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... 

Tag: vortex sandhaven barnett, vortex acquire, mike m mustafoglu vortex, vortex mining, goviex bvi

West Canyon Energy Signs LOI for Spring Creek Prospect in North Dakota

West Canyon Energy Corp., a Houston-based energy exploration and production company focused on high impact energy prospects in the continental United States, announced today that it has signed a Letter of Intent to acquire one-hundred percent (100%) working interest, in the Spring Creek Prospect. On March 25, 2008 we entered into a letter of intent (“LOI”) with Slope County Oil Company... 

Tag: spring creek north dakota, lodgepole reefs north dakota, north dakota industrial commission potash, fred b zaziski, red river formation prospect in slope county north dakota

Callon Petroleum Completes Acquisition of Stake in Entrada Field

Callon Petroleum Company has closed the acquisition of BP Exploration and Production Company’s 80% working interest in the Entrada Field for total cash consideration of $190 million. The purchase price included $150 million payable at closing and an additional $40 million payable after the achievement of certain production milestones. The purchased interests in the Gulf of Mexico include Garden... 

EAST TEXAS DRILLING REPORT, OCTOBER 8

DEVELOPMENTAL Panola County # In a lease 11.1 miles west of Carthage, in a wildcat field, the R.D. Browning GU Well No. 6 will be drilled by AC Exploration. The well will be drilled to 10,200 feet in the Morgan, E Survey, A-469. The well may also be drilled in the Beckville (Travis Peak) Field, the J.G.S. (Rodessa Gloyd) Field, the Fairplay, Northeast (Travis Peak) Field, the Carthage (Pettit, Lower)... 

Tag: devon energy in limestone county texas, cabot oil and j c mc swain of east texas, oil production shelby county tx, texas shelby co weekly drilling report, harrison county texas and natural gas

EAST TEXAS DRILLING REPORT, OCTOBER 1

Panola County # The Reed Estate Gas Unit Well No. 6 will be drilled by Chesapeake Operating in the Carthage (Cotton Valley) Field 1.4 miles northwest of Clayton in the MA Romero Survey, A-1. The well will bottom at 12,000 feet and may also be drilled in a wildcat field. # Enduring Resources will drill the Allison-Cassity Well No. 1 in the Carthage (Barbara) Field 0.9 miles northwest of Long Branch... 

Tag: douglass w field travis peak nacogdoches county, samson lonestar oil and gas leases, angelina county drilling report, robinson heirs bethany louisiana, pinkstonenergy

Study Finds Poorly Designed Incentives in a Long-Term Business Cycle Industry

Executive compensation in the oil industry often leads to excessive rewards for below-average performance, according to a survey released today by The Corporate Library. The study found that too little attention is paid to linking properly designed long-term incentives to a long-term business cycle. Most compensation plans are tied to single measures, such as EPS, with little or no peer comparisons,...