– Pacific Energy Partners LP
said its subsidiary signed an agreement with Frontier Oil Corp. to construct a new crude oil pipeline system in Wyoming in exchange for a 10-year commitment from Frontier to ship 35,000 barrels per day to support the project. The Long Beach-based oil distributor’s Rocky Mountain Pipeline System LLC will build the pipeline from Guernsey to Cheyenne, Wyo., and will also lease to Frontier approximately 300,000 barrels of storage capacity at Fort Laramie, a tank facility that is part of the new pipeline.
Construction will begin in the second quarter and should be completed in the second quarter of 2007. The project is expected to cost $59 million $31 million to be spent in 2006 and the remaining $28 million to be spent in 2007. The initial capacity will be 55,000 barrels per day, which can be expanded to a capacity of 90,000 barrels per day.
– IRIS International Inc.
acquired Leucadia Technologies Inc., a San Diego-based molecular diagnostics company, for $10.1 million. Terms of the acquisition include a cash payment of $3.1 million and about $7 million in IRIS common stock. The acquisition for the Chatsworth-based manufacturer of IVD urinalysis systems brings with it diagnostic products that include applications for breast cancer and HIV, which are seen as beneficial as IRIS taps into the $1.5 billion molecular diagnostics market, one of the most profitable IVD segments, IRIS said in a statement.
– Jacobs Engineering Group Inc.
said its Canadian subsidiary acquired Techna-West Engineering Limited, an Edmonton, Alberta, Canada-based engineering firm that operates in the public and private sectors. Terms of the deal were not disclosed. Founded in 1977, Techna-West emerged as an industrial service supplier for clients such as Suncor, Syncrude and Petro-Canada, and evolved to offer capabilities in many engineering disciplines on projects throughout North and South America and Europe. Jacobs said the acquisition will expand its presence in the region to support key oil and gas clients.
