Cantium acquires Chevron assets
Cantium LLC, a privately owned independent oil and gas company backed by York Capital Management and Sole Source Capital, has acquired Chevron's Bay Marchand and Main Pass Gulf of Mexico assets.
The acquisition covers five fields on the Gulf of Mexico’s Outer continental shelf and in Louisiana state waters. The acquisition includes 300 active wells, 151 platforms, caissons and other offshore structures, along with the Port Fourchon onshore treatment plant. Field operations will continue to be based in Covington. Financial terms were not disclosed.
“This acquisition demonstrates Cantium’s commitment to reinvigorating the Gulf of Mexico’s Outer continental shelf. We are working with the Chevron team to ensure a smooth transition of operatorship, and we look forward to welcoming the Chevron employees joining our team of renowned global experts,” said Cantium's managing partners and founders Richard Kirkland, CEO, and Mark Ian Smithard, chief operating officer.
Cantium LLC is an operating oil company established in 2016. York Capital Management is an investment firm that was established in 1991 and manages over $16 billion, with primary offices in New York, London and Hong Kong. Sole Source Capital is an investment firm focused on special situations investments in the industrial, energy and materials sectors. The firm is headquartered in Los Angeles.
Accelerate Acadiana seeking La. companies
A group of business-growth organizations is offering small Louisiana companies, including those in the New Orleans area, a chance to take part in monthslong Accelerate Acadiana sessions, where they’ll meet potential investors and receive expert guidance.
The first session, which runs Aug. 14-Nov. 17, will concentrate on tech firms that are on the verge of success and in the energy and health care sectors. The deadline to sign up and compete for one of eight spots is July 30. Companies that are not chosen could be selected for the second session, which will start in January 2018.
Accelerate Acadiana will be facilitated by The Opportunity Machine, a business incubator in the Louisiana Immersive Technologies Enterprise in Lafayette. The sessions will take place at LITE.
“We’re looking for tech companies in the energy or health care space that have innovative products or services and want to take them to the next level,” said Zachary Barker, executive director of The Opportunity Machine.
The Accelerate Acadiana series was made possible by a $700,000 grant from the U.S. Department of Commerce’s Economic Development Administration. Pools of investment money will come from the grant and also investor cash. An additional $754,000 in program services and office space is being provided by University of Louisiana at Lafayette, The Opportunity Machine and INNOV8, a Community Foundation of Acadiana company.
Information on Accelerate Acadiana is at innov8acadiana.org under the 2017 Accelerate Acadiana tab.
Delek completes Alon acquisition
Delek US Holdings Inc. has completed its acquisition of Alon USA Energy Inc., which operates a refinery in Krotz Springs.
Delek had owned about 47 percent of Alon's common stock and acquired the remaining outstanding shares. Delek US is a downstream energy company with assets in petroleum refining and logistics.
Alon USA Energy Inc., headquartered in Dallas, is an independent refiner and marketer of petroleum products, operating primarily in the South Central, Southwestern and Western regions of the United States. Alon is the largest 7-Eleven licensee in the U.S. and operates about 300 convenience stores that also market motor fuels in Central and West Texas and New Mexico.
Sugar cane field day scheduled
The LSU AgCenter Sugar Research Station will host its 35th annual sugar cane field day on July 19 on La. 30 in St. Gabriel, 11 miles south of LSU Tiger Stadium.
Registration begins at 8 a.m., with field tours starting at 9 a.m. An indoor program will begin at 11 a.m. followed by lunch at noon.
Topics during the field tours include sugar cane variety development, insect pest management, disease control, weed control and soybeans in a sugar cane rotation.
Presentations following the field tour will include a sugar industry update; a report on Phragmites scale, a new insect threat; and an update on agriculture in Louisiana.
For information, contact Pat Bollich, resident director of the Sugar Research Station, at (225) 642-0224 or email@example.com.
Investar Bank opens Elmwood branch
Investar Bank has opened a branch in the Elmwood Business Park at 5360 Mounes St. in Elmwood.
The Jefferson Parish branch is the Baton Rouge-based bank's 12th location across south Louisiana and third in the greater New Orleans market, with two others in Metairie and Mandeville.
The 3,200-square-foot full-service branch employs eight staff members. It has a drive-through lane with an ATM. The branch manager is Sal Scardino.
Hours are 8:30 a.m. to 5 p.m. Monday through Friday.
CC's Denham location part of expansion
CC’s Coffee House plans to open a restaurant at 2200 S. Range Ave. in Denham Springs in the fall.
CC's said the expansion into Livingston Parish has been planned for some time. The location will be the first company-owned and -operated location opened since 2010. Over the past several years, CC’s Coffee House has expanded primarily through franchised locations across southeast Louisiana.
Earlier this year, the local family-owned brand announced its intention to triple its number of stores by 2020. It has 38 locations throughout Louisiana and Mississippi, with expansion planned in the Gulf South. In the next 12 months, CC’s will open additional locations in Broussard, Covington, Lake Charles, Lafayette, New Iberia, Pineville, Thibodaux and Zachary.
“This new location is just the first step in a long-term journey to rebuild our community and prepare it for the future. After the historic flooding in August 2016, we saw that some businesses were not able to reopen in the Denham Springs area. After careful consideration, it was clear that it was time to build here," said Celton Hayden Jr., CEO and president. "The city of Denham Springs can look forward to a large format store with ample seating and parking."
Dollar General opens in Denham Springs
Dollar General has opened a store at 2330 S. Range Ave., Suite A, in Denham Springs.
Dollar General sells national name brands and private brands of food, housewares, seasonal items, cleaning supplies, basic apparel and health/beauty products.
The chain's stores employ six to 10 people. Dollar General operates 13,320 stores in 43 states.
Tulane Health completes program
Physicians and information technology staff with Tulane Health System completed a pilot program with REACHnet, a Louisiana-based clinical data research network, that has streamlined the process of connecting patients with medical research projects.
The new program simplifies the process of mining patient data and automates the process of identifying likely candidates to participate in new and ongoing research studies. The eligibility criteria for many research studies is complex and can require inpatient and outpatient records, officials said.
“The usual process is to manually go through patient records and query the specifications for a given research study,” said Marlin Sams, senior director of information technology and services for Tulane Health System. “That could include things like diagnoses associated with ambulatory encounters, medications prescribed in an outpatient setting and cardiac events recorded in an inpatient setting.
“Collating that data was an extremely time-consuming process. Now, we’re able to automate that search and connect patients with studies in a fraction of the time while also freeing up staff to focus on other things.”
The pilot program, which took 18 months to complete, focused on five research projects at Tulane Health System. But its success has opened doors to other projects at Tulane, at other regional health care institutions and throughout the country, Sams said.
Leadership group plans 10-week series
The Young Leadership Council is accepting applications until July 31 for its Leadership Development Series, a 10-week course exclusively for YLC members.
The series teaches leadership skills for those interested in taking on leadership positions within the YLC and the community. Participants are selected through an application and review process.
Classes begin in early September and last through November. Applications and information are at ylcnola.org.