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Sep 3, 2011 - Dear 3G means (3 Generation technology) is technology ki mad sy ap mobile k through voice or vedio chat karsakty ho. yani agar apky mobile ...
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PTA (Pakistan Telecommunication Authority) now decided to auction 3G License to 3 major companies Mobilink Telenor Zong. Because Zong is going to ...
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Jul 9, 2013 - 16 posts
it has been now a year since i moved back from england, but no luck so far with mobile connectivity. i am using telenor and edge internet is ...
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Scarlett Johansson Buys $2.2 Million Hampton Bay Mansion

Scarlett Johansson has bought a custom-built, 3,500-square foot shingled house in Amangansett, according to Zillow real estate blog.

The estate sits on 1.4 acres of land and shares a boundary with the Peconic Land Trust and Napeague State Park allowing for plenty of private acreage.

The four-bedroom, open floor plan space includes decks that expand the living space outside, along with a master suite featuring its own private balcony and fireplace. There are also three additional guest rooms each with their own balcony.

Last year the Her star sold her Hollywood Versailles Tower condo for $470,000.

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Sundance: Park City Real Estate Hits New Peaks

Inside a Stein Eriksen residence.

While the Sundance Film Festival is poised to turn Park City into a high-powered Hollywood scene for the next two weeks, the tiny town of 7,500 is in the midst of its own real estate boom, one that may have every other U.S. ski resort town beat.

“It’s popping again. Things are better than even at the peak of the market for luxury sales,” says Sotheby’s International Realty agent Paul Benson of the area where Katherine Heigl, Michael Jordan, and former Good Morning America host Charles Gibson own homes. “Not only are we getting buyers from all over the world who are attracted by residences like The Montage and St. Regis, we’re also starting to get year-round buyers. Lots of tech people are moving here for their primary residence. And in the actual town of Sundance where every other home is Hollywood owned, prices are back up to the $5-$10 million region.”

Among the area's high-end listings: John Schnatter’s 6,800-square-foot condo at the St. Regis. Schnatter, a real estate collector and owner of Papa Johns, put his mountain-facing spread on the market for $17.9 million. Michelle Eastman and Brigid Flint of Sotheby's International Realty hold the listing. 

Mitt Romney purchased a slope-side mansion in Deer Valley in late 2013. Listed at $8.9 million, the 9,000-square-foot, super-sized log cabin included six bedrooms and eight bathrooms – a suitable size for the politician and his wife’s 25 grandchildren.

“The Romney sale is indicative of the kind of action we’re seeing again,” says Keller Williams agent Steve Blankenship, who cites the $125-million Park City Film Studios, which broke ground in October of 2013, as another huge future boon to the residential real estate market. “Having sound stages and a film school right here in town could definitely bring in even more movie industry people,” says Blankenship, adding to current homeowners like Paramount CEO Brad Grey and Modern Family producer Steve Levitan. 

PHOTOS: 15 Films That May Spark Frenzy at Sundance

Not that every big-ticket listing is selling overnight. DreamWorks Animation CEO Jeffrey Katzenberg’s pine-and-granite house has been on the market since August 2012 with a $20.5 million price tag that hasn’t been reduced. “This isn’t a mainstream home,” says Benson. “It’s a unique property, but there will be a buyer, somewhere out there in the world, who just has to have it.”

Striking broader appeal, and debuting just in time for the Sundance scene, are the Stein Eriksen Residences, a set of 16 homes that will be priced from $2 - $7 million in Deer Valley. A model home will be open for the film festival. Built near the Stein Eriksen Lodge, which is frequented by Robert Redford and Ryan Reynolds, the homes give the rustic mountain look a contemporary upgrade, with clean lines, huge windows and modern décor.

The Colony at White Pines, however, offers the ultimate in high-end homes. The gated, heavily forested, community boasts some of the highest priced homes in the area, including one owned by Will Smith. “I think of these homes as mini ski-in/ski/out mini ranches,” says Erik Asarian of Keller Williams. “We currently have a home listing there for $24.6 million and overall it’s a hot market. Seven homes sold there in 2013, and we had 16 lot sales in the same year, up from eight lot sales in 2012 and six in 2011. This is the ultimate Industry hideaway. It’s our equivalent of beach front property in Malibu.”

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Reese Witherspoon, Ryan Phillippe Sell Shared Duplex

Reese Witherspoon and Ryan Phillippe have sold their shared investment property, a duplex in Los Angeles, for $1.44 million, according to Trulia real estate blog.

On Jan. 17, seven years after their divorce, they unloaded the duplex they still owned together. They originally purchased the home in October 2005 for $1.17 million and then listed the property in December 2013 for $1.395 million.

STORY: Robert Pattinson Sells Los Feliz Home for $6.37 Million 

Witherspoon and Phillippe made a profit of $266,500 on the sale of their two-unit remodeled property. Witherspoon also recently sold her Ojai estate where she married her husband, CAA agent Jim Toth. Originally asking for $10 million on the house, she ended up selling for $4.98 million after lowering the asking price twice.

Likewise, Phillippe saw a loss on his Sunset Strip mansion of $1.175 million in March 2013.

Mary Lu Tuthill of Coldwell Banker Brentwood was Reese and Ryan's listing agent for this deal, and Lisa Mansfield of Sotheby's International Realty represented the buyer.

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Snapchat Stays in Venice Office Longer Than 10 Seconds

Snapchat's Market Street expansion.

This story first appeared in the Feb. 7 issue of The Hollywood Reporter magazine.

Snapchat is laying down roots in Los Angeles.

Last year, the fast-rising photo messaging service (which turned down a $3 billion cash buyout offer from Facebook in November) signed leases on 6,000 square feet of office space on Market Street in Venice. Now the company has leased an additional 3,940 square feet on the same side of the street, according to sources close to the deal.

STORY: Silicon Beach Boom Hits the Playa Vista Housing Market

The two-story building, built in 1922 and located just a block from the beach, is owned by producer-director Tony Bill, who is said to originally have purchased the property back in the 1970s with earnings from The Sting, for which he shared a best picture Oscar with Michael and Julia Phillips. The ground floor of the building was an Aardvarks vintage clothing store until 2010 and, more recently, an art gallery.

The deal isn't the only way Snapchat is increasing its Venice footprint: In addition to the company's expanding Market Street presence, co-founder Bobby Murphy, 25, purchased a two-bedroom, Larry Scarpa-designed home nearby for $2.1 million in December. Bill and Snapchat did not return calls for comment.

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FormCap acquiring Cowley County prospect in Kansas

FormCap Corp. (OTCQB: FRMC) is making payments to Keta Oil & Gas and Kerr Energy toward the purchase of oil and gas exploration and development leases in Cowley County, Kansas. Formcap will pay Kerr and Keta $200 per acre for up to 2,400 acres of leases, at a cost not to exceed $480,000 (the purchase price) unless agreed otherwise by the company.

Formcap is evaluating a specific block of 875 acres (from the 2,400 acre total) of prospective oil leases to acquire from Kerr and Keta. The company will own 100% of the leases (80% net revenue to FormCap; 20% freehold royalty), and will be operator. FormCap will also have the option to purchase additional leases in Cowley County from Kerr and Keta under an Area of Mutual Interest, the terms of which are set forth in the agreement.

Per the agreement, FormCap is required to drill one well in each of the first two years of the lease term to maintain its interest in the leases, and will have the option to participate in the drilling of up to six exploration or development wells on lands currently owned by Keta and Kerr.

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Time Warner Nearing Sale of Manhattan Headquarters for $1.3 Billion (Report)

Time Warner is closing in on a deal to sell its midtown Manhattan headquarters to real estate firm Related Cos. for $1.3 billion, the Wall Street Journal reported Wednesday.

A sales agreement for the Time Warner Center, on whose construction the entertainment conglomerate spent around $520 million about a decade ago, could be announced as early as Thursday, it said.

A Time Warner representative declined to comment.

PHOTOS: From Huntington Palisades to Trousdale Estates: L.A.'s Top Microhoods

Sources have said that Time Warner has focused on a sale of its current building at Columbus Circle that would allow it to lease office space there for about five years before consolidating it's New York operations in a new building. It currently has seven different office locations in the Big Apple.

That building could be a new commercial tower that Related has been developing in the Hudson Yards neighborhood on Manhattan's far West Side, south of Times Square. The conglomerate is believed to have reached a tentative agreement to move into the 80-story skyscraper set to be built at the corner of 10th Avenue and 33rd Street. Other options include a new development on the site of the former World Trade Center.

Time Warner, led by chairman and CEO Jeff Bewkes, has been exploring its real estate options for about two and a half years in an effort to save money and consolidate the staff of its various operations. Most of its current New York leases are up in 2017.

STORY: Hollywood's Top 25 Real Estate Agents

The far West of Manhattan has cheaper real estate. Previous chatter was that TW could save as much as $100-million-plus by moving office space.

Related has offered to sell the new office space at cost to get TW as an anchor tenant, hoping to make money from the retail and residential parts of the real estate development, according to previous reports.

The Time Warner Center sale could be one of the biggest in a recent slew of commercial real estate deals in the U.S. that have relied on foreign investors.

Related is financing its bid for the Time Warner Center with backing from so-called sovereign-wealth funds from Abu Dhabi and Singapore, sources told the Journal. The Abu Dhabi Investment Authority and the Government of Singapore Investment Corp. would own most of the property venture, but Related would manage the building, the paper said.

E-mail: Georg.Szalai@THR.com
Twitter: @georgszalai

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Gazprom to launch commercial gas production from Kirinskoye field in 2014

The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company's Management Committee and Alexander Khoroshavin, Governor of the Sakhalin Region.

The meeting noted a significant amount of Gazprom's investments in the Sakhalin Region –the Company's capital investment in the Region exceeded RUB 250 billion over five years (between 2009 and 2013). The funds were mainly allocated to the following strategic projects of Gazprom: the construction of the Sakhalin – Khabarovsk – Vladivostok gas transmission system (GTS), pre-development of the Kirinskoye gas and condensate field (Sakhalin III) and construction of a gas pipeline from the onshore processing facility of the Kirinskoye field to the Sakhalin main compressor station of the Sakhalin – Khabarovsk – Vladivostok GTS. This year the capital investments will make up RUB 10 billion. The Kirinskoye field pre-development will continue, including the drilling of production wells. In 2014 Gazprom is going to launch commercial gas production from the Kirinskoye field.

Alexey Miller and Alexander Khoroshavin addressed the issues of gas supply to the Sakhalin Region. Between 2008 and 2013 the Company channeled over RUB 3 billion for these purposes. In particular, a General Scheme for Gas Supply to and Gasification of the Region was elaborated, three inter-settlement gas pipelines were built connecting the Dalneye gas distribution station (GDS) and the Yuzhno-Sakhalinsk CHPP-1, the Dalneye GDS and the Novo-Alexandrovsk settlement as well as the Novo-Alexandrovsk gas distribution point (GDP), the Klyuchi population center and the Sanatornoye population center. The Region's Government, in its turn, fulfilled its obligations to prepare the consumers for gas supplies. As a result, the gasification level of the Sakhalin Region (taking into consideration the consumers, who received thermal energy from gas-powered TPPs) increased by 24.5 per cent to 33.6 per cent.

In 2014 the Company will carry on the construction of the gas branch and the Nogliki GDS, as well as the inter-settlement gas pipelines connecting the Nogliki GDS with the Nogliki GDP and the Nogliki GDS with the Nysh settlement.

The meeting addressed the plans to create an NGV fuel market in the Sakhalin Region. It was noted that in 2014 Gazprom would build a CNG filling station in Yuzhno-Sakhalinsk, the first one in the region.

The parties touched upon the issues related to Gazprom's participation in social projects in the region. It was highlighted that the Company was running the Gazprom for Children project in the Sakhalin Region. Besides, in April 2013 Yuzhno-Sakhalinsk saw the inauguration of an ice palace constructed with Gazprom's assistance.

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Ashley Greene Buys; Kelly Osbourne and Jordana Brewster Sell Homes

Ashley Greene has just purchased a home in Beverly Hills, according to real estate web site Redfin. The Twilight actress paid $2.435 million for the 27,000-square-foot, Spanish style spread. Located behind a gated drive, the lushly planted property features a three-bedroom, three-bathroom home with beamed ceilings, plenty of skylights and a backyard pool.

Purple haired rock progeny Kelly Osbourne has listed her petite West Hollywood pad for $1.349 million, reports web site Trulia. The E! Fashion Police co-star is selling the one-bedroom, two-bath 1,250-square-footer that she purchased nine years ago for $1.195 million. Built in 1952 and designed by Robert Byrd, the home is perched in the hills and features city views. Jonah Wilson of Hilton and Hyland has the listing.

Jordana Brewster is also putting her place on the market. The Brazilian-American actress has listed her three-bedroom, four-bathroom home for $3.8 million, reports Trulia. Residential real estate ace Ellen DeGeneres had owned the gated, 2,868-square-foot retreat from 1999 until 2002. Wilson of Hilton and Hyland has the listing.

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Robert Pattinson Sells Los Feliz Home for $6.37 Million

Robert Pattinson has sold his Los Feliz gated estate for $6.375 million, reports real estate blog Trulia.

The actor purchased the 1922 home, designed by Stiles O. Clements (of the El Capitan Theatre) in September 2011 for $6.275 million. The three-bedroom, three-bath home melds plenty of original details with state-of-the-art technology updates.

STORY: Oprah Winfrey Lists Condo for $7.75 Million 

Sitting on a stunningly landscaped 1.5-acre lot, the estate comes with a long line of entertainment industry owners, including Tim Curry, Noah Wyle and cinematographer Robert Richardson.

The Twilight and Water for Elephants actor lived in the home with Twilight co-star Kristen Stewart until her affair with Snow White and the Hunstman director Rupert Sanders was revealed. Stewart then moved out of the house, followed by Pattinson, who rented in Beverly Hills.

The actor first listed the home for $6.75 million in October 2013, and early this year actor Jim Parsons (CBS’s The Big Bang Theory) and his partner, art director Todd Spiewak, purchased the estate. Property records show that the deal closed on Monday.

David Gray of Partners Trust Beverly Hills represented Pattinson in the sale and Ronald Shore of Keller Williams Coastal Properties was Parsons' agent.

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Mexico hydrocarbon undersecretary vows careful energy regulation, contract transparency

Mexico’s government realizes it’s crucial to establish competitive contract terms and effective, transparent regulations to attract international investors as Mexico implements its pending energy reforms, panelists told a Houston gathering on Feb. 7.

Lourdes Melgar, the new undersecretary of hydrocarbons for the Mexican Ministry of Energy, spoke to a seminar hosted by the University of Texas at Austin and the Atlantic Council in Houston on the day after she was named to her current post. Previously, she was undersecretary of electricity.

On Dec. 21, 2013, Mexico’s sweeping energy reform became law, representing a major overhaul of Mexico’s oil, gas, and electric industries.

Secondary legislation will stipulate contract logistics and tax reforms as Mexico ends the state-owned monopolies of oil company Petroleos Mexicanos (Pemex) and electric company Comision Federal de Electricidad (CFE). Secondary legislation is being drafted and discussed now.

Reforms pending

Having worked on the Mexican government’s energy reform team, Melgar noted that energy reform has been discussed for years in her country. She has held various positions in Mexico’s Foreign Service, including design work on international oil market strategy.

“It’s important to Mexico’s people to make sure we have financial transparency in every contract and bidding round,” Melgar said. Secondary legislation will outline the basics for the types of oil and gas exploration and production contracts, which will be flexible, she said.

Companies outside Pemex are to be allowed to participate in exploration and production activities, breaking the decades-old Pemex monopoly. The reforms also will allow direct private investment in Mexico’s midstream and downstream.

Melgar said Mexico expects to keep service contracts and to add profit-sharing contracts, production-sharing contracts, licenses, as well as enable a combination of various types of contracts. She told OGJ that it’s too early to know any contract specifics, and that contracts will vary widely.

“All hydrocarbons in the subsoil belong to Mexico,” Melgar said, confirming that energy reforms will enable companies outside Pemex to report oil and gas reserves on their accounting statements. “We want secondary laws that support the model the government has developed.”

Deadlines established

Mexico’s Congress has a deadline to approve these secondary laws by the end of April, she said, and the schedule calls for oil and gas bidding rounds to start around June 2015. Contract terms will be drafted carefully “to really attract the type of companies that we need,” in Mexico, she said.

Another speaker on the Feb. 7 Houston panel said Mexico could become a major oil supplier by 2022 if implementation of its energy reforms prove successful.

David Goldwyn, president of Goldwyn Global Strategies LLC and a former US State Department coordinator for international energy affairs, called Mexico’s energy reform “good timing for the rest of the world.”

Long-term opportunities for outside oil and gas companies in Mexico will involve the development of deepwater and unconventional gas plays, he said. For the near term, enhanced oil recovery technology and seismic analysis will be needed, he added.

Peter Schechter, Atlantic Council director of the Adrienne Latin American Center, said Latin America abounds with energy news although he noted, “No energy story in Latin America is more important than the Mexico story.”

US lawmakers in Washington, DC, closely are watching Mexico’s unfolding energy reform, he noted.

“Mexico is going to strengthen a North American energy market,” which means less reliance on Middle Eastern crude oil supplies, Schechter said. He noted that security concerns remain for outside investors.

Melgar acknowledged the security concerns, saying that her government is working to resolve these issues and also working to reassure potential international investors. “Security is an issue in some specific parts of the country,” she said.

"We expect these reforms to result in an increase of 1% to GDP by 2018,” Melgar told reporters in a news conference after the panel discussion. She said she was reluctant to discuss specific amounts yet, adding that Mexico’s economy is not equivalent to the US economy, making comparisons difficult.

Melgar said renewable energy will also be a priority for Mexico in the future.

Mexico seeks to reduce carbon emissions by 20% by 2020 and by 30% by 2050. Mexico also set a goal to reduce its reliance on fossil fuels to 65% by 2024, down from about 85% currently. Melgar noted that Mexico last year established a regime for trading carbon credits.

Separately from the panel discussion, Fitch Ratings issued a statement calling Mexico's energy reform “a long-term positive” for Mexico and Pemex credit quality.

“Fitch does not expect Pemex’s ratings to change due to the energy reform, but the company will benefit from the ability to find partners to share exploration risks and budgetary independence,” said Lucas Aristizabal of Fitch.

Contact Paula Dittrick at paulad@ogjonline.com.

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Real Estate Round-Up: Christina Ricci Lists; Robert Pattinson Sells; Jim Parsons Buys (and Lists)

Robert Pattinson's home was purchased by Jim Parsons.

Christina Ricci has listed her Los Feliz bungalow for $1.65 million, according to real estate blog Trulia. The actress purchased the 1,891-square-foot home in December of 2005 for $1.505 million. Located behind a gated driveway, the two-bedroom home -- featuring open-plan common areas, a covered patio and swimming pool -- was built in 1957.  Aileen Comora of The Agency holds the listing.

Robert Pattinson successfully sold his Los Feliz spread for $6.37 million. The actor purchased 1922 home, designed by Stile O. Clements (of the El Capitan Theater) in September of 2011 for $6.275 million and famously lived in the three-bedroom mansion with Kristen Stewart. David Gray of Partners Trust Beverly Hills represented Pattinson in the sale and Ronald Shore of Keller Williams Coastal Properties was the buyer’s agent.

STORY: Park City Real Estate Hits New Peaks 

The lucky buyer of the Pattinson home, which has been owned by Tim Curry, Noah Wyle and cinematographer Robert Richardson, was actor Jim Parsons, of CBS’s The Big Bang Theory.

Parsons and his art director partner Todd Spiewak, in turn put their Los Feliz hillside home on the market for $1.85 million, reports Trulia. The remodeled home, with three bedrooms and just over 2,800-square-feet of living space, is located just a few blocks from their newly purchased upgrade.

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Noble Energy signs MoU regarding Leviathan partnership

Noble Energy Inc. (NYSE: NBL) has signed a non-binding memorandum of understanding (MoU) regarding the sale of interest in the Leviathan licenses, offshore Israel, to Woodside Petroleum. Each of the existing Leviathan partners – Noble Energy, Delek Drilling, Avner Oil Exploration, and Ratio Oil Exploration – are participating as sellers of a 25% interest in the licenses to Woodside. Noble Energy will convey a 9.66% working interest and will continue as upstream operator with a 30% working interest. Following completion of the transaction, Woodside will become the operator of any LNG development of the field.

Total compensation to Noble Energy is anticipated to include $525 million in cash payments plus $502 million in shared future revenues. The initial cash payment of $390 million is payable at closing of the transaction, which is expected in 2014. The remaining cash amount of $135 million is due when a final investment decision is made in relation to an LNG or FLNG development or as regional export contracts are executed in excess of a threshold volume amount, whichever occurs earlier. The shared future revenue represents 5.75% of export revenue attributable to Woodside's net export sales, commencing once the gross exported volume from the Leviathan field exceeds 2.0 trillion cubic feet (Tcf) of natural gas. 

An additional payment of $19 million, net to Noble Energy, will be made should ultimate recoverable Leviathan resources be determined to be in excess of 20 Tcf gross of natural gas. The determination and payment will occur no earlier than when cumulative field production reaches 4 Tcf.  In addition, the sellers will receive a royalty of 2.5% of Woodside's future oil revenues associated with the deep Mesozoic, should a commercial discovery and development result on the licenses. The royalty would go into effect following net payout of investment.

The MoU includes the agreed-upon commercial terms of the farm-out transaction and sets the time frame for execution of definitive agreements. The Leviathan project is located on the Rachel and Amit licenses offshore Israel in 5,550 feet of water. It has an estimated 19 Tcf of discovered natural gas resources.

Following completion of the transaction, working interests in the Leviathan project will be Noble Energy (30%), Delek Drilling (16.94%), Avner Oil Exploration (16.94%), Woodside Petroleum (25%), and Ratio Oil Exploration (11.12%).

The deal is viewed as positive by Global Hunter Securities analyst Mike Kelly who says that Noble “fetches > $1B (vs. $802 MM previously expected) and gains a world-class partner on the LNG development front, bringing the Leviathan project closer to sanction.”

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Bob and Dolores Hope's Palm Springs Estate Gets a $16 Million Price Chop

The asking price of Bob and Dolores Hope's iconic Palm Springs estate has been dropped from $50 million to $34 million. The sprawling, 23,366-square-foot John Lautner-designed home originally came to market as a private listing in March of 2013 and was heralded as the desert's most expensive single-family home.   

Now the distinctive house, with its curved concrete lines, open courtyard and living room built to accommodate a boulder that juts into the room, will be listed on the Multiple Listing Service to attract a wider audience, according to The Desert Sun.    

STORY: Leonardo DiCaprio Sells Malibu Colony Spread for $17.35 Million 

Perched atop the Southridge neighborhood, the six-bedroom, 10-bathroom concrete, steel and glass house features indoor and outdoor pools, a tennis court, putting greens and murals by painter Garth Benton, who also created murals at the Getty Villa.

The home, which was used as a second residence by the Hopes, where they entertained frequently, was the largest residence ever designed and built by Lautner.

 Patrick Jordan and Stewart Smith of Windermere Real Estate in Palm Springs have the listing. 

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Itsa Energy acquired by Flow Data ownership group

Itsa Energy has been acquired by the ownership group of Flow Data, strategically positioning Itsa and Flow Data to support expansion of upstream and midstream service and solutions capabilities in the Texas oil and gas market. The alliance enhances both companies' existing abilities to drive service and automation technology as a total solution. 

Itsa Energy supports upstream and midstream automation, corporate systems, and enterprise solutions for oil and gas production and related operations.

Flow Data services and installs its product for upstream automation and control throughout North America. The company currently has operational facilities and field service teams in the Rockies, Williston Basin, Midcontinent, and Appalachian Basin regions. 

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Time Inc. Eyeing Move to Downtown Manhattan

Current corporate parent Time Warner will spin off Time Inc. and move to a new Manhattan building.

Time Inc., the magazine giant that Time Warner is planning to spin off later this year, is looking at leaving its headquarters at the Time & Life Building in midtown Manhattan to take advantage of lower rents in lower Manhattan, Bloomberg News reported, citing people familiar with the situation.

The largest U.S. magazine publisher, whose brands include Time, Sports Illustrated, People and Entertainment Weekly, has talked to real estate companies managing locations in the new World Trade Center complex and other downtown locations, as new CEO Joseph Ripp is looking to reduce costs, it said.

PHOTOS: Back to the Beach: Shorefront Real Estate Booms Once More

Time Inc. has been in its Avenue of the Americas headquarters near Rockefeller Center since the 1950s. Its lease expires in 2017. Time Warner itself recently unveiled a deal to move from its current headquarters in the Time Warner Center at Manhattan's Columbus Circle to a new Hudson Yards development slightly south of its current location.

Top office space in the current neighborhood of the Time Inc. headquarters costs an average of $82.35 per square foot late in 2013, compared with $53.79 for downtown areas, Bloomberg News said, citing data from real estate broker Cushman & Wakefield.

"We are currently exploring a number of real estate options," a Time Inc. spokeswoman confirmed.

Time Warner’s spinoff of Time Inc. will allow the entertainment conglomerate, led by CEO Jeff Bewkes, to focus on its cable networks and film businesses as the publishing arm has struggled amid changing consumer habits and lower advertising revenue in the digital age.

Conde Nast Publications has also agreed to leave midtown for lower Manhattan.

E-mail: Georg.Szalai@THR.com
Twitter: @georgszalai

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Senators ask EIA to study crude exports’ gasoline price effect

US Sens. Maria E. Cantwell (D-Wash.) and Ronald L. Wyden (D-Ore.) asked the US Energy Information Administration for more information on possible domestic gasoline price impacts from allowing more US crude oil to be exported.

“We would like to understand how allowing unlimited export of American crude oil might affect US oil production and consumption, nationally and regionally; domestic supplies and prices, nationally and regionally, for both crude oil (paid by refiners) and refined products (paid by consumers); and exports of refined products,” they said in a Feb. 3 letter to Adam Sieminski.

Cantwell, who is a senior Energy and Natural Resources Committee member, and Wyden, who chairs the committee, said they also would like EIA to identify transit modes and routes that exported crude might be expected to travel.

Contact Nick Snow at nicks@pennwell.com.

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Fiji Retreat Where Bill Gates, Jim Carrey and Celine Dion Stayed Hits the Market

Want to sleep where Bill Gates, Michelle Pfeiffer and Jim Carrey all relaxed? One of Fiji’s most luxurious properties will be auctioned off Friday, Feb. 7. Although the retreat was previously listed for $12.99 million with an additional guest residence also available for $6.99 million, the Concierge Auctions event will start with no reserve.

Named after the long-tailed birds that fly around the island, Lawedua is one of only five homes on Wakaya, the crown-jewel island owned by Fiji Water founder David Gilmore, who made the purchase in 1973. Perched high above white sand private beaches, the 10-acre estate is surrounded by a barrier reef that is designated as a protected marine reserve.

Designed by late Ski Lankan architect Geoffrey Bawa, the home is an example of “tropical modernism” where colonial architecture is fused with clean lines and open spaces, along with vaulted ceilings, bamboo details and matted walls.

Selling without reserve on Feb. 7, www.FijiLuxuryAuction.com.

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Residential Real Estate Firm Douglas Elliman Expands to Los Angeles

9440 Santa Monica Blvd., Beverly Hills

The Los Angeles real estate boom is attracting not only global buyers but real estate brokerages eager to get in on the market as well. Douglas Elliman Real Estate has announced its entrance into the Southern California market with plans to open offices in Beverly Hills by mid-March of this year.

The company is the largest residential brokerage firm in New York, with offices throughout New York City, Long Island, the Hamptons and South Florida. In total, more than 4,000 real estate agents work for the firm.

Elliman will launch its L.A. operations from 2,500-square-foot offices at 9440 Santa Monica Blvd. in Beverly Hills. Plans also include the rollout of additional Westside offices by the end of 2014.

STORY: Real Housewife Marisa Zanuck Opens Beverly Hills Real Estate Firm 

Real estate agents Tom Dunlap, who worked most recently as manager and executive vice president of John Aaroe Group, and Cory Weiss, who worked as a partner and director of Partner’s Trust, will head the office.  

“This company knows their clients and knows what type of agents they want and aren’t rushing this,” said Weiss, who is known for selling some of L.A.’s most architecturally significant homes, including landmark properties designed by John Lautner, Rudolph Schindler, Ray Kappe and Paul Williams.

And even though the offices have yet to open, the company already is trading in top-tier homes. "We have a major sale already under contract and an upcoming listing of one of L.A.’s most iconic architecturally significant houses," Weiss said.

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Murphy Oil makes new executive appointments

Murphy Oil Corp. (NYSE:MUR) has made a series of executive appointments, all effective immediately. Walter K. Compton has been promoted to executive vice president and general counsel. Kelli M. Hammock has been promoted to senior vice president of administration. John W. Dumas has been promoted to vice president of corporate insurance. Allan J. Misner has been promoted to vice president of internal audit. K. Todd Montgomery has been elected vice president of corporate planning and services, replacing Tom Mireles who has been promoted within Murphy Exploration & Production Co.

Compton joined the company’s law department in 1988 and was promoted to manager of law and corporate secretary in 1996. He was named vice president of law in 2009. In 2011, he was promoted to senior vice president and took on the role of general counsel. 

Hammock joined Murphy in 1993 as an associate accountant and subsequently received various promotions within the controller's department. In 2004, she was promoted to manager of purchasing and services in the administration department. Hammock was named general manager of administration in 2006 and was promoted to vice president of administration in 2009.

Dumas joined the company in 1988 as manager of corporate insurance. He was promoted to director of corporate insurance in 2005.

Misner joined Murphy in 2007 with over 22 years of experience in internal auditing. He is a certified public accountant, certified internal auditor, and certified information systems auditor.

Montgomery joined Murphy earlier this year and will oversee all corporate strategic planning, procurement, corporate reserves, and oil and gas marketing. He comes to Murphy with 25 years of experience from another major oil company. His experience includes global production and reservoir engineering, with management experience in development and strategic planning.  

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