PennEnergy's Oil & Gas Journal Equipment Exchange Facilitates Over $215 Million in Transactions Through November 2001.Business Editors/Energy Writers HOUSTON--(BUSINESS WIRE)--Dec. 17, 2001 Multiple Transactions of Over $10 Million Fuel Strong Results and Exceed Company Goals PennEnergy (www.PennEnergy.com), a leading global business-to-business Internet marketplace See vertical portal and Web hub. for the energy industry, announced today that its energy market exchange, Oil & Gas Journal Equipment Exchange, part of the Oil & Gas Journal Exchange (www.ogjexchange.com), has experienced exceptional transaction levels in 2001. Through November 2001, Oil & Gas Journal Equipment Exchange had facilitated global sales of over $215 million in surplus and used energy production and petroleum equipment. "The Equipment Exchange has been able to move against the market conditions of 2001, moving towards profitability much faster than expected," said Robert F. Biolchini, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of PennEnergy. "We see this rapid growth as a clear validation of our business model." Equipment Between January and November, the Oil & Gas Equipment Exchange helped facilitate the sale of major industrial energy production equipment, including: Frame 9 gas turbines, Frame 6B gas turbines, LM6000 gas turbines and significant numbers of smaller gas turbine generators and parts. Oil & Gas Journal Exchange also facilitated the sale of numerous capital equipment items, parts and subassemblies in the worldwide petroleum marketplace. When the Oil & Gas Journal Equipment Exchange was launched in June of 2000 the site had just over $20 million worth of energy equipment in its inventory. The service grew at an astronomical rate, ending 2000 year with over $850 million in equipment listings. The site currently holds over $2 billion in surplus and used equipment listings. Global Solution The Equipment Exchange has seen significant global traction during 2001. Buyers and sellers from North, Central and South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. , Europe, Asia and Australia have been linked in successful multi-million dollar capital equipment transactions. The Oil & Gas Journal Equipment Exchange has offices in Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the , Calgary, Canada; Dubai, United Arab Emirates United Arab Emirates, federation of sheikhdoms (2005 est. pop. 2,563,000), c.30,000 sq mi (77,700 sq km), SE Arabia, on the Persian Gulf and the Gulf of Oman. ; Caracas, Venezuela and Buenos Aires Buenos Aires (bwā`nəs ī`rēz, âr`ēz, Span. bwā`nōs ī`rās), city and federal district (1991 pop. , Argentina. This global presence allows for greater understanding of and access to regional markets. Global Equipment Trace Since introducing the Global Equipment Trace (GET) feature in May 2001, the Global Equipment Exchange has had over 4500 inquires requesting equipment made through the system. This sophisticated search engine allows a potential buyer, from anywhere in the world, to submit their project and equipment requirements and have the Equipment Exchange's international network of industry experts track down the most attractive possible offerings. Market Reach Buyers and Sellers of surplus and used capital equipment continue to turn to Oil & Gas Journal Exchange because of its unparalleled reach. OGJ OGJ Oil & Gas Journal Exchange has exclusive access to PennWell Corporation's leading industry events, publications and databases. Conferences including PowerGen International, PowerGen Asia, Latin American Power, PowerGen Europe, Offshore West Africa West Africa A region of western Africa between the Sahara Desert and the Gulf of Guinea. It was largely controlled by colonial powers until the 20th century. West African adj. & n. and Deep Offshore Technology allow Oil & Gas Journal Exchange's clients unparalleled access to industry decision-makers. Oil & Gas Journal Exchange also has exclusive access to buy/specify specific readers of Power Engineering, Power Engineering International, Oil & Gas Journal, Electric Light and Power and Offshore magazines. Motivated readers combined with more than 250,000 buy/specify segmented e-mail addresses See Internet address. e-mail address - electronic mail address allows highly target equipment marketing that no other exchange can offer. About Oil & Gas Journal Exchange PennEnergy's Oil & Gas Journal Exchange (www.OGJExchange.com) is the e-commerce and e-media portal for the global oil and gas market. The site is the leading centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. e-marketplace for industry professionals to conduct the online purchase and sale of oil and gas producing properties and exploration prospects as well as used and surplus petroleum equipment. The comprehensive suite of e-commerce and auction related products and services offered by Oil & Gas Journal Exchange will improve, expedite and bring greater efficiencies to the transaction process for the petroleum industry. Based in Houston, Texas, Oil & Gas Journal Exchange is comprised of Oil & Gas Journal Property Exchange, Oil & Gas Journal Equipment Exchange, and the e-media site Oil & Gas Journal Online. The Property Exchange is recognized as the most comprehensive online service for the upstream petroleum industry. It includes the full complement of advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal from Madison Energy Advisors, and offers its customers the greatest breadth and depth of acquisition and divestiture The breakup of AT&T. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). services in the market. Oil & Gas Journal Equipment Exchange links buyers and sellers of surplus and used oil and gas industry and power generation industry equipment on a global scale. Oil & Gas Journal Exchange also includes Oil & Gas Journal Online (www.OGJOnline.com), the preeminent online daily news and technology service. About PennEnergy, Inc. PennEnergy, Inc. is the leading global, business-to-business Internet marketplace for energy, the world's most critical and strategically important industry. This rapidly growing Internet company has capitalized on the use of electronic commerce, media and interactivity to build the most vibrant, neutral, and respected online communities for business and engineering professionals in oil and gas, electric power, and related energy markets. PennEnergy has developed state-of-the-art technology for its e-commerce and content communities including Ariba for its exchanges and Vignette Vignette A symbol or pictorial representation of the corporation on a stock certificate. Usually a complicated and artistic design, it is meant to make the counterfeiting of stock certificates as difficult as possible. for its content management needs. Its 100+ domestic employees work in Houston, Texas; Tulsa, Oklahoma Tulsa is the second-largest city in the state of Oklahoma and 45th-largest in the United States. With an estimated population of 382,872 in 2006,[1] it is the principal municipality of the Tulsa Metropolitan Statistical Area, a region of 897,752 residents projected to ; Forth Worth, Texas, and Durango, Colorado Durango (Navajo: Kinłání) is a city in La Plata County, Colorado (USA). According to 2006 Census Bureau estimates, the population of the city is 15,501.[5] It is the county seat of La Plata County. . PennEnergy has strategic international offices with employees located in London, England; Calgary, Canada; Internet City, Dubai; Buenos Aires, Argentina; Caracas, Venezuela and Singapore. PennEnergy has its headquarters in Houston, Texas. |
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