Port of Brownsville Connector Cleared
The South Port Connector Road Project received environmental clearance from the Texas Department of Transportation (TxDOT) Pharr District Office, advancing the project to the construction phase.The project is part of the Cameron County Regional Mobility Authority’s (CCRMA) East Loop Corridor plan. When complete, the South Port Connector Road will span two miles and will connect Ostos Road at the Port of Brownsville with State Highway 4.The project will enhance the port’s intermodal connectivity…
Kinder Morgan quits Crude Export Venture
Kinder Morgan Inc has dropped out of a recently proposed U.S. Gulf Coast deepwater crude export venture, the project's leader Enbridge Inc said on Monday.The $800 million project, known as Texas COLT, is one of eight similar projects proposing facilities that would move U.S. shale to overseas markets by loading supertankers able to carry up to 2 million barrels apiece.Pipeline operators Enbridge and Kinder Morgan disclosed plans to build an crude export terminal off Freeport, Texas, in January, and filed permit applications with the U.S. Maritime Administration.
US Oil Export Boom Sparks Battle to Build Texas Ports
Booming U.S. oil exports have set off a scramble to build Gulf Coast ports to handle more than 3 million barrels per day in new supplies expected over the next five years.Of seven proposed oil-export projects, nowhere is the opportunity greater or the competition more fierce than in Corpus Christi, Texas, where three firms are vying to open the state's first deepwater port.Commodities trader Trafigura has taken an early lead with a planned offshore facility that has an easier…
Moda Midstream Loads First Supertanker at South Texas Terminal
Moda Midstream LLC, owner of a U.S. Gulf Coast crude export terminal, on Thursday began partially loading the first supertanker at its Ingleside, Texas, facility, the company said.The Houston-based operator, which purchased the facility from Occidental Petroleum Corp. in August, recently installed equipment capable of loading up to 80,000 barrels of crude oil per hour onto Very Large Crude Carriers, or VLCCs, which carry up to 2 million barrels.At a depth of 47 feet, the waterway near the terminal is deep enough to allow the company to load only 1.2 million barrels onto supertankers.
Corpus Christi Gearing Up to Handle US Shale Export Boom
Port officials on Tuesday are expected to consider $300 million in financing that would prepare the country's largest oil-export port - Corpus Christi, Texas - to handle a surge in U.S. shale production over the next five years.International buyers would like more U.S. crude but are unable to get it because of infrastructure constraints along the U.S. Gulf Coast. Terminals originally designed for imports only recently have revamped operations to handle exports including accepting…
Buckeye Partners JV Announces Marine Terminal in Texas
Buckeye Partners announced the formation of a joint venture with Phillips 66 Partners and Andeavor to develop a new deep-water, open access marine terminal in Ingleside, Texas. The South Texas Gateway Terminal will be constructed on a 212 acre waterfront parcel at the mouth of Corpus Christi Bay. The facility is positioned to serve as the primary outlet for crude oil and condensate volumes delivered off of the planned Gray Oak pipeline from the Permian Basin. The terminal, to be constructed and operated by Buckeye…
The Port of Corpus Christi: Energy Port of the Americas
The Port of Corpus Christi lives up to its moniker ‘Energy Port of the Americas,’ as the movement of energy in and out dominates the port’s history and future. John P. LaRue, Executive Director, Port Corpus Christi recently visited Maritime Logistics Professional’s headquarters in New York City to discuss the nearly $50 billion in investment projects driving the port forward. “Let’s just start with what we are and what we are not,” said LaRue. “We are not a container port. Up until a few years ago we were an oil import port (serving) three refineries: Citgo, Valero and Flint Hills Resources.
Fugro Appoints Linck as Senior Consultant
Fugro has announced Joseph P. Linck, Jr. has joined Fugro as a Senior Consultant to represent our business development efforts in South Texas and in particular the Rio Grande Valley and the Corpus Christi areas. Linck brings to the position more than 30 years of professional experience, having served as past port director of the Port of Brownsville. After serving as port director, he designed, built and operated a dry bulk maritime terminal in Brownsville and later sold the terminal to a Fortune 300 corporation.
Schlumberger Debuts StingBlade Bit
Smith Bits, a Schlumberger company, announced today the introduction of StingBlade* conical diamond element bit. StingBlade bits increase run length and rate of penetration (ROP) while delivering improved steering response in directional applications. “In the continuous drive for increasing efficiency and lowering costs while drilling, our customers expect that each section is drilled from shoe to total depth with one drill bit at a high rate of penetration,” said Malcolm Theobald, president, Bits & Advanced Technologies, Schlumberger.
Circulation Solutions Promotes Two VPs
Circulation Solutions, LLC, a products company specializing in wellbore integrity, has promoted Zach Grichor to vice president of business development and Mark Laurent to vice president of operations. Grichor will remain in Houston where he will be responsible for all product research and development. He will also draft the company’s technical pieces, procedures, processes and marketing materials. Grichor will work alongside the sales team and continue to support the South Texas region. Grichor graduated from the University of Southern Alabama and Baroid-Halliburton Mud School.
US Tankers Built on Spec Face Choppy Waters
U.S. shipbuilders are making a $500 million bet on robust domestic demand for crude oil from newly-tapped shale fields by building new tankers without having lined up customers to lease them. Philly Tankers AS, majority-owned by Aker Philadelphia Shipyard is building four ships on spec, and Seabulk Tankers Inc, an indirect wholly-owned subsidiary of SEACOR Holdings Inc, is building another two. The 330,000-barrel ships, which cost about $125 million each, conform to the 1920 Jones Act, which requires ships moving between U.S.
Maritime & Offshore M&A
Workboat and offshore marine markets have been gaining strength over the past three years. A resurgence of oil production in the Gulf of Mexico has brought orders for new vessels, major oil companies are ramping up their presence in the region, and Gulf-oriented state governments are aligning to encourage offshore growth. Merger and Acquisition volumes have generally expanded in the US along with this growth as strategic companies seek to strengthen their positions in niche competencies (Figure 1).
Looper Reed Expands Services
Looper Reed & McGraw is pleased to announce the addition of Julia Palmer and Carrie Weitinger as Members and Shannon Thorne and Monika Moore as Associates to its Houston office. The addition of these four attorneys has added great depth to the firm's Admiralty, Onshore and Offshore Energy and Insurance Law Practices. Julia M. (Adams) Palmer, formerly Julia M. Adams, is an active member of the admiralty and energy bar. Her practice focuses on the representation of marine and energy interests, insurers, and insurance brokers.
China Buys into U.S. Energy Market
Chesapeake Energy and CNOOC Limited executed an agreement whereby CNOOC International Limited, a wholly-owned subsidiary of CNOOC Limited, will purchase a 33.3% undivided interest in Chesapeake’s 600,000 net oil and natural gas leasehold acres in the Eagle Ford Shale project in South Texas. The consideration for the sale will be $1.08 billion in cash at closing, subject to adjustment. In addition, CNOOC Limited has agreed to fund 75% of Chesapeake’s share of drilling and completion costs until an additional $1.08 billion has been paid, which Chesapeake expects to occur by year-end 2012.
Superior Energy President/CEO Wins Entrepreneurial Award
Superior Energy Services’ (Superior) President and CEO, David D. Dunlap, was honored as the 2013 Transformational CEO at the recent Ernst & Young Entrepreneur of the Year Awards Gala for the Gulf Coast Area. Dunlap joined Superior in 2010 and has helped to position the company for long-term growthby focusing on U.S. land expansion and international growth. Under Dunlap’s leadership, Superiorhas grown exponentially through a focus on exceeding customers’ expectations and strategic acquisitions…
22 Seaports to Receive AAPA Awards
The American Association of Port Authorities (AAPA), a trade group representing port authorities throughout the Western Hemisphere, has selected 22 seaports to be recognized for exemplary projects, programs and initiatives at its annual awards event later this summer. The awards, for achievements in facilities engineering, environmental improvement, information technology and communications, will be presented to winning ports at a Sept. 14 luncheon in conjunction with AAPA's 100th Annual Convention in Seattle (https://www.aapa2011.org/main.aspx), which runs Sept. 11-15.
Kirby Announces 2Q Results
Kirby Corporation (NYSE: KEX) announced net earnings attributable to Kirby for the second quarter ended June 30, 2011 of $41.7 million, or $.77 per share, compared with $29.3 million, or $.54 per share, for the 2010 second quarter. The 2011 second quarter results included an estimated $.07 per share negative impact from high water and flooding issues throughout the Mississippi River System. Consolidated revenues for the 2011 second quarter were $437.3 million compared with $273.7 million reported for the 2010 second quarter.
Kirby Expects Strong 3Q Earnings
Expected result compares with $.57 per share for the 2010 third quarter, fueled by continued strong inland marine transportation and land-based diesel engine services markets. Kirby to announce 2011 third quarter results on Wednesday, October 26, 2011, with conference call on Thursday, October 27, 2011. Kirby Corporation announced today that it expects its 2011 third quarter net earnings to exceed $.90 per share, above the top end of Kirby's earnings guidance of $.82 to $.87 per share, and substantially above 2010 third quarter earnings of $.57 per share.
VBR Names McCreary Sales Manager
Variable Bore Rams, Inc. (VBR), a global original equipment manufacturers (OEM) of blowout preventer components and ram provider, has named Cameron McCreary as sales account manager, announced President Hines M. "Chip" Marshall, Jr. Based in San Antonio, TX, McCreary will be responsible for expanding sales and revenue in the west and south Texas regions. He will establish productive, professional relationships with key personnel within his accounts while cultivating existing company relationships. McCreary’s role also requires management of tickets and invoices within his area.
Mease Named to Houston Port Commission
Roy Mease was appointed to the Port Commission of the Port of Houston Authority by the City of Pasadena today. Port Commissioners serve two-year terms without pay. Mease was named to the seat previously held by Steve Phelps. Phelps had served as Port Commissioner since 1997. Mease has a private law practice in Pasadena. A member of the State Bar of Texas, he received his Doctorate of Jurisprudence degree from the South Texas College of Law. Mease serves as chairman of the Pasadena Second Century Corporation, which is the city's economic development entity.
GOM Mission for New Research Ship
Schmidt Ocean Institute's 'R/V Falkor' to advance studies of artificial reefs, red tides & uncharted regions of the Gulf of Mexico. Scientists with the Harte Research Institute for Gulf of Mexico Studies (HRI) and the College of Science and Engineering at Texas A&M University-Corpus Christi will study the oceanography of the South Texas coast, including influences on the distribution of red tide while aboard the R/V Falkor later this month. The R/V Falkor is being provided by…
US LNG Exports: Pangea Project Gets Green Light
US Department of Energy grants Pangea LNG Project permission to export LNG from its South Texas LNG Project, Corpus Christi Bay. The U.S. Department of Energy has granted Pangea long-term, multi-contract authorization to export liquefied natural gas (LNG) to free trade agreement (FTA) nations. Pangea LNG will be authorized to export up to 8 million metric tons per annum (mtpa) of LNG produced from domestic gas fields for a 25-year term commencing on the date of its first export. That amount is equal to 1.09 Bcf/day of natural gas.