Chesapeake Energy Corporation Announces $2.25 Billion Barnett Shale Joint Venture with Total E&P USA, Inc.
Chesapeake Energy Corporation announced the execution of an agreement for a $2.25 billion joint venture with Total E&P USA, Inc., a wholly-owned subsidiary of Total S.A. (NYSE:TOT, FP:FP) (“Total”), whereby Total will acquire a 25% interest in Chesapeake’s upstream Barnett Shale assets. Total will pay $800 million in cash at closing and will pay an additional $1.45 billion by funding 60%...
Goodrich Petroleum Announces Haynesville Shale Well Results
Goodrich Petroleum Corporation, an independent oil and gas exploration and production company today announced results on three Haynesville Shale wells. The Company has completed its initial horizontal Haynesville Shale well in East Texas, the J.K. Williams 7H, which tested at a rate of 7.0 MMcf per day on a 34/64 inch choke with 2,800 psi. The well is located in the Company’s Beckville/Minden...
Chesapeake Energy Corporation Announces Closing of Marcellus Shale Joint Venture with StatoilHydro
Chesapeake Energy Corporation announced the closing of its Marcellus Shale joint venture transaction with StatoilHydro. Chesapeake sold a 32.5% interest in its Marcellus Shale assets in Appalachia for $3.375 billion of consideration and retained a 67.5% working interest. The assets included approximately 1.8 million net acres of leasehold, of which StatoilHydro now owns approximately 0.6 million net...
Vortex Resources Corp. (VTEX) Exercises Option on Fifth Well Following 100% Success Rate on Initial Drilling Program
Vortex Resources Corp. announce that it is exercising the option to drill its fifth well in Adams-Baggett Field in Crockett County, Texas. After successfully drilling three wells in the Adams-Baggett area and awaiting the results from the fourth well, the management of Vortex has decided to move forward with exercising the option to drill its fifth natural gas well. Two of the previous three natural...
StatoilHydro forms strategic alliance with major US gas player
StatoilHydro, the second largest natural gas supplier to Europe and Chesapeake Energy Corporation, the largest US natural gas producer, today announced the signature of a strategic agreement to jointly explore unconventional gas opportunities worldwide. Under these agreements StatoilHydro will initially acquire a 32.5% interest in Chesapeake’s Marcellus shale gas acreage covering 1.8 million...
Cimarex Energy Expands Anadarko-Woodford Acreage
Cimarex Energy Co. announced the expansion of its Woodford Shale position in the Anadarko Basin of western Oklahoma. Cimarex has entered into an agreement with Chesapeake Energy Corporation to acquire 38,000 net acres for $180 million. The acreage is located in Blaine and Canadian counties, with 88% held by production and an average net revenue interest of 84%. After completing this transaction Cimarex...
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,...
Goodrich Petroleum Announces Mid-Year Reserves, Angelina River Trend Acquisition and Haynesville Shale Activity Update
Goodrich Petroleum Corporation announced that it has received its fully engineered mid-year 2008 reserve report, completed the acquisition of additional acreage in the Angelina River Trend in Nacogdoches County, Texas and provided a Haynesville Shale activity update. MID-YEAR RESERVES The Company has received its fully engineered mid-year reserve report from Netherland, Sewell & Associates, Inc....
Vortex Resources Corp. to Acquire Barnett Shale Properties
Vortex Resources Corp. announced today that it has signed a Memorandum of Understanding (the “MOU”) to enter into a definitive asset purchase agreement with Blackhawk Investments Limited (“Blackhawk”), based in London, England. Blackhawk will exercise its exclusive option to acquire all of the issued and allotted share capital in Sandhaven Securities Limited (“SSL”), and its underlying...
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Philex Gold Receives Interim Order for Transaction With Philex Mining Corporation
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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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