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...
Gasco Energy Extends Credit Facility; Provides Update on Gate Canyon Test
Gasco Energy, Inc. announced an amendment to its Credit Agreement and provided an interim operations update on its Riverbend Project in Utah’s Uinta Basin. On December 10, 2008, the Company closed on an amendment to its Credit Agreement led by JPMorgan pursuant to which the maturity date of the facility was extended one year to March 29, 2011. The interest rate pricing grid was increased 0.25%...
Sharon announces acquisition of oil and gas leases on the Eagleford Shale trend in Texas
Sharon Energy Ltd. reported that the Company has acquired, over the last three months, approximately 5,400 gross acres in the Eagleford Shale play, located in Texas. Sharon and its partner have 4,250 net acres. Sharon has a 50 % working interest in the net acres and is the Operator of the project. Sharon’s acreage is on trend with the recently announced gas discovery by Petrohawk Energy Corporation...
Petrohawk Reduces 2009 Capital Budget, Focused on Haynesville and Fayetteville Development
Petrohawk Energy Corporation announced that it will reduce its 2009 capital budget by a third and reallocate spending to more heavily weight projects with the highest internal rates of return and highest potential for reserve growth, namely, development in the Haynesville and Fayetteville Shales. The shift allows the Company to further affirm its strong capitalization. The 2009 capital budget, which...
Vortex Resources Corp. to Acquire Barnett Shale Properties
Vortex Resources Corp. announced today that it has signed a Memorandum of Understanding (the “MOU”) to enter into a definitive asset purchase agreement with Blackhawk Investments Limited (“Blackhawk”), based in London, England. Blackhawk will exercise its exclusive option to acquire all of the issued and allotted share capital in Sandhaven Securities Limited (“SSL”), and its underlying...
Sterling Resources Ltd. announces planned drilling activity on the Craiova concession, onshore Romania
Sterling Resources Ltd. announce that it has reached an agreement in principle with TransAtlantic Petroleum Corporation (“TransAtlantic”) to farm out a 50% working interest in the large (1,500,000 acre) South Craiova Block E III-7 located onshore Romania. The agreement is subject to the completion of formal documentation and approval by the Romanian National Agency for Mineral Resources. This...
Sterling Resources Ltd. to increase interest in the Craiova concession, onshore Romania
Sterling Resources Ltd. report that it has reached agreement to acquire an additional 40% working interest in the large (1,500,000 acre) South Craiova Block E III-7 located onshore Romania. The agreement, which is subject to the completion of formal documentation and approval by the National Agency for Mineral Resources, is effective from July 1, 2008 and allows the transfer of the entire right, title...
JayHawk Energy Updates Drilling Activity on Cherokee Basin Project, Kansas
JayHawk Energy, Inc. is pleased to announce the continuation of its aggressive drilling program on their Cherokee Basin Project, located in Southeast Kansas. As previously released, unfavorable weather conditions has hindered drilling operations in the Kansas area, precluding drilling activity over the last several months. JayHawk will commence drilling 20 new targets starting Monday, July 14, with...
EnerCom, Inc. Announces Presenting Companies for The Oil & Gas Conference(R) August 10-14, 2008
EnerCom, Inc., announced today the lineup and schedule for The Oil & Gas Conference®, http://www.theoilandgasconference.com. In its 13th year, the Conference, held in Denver Aug. 10-14, is the oldest and largest energy investment conference hosted in Denver, showcasing more than 70 companies with a combined enterprise value of more than $500 billion. This premier forum offers institutional investors,...
JayHawk Energy Inc Announces Significant Increase in Monthly Revenue
JayHawk Energy, Inc. President & CEO Lindsay Gorrill is proud to announce an increase in monthly revenue to the shareholders of JayHawk Energy. “With the combined properties of Southeast Kansas Cherokee Basin coal-bed methane and North Dakota Williston Basin light oil, our monthly net revenue is currently $130,500, which is 43.4% greater than previous monthly net revenue of $91,000,” Mr. Gorrill...
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