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... 

Tag: oil companies developing the bakken formation, bakken drilling news, bakken drilling equipment, zenergy oil well information, three fork oil field

Gasco Energy Extends Credit Facility; Provides Update on Gate Canyon Test

Gasco Energy, Inc. announced an amendment to its Credit Agreement and provided an interim operations update on its Riverbend Project in Utah’s Uinta Basin. On December 10, 2008, the Company closed on an amendment to its Credit Agreement led by JPMorgan pursuant to which the maturity date of the facility was extended one year to March 29, 2011. The interest rate pricing grid was increased 0.25%... 

Tag: gasco energy, kodiak agreement with xto

Northern Oil and Gas, Inc. Announces Ten Bakken and Three Forks Discoveries

Northern Oil and Gas, Inc. announced the successful drilling and completion of an additional ten oil producing wells in the North Dakota Bakken and Three Forks trend. The ten wells began producing at an average initial production rate of 825 barrels of oil per day. Northern Oil is currently participating in the drilling or completion of an additional 21 Bakken and Three Forks wells. In addition, Northern... 

Tag: balkin oil, u s geological service bakkan, bakken three forks basin oil drillers, north dakota bakken oil, north dakota bakken sanish 2009

Delta Petroleum Corporation Announces Increased Commitments for New Revolving Credit Facility to $295 Million

Delta Petroleum Corporation, an independent oil and gas exploration and development company, announced that it has received commitments from its expanded bank group for a new $590 million revolving credit facility (the “credit facility”) with an initial borrowing base of $295 million, an increase from the previous borrowing base of $250 million. The increase to both the borrowing base and... 

Tag: delta petroleum bankruptcy

CREDO Petroleum Reports That Financial Condition Remains Strong

CREDO Petroleum Corporation reported that its financial condition is sound and that the company is well positioned to capitalize on opportunities that may arise due to recent events in the U.S. and world financial markets. In July CREDO completed a $16,675,000 stock sale. Working capital is approximately $27,400,000, consisting primarily of cash and short term investments, and the company has no debt. As... 

Tag: pennslyvania gas lease royalties

South Texas Oil Company Provides Interim Operations Update

South Texas Oil Company provided an interim operations update and asset overview. With the appointment of new management in late June 2008, the Company has clearly defined its core operating areas and plans for growing production and reserves. Overview South Texas Oil is an independent oil and natural gas exploration and production company with three core operating areas: — The Gulf Coast... 

Tag: oil drilling report south texas, texas oil wells for sale, south texas oil exploration, south texas oil company, oil companys drilling in south texas

Teton Energy Corporation Announces Williston Basin Participation Agreement

Teton Energy Corporation and the other working interest owners at the Goliath Prospect (American Oil & Gas, Inc. (50%), Sundance Energy Australia Limited (5%) and privately held Evertson Energy Partners LLC (20%) have signed a participation agreement with Red Technology Alliance LLC (“RTA”), which gives RTA the option to fund 100% of the drilling, completion and equipping of up to... 

Tag: goliath bakken teton

JAG Media Holdings, Inc. Announces Letter of Intent for the Merger of BlueCreek Energy, Inc.

JAG Media Holdings, Inc. announced that it has entered into a non-binding letter of intent with BlueCreek Energy, Inc. and several other parties, pursuant to which BlueCreek will merge with a wholly-owned subsidiary of JAG Media. In consideration of the merger, the shareholders of BlueCreek would receive at the closing a number of shares of JAG Media’s common stock, which upon issuance would... 

Tag: jag media blue creek, jag media blue creek merger, 8k loi announcement, non binding letter of intent merger

Delta Petroleum Corporation Announces Joint Venture and Additional Leasehold Acquisition in Columbia River Basin

Delta Petroleum Corporation, an independent oil and gas exploration and development company, announced that it has signed agreements for two separate transactions in the Columbia River Basin of Washington and Oregon. The first is a transaction with EnCana USA, Inc., through which Delta has acquired all of EnCana’s net leasehold position and interest in wells in the CRB of Washington. This transaction... 

Tag: oil and gas equipments and services joint venture acquisitions gulf, delta petroleum group, delta oil and gas columbia river, columbia river basin oil and gas, delta petroleum group ltd

Ameriwest Energy Signs Agreements to Proceed With Drilling at Ameriwest Fee #1 Well

Ameriwest Energy Corp. announce that it has finalized requisite drill site agreements towards the spud of the Ameriwest Fee #1 well. The Company has executed a Surface Use Agreement with the private land owners, thereby clearing the way for immediate construction of a roadbed, and for the proposed future installation of electrical lines, water sources and additional production equipment as needed should...