Marathon Oil Corporation announced the completion of the sale of its non-operated interests in the Heimdal infrastructure, related producing fields and associated undeveloped acreage offshore Norway. Centrica plc, the parent company of British Gas, acquired the interests for a total value of $416 million, which includes a $375 million purchase price and $41 million in [...]
Marathon Oil Corporation announced that its Board of Directors has sanctioned two Gulf of Mexico development projects, Droshky and Ozona. The Board approved a total project cost of $1.3 billion for the Droshky development and $300 million for the Ozona development.
“As we continue to strengthen Marathon’s Gulf of Mexico portfolio, the Droshky development will add [...]
Denbury Resources Inc. announced that an unsolicited “mini-tender” offer is being made by TRC Capital Corporation to acquire up to 4 million shares of Denbury common stock from shareholders at a price of $13.50 per share.
This price represents approximately a 4.2% discount below Denbury’s closing price on the New York Stock Exchange on October 6, [...]
Gossan Resources Limited has been advised by Marathon PGM Corporation (”Marathon”), that it has expended in excess of $3 million on the Bird River Project and that Marathon will trigger formation of a 50:50 joint venture on the Project by making a further $400,000 cash payment to Gossan.
Marathon also advised that it has acquired the [...]
Marathon PGM Corporation announce that it has acquired the Ore Fault Property (”OFP”) from Bird River Mines Inc (CNQ:BRMI). The OFP consists of 19 claims which cover 446 hectares and is located at the eastern margin of Marathon’s Bird River Project, which is under option from Gossan Resources (GSS:TSX.V). The Gossan portion of the Bird [...]
Marathon Oil Corporation announced that it has entered into a definitive agreement with Centrica plc, the parent company of British Gas, under which Centrica will purchase Marathon’s non-operated interests in the Heimdal infrastructure, related producing fields and associated undeveloped acreage offshore Norway. The transaction, which has a total value of $416 million and an [...]
Chevron Corp. , the No. 2 U.S. oil company, said on Friday its fourth-quarter profit fell 9 percent, pulled down by weaker natural gas prices that have pared record earnings across the industry.
The decline in Chevron’s profit mirrors similar fourth-quarter drops at U.S. rivals Exxon Mobil , ConocoPhillips , and Marathon Oil Corp. — a [...]
Nuinsco Resources Limited announced that it has begun a uranium exploration program at its 100% owned Prairie Lake property in northwestern Ontario. Prairie Lake hosts a near-surface historic (non-NI-43-101-compliant) resource of over 180,000 tonnes grading 0.09% U3O8 reported by Nuinsco in the 1970s. Surface exploration has begun and samples have been collected in preparation for [...]
Fending off Opposition attacks on him on a bribery charge, Karnataka Chief Minister H D Kumaraswamy today announced in the state Assembly an “impartial inquiry” into illegal mining and declared that the government was willing to ban the mining itself if the legislature plumped for it.
Winding up a marathon debate in the Assembly, he rejected [...]
Launching a counter-attack over the bribery charges against him, Chief Minister H D Kumaraswamy on Tuesday accused the two previous governments of dereserving thousands of acres of forest land for the benefit of miners and offered to hold an impartial inquiry into all irregularities in mining activities during the last six years.
Speaking at length for [...]
