California Oil & Gas Corp Announces First Exploration Well Commenced Drilling, San Joaquin Basin, Southern California

California Oil & Gas Corporation announce that drilling has commenced on the Sunday Number 1 well in the San Joaquin basin of Southern California. The well spudded Friday, November 21, 2008 utilizing Nabors Drilling USA Rig Number 472. Drilling should be completed in less than seven days. The Sunday Number 1 well is the first of a planned four well exploration drilling program by COGC and the... 

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Daybreak Announces Drilling Operations at Its East Slopes Prospect in San Joaquin Basin, California

Daybreak Oil and Gas, Inc. a Washington Corporation, announce that the Sunday #1 well at the Company’s East Slopes Prospect in the San Joaquin Basin near Bakersfield, California has begun drilling. The Company and its partners have contracted with Nabors Drilling USA to drill the well. It is anticipated that the well will take approximately seven days to drill and evaluate. The results will be... 

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Triangle Petroleum Commences Third Vertical Exploration Well

Triangle Petroleum Corporation today reported the following update on its Maritimes Basin shale gas exploration program. Windsor Block (516,000 gross acres) in Nova Scotia The Company’s second vertical exploration well of 2008, O-61-C, finished drilling and was cased near the town of Walton, Nova Scotia. This well is located approximately 14 miles (22 kilometers) west of the first vertical exploration... 

Tag: horton bluff shale, zodiac exploration corp, triangle usa exploration, maritimes basin shale gas, triangle petroleum

Corridor Updates Exploration and Development Activities in New Brunswick

Corridor Resources Inc. reported that the South Branch G-36 exploration well is currently drilling ahead at a depth of approximately 2566 meters in the Frederick Brook shale. The well encountered a thick Hiram Brook formation within the interval 1380 meters to 2194 meters containing 33 meters of net natural gas bearing sands and a further 46 meters of net reservoir sand with unknown fluid content,... 

Nabors rating will be reviewed by Moody’s Investors

Responding the Nabors’ offering worth $750M, Moody’s investors had it reviewed. It is also said that it placed its “A3″ senior unsecured rating for Nabors Industries Ltd. under review for a possible downgrade after the oil and gas driller announced a senior notes offering. The Bermuda-based company said Thursday one of its subsidiaries, Nabors Industries Inc., priced a $750... 

Nabors Industries Ltd offered 750M

Nabors Industries Ltd, an oil and gas driller company, published a report saying that one of its subsidiaries has priced a $750 million, 10-year offering. The offering of senior notes by Nabors Industries Inc, due 2018. It is also reported that it will have a 6.15 percent interest rate. The company said that The offering is an additional issuance of the same notes that were issued in February 2008,... 

Southern Star Energy Inc closed financing of $25 million

a fast-growing E&P company with reserves and production from leases located in northern Louisiana, Southern Star Energy Inc, published a report saying that it closed on a $25 million Senior First Lien Secured Revolving Credit Agreement (Revolver) with Macquarie Bank Limited. Proceeds from this facility will be used to fund the development of Southern Star’s Sentell Field as well as other... 

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Nabors offers $750M

Nabors Industries Ltd, An Oil and gas driller, announced that one of its subsidiaries has priced a $750 million, 10-year offering. The company said that Nabors Industries Inc.’s offering of senior notes, due 2018, will have a 6.15 percent interest rate. The offering is an additional issuance of the same notes that were issued in February 2008, and will have the same rates, terms and conditions. In... 

Goldman Upgrades Oilfield Services

Goldman Sachs upgraded the oilfield services sector to “Attractive” from “Neutral,” predicting strong profit growth due to greater drilling activity and high oil prices. Analyst Charles Minervino expects earnings to grow in the double digits through 2011 as high oil prices lead to more rapid rig construction, and both drilling activity and the rates oil companies pay for drilling... 

Tag: oil field upgrades, top oilfield services, oilfield services goldman sachs, goldman oil feild service analyst, top oilfield services stocks

Lehman Raises Oil Services Price Targets

A Lehman Brothers analyst raised his price targets on 37 companies in the oil services and drilling sector, seeing a strong recovery in 2008 and 2009 for North American natural gas drilling along with significant international growth over the next few years. Analyst James Crandell’s top picks in the sector are Weatherford International Ltd., Halliburton Co., Schlumberger Ltd., Tidewater Inc.,...