Oil

Investors seek payoff from Indiana oil wells that big players ignore

January 25, 2014
Chris O'Malley
Indiana is experiencing a mini oil-boom, thanks to some big producers, but some small, private investors are also in on the game, through Indianapolis-based Midwest Energy Partners, formed four years ago by former CountryMark executive Bill Herrick.
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Calumet goes back to market with public offering

March 26, 2013
 IBJ Staff, Associated Press
The Indianapolis-based petroleum refiner plans to use proceeds from the 5.3 million unit stock offering for working capital, acquisitions and possibly the redemption or repurchase of debt.
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Indianapolis firm seeks oil in north-central Indiana

March 7, 2013
Associated Press
Indianapolis-based CountryMark hopes an Indiana oil field that once was the largest in the United States can be lucrative again.
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CountryMark paying $18 million for pollution controls

March 1, 2013
Associated Press
Government officials alleged Indianapolis-based CountryMark violated the law when the oil refiner expanded operations without obtaining proper permits and installing necessary pollution controls.
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Calumet Specialty buys Texas refinery for $115M

December 18, 2012
 IBJ Staff and Associated Press
Indianapolis-based Calumet Specialty Products Partners LP said Monday that it is buying NuStar's San Antonio, Texas, refinery assets for about $115 million.
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Midwest Energy oil firm drilling for $15MRestricted Content

December 8, 2012
Chris O'Malley
An Indianapolis investment advisory oil firm has been looking for blowouts in its own back yard. Midwest Energy Partners is preparing for its seventh—and largest—round of funding to pay for oil drilling in southwestern Indiana and southeastern Illinois.
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CountryMark buying oil, natural gas operations for $125 million

November 9, 2012
Scott Olson
Indianapolis-based CountryMark Cooperative Holding Corp. said Friday morning that it has agreed to pay $125 million to purchase a portion of the oil and natural gas operations of Continental Resources Inc. in Oklahoma City.
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Oil search planned at Indiana State campus

August 28, 2012
Associated Press
Terre Haute's public works board voted Monday to give permission for a Michigan company to begin seismic testing at several locations on university-owned property near the city's downtown.
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Refinery problems, spill drive up Great Lakes gas

August 3, 2012
Associated Press
Several Great Lakes states have seen prices surge about 40 cents per gallon in the last week. That follows a pipeline rupture and shutdown in Wisconsin and equipment problems at refineries in Indiana and Illinois.
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More oil exploration planned in western Indiana

July 12, 2012
Associated Press
An oil company is planning more drilling in western Indiana near where it made a large oil discovery last year on land owned by the Hulman family.
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Indiana oil production surges amid high prices

May 3, 2012
Chris O'Malley
Crude-oil production jumped 8.3 percent in Indiana in 2011, to just under 2 million barrels—the highest output in a decade, according to data from the Indiana Department of Natural Resources.
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Investors in Midwest Energy Partners await gusherRestricted Content

December 3, 2011
 IBJ Staff
The company raised $4.6 million to drill for oil in southwestern Indiana and southern Illinois.
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Indiana environmentalists wary of oil pipeline plan

October 25, 2011
Associated Press
The oil industry says a new oil pipeline from Canada to the Gulf Coast might create jobs for Indiana residents if the Obama administration approves its construction.
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Frontier Airlines cuts second-quarter capacity plans

March 7, 2011
Associated Press
Indianapolis-based Republic Airways Holdings Inc. said Monday that it is reducing growth plans for its Frontier Airlines unit because of uncertainty about future oil prices.
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Indy-based cooperative strikes oil at Terre Haute well

February 25, 2011
Associated Press
Indianapolis-based oil cooperative says it has made a "significant" oil find at a well site in western Indiana on property owned by the Hulman family.
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Oil, gas investment firm targets downstate potential

August 24, 2010
Chris O'Malley
Midwest Energy Partners will back two oil/gas producers. New technologies could stoke investor returns from wells in Illinois Basin, where production peaked decades ago.
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Illinois firm to build used oil plant in Speedway

July 17, 2010
 IBJ Staff
The $40 million project along West 10th Street could create 75 jobs by 2013.
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Environmental services firm to build $40M refinery

July 13, 2010
Kathleen McLaughlin
Heritage-Crystal Clean Inc. plans to build an oil re-refinery in Speedway, creating as many as 75 new jobs by 2013.
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CountryMark acquires oil wells in southern Indiana

May 12, 2010
J.K. Wall
Indianapolis-based CountryMark, a co-op that provides fuel to farmers, has acquired 600 oil wells and other assets in the Illinois basin.
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Reduced production drives Calumet to a loss

May 5, 2010
 IBJ Staff
High crude oil prices and lower production hurt the bottom line at Calumet Specialty Products Partners LP, which Wednesday reported a $13.1 million first-quarter loss. It posted a $75.6 million profit in the first three months of 2009.
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Oil companies drill in Indiana fields thought to be 'played out' a century agoRestricted Content

July 14, 2008
Chris O'Malley
Sky-high oil prices have rekindled an industry in east-central Indiana that many thought had run its course a century ago. A handful of wily prospectors motivated by oil prices approaching $150 a barrel are betting that's not the case.
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Franklin manufacturer benefits from high petroleum costsRestricted Content

August 14, 2006
Anthony Schoettle
Increased oil and natural gas prices are hammering many manufacturers, but Franklin-based Grimmer Industries Inc. is flying high. Grimmer specializes in making Hurricane brand air compressors and compressor boosters used in oil and natural gas well drilling and aggregate mining.
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