GreenHunter Resources Inc. of Grapevine has appointed Ronald (Ron) McClung as its new senior vice president and chief financial officer effective Sept. 1. “We have been most impressed with not only Ron’s past accomplishments that notably include the successful integration of numerous acquisitions and recruitment … but also his strong integrity and work ethic,” said president, chief operating officer and interim CEO Jonathan D. Hoopes in a news release. McClung has more than 25 years of experience in audit, treasury, risk management and other areas. His career began as an audit manager at public accounting firms KPMG and Robinson, Burdette, Martin & Cowan LLP. He also served as CFO with Basic Energy Services Inc. of Fort Worth and as a corporate controller at Key Energy Services Inc. Most recently, McClung was corporate controller for Patterson-UTI Energy Inc., an oil and gas well drilling and pressure-pumping services company. GreenHunter Resources Inc. is a diversified renewable energy company focused primarily on water resource management in oil and shale resource plays. More information is available at www.greenhunterenergy.com.
Fluor to begin constructing Va. power station Fluor Corp. of Irving has received approval from Dominion Virginia Power to begin building the company’s new 1,358-megawatt, natural gas-fueled power station in Brunswick County, Va. “Fluor is pleased that the project has received the approval from the Virginia State Corporation Commission to move forward with construction,” said Matt McSorley, senior vice president and head of Fluor’s power segment, in a news release. The Brunswick County Power Station is expected to begin providing commercial service in the summer of 2016. Fluor Corp. employs more than 41,000 employees and provides engineering, construction, maintenance and other services for companies in energy, government, industrial, mining, transportation and other sectors. More information is available at www.fluor.com.
Halliburton, Gazprom Neft in technology cooperation agreement Halliburton Co. of Houston has entered into an agreement with Russian oil producer Gazprom Neft to provide new technologies for improving operational efficiency in Gazprom Neft fields.“The strategic objective of Gazprom Neft is to increase hydrocarbon production to 100 million tons of oil equivalent by 2020,” said Vadim Yakovlev, Gazprom Neft’s first deputy general director, commenting in a news release. The company expects more than half of its oil to be produced using such technologies. Gazprom Neft specialists will provide Halliburton with updated data on implementation of specific projects and Halliburton experts will offer technological solutions. Halliburton provides products and services to the energy industry. Its more than 75,000 employees serve the upstream oil and gas industry in finding hydrocarbons, drilling and formation evaluation and well construction, among other services. More information is available at www.halliburton.com.
ConocoPhillips announces sale of Trinidad and Tobago asset ConocoPhillips of Houston has closed a $600 million transaction with the National Gas Co. of Trinidad and Tobago Ltd. for the sale of its wholly owned subsidiary, Trinidad and Tobago Holdings LLC. “The sale of this non-core, midstream asset represents further progress in strengthening and focusing the ConocoPhillips portfolio and advances the strategic interests of both [National Gas Co.] and ConocoPhillips,” said Don Wallette, executive vice president of ConocoPhillips commercial, business development and corporate planning, commenting in a news release. ConocoPhillips anticipates an after-tax gain of about $290 million for the sale. ConocoPhillips is the world’s largest independent exploration and production company based on production and proved reserves. As of June 30 it had operations and activities in 30 countries, $55 billion in annual revenue, $117 billion in total assets and about 17,500 employees. More information is available at www.conocophillips.com.
Parsley Energy of Midland closes on $65M deal Parsley Energy LLC has closed on a $65 million preferred equity investment by Natural Gas Partners. “Parsley is very excited about our new partnership with NGP,” said founder and CEO Bryan Sheffield in a news release. When Parsley was founded in 2008, it was financed through development packages with individual working interest owners. As it grew, the company obtained debt financing from partners Western National Bank and Chambers Energy Capital.n
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