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Such a condition is called a split estate. Once severed from surface ownership, oil and gas rights may be bought, sold, or transferred, like other real estate property. Ownership in the oil and gas rights for different horizontal layers, or strata, may be further divided and sold to different parties.
Building contingencies into the contract: Most real estate contracts have contingencies that give sellers cause to back out. For instance, the seller may say they will only sell their property if ...
Little was known of Burt Refining's origins other than George A. Burts was the owner and was rumored to have been an agent of John D. Rockefeller. [5] In 1909, the State of Texas seized the refinery as an illegal affiliate of Standard Oil and sold in an auction to Magnolia Petroleum Co. [ 5 ] The refinery became Texas's third largest by 1920 ...
Getty Oil Company was an American oil marketing ... after entering into a binding agreement to sell Getty and its 2.3 ... only some of the refineries changed hands ...
The company's Global Engineering and Construction Group designs and constructs leading-edge processing facilities for the upstream oil and gas, LNG and gas-to-liquids, refining, chemicals and ...
For more than 100 years, the Wilmington and Carson oil refineries have pumped out millions of barrels of gasoline, filling the thirsty cars of Southern California's freeway-driving motorists.
Nov. 24—A senior executive is stepping down from the Long Beach-based company trying to convert a former oil refinery on Rosedale Highway into a renewable diesel plant. Global Clean Energy ...
In September 2010, Petroplus announced plans to sell its 32.62 percent stake to its partners for $91 million as PBF acquired the Paulsboro refinery from Valero Energy. [7] [8] PBF then acquired the Toledo refinery from Sunoco in December 2010 for approximately $400 million. [9] PBF went public in December 2012 with a $533 million initial public ...