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Governments of Russia and the USA signed an agreement on the cooperation in nuclear and energy research and development

On the 16th of September, 2013, in Vienna Sergey Kirienko, the Director General of the State Atomic Energy Corporation ROSATOM, and Ernest Moniz, the Secretary of the United States Department of Energy, on behalf of the governments of the two countries signed the Agreement between the Government of the Russian Federation and the Government of the United States of America Concerning the Cooperation in Nuclear and Energy Research and Development (R&D Agreement).

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SKF to acquire US-based Kaydon Corporation

SKF and Kaydon Corporation (NYSE:KDN) have agreed that SKF will acquire Kaydon in an all-cash transaction valued at approximately USD 1.25 billion, including USD 95 million of net debt. The transaction will be paid through existing cash and credit lines and will be accretive to SKF earnings in year one.

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North American Coal Corporation: Acquisition of Reed Companies

The North American Coal Corporation announced that it acquired, through a wholly owned subsidiary, four related companies - Reed Minerals, Inc., Reed Hauling Inc., C&H Mining Company, Inc. and Reed Management, L.L.C. - from members of and entities controlled by the Reed family. These companies, which will be known as Reed Minerals, are based in Jasper, Alabama and are involved in the mining of bituminous coal.

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Arch Coal Completes Sale of Canyon Fuel Subsidiary

Arch Coal, Inc. (NYSE:ACI) ("Arch") announced that it has completed the sale of its subsidiary, Canyon Fuel Company, LLC to Bowie Resources, LLC for $423 million in cash, which is inclusive of working capital adjustments. The sale includes the Sufco and Skyline longwall mines, the Dugout Canyon continuous miner operation and approximately 105 million tons of bituminous coal reserves, all located in Utah.

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Hazardmon.com – Site Monitoring and Maintenance for Dry Dusty Materials

It is well known that transporting dry dusty materials can create explosive atmospheres. Four conditions have to exist in order for the explosive state to occur. First of all there needs to be high concentration of dust, then there must be oxygen and there should also be an ignition source. If all of these appear in a confined space – an explosion will happen.

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Westmoreland Coal Reports Second Quarter 2013 Results

Westmoreland Coal Company (NasdaqGM:WLB) reported its second quarter results for 2013.

Highlights:

  • Q2 2013 revenues grew 22.4% to $162.5 million compared with $132.8 million in Q2 2012
  • Q2 2013 Adjusted EBITDA increased 119.2% to $32.0 million compared with $14.6 million in Q2 2012
  • Adjusted EBITDA for the twelve months ended June 30, 2013 increased to $121.2 million compared with$77.5 million for the twelve months ended June 30, 2012.
  • Q2 2013 net loss applicable to common shareholders decreased to $0.6 million from a loss of $12.4 million in Q2 2012
  • Net leverage ratio decreased to 2.47
  • 2013 Adjusted EBITDA and capital spending guidance reiterated
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Iluka: Quarterly Production Report 30 June 2013 - lower Production of Zircon and Rutils

  • Iluka’s combined production of zircon, rutile and synthetic rutile (Z/R/SR) in the June quarter was 127.2 thousand tonnes, 14.7 per cent higher than March 2013 quarter production of 110.9 thousand tonnes.
  • Z/R/SR production in the June 2013 quarter was 43.9 per cent lower than in the June 2012 quarter (226.8 thousand tonnes), while Iluka’s first half 2013 Z/R/SR production was 238.1 thousand tonnes, 46.3 per cent lower than the 443.8 thousand tonnes recorded in the first half of 2012. Lower production reflected completion, during the quarter, of Iluka’s previously announced operating adjustments to curtail output in response to lower demand, to facilitate a progressive draw down of finished goods inventory, as well as to reduce total operating costs.
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Bridger, LLC Partners with Riverstone Holdings LLC

Partnership Broadens Bridger’s Growth Objectives

Bridger, LLC, formerly Bridger Group, LLC, a crude oil marketing and midstream logistics company based in Dallas, Texas, announced that it has partnered with Riverstone Holdings LLC, an energy and power-focused private equity firm. Bridger’s management team and Riverstone have jointly committed to invest up to $300 million, building on Bridger’s operational and financial success and further fueling the company’s growth strategy. Bridger’s experienced management team consists of its founders, James Ballengee, Julio Rios and Jeremy Gamboa.

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Statoil takes over operatorship in Eagle Ford

Statoil announced that the company as of 1 July has assumed operatorship for all activities in the eastern part of its Eagle Ford asset in Texas.

"This is an important milestone for Statoil's development as an operator in the US," says senior vice president for US Onshore, Torstein Hole.

"We now have operational activities in all of our onshore assets—Bakken, Marcellus and Eagle Ford. Our organization in Houston is eager to further develop our Eagle Ford holding as operator and we look forward to engaging with communities and landowners in the eastern part of our joint venture acreage," he underlines.

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GE Completes Acquisition of Lufkin Industries

GE Oil & Gas (NYSE: GE) announced that it has completed its acquisition of Lufkin Industries, Inc., a leading provider of artificial lift technologies for the oil and gas industry and a manufacturer of industrial gears based in Lufkin, Texas, for approximately $3.3 billion. The move broadens GE Oil & Gas’ artificial lift capabilities with solutions for a wider variety of well types and technology for production automation and optimization in the drilling industry.

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