Chesapeake Energy Corporation Announces $2.25 Billion Barnett Shale Joint Venture with Total E&P USA, Inc.
Chesapeake Energy Corporation announced the execution of an agreement for a $2.25 billion joint venture with Total E&P USA, Inc., a wholly-owned subsidiary of Total S.A. (NYSE:TOT, FP:FP) (“Total”), whereby Total will acquire a 25% interest in Chesapeake’s upstream Barnett Shale assets. Total will pay $800 million in cash at closing and will pay an additional $1.45 billion by funding 60%...
Precision Petroleum Corporation-Acquires Overriding Royalty Interest in Two Adjoining Fields, Nowata County, Oklahoma
Precision Petroleum Corporation an independent energy company engaged in the acquisition, exploration and development of oil and natural gas properties in North America continues to extend its oil production expansion program. Richard Porterfield, President, advises that the Company has recently acquired Overriding Royalty Interests in two adjacent leases, East and West Moreland located in Nowata County,...
Northern Explorations Undertakes Due Diligence on California Natural Gas Projects
Northern Explorations Ltd. announced that Norex personnel and independent engineering consultants have commenced a formal due diligence process on two California natural gas projects. The ongoing review of engineering and geological data provided to the Company has been extremely positive to-date. Engineers have reviewed the existing 2D and 3D seismic data as well as analog well production data with...
Sabretooth Energy Ltd. completes asset sale and acquires 71% of HFG Holdings Inc.
Sabretooth Energy Ltd. announce that, further to its press release of November 25, 2008, it has today completed the sale of certain assets to HFG Holdings Inc. Sabretooth sold 59 net sections of Montney petroleum and natural gas rights, and certain wells and seismic access and interpretations to HFG in exchange for 156,546,590 common shares of HFG at a deemed price of $0.20 per share. The assets sold...
Gran Tierra Energy Announces US$198 Million 2009 Capital Program
Gran Tierra Energy Inc., a company focused on oil exploration and production in South America, announced a capital spending program of US$198 million for exploration and production development operations in Colombia, Peru, and Argentina for 2009. This budget includes the drilling of seven exploration wells and six development wells in Colombia, in addition to seismic acquisition programs in Colombia,...
Beacon Redevelopment Enters Into Lease Negotiations for Riverfront Property for Coal Distribution Center
Beacon Redevelopment Industrial Corporation announced that it entered into negotiations to acquire a ten year lease with an option to purchase a riverfront property to form the company’s coal distribution center. The location, totaling 8.4 acres, in Sewickley Township, Westmoreland County, Pennsylvania, is situated on the Youghiogheny River. A working railroad runs through the property, and...
Southern Star Energy Announces New Cotton Valley Well Discovery From A.S. Burt 20-1 Well and Drilling Ahead to Test Haynesville Shale
Southern Star Energy Inc., a fast-growing exploration and production company with reserves and production from leases located in northern Louisiana, today announced that it has successfully drilled and logged the targeted Cotton Valley interval in its A.S. Burt 20-1 Well with positive results. The well reached planned intermediate pipe depth of 9,530 feet on November 10, 2008. Subsequent to logging...
Friendly Energy Acquires Ten Natural Gas Drilling Sites, Options Forty Additional Sites
Friendly Energy Exploration. announces that it has acquired ten natural gas drilling sites and optioned forty additional sites located in the Molly Murphy Gas Field, Crockett County, Texas. The company will be targeting the Wolfcamp Sand structure, which is determined to be located near the 5500-foot depth zone. Based upon production figures of wells in the same field, producing from the targeted Wolfcamp...
Epsilon Energy Ltd. Updates Its Shares Purchased to Date Under Its Normal Course Issuer Bid
Epsilon Energy Ltd., announced that it had purchased 1,000,000 of its Common Shares through a combination of open market and block trades at an average cost of $0.83 per Common Share between October 1, 2008 and November 7, 2008. Under terms of the Normal Course Issuer Bid approved by the Toronto Stock Exchange (“TSX”) on September 29, 2008, Epsilon may purchase up to a total of 2,000,000...
Surge Global Plans On Drilling First Well On Acreage Leased in Crane County, Texas
Surge Global Energy, Inc. announce that its wholly owned subsidiary, Surge Energy Resources, Inc., has concluded leasing approximately 640 acres in Crane County, Texas at a cost of about $140,000. Surge plans on drilling its first oil & gas discovery well on those leases within the next 30 days at a drilling cost of approximately $450,000. The Surge Texas Prospect was leased in conjunction with...
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American Mining Corporation Signs LOI to Form Production Joint Venture on Terra Gold Project, Alaska
American Mining Corporation announce that it has signed a binding letter of intent to enter...
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