TAC Energy Expands Supply Network

TAC Energy has acquired the wholesale fuels business of Tulsa-based Fuel Managers Inc. Terms of the sale between the privately held companies were not disclosed.
FMI, with offices at 10711 E. 11th St., will maintain its sales, operations and customer service staff. FMI operates in 18 states.
TAC Energy, the Texarkana, Texas-based division of Truman Arnold Cos., has had offices in Tulsa about 10 years and employs four people. With the recent purchase TAC plans to expand its offices at 3840 S. 103rd E. Ave., the company said in a statement.
The proactive move is part of TAC’s overall growth strategy, said Greg Arnold, president and CEO of TAC.
“With the integration of Fuel Manager’s key customer service personnel and current customer base with our nationwide wholesale operations, we can offer expanded supply and service options that will benefit both current and new customers,” said John Rettiger, TAC Energy vice president.
Todd Phillips, president and CEO of Fuel Managers, said the deal brings two of the largest wholesale distribution companies together.
“It will provide additional opportunities in the marketplace while adding technology and operational efficiencies to the new business,” Phillips said.
TAC Energy operates fuel terminals in North Little Rock, Ark., and Caddo Mills, Texas, with a combined capacity of more than one million barrels of storage and is a distributor of gasoline, aviation, diesel and biofuels in every state.
Chesapeake Skips New York
With more than enough drilling opportunities that await development in the Marcellus Shale, Chesapeake Energy Corp. confirmed it has “no intention” to drill natural gas wells in upstate New York’s watershed, which supplies water to nine million people, including New York City.
“Though Chesapeake believes it can drill safely in any watershed, including New York City’s as confirmed by New York’s Department of Environmental Conservation’s supplemental Generic Environmental Impact Statement, we have chosen to focus our efforts on more promising areas for gas development in the state,” said Aubrey K. McClendon, Chesapeake’s CEO, in a statement.
The company is the only leasehold owner in the New York City watershed, and that acreage was obtained as the result of leasing land outside the watershed, McClendon said.
Shale Drives Growth
Southwestern Energy Co.’s natural gas-weighted production in the third quarter jumped 38 percent from a year ago, driven by continued success in the Fayetteville Shale.
The increased output led the Houston-based independent to raise its production guidance for 2009 by 53 percent over 2008 levels.
Report: Energy Sector Threat
More than three quarters of the world’s oil and gas companies surveyed believe climate change could impact their business, increasing downtime, system failures and safety. However, only 19 percent are taking action, according to an Acclimatise report sponsored by IBM.
The report suggests the energy industry is rapidly approaching a critical stage of development. As demand is growing from new requirements such as electric vehicles, increased cooling during warmer summer months and rapid urbanization, utilities need to attract new financial investment to grow existing capabilities and develop emerging technologies in a low-carbon way.  

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