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Sikorsky Aircraft receives contract for MH-60 naval helicopters

Sikorsky Aircraft receives contract for MH-60 naval helicopters

Business
Aug. 17 (UPI) -- Sikorsky Aircraft in Stratford, Conn., has received a $ 9.7 million order against a previous agreement for service life analysis of MH-60 Sierra aircraft. The order provides engineering necessary for fatigue analysis to define the expected service life of the MH-60 Sierra Multi-Mission Helicopter. Work will be performed in Stratford and is expected to be completed in January 2022. Navy fiscal 2018 research, development, test and evaluation funds in the amount of $ 2.6 million will be obligated at time of award. The MH-60S Sierra is a modification of the standard Blackhawk medium transport helicopter. It has been designated the Knighthawk. It is designed specifically for amphibious assault operations but it fulfills multi-role operational capabilities. It has been in servi...
New cash will fund Canadian shale operations

New cash will fund Canadian shale operations

Business
Aug. 17 (UPI) -- Australian energy company Calima said Friday that investment interest was strong enough to support a robust drilling campaign in a Canadian shale basin. In an emailed statement, the company said it was oversubscribed in a share placement, taking in $ 18.1 million (USD) that it would use to fund operations in the Montney shale basin in western Canada. "Proceeds from the placement will be used by Calima to drill and test three wells on the Calima lands within the Montney," Alan Stein, the managing director for Calima Energy, said. The company said it's uncovered more than 500 drilling sites near its acreage that revealed promise for a hydraulic fracturing campaign in the Montney shale basin in British Columbia. Advances in horizontal drilling and hydraulic fracturing, or f...
TOTE Services contracted for SBX-1 ballistic missile tracking radar

TOTE Services contracted for SBX-1 ballistic missile tracking radar

Business
Aug. 16 (UPI) -- TOTE Services of Jacksonville, Fla., has received an $ 11 million contract for operation and maintenance of the Sea-Based X-Band Radar vessel. The contract, announced Wednesday by the Department of Defense, will last one year with four-and-a-half years worth of possible options, which could bring the cumulative value of this contract to $ 65.3 million, the Pentagon said. Work will be conducted at sea-based positions across the world and is expected to be completed by September 2019. If the options are exercised, the program will continue through March 2024. Working capital funds will be issued for the contract depending on availability. The SBX-1 is a large sea-based radar system designed for mobile long-range detection of ballistic missiles by the Missile Defense Agency....
Good results from U.S. offshore auction, but expectations low

Good results from U.S. offshore auction, but expectations low

Business
Aug. 16 (UPI) -- Results from a U.S. auction for drilling rights in the Gulf of Mexico showed companies are willing to spend again, but expectations were low, experts said. An auction Wednesday for rights to drill into the U.S. waters of the Gulf of Mexico secured $ 178.1 million in high bids from 29 different companies. That's an increase of 43 percent from the last lease sale in March. William Turner, a research analyst at consultant group Wood Mackenzie, said less acreage was on the auction block and the industry didn't get an incentive from lower royalty rates like they wanted so expectations were low. "However, with an increase in competitive bids and dollar amount from the last round, companies demonstrated their continued confidence in the region," he said in a research note emaile...
RBS bankers 'joked about ruining US housing market'

RBS bankers 'joked about ruining US housing market'

Business
Royal Bank of Scotland (RBS) traders compared their behaviour to gangsters in "Goodfellas" and joked about ruining the US housing market in the run up to the financial crisis, it has been claimed. A US Department of Justice report into the mis-selling of mortgage-backed securities before the 2008 banking collapse details bankers and traders' apparent disregard over their contribution to the global monetary meltdown.It was published alongside the announcement that RBS had agreed to pay $ 4.9bn (£3.6bn) to settle the DoJ's probe.RBS chief executive Ross McEwan said there was "no place for the sort of unacceptable behaviour alleged by the DoJ at the bank we are building today".While the DoJ accused RBS of misleading and providing inaccurate loan data to investors, RBS sai...