Finance/Companies news briefs, Dec. 6
Sinochem ... Tipperary ... Slough Estates USA ... WG Group ... Conoco ... Schlumberger ... Nation Energy ... ATOKA Coal Labs ... TIPM Laboratory
China National Chemicals Import & Export Corp. (Sinochem) is considering a share listing in Hong Kong Stock exchanges. Sinochem is in talks with several securities companies. Sinochem owns major oil storage and logistic infrastructures in Chinese coastal cities, especially in the east.
Tipperary Corp., an E&P company based in Denver, has completed a rights offering with net proceeds of $25.6 million. Approximately $17.5 million of the proceeds will be used to pay down debt held by Slough Estates USA Inc. Tipperary focuses on exploration for and production of coalbed methane and conventional natural gas.
Engineering and equipment entity UWG Group is restructuring its management team following the management buy-out of two of the company's shareholders, Richard Hall and Mark Boyd.
Conoco Inc. has awarded Schlumberger Ltd. a 6-year, $300 million contract to standardize and consolidate its global information technology infrastructure support services.
Nation Energy Inc., Vancouver, has arranged a private placement of 5 million shares at 20¢ (US)/share. Proceeds will be used for general working capital and to continue exploration in Alberta.
ATOKA Coal Labs LLC, Englewood, Colo., and TIPM Laboratory, Calgary, have formed an alliance to provide evaluation of coal bed methane resources.