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%... 

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The Marcellus Shale Coalition Issues Statement Regarding Support for Responsible Natural Gas Development in Pennsylvania

The Marcellus Shale Coalition (MSC) today underscored its commitment to economic development, environmental protection, and best management practices in the responsible development of Pennsylvania’s vast natural gas resources. “There are a lot of groups and organizations interested in learning more about the Marcellus Shale — beyond the vast economic opportunities, to include an understanding... 

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Allied Energy Forms Operating Company in Texas

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... 

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Petrolia Progresses and Drills the Tar Point No. 1 Well

Petrolia announce that on Friday October 23 it spudded of the Petrolia Tar Point No 1 well. This well is the second in a series of six that the Company expects to complete in the Gaspe region over the next twelve months, in order to reach its objective of becoming Quebec’s first petroleum producer. Only a portion of the costs for the six wells should be paid directly by the Company. Petrolia... 

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Kodiak Oil & Gas Corp. Announces Pricing of Underwritten Public Offering of Common Stock

Kodiak Oil & Gas Corp. announced the pricing of an underwritten public offering of 12,000,000 shares of its common stock at a price of $2.20 per share. The offering is being made pursuant to an effective shelf registration statement that Kodiak filed with the Securities and Exchange Commission on July 14, 2008. The net proceeds of the offering, after deducting underwriting discounts and commissions... 

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Forbes Energy Services Announces Closing of Private Placement of $20 Million of First Priority Notes

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... 

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ProspEx Resources Announces Kakwa Horizontal Well Results and Establishment of New Operating Area in West Central Alberta

ProspEx Resources Ltd. is providing an operational update with respect to certain projects within its 2009 capital program. “Flow test results from our East Kakwa horizontal well have exceeded expectations, validating the concept of a repeatable horizontal drilling development on our lands”, said John Rossall, President and Chief Executive Officer. “I am also excited to announce that... 

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Black Dragon Net Income for the First Two Quarters of 2009 Was Up 14%

Black Dragon Resource Companies, Inc.’s Dr. Gerald Bailey, CEO of Black Dragon, stated that net income for the first six months was $546,443, compared to 2008 of $477,470. This is a 14% increase. Oil and gas income was down 68% compared to 2008. Savings were achieved in administrative expenses which were down 78%, primarily due to non-recurring legal expenses from 2008. The large drop in oil... 

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U.S. Energy Corp. to Drill Third Prospect With Houston Energy L.P.

U.S. Energy Corp., a natural resources exploration and development company with interests in molybdenum, oil and gas, geothermal, and real estate assets, today announced that it has entered into a third Participation Agreement with Houston, Texas-based Houston Energy L.P. to acquire a 25% working interest in an oil prospect located in southeast Louisiana. Houston Energy has estimated that the prospect... 

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Harvest Natural Resources Commences Drilling Operations Antelope Project in Utah

Harvest Natural Resources, Inc. announced commencement of drilling operations on the Bar F No. 1-20-3-2 well on Harvest’s Antelope project located in the Uinta Basin of northeastern Utah. Mobilization of Unit Drilling Corporation Rig # 109 to the drilling location commenced in early June and the well is expected to spud approximately June 15. The permitted depth of this exploration well is 18,000... 

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