Pemberton to acquire majority ownership in Panny Well

Pemberton Energy Ltd. announce that it has signed a letter of intent and is finalizing contracts to acquire an additional 50% ownership in the Panny 8-25-095-W5M well in exchange for $50,000.00 and 8,000,000 of PBT common shares. Pemberton currently holds 25% ownership and has held operatorship of this well for 7 years. This acquisition is subject to regulatory approval. Management has reviewed the... 

Platts Top 250: The World’s Top Performing Energy Companies

Major oil companies have maintained their stronghold as the world’s most financially effective energy businesses, according to the 2008 Platts Top 250 Global Energy Company rankings announced here Monday evening. But the rankings also point to a performance resurgence by non-oil firms, such as electric utilities, and to the rising importance and influence of Asia-Pacific companies. Against a... 

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Nexant Expands Global Gas Sector Services

Nexant announced today that three gas industry experts—Mike Fulwood, Brian Little, and John Conway—have joined the company’s global gas practice. The three are former principals and founders of Energy Markets Partners LLP, a U.K.-based energy consultancy specializing in natural gas markets. Additionally, Nexant has also acquired a unique proprietary natural gas model that was developed by Energy... 

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Nigerian Troubles Benefit Sub-Saharan Natural Gas Development; Zeus Survey Explores

Violence, corruption and unrealistic demands from foreign investors have benefited natural gas development across Sub-Saharan Africa by driving investment from Nigeria into many other competing countries. A study by Zeus Development Corp. finds that 29 of 47 countries that comprise the subcontinent are now improving gas-development policies and advancing projects. “From Senegal around the Cape... 

Exxon Mobil earnings up with oil prices

Exxon Mobil Corp. on Thursday said earnings rose 6 percent to $10.5 billion, the second-largest quarterly operating profit ever by a U.S. company, boosted by strong oil production as crude prices hovered near record levels. The better-than-expected third-quarter profit pushed the company’s shares to an all-time high of $72.33 on Thursday morning, before they retreated to $71.44, a 0.6 percent... 

High prices spur drilling in bucolic Texas towns

Standing tall amid sunflowers and bales of hay, a greasy drilling rig roared loudly, a recent addition to an otherwise idyllic ranch north of Dallas, Texas. Other signs of change sweep across rolling green fields — green-painted gas wells, large trucks trundling across narrow country roads and a mesh of pipes peeking out of bushes. This is Ponder, Texas, population 507, one of many towns north... 

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High prices spur drilling in bucolic Texas towns

Standing tall amid sunflowers and bales of hay, a greasy drilling rig roared loudly, a recent addition to an otherwise idyllic ranch north of Dallas, Texas. Other signs of change sweep across rolling green fields — green-painted gas wells, large trucks trundling across narrow country roads and a mesh of pipes peeking out of bushes. This is Ponder, Texas, population 507, one of many towns north... 

FACTBOX – Governments boost share of oil, gas income

Emboldened by high oil prices, South American countries are leading the way, but are not alone, among those seeking more cash and control from multinationals that drill in their oil and gas fields. Consumers fear this resurgence of “resource nationalism” will slow investment, tighten supplies and keep oil prices at record highs. But some analysts say with oil hovering near $70 a barrel,...