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Random News from Mining Top News

Oil Down After Volatile Session

Oil futures ended a whipsaw session slightly lower, as the expiration of options played havoc with prices, driving crude near record high levels at times and down by more than $3 a barrel at others. Retail gas prices, meanwhile, advanced past $3.77 a gallon.
Options let investors bet oil prices will rise or fall in the [...]

Professor eyes Nebraska sites for burying coal byproduct

A University of North Dakota professor says the Panhandle and southeast Nebraska could be good locations to bury concentrated carbon dioxide produced by coal- burning power plants.
Edward Steadman is program manager for the Plains CO2 Reduction Partnership, one of seven regional partnerships to study the feasibility of geological sequestration.
In geological sequestration, concentrated carbon dioxide is [...]

Tonogold Resources Announces Acquisition of Goldstrike, Utah Gold Project

Tonogold Resources, Inc. has leased 120 unpatented mining claims (2,400 acres) covering key portions of the Goldstrike District in Washington County, Southwest Utah. Goldstrike is an advanced gold exploration project.
The Goldstrike property consists of two mining leases covering areas of shallow historic open pits, separate unmined areas with thick gold drill intercepts, and untested [...]

Tag: utah gold exploration, goldstrike mine, goldstrike mine utah, goldstrike mine limestone, name of the gold mines in utah

Yilgarn Australia in iron ore rail deal with China

Iron ore infrastructure group Yilgarn Infrastructure Ltd. said the Export-Import Bank of China had signed a letter of intent to provide A$1.5 billion ($1.3 billion) in debt financing for its planned Oakajee port and rail project in Western Australia.
Yilgarn, which plans to list on the Australian Stock Exchange, is carrying out a feasibility study [...]

Environmental group demonstrates alternate fuel vehicles

Four members of a national conservation group touring Florida today to showcase gas-saving vehicles unfortunately had to use petroleum gas exclusively to run their biofuel-burning Chevrolet because ethanol fuel is not yet available here.
“The trick is you only have one pump in the whole state of Florida, unlike in the Midwest, where there are hundreds [...]

Swift Energy to Acquire South Texas Properties for $47 Million

Swift Energy Company announced that it has signed an agreement to purchase from Crimson Energy Partners, L.P., a privately held company, oil and natural gas interests in Dimmit County in South Texas for $47 million. The interests in Crimson’s Briscoe “A” lease and wells are located on 5,140 acres adjacent to existing Swift Energy production [...]

Tag: dimmit county texas natural gas pipelines, crimson energy, crimson energy partners

Petrohawk and KCS Clear Hurdle to Merger

Petrohawk Energy Corp. on Thursday announced that the waiting period for U.S. antitrust review has expired in connection with the company’s previously announced proposed merger with KCS.
The waiting period, which ended on June 19, was required under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. The expiration of the Hart-Scott-Rodino waiting period satisfies one [...]

Bidders from 60+ countries drawn to Ritchie Bros.’ busy auction week

Buyers from outside the Netherlands purchased 80 percent of the equipment in the most recent Ritchie Bros. auction in Moerdijk, representing (euro)35 million (US$51 million) of the (euro)44 million auction (US$64 million). The unreserved public auction of heavy equipment and trucks attracted more than 1,100 on-site and online bidders from 59 countries. Almost 3,700 used [...]

Verenex Commences Drilling in Libya

Verenex Energy’s subsidiary, Verenex Energy Area 47 Libya Limited, has commenced drilling the Company’s first exploration well in Libya, named A1-47/02, located in the southern part of Area 47. The well is being drilled by ODE Rig No.28 which is under a long term contract to Verenex.
The A1-47/02 well qualifies as the first of three [...]

Tag: oil drilling in libya

L&M Petroleum launches $20m IPO

New Zealand-focused oil and gas explorer L&M Petroleum Ltd has launched a $20 million initial public offering (IPO) and expects to list before Christmas.
L&M is issuing 100 million shares at 20 cents each through its IPO, which is fully underwritten by Intersuisse in Australia and McDouall Stuart in New Zealand.
The company will dual list on [...]