Gentor Resources Inc. closes acquisition of APM Mining Limited
GENTOR RESOURCES, INC. announce the acquisition of APM Mining Limited pursuant to the closing under the Share Exchange Agreement dated February 23, 2010 between the Company, APM Mining and Arabian Peninsula Projects Ltd. As a result of the acquisition, the Company, through its wholly owned subsidiary, APM Mining, holds the earn-in rights to the Block 5 and Block 6 copper exploration projects located...
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%...
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...
RedHawk Energy Acquires Xxtreme Group for $66.0 Million
RedHawk Energy Corporation announced that it has acquired 100% of the membership interests of Texas-based Xxtreme Pipe Services, LLC, Xxtreme Pipe Storage, LLC, Xxtreme Tubular Processors, LLC and Wolf Pack Rentals, L.L.C. (collectively, the “Xxtreme Group”) for $66.0 million in cash, preferred stock and assumed debt. The purchase price is subject to certain post-closing adjustments. Headquartered...
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...
Crosstex Energy Acquires Eunice Natural Gas Liquids Processing Plant, Fractionation Facility for $42 Million
The Crosstex Energy companies, Crosstex Energy, L.P. and Crosstex Energy, Inc., announced that the Partnership has acquired the Eunice natural gas liquids (NGLs) processing plant and fractionation facility from Phillip Morris for approximately $42 million, which includes $18 million of assumed debt. Previously, Crosstex managed the plant and facility, which are located in south central Louisiana, under...
Global Industries Awarded US$ 70 Million Project in Brazil
Global Industries, Ltd. announced that its Brazil Business Unit has signed a contract with Petroleo Brasileiro S.A. (Petrobras) for diving, ROV and construction services to be performed offshore Brazil, in the areas of Campos, Santos and Espirito Santo basins. The 180-day contract is valued at approximately US$ 70 million and has an option for an extension of up to six additional months. John Clerico,...
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...
K.P. Kauffman Company, Inc. Wins Lawsuit Defending Sale of Natural Gas
K.P. Kauffman Company, Inc., (KPK) prevailed in a class-action royalty underpayment case tried in Denver District Court. The jury returned its verdict in KPK’s favor on Monday, June 8, 2009, in the case of Helen Mleynek v. K.P. Kauffman Company, Inc. The win for KPK is a victory for natural gas producers in the state of Colorado. KPK successfully argued that it fulfilled its duty to market natural...
Imperial Oil approves Kearl oil sands project
Imperial Oil Limited announced its board of directors has approved the first phase of the Kearl oil sands project, a surface mining operation northeast of Fort McMurray, Alberta. The Kearl project is envisioned to be developed in three phases and could ultimately produce more than 300,000 barrels a day of bitumen. The first phase of the project, expected to begin production in late 2012 with total...
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Philex Gold Receives Interim Order for Transaction With Philex Mining Corporation
Philex Gold Inc. announced that it has obtained an interim order from the Ontario Superior...
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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