Quaterra Signs Earn-In Agreement With Freeport-McMoRan Exploration Corporation for Peg Leg Copper Project in Arizona

Quaterra Resources Inc. a junior exploration company focused on making significant mineral discoveries in North America announced it has signed an earn-in agreement with Freeport-McMoRan Exploration Corporation of Phoenix, Arizona (FMEC), for the Company’s Peg Leg copper project in Arizona. In the terms of the agreement, FMEC has the exclusive right and option to acquire a 70% ownership interest... 

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Mariner Energy Announces Three Discoveries in the Gulf of Mexico

Mariner Energy Inc. announced drilling success at three exploration wells in the Gulf of Mexico: Heidelberg #1 on Green Canyon Block 859, Bushwood #1 (formerly Geauxpher #3) on Garden Banks Block 463, and Smoothie #2 on South Timbalier Block 49. Heidelberg and Bushwood are deepwater wells located in water depths of approximately 5,000 feet and 2,700 feet, respectively. Smoothie, a deep shelf prospect... 

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Anadarko Announces Deepwater Gulf of Mexico Discovery

Anadarko Petroleum Corporation announced a substantial oil discovery at its Heidelberg prospect in Green Canyon block 859 in the deepwater Gulf of Mexico. The discovery well encountered more than 200 feet of net oil pay in several high-quality Miocene sands. “The Heidelberg discovery further validates our geologic understanding of the subsalt Miocene trend. The well encountered the same-age sands... 

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Natural Resource Partners L.P. Acquires Coal Reserves and Infrastructure From Cline Group in Illinois Basin

Natural Resource Partners L.P. announced that it had acquired coal reserves and infrastructure assets related to the Shay No. 1 mine in Illinois from Macoupin Energy, LLC, an affiliate of the Cline Group, for $143.7 million. Upon closing, NRP paid $83.7 million and will make three subsequent payments of $20 million each in 2009 based upon performance measures associated with the development of a new... 

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Seadrill takes delivery of the deepwater drilling rig West Aquarius

Seadrill took delivery of the new deepwater semi-submersible drilling rig West Aquarius from the DSME shipyard in South Korea. The unit will leave Korean waters in a few days after completing some general mobilization activities, en route to its first drilling assignment in Indonesia. Start-up of operations is expected mid February. West Aquarius has a three-year contract with ExxonMobil for worldwide... 

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ExxonMobil Technology Yields Worlds Largest LNG Carrier

Exxon Mobil Corporation’s technology leadership in liquefied natural gas or LNG has resulted in an industry breakthrough in carrier design and size, enabling the more efficient transport of natural gas to markets throughout the world. The recent completion of the world’s first Q-Max LNG carrier, named ‘Mozah,’ marks a step change in LNG shipping by reducing transportation cost, while improving... 

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Quaterra Secures an Option to Acquire the Willow Creek Porphyry Molybdenum Prospect in Montana

Quaterra Resources Inc. announces that it has secured an option with the Willow Creek Discovery Group, LLC, to acquire 100% of the Willow Creek porphyry molybdenum prospect in southwestern Montana, 40 miles southeast of Missoula and 10 miles northwest of Phillipsburg. The Willow Creek prospect is located within the prolific northeast-trending Idaho-Montana porphyry belt, which includes major producing... 

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ExxonMobil Enters Black Sea with Exploration Agreement in Turkey

Exxon Mobil Corporation announced today its affiliate, ExxonMobil Exploration and Production Turkey B.V., has signed an agreement with Turkish national oil company, Türkiye Petrolleri Anonim Ortakl??? (TPAO), to explore in two large deepwater blocks offshore Turkey, marking ExxonMobil’s entry into Black Sea exploration. ExxonMobil will become operator during the initial exploration phase and earn... 

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Exxon Mobil Posts Biggest US Quarterly Profit Ever

Exxon Mobil Corp., the world’s largest publicly traded oil company, reported income Thursday that shattered its own record for the biggest profit from operations by a U.S. corporation, earning $14.83 billion in the third quarter. Yet numbers contained within the company’s most recent financial report revealed production numbers that continue to sag. The Irving, Texas-based company has reported... 

Curtis Represents KMG in Agreements Concerning Future Development of Kashagan Field, World’s Largest Oil Discovery in 30 Years

Curtis, Mallet-Prevost, Colt & Mosle LLP represented KazMunayGas (KMG), the national oil company of Kazakhstan, in its successful negotiations with the North Caspian Sea consortium on the detailed agreements for the future development of the Kashagan field. The Kashagan field is reported to be the world’s largest oil discovery in at least three decades. The North Caspian Sea consortium consists... 

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