYSE: MMP) and San Antonio-based Valero Energy Corp. (NYSE: VLO) formed a 50-50 joint venture to own a previously announced marine terminal under construction in Pasadena. The partnership also announced an expansion of the project, which now is expected to cost $820 million combined, including the cost of land.... Read More »

US storms may delay project completions

Posted September 22, 2017 by Silvia Zurita in Business, Business Valuation, Commercial, Construction, Construction News, Downstream, Energy, Engineering, Financial, Infrastructure, Midstream, Natural Gas, Oil, Onshore, Petrochemical, Pipeline, Suppliers, Transportation, Valuation

Some petrochemical projects along the U.S. Gulf Coast may be delayed, but most energy and petrochemical players will go ahead with capital expansion plans, despite record damage from Hurricane Harvey driving up costs and slowing work, experts said. Some of the new ethylene units that were slated to come online... Read More »

Shale producers pumping more oil despite Hurricane Harvey’s impact on Eagle Ford

Posted September 20, 2017 by Silvia Zurita in Business, Business Valuation, Construction, Construction News, Deepwater, Downstream, Energy, Engineering, Financial, Maritime, Midstream, Offshore, Oil, Onshore, Pipeline, Shale, Upstream, Valuation

A floor hand works on an Eagle Ford Shale rig. BP's find produced more natural gas than Eagle Ford wells.   U.S. shale drillers are expected to pump more oil this month even though Hurricane Harvey crimped output in the Eagle Ford Shale in South Texas. In West Texas, oil... Read More »

Offshore drilling co. in Houston to restructure about $10B in debt

Posted September 13, 2017 by Silvia Zurita in Business, Business Valuation, Commercial, Construction News, Deepwater, Financial, Maritime, Offshore, Oil, Onshore, Petrochemical, Pipeline, Upstream

Seadrill Ltd. (NYSE: SDRL) and 85 affiliated debtors filed for Chapter 11 bankruptcy protection in Houston Sept. 12 as part of a restructuring plan. The company’s voluntary petition lists total assets of nearly $21.67 million and total debt of $11.6 million, as of Dec. 31. Seadrill plans to restructure about $10... Read More »

Flood Impact Lessons Vital for Next Construction Wave

Posted September 8, 2017 by Silvia Zurita in Business, Business Valuation, Commercial, Construction, Construction News, Downstream, Energy, Engineering, Financial, Infrastructure, Midstream, Oil, Petrochemical, Pipeline, Suppliers, Transportation, Valuation

Second wave construction, engineering and planning will begin earnestly in 2017, and learnings on areas such as storage, raw materials, supply chain and safety from the challenges caused by Hurricane Harvey should spur strategic decisions, analysts told Petrochemical Update. Allocations, force majeures, evacuations, explosions and fires at Texas chemical plants... Read More »