Chicago-based private equity firm Core Industrial Partners has acquired Summit Tooling, Inc. and Summit Plastics Inc. of McHenry, Ill., for its portfolio company Fathom. Fathom provides on-demand manufacturing with more than 100 industrial-grade 3D printing machines in its national footprint. Founded in 1996, Summit serves long-time customers in the medical and packaging markets with mold
Read More...Royal Dutch Shell Plc’s profit last year dropped to its lowest in at least two decades as the coronavirus pandemic hit energy demand worldwide though the company’s retail network and trading business helped cushion the blow. The Anglo-Dutch oil major’s annual profit slumped 71% to $4.8 billion as its oil and gas production and profits
Read More...U.S. shale oil and gas producer Chesapeake Energy Corp. plans to cut 15% of its workforce, an email sent to employees revealed, as it closes on new financing that will allow it to emerge from bankruptcy court protection next week. Once the second-largest U.S. natural gas producer, Chesapeake was felled by a long slide in
Read More...How E&P Companies Can Increase Frontline Safety It’s time to make real progress on digital transformation efforts within the oil and gas industry, starting with frontline workers—the essential employees at the highest risk, says Cristian Grossmann, CEO and co-founder of Beekeeper. This post appeared first on Hart Energy.
Read More...Amid mounting criticisms of President Biden’s executive order last week indefinitely halting new oil and natural gas leases on federal lands and waters, leaders across party aisles are concerned the executive order will jeopardize critical funding for states. That’s especially true for New Mexico, which accounts for nearly 60 percent of federal onshore oil production.
Read More...Materials maker Ineos Styrolution has struck a joint development agreement with technology firm Polystyvert to improve recycling of polystyrene. Montreal-based Polystyvert uses a patented dissolution technology to process PS waste into high-quality recycled PS, officials said in a Feb. 2 news release. The method takes plastic waste in its solid form and dissolves it in
Read More...Inpex Corp. agreed to beef up its holdings in the U.S. Gulf of Mexico in a recent transaction with Exxon Mobil Corp. Japan’s largest exploration and production company, Inpex said in a Feb. 2 release it had acquired a portion (2.3546%) of the participating interest (23.29512%) in the Lucius and Hadrian North fields previously held
Read More...Additive manufacturer 3D Systems Inc. is investing $13 million to expand its headquarters operations in Rock Hill, S.C., by 100,000 square feet as it follows a plan to increase manufacturing and material development capabilities. The expansion is expected to create 50 new jobs over the next five years at what it says is the largest
Read More...The U.S. Supreme Court on Feb. 3 agreed to hear a bid by a consortium of energy companies seeking to seize land owned by the state of New Jersey to build a $1 billion natural gas pipeline. The justices agreed to take up an appeal by PennEast Pipeline Co. LLC, a joint venture backed by
Read More...OPEC+ maintained its oil output policy at a meeting on Feb. 3, a sign producers are happy that their deep supply cuts are draining inventories despite an uncertain outlook for a recovery in demand as the pandemic lingers. A Joint Ministerial Monitoring Committee of OPEC and allies, known as OPEC+, is “optimistic for [a] year
Read More...The U.S. Senate Energy Committee voted 13-4 on Feb. 3 to approve the nomination of former Michigan Governor Jennifer Granholm to head the Energy Department. Granholm, 61, wants to steer the department to help the U.S. compete with China on electric vehicles (EVs) and green technologies like advanced batteries and solar and wind power. When
Read More...Longtime injection molding sales executive Don Ashleigh died Jan. 2 from COVID-19 complications. He was 80. Ashleigh, whose first name was Frank but went by Don, worked for injection molder Universal Plastic Mold Inc. of Baldwin Park, Calif., for more than 50 years, serving most of that time as vice president of sales. Ashleigh was
Read More...Mussolente, Italy — Trinseo has expanded its thermoplastic elastomers research and development center in Mussolente, Italy. The project is part of wider growth strategy to develop Trinseo’s portfolio of custom engineered TPE, thermoplastic urethanes and bioplastics. The R&D unit is led by Marco Meneghetti, global TPE T&I leader. It supports Trinseo’s two manufacturing sites for
Read More...Here’s a snapshot of recent energy deals including a $420 million acquisition of Grenadier Energy Partner properties in the Midland Basin by Surge Energy plus Tailwater Capital’s acquisition of Tall Oak II, III from EnCap Flatrock Midstream and the closing of a $58 million acquisition by Contango Oil & Gas of assets in the Big
Read More...Location/Play Seller Agent BidDue Date TX, Jack, Montague & Wise Cos. MORE Undisclosed EnergyNet 2/3/21 TX, Jack, Montague & Wise Cos. MORE Undisclosed EnergyNet 2/3/21 TX (Permian Basin; Eagle Ford; Haynesville Shale) MORE Undisclosed RedOaks Energy Advisors LLC 2/4/21 Offshore LA (US GoM) MORE 31 Offshore LLC EnergyNet 2/10/21 CO, NM, ND & TX MORE Strategic Pipeline
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