Lime Rock Resources II Closes at $410 Million

Lime Rock, a private equity firm focusing on the global energy sector, today announces the closing of Lime Rock Resources II with $410 million in total capital commitments. Like the first Lime Rock Resources fund, Lime Rock Resources II will seek to acquire, directly operate, and improve lower-risk oil and gas properties in the United States. Together with the Lime Rock Partners funds, which invest... 

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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... 

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Mammoth Energy Group Announces Results of First Well in Pawnee County, OK

Mammoth Energy Group, Inc. announced the results from the first well in its 8 well project located near the Arkansas River in Pawnee County, Oklahoma. This first well was drilled to a depth of 1688′ and had commercially viable amounts of oil in the Layton from 1542′ to 1551′. The well was acidized and treated before being completed for production in this interval. Due to a backlog... 

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Sunoco Logistics Manages Order-to-Cash Process and Crude Gathering Pipelines With Synthesis(TM) Release 5.0

Entessa Inc. — the leading provider of Oil and Gas Logistics Management Solutions — delivered Release 5.0 of its Synthesis(TM) enterprise software suite to Sunoco Logistics Partners L.P.. The introduction of crude gathering pipeline support now enables Sunoco Logistics Partners to manage the entire order-to-cash logistics for its Western pipeline operations with Synthesis. Entessa is pleased... 

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Atlas Oil and Gas Announces Results of First Well in Pawnee County, OK

Atlas Oil and Gas, Inc. announced the results today from the first well in its 8 well project located near the Arkansas River in Pawnee County, Oklahoma. This first well was drilled to a depth of 1688′ and had commercially viable amounts of oil in the Layton from 1542′ to 1551′. The well was acidized and treated before being completed for production in this interval. Due to a backlog... 

Orbit Petroleum Names New President and Amends Chapter 11 Reorganization

Orbit Petroleum announces that effective October 20th, 2008 the Board of Directors has named Mike Myers as President of Orbit Petroleum, Inc. and President of the Company’s wholly owned subsidiary, Orbit Petroleum, Inc., Oklahoma, which is currently under a petition for reorganization under Chapter 11 of the United States Bankruptcy Code in Federal Court in New Mexico. Additionally, the Company has... 

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Allied Energy Provides a Summary of Operations for Its Southern Fields in Rogers County, Oklahoma

Allied Energy, Inc. provided the following report regarding its drilling, completion and production operations in Rogers County, Oklahoma for the following programs: 12-Well Program (USCBM) The Begley #12-3 and Begley #12-4 wells are now in production with the Noble Brewer #12-1 and Noble Brewer #12-2 wells in the final stages of completion. Artificial lift systems are currently being installed for... 

Linn Energy to Sell Woodford Shale Acreage in Central Oklahoma for $229 Million

Linn Energy, LLC announced that it has entered into a purchase and sale agreement to sell its deep rights in certain central Oklahoma acreage, which includes the Woodford Shale interval, for cash consideration of $229 million, subject to closing adjustments. The sale includes no producing reserves and Linn Energy will retain the rights to the shallow portion of this acreage. Linn Energy anticipates... 

Chesapeake Energy Corporation Secures Transportation Capacity for Growing Fayetteville Shale Production

Chesapeake Energy Corporation announced its wholly-owned subsidiary, Chesapeake Energy Marketing, Inc., has entered into a ten-year agreement for firm transportation of 375 million cubic feet (mmcf) per day of natural gas and an option to transport an additional 125 mmcf per day on the Fayetteville Express Pipeline, a new 42-inch, 187-mile pipeline system to be constructed by Kinder Morgan Energy Partners,... 

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Petrohawk Reduces 2009 Capital Budget, Focused on Haynesville and Fayetteville Development

Petrohawk Energy Corporation announced that it will reduce its 2009 capital budget by a third and reallocate spending to more heavily weight projects with the highest internal rates of return and highest potential for reserve growth, namely, development in the Haynesville and Fayetteville Shales. The shift allows the Company to further affirm its strong capitalization. The 2009 capital budget, which... 

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