Oil & Gas Exploration and Production
UMW Oil & Gas Corporation Bhd:Says a subsidiary, UMW Offshore Drilling Sdn Bhd, has incorporated a subsidiary in Cayman Islands known as UMW Offshore Drilling Ltd.The intended principal activities of UODL are to carry out contract drilling operations and other engineering services for oil and gas exploration, development and production.
PTT Exploration and Production PCL:Announces that the company has established a subsidiary (PTTEP Treasury Center Company Limited) to operate as a Treasury Center.Says it has registered capital of 10 million Baht (THB), consisting of 1 million ordinary shares at 10 THB each, with 25 pct shareholding by PTTEP and the other 75 pct by PTTEP International Limited.
CAMAC Energy Inc:Will change its name to Erin Energy Corporation and will trade under the new ticker symbol 'ERN' on both the NYSE MKT and the Johannesburg Stock Exchange (the JSE).Shares will begin to trade under the new symbol at the opening of trading on April 23.
PT Medco Energi Internasional Tbk:Plans to build a 1600 MW power plant over the next two years-Investor Daily.The new power plant will be a gas-powered facility and will add to the 10 plants Medco operates in Java, Sumatra and Sulawesi islands.
Breitling Energy Corporation:Says formation of its Asset Management division as both a revenue center and a risk diversification strategy.Asset Management division consists of two sub-divisions: Portfolio Management, and Oil and Gas Management.Portfolio Management sub-division manages portfolios of royalty and non-operated working interests.This sub-division has existing industry partners that syndicate royalty and non-operated working interests to a network of institutional and qualified investors.Portfolio Management sub-division generates on-going revenue and increases reserve value through management fees, carried interests in the properties acquired and/or performance fees.To date, company has completed about $15 mln of acquisitions of royalty properties in Oklahoma and Texas.Company expects to continue growing revenue and reserves through its Portfolio Management sub-division throughout 2015.