Tag Archives: gulf of mexico

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Freeport-McMoRan Completes Acquisition in Gulf of Mexico

Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) announced that its oil and gas subsidiary, Freeport-McMoRan Oil & Gas (FM O&G), has completed the previously announced acquisition of certain part of Apache Corporation’s (Apache) (NYSE, Nasdaq: APA) interests in the Deepwater Gulf of Mexico (GOM).

Following the exercise of preferential purchase rights by other working interest owners in the Lucius project, FM O&G acquired for $919 million, 51.2% of Apache’s 11.7% working interest in the Lucius oil development project, 100% of Apache’s 12.5% working interest in the Heidelberg oil development project and several exploration leases. Following closing and the interim redetermination of equity ownership by the co-owners in the Lucius field, FM O&G owns an approximate 25.1% working interest in Lucius.

The Deepwater GOM acquisition was funded with proceeds from the previously reported sale of FM O&G’s Eagle Ford Shale assets, which closed on June 20, 2014. The estimated combined after-tax net proceeds from these transactions approximate $1.8 billion. On June 23, 2014, FCX announced that it will redeem in July 2014 approximately $1.7 billion aggregate face amount of senior notes with an average annual interest rate of approximately 6.6%.

FCX is a premier U.S.-based natural resources company with an industry-leading global portfolio of mineral assets, significant oil and gas resources and a growing production profile. FCX is the world’s largest publicly traded copper producer.

FCX’s portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world’s largest copper and gold deposits; significant mining operations in the Americas, including the large-scale Morenci minerals district in North America and the Cerro Verde operation in South America; the Tenke Fungurume minerals district in the Democratic Republic of Congo; and significant oil and natural gas assets in North America, including reserves in the Deepwater GOM, onshore and offshore California and in the Haynesville natural gas shale play, and an industry-leading position in the emerging shallow water Inboard Lower Tertiary/Cretaceous natural gas trend on the Shelf of the GOM and onshore in South Louisiana.

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Four Peaks Brewery Bringing Local Life to Tempe Oktoberfest

image001Tempe’s own Four Peaks Brewery takes front stage as title sponsor of the 41st Annual Oktoberfest October 11-13. Four Peaks Brewery and their award-winning beers and ales will help the Tempe Sister Cities organization to attract record crowds to Tempe Beach Park where music, food and great beer make for an event that you won’t want to miss.

Oktoberfest is a signature event in the city of Tempe that draws more than 150,000 attendees each year.

Look for Four Peaks Brewery to debut their new Oktoberfest Lager, a German influenced full-flavor lager that will pair well with the traditional Oktoberfest foods such as bratwurst, schnitzel and pretzels. On Friday, October 11 Tempe Mayor Mark Mitchell will kick off the festivities by ceremoniously tapping the first cask of Four Peaks Oktoberfest Lager.

In addition to the Oktoberfest Lager, Four Peaks Brewery will also serve the rest of their award winning lineup, including their Bavarian Hefeweizen as well as their crowd-pleasing Sunbru, 8th Street Ale, Kilt Lifter, Hop Knot, Peach Ale and Oatmeal Stout.

“Four Peaks is excited to support Tempe Sister Cities and one of the longest standing events in all of Arizona,” states co-owner Jim Scussel. “Our focus remains on Arizona, our customers and events which benefit worthy causes. We’re very excited about the partnership and potential it offers for both Four Peaks and our hometown.”

Oktoberfest attracts a wide range of attendees thanks to the great weather and many varied events. Children’s activities, live bands and a 5K fun run help to draw people from around the valley. Four Peaks Brewery will bring a true local flavor to the many beer tents while patrons celebrate the annual Bavarian ritual on the shores of Tempe Town Lake.

Admission to Oktoberfest is free. For more information go to tempeoktoberfest.com 

About Four Peaks Brewery
 
Four Peaks is an award-winning local brewing company that has been crafting a quality selection of staple and seasonal beers since 1996. They have received acknowledgement and praise for not only their ales, but also for their perfectly paired pub food offerings. There are 3 valley locations, and their craft beer can also be found at select establishments and supermarkets throughout the state of Arizona.
 
For more information, contact Greg Ross at greg@fourpeaks.com or visit www.fourpeaks.com

Oil Rigs supply our addiction to oil

Eating Organic, Kicking Our Oil Addiction, Solar Forestation And More

With so much going on in the green industry it’s hard to focus on just one topic. I’ve gathered stories about eating organic, kicking our oil addiction, solar forestation and more.

Cross-country road trip to conserve water
In an effort to educate the public about water conservancy, the Environmental Protection Agency is launching an educational cross-country road trip called “We’re for Water”.  The trip kicked off Wednesday, July 14, in Los Angeles and will end in New York on August 3.  National monuments including the world’s largest toilet are on the itinerary and contestants will be Tweeting and posting on Facebook their experiences along the way.

Is “solar forestation” the new trend in green living?
Mounting solar panels to the roofs of parking lot stalls in order to take advantage of the sun seems like an easy and productive idea.  However, much more planning goes into the carrying out of this idea than most people think.  One idea is to have solar panels that rotate to capture the sun’s rays or panels that are angled a certain direction.  An architect calls this “solar forestation”.

Kick your oil addiction
This blog, which comes in the wake of the Gulf of Mexico oil spill, details several ways the average person can kick their oil addiction.  But it’s not as easy as the patch or the gum.  Our oil addiction is engrained into our everyday lives in a way that’s going to be tough to kick.  Some of the solutions are no-brainers like walk and bike more, another solution is buying local.  Either way, if we want to kick our addiction to oil, it starts with us.

Easy way to eat organic, join an organic food club
This article is one piece in a 52-part series about ways for Arizonans to go green.  The list of organic food clubs is a little lacking but the idea is good.  Here’s another resource for finding organic food near you. www.organicstorelocator.com/all-arizona

The new superhero – No Impact Man
In a United States where oil seems to be on everyone’s mind, Colin Beavan – who usually goes by his alias No Impact Man – blogs about his choice to live greener and in an op-ed piece for the New York Daily News explains why all Americans are part of the problem.  However, Beavan has a tiny problem with the way the Daily News portrayed his opinions.  This post and the Daily News article will show you why Beavan thinks we’re all in this together.

50 Surprising Products Made From Oil

50 Surprising Products Made From Oil

With the ongoing oil spill crisis in the Gulf of Mexico being thrust into the national spotlight, I started thinking about how big a role oil really plays in our lives’.

Treehugger compiled a very interesting and surprising list of products that feature petroleum or its byproducts.

After reading through this list, I concluded that I’m absolutely surrounded by petroleum. The experience was certainly eye-opening for me, I had no idea that petroleum literally was seeping into nearly every aspect of our everyday existence. Stretchy jeans, shirts, running shoes, lip gloss — you name it. They all have petroleum! iPods, cell phones and even gum also have petroleum byproducts. The author of the post makes a good point, doesn’t this make you wonder what we ever did without petroleum?

Does knowing all this change your daily routine? Does it make you think twice about the cosmetics and products that you buy?

Source: www.treehugger.com

BP Oil Spill

Green News Roundup – Oil Spill In The Gulf Of Mexico, Eco Style

Welcome to our weekly green news roundup. This week we’ve gathered stories about green job growth, the oil spill in the Gulf of Mexico, eco style and more. Feel free to send along any stories you’d like to see in the roundup by e-mailing me at kasia@azbigmedia.com.

Green Jobs Slowly Ticking Upward
According to the NY Times Green Blog the green economy is growing, albeit slowly. Though green services and businesses accounted for 1 to 2 percent of the private business economy in 2007, there are many signs pointing to the number being on the rise.

Eco Style
Being “green” is becoming quite stylish. Art of Board, a design company based in Hannover, PA, has transformed discarded skateboard materials into a variety of unique design elements including household accessories, wall tiles and more.

BP Oil Spill in the Gulf of Mexico
The devastating oil spill in the Gulf of Mexico has captured the attention of the nation and the world. The Environmental Protection Agency has set up a special website to track progress and containment of the spill. A 100-ton containment structure will be placed over a blown-out oil well; the plan is to contain the biggest leak with the structure. Visit the site to get the most up-to-date information.

Sopping Up An Oil Slick With Castaway Hair
In order to protect coastlines from the approaching oil slick, containment booms are typically used to sop up the oil. However, an alternative source for the booms is something you probably wouldn’t think of — hair.

60-foot Vessel Sets Sail On an 11,000-mile Voyage
Sure sailing from the San Francisco Bay to Sydney, Australia isn’t that unusual. However, doing so on a boat made from recycled plastic bottles is! The aptly named “Plastiki” set sail on March 20. The goal of the voyage is to “call attention to environmental issues like bottled water and plastic waste.”  Solar panels and windmills power the vessel, and the crew stays in touch via Skype, Twitter, blogs and video updates. Life on a boat made from 12,000 reclaimed plastic bottles isn’t easy, but the crew is determined to finish their journey in a sustainable fashion.