Oil and gas company announcements: 2 September 2014

Aminex

The Board of Aminex plc has announced the appointment of Tom Mackay as a Non-Executive Director of the company with immediate effect. Mackay is a geologist/petroleum engineering with a successful career in petroleum operations, management and financing. With a BSc in geology from Durham University, he began his career as a petroleum engineer with Shell and moved to Clyde Petroleum PL where he became manager at Existing Ventures until it was acquired by Gulf Canada in 1997.

Caltex

Caltex Australia has donated US$ 10 000 of diesel to help fuel the trucks delivering hay to drought affected farmers across north west New South Wales this month. Australia’s leading fuel supplier is supporting a team of truck drivers led by Riverina based Brendan Farrell, who is arranging for 21 truckloads of donated hay to be hauled the 600 km from Darlington Point, near Griffith, to affected farmers in Brewarrina, Weilmoreingle and Lightning Ridge.

Farrell said, ‘local towns and communities right across Australia have been pitching in to help cover some of the operational costs, including the food bill. We’re doing this stuff off our own backs, it’s just me and 50 of my mates that drive trucks for a living, so Caltex’s donation of US$ 10 000 of diesel is a big boost. Any rain in these areas is excellent but the drought isn’t over, not by any stretch of the imagination. It will take much more than one rainfall event to turn things around for farmers, they still need our help and will for some time yet.’

Corac Group

Coract is pleased to announce that its subsidiary Hunt Thermal Technologies Ltd. (HTT) has received an order worth £ 900 000 from an international engineering, procurement and construction firm for six high intensity heat exchanger units. This project will deliver replacement exchangers to a UK downstream facility in early 2015 as part of a five year improvement programme on the site in preparation for increased oil production from the West of Shetland area.

Phil Cartmell, Chief Executive, Corac Group said, ‘this order is testament to the strength of HTT’s business and rewards the hard work undertaken to create a UK cantered competitive advantage in safety critical systems, HTT combines industry leading engineering standards with efficient fabrication and production and is now delivering the growth that we knew was possible. The recent number of new orders provides us with great confidence for the rest of this year and a springboard for further success in 2015.’

Hallador Energy Company

Hallador Energy Company has announced that its wholly owned subsidiary, Sunrise Coal LLC, closed the acquisition of Vectren Fuels. As previously announced on July 1, an agreement was reached on the sale, and 29 August represented the official closing of the transaction. The purchase price was US$ 320 million. On the same date the company entered into a credit agreement with PNC Bank as administrative agent for a group of several other banks. The credit agreement allows for US$ 250 million revolver and a US$ 175 million term loan. Considering the acquisition and the payment of bank fees, the company’s current debt is US$ 350 million. The credit facility is collateralised by substantially all of Sunrise Coal’s assets and they are the guarantor.

Wartsila

Wartsila Corporation has made the following appointments to its management:

• Rakesh Sarin has been appointed President of Power Plants, Executive Vice President and member of the Board of Management of Wartsila Corporation, effective September 1.
• Vesa Riihimaki has been appointed Vice President, Wartsila Quality, effective September 1.

Edited from press releases by Claira Lloyd

Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/02092014/oil-gas-company-announcements-2-sept/