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Tag Archives: Connecticut

Littlejohn & Co. purchase Houston energy maintenance company

pump jack

Littlejohn & Co. LLC, a Connecticut-based private equity firm that focuses on midmarket turnarounds, announced that it will be purchasing the Houston-based PSC Industrial Holdings Corp. from Lindsay Goldberg LLC., a private equity firm out of New York. Financial details for the acquisition were not revealed. According to Suzanne Edwards of the Houston Business Journal, “PSC specializes in maintenance services ...

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Philadelphia’s plan to sell gas utility is dead

PHILADELPHIA — City Council members are effectively killing the proposed sale of Philadelphia’s gas utility to a Connecticut company, saying the risks of the deal outweighed the benefits to utility customers and the city. Council president Darrell Clarke said there was “no appetite” for the proposed $1.86 billion sale of Philadelphia Gas Works to UIL Holdings Corp., which required approval ...

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This week’s top energy jobs

Peter Hobbs | Breaking Energy The energy industry – oil & gas sector in particular – is bracing itself for a massive wave of retirements over the short to medium term, which has been dubbed “The Great Shift Change.” As the industry prepares for this turnover, companies are looking to the next generation of candidates with skills ranging from finance, ...

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Oil bull Hall’s fund up 20 percent at half-year, outpacing rivals

NEW YORK (Reuters) – Famed oil trader Andy Hall’s more than $3 billion hedge fund was up nearly 20 percent at the half-year mark, sharply outpacing its rivals in one of the best performances of its seven-year history, data obtained by Reuters showed on Thursday. The feat came as Occidental Petroleum Corp, which owns 20 percent of Hall’s Westport, Connecticut-based ...

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Obama opens Eastern Seaboard to oil exploration

Jason Dearen ST. AUGUSTINE BEACH, Fla. (AP) — The Obama administration is reopening the Eastern Seaboard to offshore oil and gas exploration, announcing final approval Friday of sonic cannons that can pinpoint energy deposits deep beneath the ocean floor. The decision promises to create plenty of jobs and thrills the oil industry, but dismays environmentalists worried about the immediate impact ...

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Lessons Learned: The Big Blackout of 2003 Still Draws Attention to Reliability

blackout

Conor O’Sullivan | Breaking Energy On a hot day in August 2003, a high-voltage transmission line failed in Ohio, followed by a series of failures on other vital lines over the next two hours. As the massive power flows sought a path of least resistance, they overloaded other high-voltage lines and the time intervals became shorter between each subsequent failure. ...

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GE 2Q profit jumps 13 pct on aviation, oil and gas

Jonathan Fahey | The Associated Press NEW YORK — General Electric’s net income rose 13 percent in the second quarter on strong performance from its aviation and oil and gas divisions. The company said orders, especially those in developing countries, were strong and that the global economic environment continues to be positive. GE also said that its previously announced plan ...

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