Credo Petroleum Announces Drilling on Its First Horizontal Bakken Well
Credo Petroleum Corporation, an oil and gas exploration and production company with significant assets in the Mid-Continent and Rocky Mountain Regions, today provided an update on its horizontal Bakken drilling project. Credo entered the horizontal Bakken oil play in 2008 as part of its ongoing strategy to focus on developing oil production and reserves. To date, the company has acquired 6,100 gross...
Anadarko Announces Another Deepwater Gulf of Mexico Discovery
Anadarko Petroleum Corporation announced its second deepwater Gulf of Mexico discovery this week. The Shenandoah discovery well, located in Walker Ridge block 52, encountered net oil pay approaching 300 feet in the Wilcox formation. “This has been a remarkable week, with back-to-back deepwater discoveries in the Gulf of Mexico,” said Bob Daniels, Anadarko Sr. Vice President, Worldwide Exploration....
Marathon Announces Natural Gas Discovery in New Area of Oklahoma
As part of the Company’s targeted expansion into key resource plays of North America, Marathon Oil Corporation announced that it has participated in a successful step-out discovery well on the Brickyard prospect, located in the northeast area of the Anadarko Basin, targeting the Woodford Shale resource play in Canadian County, Oklahoma. The Cana No. 1-15H discovery well was drilled to a true...
Marathon Oil Corporation Announces Increase in Exchangeable Share Ratio
Marathon Oil Corporation announced on Oct. 29, 2008, that the Company’s board of directors declared a dividend of 24 cents per share on Marathon Oil Corporation’s common stock. The dividend is payable Dec. 10, 2008 to stockholders of record Nov. 19, 2008. In connection with Marathon’s acquisition of Western Oil Sands Inc. and the terms of the provisions applicable to the exchangeable...
Impressive Panel Speaking at Upcoming RMI Oilfield Breakfast Forum
RMI, a leading oilfield market consulting firm, will host the Oilfield Breakfast Forum on Wednesday, November 12, 2008, at the Westin Galleria in Houston, Texas. Since beginning in 1994, the Oilfield Breakfast Forum has grown into the largest discussion forum in the world on the petroleum industry. Currently, more than 700 executives have signed up for the November 12th event. The topics to be covered...
Marathon Completes Sale of Its Interests in Heimdal Area Offshore Norway
Marathon Oil Corporation announced the completion of the sale of its non-operated interests in the Heimdal infrastructure, related producing fields and associated undeveloped acreage offshore Norway. Centrica plc, the parent company of British Gas, acquired the interests for a total value of $416 million, which includes a $375 million purchase price and $41 million in associated Norwegian asset tax...
Marathon Board Approves Deepwater Gulf of Mexico Droshky and Ozona Development Projects
Marathon Oil Corporation announced that its Board of Directors has sanctioned two Gulf of Mexico development projects, Droshky and Ozona. The Board approved a total project cost of $1.3 billion for the Droshky development and $300 million for the Ozona development. “As we continue to strengthen Marathon’s Gulf of Mexico portfolio, the Droshky development will add profitable production and...
Marathon Awarded Second Indonesian Offshore Exploration Block
Marathon Oil Corporation announced that its subsidiary, Marathon Indonesia New Ventures Limited, has been awarded a 49 percent interest and operatorship in the Bone Bay Block offshore Indonesia. The Bone Bay Block is approximately 1.23 million acres (or equivalent to 213 Gulf of Mexico lease blocks) and is located predominantly offshore southern Sulawesi Island, in the Bone Bay region. It is a high...
Denbury Recommends Rejection of Mini-Tender Offer by TRC Capital Corporation
Denbury Resources Inc. announced that an unsolicited “mini-tender” offer is being made by TRC Capital Corporation to acquire up to 4 million shares of Denbury common stock from shareholders at a price of $13.50 per share. This price represents approximately a 4.2% discount below Denbury’s closing price on the New York Stock Exchange on October 6, 2008, the day prior to the date the offer commenced....
Eight New Bakken Discoveries, Ten Additional North Dakota Bakken and Three-Forks Wells Nearing Completion
Northern Oil and Gas, Inc. announced the company recently participated in the successful drilling and completion of an additional eight oil producing wells in the emerging Bakken trend of North Dakota. The eight wells began producing at an average initial rate of 768 BOPD. – The EN-Person-1102H-1 well, located in Mountrail County, ND was operated by Hess Corporation and posted an initial production...
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