Wednesday PM February 16th, 2011

Houston-based Noble Energy says seismic data indicate a strong chance of a large natural gas find off the southeastern coast of Cyprus. Company vice president Terry Gerhart says his company hopes to begin drilling in a 1,250-square-mile area known as Block 12 in either the fourth quarter this year or the first quarter of next year. Cyprus licensed Noble Energy in 2007 to explore Block 12, which is near a field discovered off Israel that contains more than 450 billion cubic meters of natural gas.


Britain's High Court has ordered energy services contractor M.W. Kellogg — a British subsidiary of Houston’s Kellogg Brown and Root — to pay roughly $11 million in a civil settlement with the United Kingdom’s Serious Fraud Office. The case involved share dividends the subsidiary received on revenue from liquefied natural gas contracts obtained by bribery in Nigeria. The payment represents the dividends it received and the accrued interest. KBR has already reached a plea agreement with the U.S. Justice Department in the case.


Houston-based R360 Environmental Solutions has purchased an oilfield waste treatment facility from Cheyenne-based Western Environmental Services. The Silo Field facility will handle drilling waste including produced water and drilling mud. R360 says it is the only such facility in the Niobrara Shale Play. Petroleum companies have invested hundreds of millions of dollars in the play with the hope that new combinations of drilling techniques can unlock large amounts of oil from beneath eastern Wyoming and Colorado. The facility is 10 miles northeast of Cheyenne. R360 says it will expand the site from 10 to 122 acres.


More road improvements are planned for Dallas Love Field. The airport, which is home to Southwest Airlines, is preparing for roadway construction scheduled to begin in early March and done at night. Traffic is currently being rerouted as part of preparations. The Upper West Pedestrian Bridge connecting Parking Garage A and Terminal 2 will permanently close Monday in preparation for demolition.

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