BOLERO RESOURCES CORP. announces today that the camp is now set up on Arcadia and drilling is about to commence. Bolero has the right to earn 50% of the Arcadia Property from Alix Resources Corp (AIX-TSX:V) (37N-FRANKFURT).
The Arcadia property represents an Archean lode-gold deposit located on the Arctic Ocean in Canada’s Nunavut territory, west [...]

Oil futures rose above $130 again, recovering from early losses as threats against Nigerian oil facilities led investors to at least temporarily set aside concern about falling U.S. gas demand.
Light, sweet crude for July delivery rose $2.18 to settle at $131.03 on the New York Mercantile Exchange, after spending the morning swinging between gains and [...]

StatoilHydro ASA says oil production resumed at the 160,000 barrel per day Statfjord A platform about 125 miles off Norway’s coast, four days after an oil leak forced a partial evacuation and shutdown.
Most of the platform’s 217 crew members were evacuated to nearby platforms by helicopter on Saturday when an oil storage tank began leaking [...]

Declining oil reserves and investment have forced Indonesia to quit the Organization of Petroleum Exporting Countries even as other members cash in on soaring global prices.
Indonesia is the region’s largest oil producer, but the nation of 235 million people has had to import for years because of aging wells and disappointing exploration efforts. A weak [...]

XTO Energy is acquiring oil producing properties and undeveloped land from Headington Oil for $1.85 billion in cash and stock.
XTO Energy Inc. will buy 352,000 acres of Bakken Shale land in Montana and North Dakota. XTO estimates there are 68 million barrels of oil equivalent in proved reserves on the land. The acquisition will increase [...]

Exxon Mobil chairman and CEO Rex Tillerson will keep both of his titles, as shareholders rejected a plan to split the top jobs at the oil company.
The plan to split Tillerson’s duties into two positions got only 39.5 percent of shareholders’ support at the company’s annual meeting in Houston. A similar vote last year failed [...]

A survey by MasterCard SpendingPulse shows retail gasoline demand at the pump last week rose 2.7 percent when compared with the week before. Looking at the comparable week a year ago, demand was down 5.5 percent.
The four-week moving average showed an even bigger decline in demand — down 6.3 percent from a year ago.
Survey author [...]

Western Standard Energy Corp., an oil and gas exploration company, is pleased to announce it has signed a Letter of Intent (‘LOI’) with Oil for America (‘OFA’) to option and acquire up to four additional Bakken and Lodgepole prospects on 1,280 acres in Stark County, North Dakota.
Depth of the Bakken objective in the area is [...]

Continental Resources, Inc. announced initial results from its Bice 1-29H well completed in the Three Forks/Sanish formation in the North Dakota Bakken Shale area. The Dunn County well, in which Continental has a 41% working interest, is the Company’s first well to be completed in the Three Forks/Sanish formation. Previous wells drilled by the Company [...]

XTO Energy says it is acquiring oil producing properties and undeveloped land from Headington Oil for $1.85 billion in cash and stock.
XTO Energy Inc. said Wednesday it will buy 352,000 acres of Bakken Shale land in Montana and North Dakota from privately held Headington Oil Co. XTO estimates there are 68 million barrels of oil [...]