PRTODAY / NewswireToday Free press release distribution service network

More news: Energy
Written by / Agency / Source: General Electric Company

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

GE Unit Expands Oil and Gas Investing – Introduces Loans for Development Drilling - GE Energy Financial Services, a unit of GE (NYSE: GE), announced that it is expanding its oil and gas reserves investing business by offering loans for development drilling
GE Unit Expands Oil and Gas Investing – Introduces Loans for Development Drilling

 

NewswireToday - /newswire/ - Stamford, CT, United States, 2010/10/25 - GE Energy Financial Services, a unit of GE (NYSE: GE), announced that it is expanding its oil and gas reserves investing business by offering loans for development drilling. NYSE: GE

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

In its first transaction involving this new product, GE Energy Financial Services has made a loan to Knox Energy, Inc. -- an exploration and production company based in Columbus, Ohio -- for drilling natural gas wells in central Ohio.

Knox Energy will use the proceeds from the debt financing, for which financial details were not disclosed, to refinance its debt and provide capital to drill more shallow wells in a mature producing region.

“While we have offered reserves-based equity for more than a decade, this transaction with Knox Energy represents growth into a new area,” said John Schaeffer, Managing Director and head of the oil and gas unit at GE Energy Financial Services. “This new product offers producers the ability to more efficiently develop their assets in the current lower gas price environment.”

“This type of innovative financing allows us to expand our tight sands development drilling and to make future acquisitions,” said Mark Jordan, Knox Energy’s president.

Since 1991, GE Energy Financial Services’ Oil and Gas team has provided more than $3.5 billion in partnership equity for its independent private and public oil and gas partner-operators in the United States. Based in Stamford, Connecticut – with an office in Houston – the Oil and Gas unit is active in all major onshore basins and in shallow water Gulf of Mexico. Its 22 partnership investments own interests in more than 3,500 wells that produce an estimated 26,000 barrels of oil equivalent daily.

About GE Energy Financial Services
GE Energy Financial Services’ experts invest globally with a long-term view, backed by the best of GE’s technical know-how, financial strength and rigorous risk management, across the capital spectrum, in one of the world’s most capital-intensive industries, energy. GE Energy Financial Services (geenergyfinancialservices.com) helps its customers and GE grow through new investments, strong partnerships and optimization of its $21 billion in assets. GE Energy Financial Services is based in Stamford, Connecticut.

About GE
GE (ge.com) is a diversified infrastructure, finance and media company taking on the world’s toughest challenges. From aircraft engines and power generation to financial services, health care solutions, and television programming, GE operates in more than 100 countries and employs about 300,000 people worldwide.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: General Electric Company

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Energy articles,
CATCH Visitors via Your Competitors Announcements!


GE Unit Expands Oil and Gas Investing – Introduces Loans for Development Drilling

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

GE News Center |
Publisher Contact: Andy Katell - GE Energy Financial Services 
203-961-5773 andrew.katell[.]ge.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any General Electric Company securities in any jurisdiction including any other companies listed or named in this release.

Energy via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From General Electric Company / Company Profile


Read Energy Most Recent Related Newswires:

GE’s 9FA Advanced Gas Path Technology to Boost Efficiency at Shanghai Caojing’s Power Station
GE and Noble Corporation to Partner on the Digital Rig℠ Solution, Aiming to Deliver Significant Operational Productivity Gains across the Fleet
GE Renewable Energy to Supply 3 Haliade* Offshore Wind Turbines in China
GE and Sarawak Energy Sign Multiyear Deal in Malaysia for Tanjung Kidurong Power Station, Bintulu
GE Hitachi Nuclear Energy and Bechtel Form Decommissioning Alliance
GE Equips New 1,320 MW CPHGC Power Plant to Help Pakistan Meet Growing Energy Needs
SolarWinds Empowers IT Professionals with the Ultimate Hybrid IT Performance Management Platform
Invenergy Closes Purchase Agreement for the La Jacinta Solar Farm in Uruguay
ENGIE Acquires EV-Box - The Largest European Electric Vehicle Charging Player
GE Renewable Energy to Showcase Expertise in Hydropower At Africa 2017 In Marrakesh, Morocco
GE Awarded Contract for First HA Gas Turbine in China
GE Power Signs Multiyear Agreement and First Cybersecurity Solution in Latin America
GE Hitachi Nuclear Energy and ARC Nuclear Announce Cooperation to Accelerate Commercialization of Advanced Small Modular Reactor
Shermco Industries Receives Gold Safety Recognition from the American Wind Energy Association
GE’s Fuel-Flexible Power Plant Brings Vital Energy Boost to Ghana

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  La Bella Bakery Artisan Bakery Arizona

Visit  JobsWare.com





 
  ©2017 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)