December 2011

Edgen Group proposes public offering

Energy distributor Edgen Group Inc. has proposed an initial public offering (IPO), according to documents filed with the U.S. Securities and Exchange Commission (SEC).

US OCTG prices holding, but supply concerns linger

Oil country tubular goods (OCTG) tags should hold their ground going into the new year due to high oil prices and strong drilling activity on shale plays, market sources told AMM. Renewed demand for OCTG, however, may not be enough to curb a possible oversupply at domestic and foreign mills when buyers look to restock in 2012.

US OCTG prices holding, but supply concerns linger

Oil country tubular goods (OCTG) tags should hold their ground going into the new year due to high oil prices and strong drilling activity on shale plays, market sources told AMM. Renewed demand for OCTG, however, may not be enough to curb a possible oversupply at domestic and foreign mills when buyers look to restock in 2012.

US, Canada drilling slows

The number of drill rigs running in the United States fell by 11 last week, led by North Dakota (down seven).

NW Pipe reports errors in results again

Northwest Pipe Co. plans to restate its financial results again after discovering further errors in its accounting practices that could impact previously reported net income.

Enbridge gets OK for $176.6M pipeline

Enbridge Inc. has received approval to build a Canadian $180.1-million ($176.6-million) oil pipeline system to serve the Bakken Shale, according to Canadian regulators.

Enbridge gets OK for $176.6M pipeline

Enbridge Inc. has received approval to build a Canadian $180.1-million ($176.6-million) oil pipeline system to serve the Bakken Shale, according to Canadian regulators.

Keystone XL approval bill moves forward

The U.S. House of Representatives has voted to approve a two-month payroll tax cut bill that also includes provisions that would force President Obama to approve TransCanada Corp.’s Keystone XL project.

Energy firm to buy Marcellus system for $750M

Williams Partners LP has entered a deal to acquire the Marcellus Shale’s Laser Northeast Gathering System for about $750 million.

Yalian Steel posts second year of losses

As losses mount at Yalian Steel Corp., both the line pipe maker and its independent auditor, KPMG LLP, have raised questions about its ability to continue as a "going concern," according to company documents.