Energy Business Recap: Chevron & Transocean APPEAL Ruling, Anadarko GOES To South Africa

Chevron Corp. (NYSE:CVX) has appealed an injunction that disallows it and its drilling contractor Transocean Ltd (NYSE:RIG) from operating in Brazil pending civil and criminal charges over an oil spill last November, according to Reuters. Additionally, Chevron wants to restart its drilling at the field, which has been offline since March.

Don’t Miss: Are Central Banks Still Hoarding Gold?

Boardwalk Pipeline Partners LP (NYSE:BWP) and Boardwalk Pipelines Holding, which is a division of the former’s general partner, Loews Corporation (NYSE:L), are creating a joint venture to purchase pipeline company PL Midstream for $625 million. The acquisition is from the closely held PL Logistics, which marks the joint venture’s entrance into the natural gas liquids sector. The venture split will be defined by Boardwalk Partners owning 33 percent, Boardwalk Holding 67 percent.

Ion Geophysical Corporation (NYSE:IO) promises to follow all legal options subsequent to a district court jury in Texas deciding that it must pay $105.9 million in damages to geophysical services provider WesternGeco, for infringing patents linked to control systems for marine seismic streamer steering devices.

Anadarko Petroleum Corporation (NYSE:APC) and South Africa’s PetroSA reach a farm-in agreement for exploration of oil and gas that lie in blocks off the coast of South Africa. The former professes to like the country as it offers frontier acreage and the possibility of growing a business if the exploration venture is successful. Anadarko will hold an 80 percent interest in the blocks and will also serve as operator.

Investing Insights: Gold and Silver Hold Steady Through Market Noise.

Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.