RedHawk Energy Acquires Xxtreme Group for $66.0 Million
RedHawk Energy Corporation announced that it has acquired 100% of the membership interests of Texas-based Xxtreme Pipe Services, LLC, Xxtreme Pipe Storage, LLC, Xxtreme Tubular Processors, LLC and Wolf Pack Rentals, L.L.C. (collectively, the “Xxtreme Group”) for $66.0 million in cash, preferred stock and assumed debt. The purchase price is subject to certain post-closing adjustments. Headquartered...
Trans Energy Completes First Horizontal Well in Marcellus Shale
Trans Energy, Inc. announced that it has completed its Hart #28H well in Wetzel County, West Virginia. The Hart #28H was drilled and completed horizontally in the Marcellus shale, a prolific new “resource play” in Appalachia, similar to the Barnett, Fayetteville and Haynesville shales in Texas, Arkansas and Louisiana. The well is purging water used in the frac process and was turned in...
Mammoth Energy Group Announces Results of First Well in Pawnee County, OK
Mammoth Energy Group, Inc. announced the results from the first well in its 8 well project located near the Arkansas River in Pawnee County, Oklahoma. This first well was drilled to a depth of 1688′ and had commercially viable amounts of oil in the Layton from 1542′ to 1551′. The well was acidized and treated before being completed for production in this interval. Due to a backlog...
Atlas Oil and Gas Announces Results of Second Well in Pawnee County, OK
Atlas Oil and Gas, Inc. announced the results from its second well in its 8 well project located near the Arkansas River in Pawnee County, Oklahoma. The first well that was put into production earlier this week had an initial rate of about 20 barrels of oil per day (BOPD) from a shallow zone at 1550′. Management believes this rate will continue to increase, especially once electric is run to...
Three Forks/Sanish Well Produces Over 1,750 Barrels A Day
XTO Energy Inc. announced production results from wells drilled in multiple regions on its newly acquired property base. In the Bakken Shale play of North Dakota, the Company has now completed 5 wells with average production rates of 673 barrels of oil equivalent per day, primarily producing from the Middle Bakken shale section. In addition, a Three Forks/Sanish discovery well, the DeAngelis 41x-21,...
Storm Cat Energy Corporation Announces Default Under Subordinated Convertible Notes, Provides Update of Credit Facility and Engages Parkman Whaling LLC and Alvarez & Marsal
Storm Cat Energy Corporation reported that it failed to make its required quarterly interest payment when due on September 30, 2008, and such failure has continued for a period of 30 days, with respect to its Series A and Series B Subordinated Convertible Notes each due March 31, 2012. The failure of Storm Cat to make the required quarterly interest payment prior to the expiration of such 30 day grace...
Atlas Oil and Gas Announces Results of First Well in Pawnee County, OK
Atlas Oil and Gas, Inc. announced the results today from the first well in its 8 well project located near the Arkansas River in Pawnee County, Oklahoma. This first well was drilled to a depth of 1688′ and had commercially viable amounts of oil in the Layton from 1542′ to 1551′. The well was acidized and treated before being completed for production in this interval. Due to a backlog...
Ausam Energy Corporation Announces Early Warrant Exercise Incentive Program
Ausam Energy Corporation announce that the TSX Venture Exchange has conditionally approved an early warrant exercise incentive program designed to encourage the exercise of up to 8,701,132 common share purchase warrants of Ausam. The Program will be open for a 30-day period, which will commence on October 20, 2008, and end on November 18, 2008. During the Early Warrant Exercise Period, existing holders...
Kinder Morgan Energy Partners and Energy Transfer Partners Announce Customer Commitments for New Pipeline Project
Kinder Morgan Energy Partners, L.P. and Energy Transfer Partners, L.P. announced the two companies have entered into a 50/50 joint venture, Fayetteville Express Pipeline, LLC (FEP), to develop a new pipeline. The approximately 187-mile pipeline will originate in Conway County, Ark., continue eastward through White County, Ark., and terminate at an interconnect with Trunkline Gas Company in Quitman...
Chesapeake Energy Corporation Secures Transportation Capacity for Growing Fayetteville Shale Production
Chesapeake Energy Corporation announced its wholly-owned subsidiary, Chesapeake Energy Marketing, Inc., has entered into a ten-year agreement for firm transportation of 375 million cubic feet (mmcf) per day of natural gas and an option to transport an additional 125 mmcf per day on the Fayetteville Express Pipeline, a new 42-inch, 187-mile pipeline system to be constructed by Kinder Morgan Energy Partners,...
Latest Mining News
Philex Gold Receives Interim Order for Transaction With Philex Mining Corporation
Philex Gold Inc. announced that it has obtained an interim order from the Ontario Superior...
American Mining Corporation Signs LOI to Form Production Joint Venture on Terra Gold Project, Alaska
American Mining Corporation announce that it has signed a binding letter of intent to enter...
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