EQECAT, Inc., the leading authority on extreme-risk modeling, Saturday morning said, based on current storm information provided by the National Oceanic and Atmospheric Administration (NOAA), initial post-landfall estimated insured onshore losses from Hurricane Ike could range from $8 billion to $18 billion, primarily in the Texas counties of Brazoria, Harris, Galveston, Chambers and Jefferson.
This estimate [...]

New Stream Capital announced today that it has provided financing of $28.1 million to EBR Management LLC, an energy production company located in Sugar Land, Texas. The transaction is backed by oil and gas leases including 91 producing wells, 60 drilling locations covering numerous fields in Southern Texas and Louisiana, estimated net reserves of 21.6 [...]

Doral Energy Corp , an oil and gas exploration and production company, announced today that it has completed the acquisition of leaseholds on over 7,800 acres of producing oil and gas property on the northwestern end of the resource-rich Permian Basin in Eddy County, New Mexico (the “Eddy County Properties”). In order to complete the [...]

Best Energy Services, Inc. (OTC Bulletin Board: BEYS), a U.S. energy production equipment and services provider, today announced its financial results for the first fiscal quarter, ended April 30, 2008, including the results for subsidiaries Bob Beeman Drilling Company and Best Well Service, Inc., which were both acquired on February 14, 2008, and comparable results [...]

President Bush urged Congress to lift its long-standing ban on offshore oil and gas drilling, saying the U.S. needs to increase its energy production. Democrats quickly rejected the idea.
“There is no excuse for delay,” the president said in a statement in the Rose Garden. With the presidential election just months away, Bush made a pointed [...]

The U.S. Senate Tuesday rejected an attempt to expand offshore oil and gas drilling to allow the states to generate revenue.
The Republican-backed proposal would have allowed states to drill off their coasts and share revenues with the federal government, the (Newport News, Va.) Daily Press reported.
The amendment would have amended a federal ban prohibiting offshore [...]

ATP Oil & Gas Corp. plans to sell part of its stake in offshore oil production sites in the Gulf of Mexico and the North Sea. The sale covers a number of holdings that combined account for about 80 percent of ATP’s total proved and probable reserves.
The energy production company hired Scotia Waterous (USA) Inc. [...]

Synthesis Energy Systems Investments, Inc., a subsidiary of Synthesis Energy Systems, Inc. (”SES” or the “Company”) (OTC: SYMX), a coal gasification company involved in the conversion of low cost fuels into clean energy and chemical products, and Inner Mongolia Golden Concord (Xilinhot) Energy Co., Ltd., a subsidiary of Golden Concord Holdings Ltd. (”Golden Concord”), a [...]

Australia’s main opposition Labor Party has dropped its 25-year-old ban on new uranium mines, paving the way for industry expansion.
Delegates at the party’s annual conference voted today to support Labor leader Kevin Rudd’s motion to overturn the ban and allow the uranium industry to develop “under the most stringent conditions.” State governments have the power [...]

Top coal-burning countries like the United States should start burying carbon dioxide emissions from power plants as a wider crackdown on greenhouse gases looks increasingly likely, according to a study.
The U.S. government should help fund up to five demonstration projects that entomb emissions of the main gas scientists link to global warming, said the study, [...]