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Random News from Mining Top News

Callon Petroleum Shares Grow After Company Raises Petroleum Production Forecast

Shares of Callon Petroleum Co. jumped Wednesday after the oil and gas company increased its production forecast for the fourth quarter of 2006 and for all of 2007.
Callon raised its fourth-quarter production estimate to 55 to 57 million cubic feet of natural gas equivalent per day, from 51 to 55 million feet per day. It [...]

National Oilwell Varco and Schlumberger Enter Into Agreement to Form Intelligent Drill Pipe Joint Venture

National Oilwell Varco and Schlumberger announced that they have signed a definitive agreement to create a joint venture that combines their respective and complementary expertise in the manufacturing and technology development of wired drill string telemetry systems. The agreement will enable the companies to accelerate delivery of intelligent drilling solutions to customers through the [...]

Tag: drill floor, national oilwell varco news, schlumberger joint ventures and partnerships, national oilwell varco schlumberger, intelligent drill pipe

AuEx Ventures, Inc.: Fronteer Vests 51% at Long Canyon

AuEx Ventures, Inc. report that exploration funding partner Fronteer Development Group Inc. has advised the Company that by September 11, 2008 it had expended in excess of the required $5,000,000 to vest an initial 51% interest in the Company’s Long Canyon exploration property located in Elko County, Nevada.
Upon confirmation to AuEx that the spending [...]

North American Gem Inc. receives additional Coal Prospecting Permits north of Hudson Bay, Saskatchewan

North American Gem Inc. announce that the Company has received an additional 85 Coal Prospecting Permits from Saskatchewan Energy and Resources, near the most recent coal discovery by Goldsource Mines Inc.. This now brings the total to 335 Coal Prospecting Permits covering an area of 720,767 acres (291,684 hectares) that have been approved by Saskatchewan [...]

Tag: phillip ware

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 [...]

Tag: total invest chesapeake energy, eagle ford shale chesapeake, valuation of barnett shale position, chesapeake energy shale investment, uranium barnett shale

Government warned about risk of mining accidents overseas

Senior government officials were warned more than two years ago that Canadian mining companies with overseas operations could “seriously embarrass Canada” if they didn’t take steps to reduce the risk of a major environmental accident.
The warning, contained in a June, 2004, briefing note to the top bureaucrat at the Department of Natural Resources, also includes [...]

Shell, Repsol Sign Preliminary Agreement on Developing Gas Fields in Persian Gulf

European oil companies Royal Dutch Shell PLC and Repsol YPF SA have signed a preliminary agreement with Iran’s state oil company on developing gas fields in the Persian Gulf, a Shell spokeswoman said Monday.
“We’ve signed an upstream service agreement as part of our work to assess the feasibility of the project” known as South Pars, [...]

Crosshair Delivers Significant Growth to Upper C Zone Uranium Resource and Defines New Resources

Crosshair Exploration & Mining Corp. is pleased to announce the results of the updated independent NI 43-101 resource estimate on the C Zone and two new areas at its Central Mineral Belt (CMB) Uranium Project in Labrador.
The updated estimates include an indicated resource of 5.19 million pounds of uranium (U3O8) and additional inferred resources of [...]

Utility Midwest Generation Agrees to Cut Mercury Pollution From Coal-Fired Plants

The operator of six coal-fired power plants in northern and central Illinois has struck a deal with Gov. Rod Blagojevich’s administration calling for drastic cuts in mercury emissions.
Under the deal announced Monday, Midwest Generation officials also agreed to reduce smog and soot at its plants in Chicago, Waukegan, and outside of Romeoville, Joliet and Peoria.
The [...]

Tag: mercury mines canada, manitoba iron mining, prairestateenergy

SRA to Place MTZ Mining Complex on Care and Maintenance

Strategic Resource Acquisition Corporation announced that it will be initiating a temporary care and maintenance program at its wholly-owned Mid-Tennessee zinc mining complex (MTZ).
The decision follows an extensive evaluation of numerous scenarios and zinc pricing projections that leave little support for the continuation of operations under the current commodity pricing and credit market environments. Since [...]