Jura Announces Further Results from Kandra 4D Well, Upcoming Drilling at Badin IV North and Mirpur Mathelo, and Closing of Farmout Transaction

Jura Energy Corporation announced that the Kandra 4D exploration well has been suspended. The Weatherford drilling rig has been released and will be mobilized to the Badin IV North block for drilling of the Jamali Deep well, which is expected to commence prior to the end of the year. The Kandra 4D well was drilled to a total depth of 2229 m. The well targeted three potential hydrocarbon-bearing zones,... 

Cadre Services Expands Operations to Northern Louisiana

Cadre Services, Inc announced the expansion of its operations to Northern Louisiana. The new regional operation, with facilities in Bossier City, will provide the full complement of Cadre services to customers in this growing energy-producing region. These services include oilfield construction, pipeline services, pump and fabrication services and material products. Joe Cucinotta has been named Location... 

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Petromin begins production testing on two recently completed discovery wells

Further to our June 02, 2008 news release, Petromin Resources Ltd. announce that it has now completed nine successful multi oil and gas wells, on its Redwater lands in Central Alberta. The Company retains a 25% – 50% working interest in the first 7 wells. The Company also retains an 11% GORR on its two new discoveries recently drilled at no cost to the Company. These discoveries are now being... 

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World Oil Awards Winners Announced

World Oil® magazine announced the thirteen winners of the 2008 World Oil Awards at the seventh annual black-tie gala dinner last night in Houston, Texas. The event, attended by close to 350 industry leaders, benefited two universities that offer programs leading to careers in the petroleum industry. Frank Springett of National Oilwell Varco won the inaugural Next Generation Committee Award for his... 

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LeTourneau Obtains $74 Million

Rowan Companies, Inc. has recently reported that the company has announced today that its wholly owned manufacturing subsidiary, LeTourneau Technologies, Inc. (LTI), has entered into a contract with Weatherford Drilling International (BVI) Ltd. to construct four new 2000 horsepower land drilling rigs, at a total value of $74.4 million. Construction is expected to start immediately with delivery of... 

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LeTourneau Obtains $74 Million Contract for New Land Rigs

Rowan Companies, Inc. announced that its wholly owned manufacturing subsidiary, LeTourneau Technologies, Inc. (LTI), has entered into a contract with Weatherford Drilling International (BVI) Ltd. to construct four new 2000 horsepower land drilling rigs, at a total value of $74.4 million. Construction is expected to start immediately with delivery of the first land rig in the third quarter of 2008,... 

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Lehman Raises Oil Services Price Targets

A Lehman Brothers analyst raised his price targets on 37 companies in the oil services and drilling sector, seeing a strong recovery in 2008 and 2009 for North American natural gas drilling along with significant international growth over the next few years. Analyst James Crandell’s top picks in the sector are Weatherford International Ltd., Halliburton Co., Schlumberger Ltd., Tidewater Inc.,... 

Is Particle Drilling’s Technology Worth a Drill Bit?

Particle Drilling Technologies Inc , based in Houston, Texas, is a development-stage oilfield service company in the process of commercializing its patented advanced drilling technology known as Particle Impact Drilling [PID]. Unlike earlier particle recovery systems, PID technology does not require high surface pressures””up to 11,000 psi””in order to give the small particle the velocity... 

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Halliburton’s income rises as U.S. drilling increases

Halliburton Co., the world’s second-largest oilfield-services company, said third-quarter profit rose 22 percent on increased U.S. natural-gas drilling. Net income rose to $611 million, or 58 cents a share, from $499 million, or 48 cents, a year earlier, the Houston-based company said in a statement Sunday. Halliburton was expected to earn 54 cents, the average estimate from 23 analysts surveyed...