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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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... 

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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... 

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Volga Resources Raises Stake in Novatek to 18.2%

Volga Resources SICAV-SIF S.A, the Luxembourg-based investment fund, announces that it has agreed to purchase 13.13% of the issued share capital of OAO Novatek from Cartagena Development Inc. which is indirectly controlled by Novatek’s management. This transaction will take Volga’s total holding in Novatek to 18.2%. The founder and largest shareholder of Volga, Guennadi Timtchenko was... 

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Forest Oil Announces Pricing of Common Stock Offering

Forest Oil Corporation, a company engaged in the acquisition, exploration, development, and production of natural gas and liquids in North America and selected international locations today announced that it has priced its previously announced public offering of 12,500,000 shares of its common stock at a price to the public of $18.25 per share. The Company has granted the underwriters a 30-day option... 

AB Resources Enhances Its Marcellus Shale Production Team

AB Resources LLC, a rapidly growing oil and gas exploration and development company, has moved to enhance the Company’s ability to produce and transport natural gas from its current and future wells in the Marcellus Shale formation. The Marcellus Shale, a gas-productive formation spread across Pennsylvania and West Virginia, has become the premier natural gas play in the Appalachian Basin. AB Resources... 

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Gateway Energy Acquires Net Profits Interest in Madisonville Gas Field

Gateway Energy Corporation announced that it has acquired a 9.1% net profits interest in certain leases and wells in the Madisonville, Texas gas field for $762,450. The effective date of the acquisition is September 1, 2008. The NPI covers production from certain identified leases and wells owned by operated by Redwood Energy Production, L.P. (“Redwood”) in the Madisonville Field insofar... 

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ExxonMobil Technology Yields Worlds Largest LNG Carrier

Exxon Mobil Corporation’s technology leadership in liquefied natural gas or LNG has resulted in an industry breakthrough in carrier design and size, enabling the more efficient transport of natural gas to markets throughout the world. The recent completion of the world’s first Q-Max LNG carrier, named ‘Mozah,’ marks a step change in LNG shipping by reducing transportation cost, while improving... 

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Callon Petroleum Company Provides Operations Update

Callon Petroleum Company announced that after previously being shut-in due to third-party downstream transmission line and processing facility damage caused by Hurricanes Gustav and Ike, production has resumed at most of its significant facilities located in the Gulf of Mexico. The Company expects remaining shelf facilities, which are shut-in, to be online within the next several weeks. This should... 

GE, Sasol Sign Service Agreement for New Power Project That Could Help Ease South Africas Energy Crisis

GE Energy announced today that it has signed a 15-year service agreement with South African oil and gas company Sasol. Under the agreement, GE Energy will provide around-the-clock monitoring and diagnostics of Sasol’s new power plant in Secunda, which could help ease South Africa’s energy crisis. South Africa, which has Africa’s largest economy, is in the grip of an electricity supply crunch.... 

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