AB Resources Gears Up to Aggressively Exploit the Marcellus Shale
AB Resources LLC has taken steps to enhance the technical expertise required to explore and develop the Company’s extensive acreage position 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 is poised to become a leading operator in Marcellus...
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...
Anadarko Announces Ghana Test Well Flows Nearly 17,000 Barrels of Oil Per Day
Anadarko Petroleum Corporation announced a successful drillstem test (DST) at the Hyedua-2 appraisal well in the deepwater Jubilee field offshore Ghana. The well, located in approximately 4,090 feet of water on the Deepwater Tano License, flowed at a stable rate of 16,750 barrels of 37-degree API gravity crude oil and approximately 21 million cubic feet per day of associated natural gas from a single...
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%...
Occidental Petroleum Corporation and Mubadala Development Company Sign EPSA to Develop Gas Fields in Oman
Occidental Petroleum Corporation and Mubadala Development Company of Abu Dhabi (Mubadala) announced the signing of an Exploration and Production Sharing Agreement with the Ministry of Oil and Gas in the Sultanate of Oman. Under the terms of the EPSA, the parties will develop four existing gas fields and explore for potential new discoveries in a newly formed contract area (“Habiba” –...
StatoilHydro forms strategic alliance with major US gas player
StatoilHydro, the second largest natural gas supplier to Europe and Chesapeake Energy Corporation, the largest US natural gas producer, today announced the signature of a strategic agreement to jointly explore unconventional gas opportunities worldwide. Under these agreements StatoilHydro will initially acquire a 32.5% interest in Chesapeake’s Marcellus shale gas acreage covering 1.8 million...
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...
Dubai World forms Dubai Natural Resources World
In response to tremendous growth opportunities in global natural resources business sector, Dubai World today announced the formation of a new business unit, Dubai Natural Resources World, designed to explore new long-term investment avenues, while contributing positively towards sustainable development. Dubai Natural Resources World will drive the growth of the Group’s interests across the entire...
Arctic Oil & Gas Corp.: Government Officials Should Vote for Energy Prosperity, Not Energy Poverty
Arctic Oil & Gas Corp. (351 million shares issued), a petroleum exploration company, is pleased to announce that the Company and partners have proposed $2.50 gasoline, 30% discounted natural gas and hundreds of millions of dollars in royalties to Santa Barbara County from a proposed, (40% AOAG equity) Santa Barbara OCS-State petroleum lease development project, on known oil accumulations containing...
Sasol to Explore for Hydrocarbons in Papua New Guinea
Sasol Petroleum International (SPI) has obtained a 51% working interest in four hydrocarbon prospecting licenses covering a land area of 37 000 square kilometers, close to established gas fields in the “foreland” area of Papua New Guinea. Seismic surveying is scheduled to commence in October 2008. The exploration work will be carried out by newly formed Sasol Petroleum Papua New Guinea...
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