Terra Energy & Resource Technologies, Inc., a natural resource exploration technology company, has completed an exploration services project for oil and gas in Nevada under a contract with Golden Eagle Alliance, LLC, a Colorado limited liability company. The contract entailed the application of STeP®, Terra’s proprietary remote sensing exploration technology, with the objective being to...
Hyperdynamics Corporation today announced that it has received encouraging preliminary results from an oil seeps study of the company’s 31,000-square-mile oil and gas concession offshore Guinea. The survey was conducted by TDI-Brooks International of College Station, Texas. “We conducted this study to survey projected sites of oil seepage in three areas of our concession,” said Ray...
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...
American Petro-Hunter, Inc. announce that the Company has entered into an agreement whereby the Company intends to purchase production from two existing gas wells from Texas-based Oxalis Energy Group. Under the terms of the Letter of Intent (L.O.I.), the Company is currently undertaking a period of due diligence on the project with a thorough review of project data and well production history of this...
Aztec Oil & Gas, Inc. announced the progress of two of its partnerships formed under the Aztec VIII Oil & Gas Drilling Program which is now closed to subscriptions. The Aztec VIII-B Partnership closed June 17, 2009 and the Aztec VIII-C Partnership closed on August 31, 2009. Aztec Energy LLC acts as Managing General Partner for both partnerships and Aztec Drilling & Operating LLC acts...
RedHawk Energy Corporation announced that it has acquired 100% of the membership interests of Texas-based Xxtreme Pipe Services, LLC, Xxtreme Pipe Storage, LLC, Xxtreme Tubular Processors, LLC and Wolf Pack Rentals, L.L.C. (collectively, the “Xxtreme Group”) for $66.0 million in cash, preferred stock and assumed debt. The purchase price is subject to certain post-closing adjustments. Headquartered...
Allied Energy, Inc. announced that the Company has recently formed Allied Operating Texas, LLC, a wholly owned subsidiary of Allied Energy, Inc. “Allied Operating Texas, LLC was formed to operate our East Texas projects,” said Steve Stengell, Allied’s President. Oil and natural gas drilling, completion and production operations involve a high degree of risk and uncertainty. The Company...
Ritchie Bros. Auctioneers, the world’s largest industrial auctioneer, sold more than 800 equipment items, including more than 30 cranes, in a multi-million dollar unreserved public auction at its permanent auction site in Denver, Colorado on Tuesday, October 20, 2009. The unreserved auction attracted more than 1,600 on-site and online bidders from more than 25 countries as far away as the United...
The Crosstex Energy companies, Crosstex Energy, L.P. and Crosstex Energy, Inc., announced that the Partnership has acquired the Eunice natural gas liquids (NGLs) processing plant and fractionation facility from Phillip Morris for approximately $42 million, which includes $18 million of assumed debt. Previously, Crosstex managed the plant and facility, which are located in south central Louisiana, under...
Forbes Energy Services Ltd. announced that on October 2, 2009 the Company and its domestic subsidiaries completed the sale by the Company’s subsidiaries, Forbes Energy Services LLC and Forbes Energy Capital Inc., of $20 million aggregate principal amount of first lien floating rate notes to Goldman, Sachs & Co. in a private placement in reliance on an exemption from registration under the...