Laredo Petroleum, a rapidly growing independent oil and gas company with headquarters in Tulsa, Oklahoma, today announced that it has closed a second round of equity financing of up to $300 million with Warburg Pincus LLC, the global private equity firm, along with Laredo Petroleum’s senior management team. Funding of this line of equity will [...]
egacy Reserves LP announced that it has no hedging or other contractual counterparty exposure to Lehman Brothers Holdings Inc., its subsidiaries or its affiliates.
Legacy is an independent oil and natural gas limited partnership headquartered in Midland, Texas, focused on the acquisition and development of oil and natural gas properties primarily located in the Permian [...]
Mexco Energy Corporation announced it has purchased from Corlena Oil Company, its Carpenter #1 well. Said well is 1.6 miles west-northwest of the Company’s Mexco Steelhead #1 well in Loving County.
Nicholas C. Taylor, President and CEO of Mexco Energy Corporation, said, “The purchase of this leasehold furthers the Company’s ongoing efforts to acquire oil and [...]
Arena Resources, Inc. announced that it has finalized the lease of office space in Midland, Texas, with an anticipated opening date by the end of October. Mr. Will Porter has joined Arena as Permian Basin Land Manager and will manage the new office.
Mr. Porter, a Midland native, has over 23 years of experience in all [...]
Providence Resources, Inc., announced that its wholly owned subsidiary Providence Exploration, LLC has entered into prospect participation and joint operating agreement with Elm Ridge Exploration Company, LLC (“Elm Ridge”), a New Mexico based oil and gas exploration company. Under the agreement Elm Ridge acquired a 50% interest in the Val Verde Prospect in exchange [...]
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 [...]
Legacy Reserves LP is reported to have announced to the public that the board of directors of its general partner has approved a cash distribution attributable to the second quarter of 2008 of $0.52 per unit, payable on August 14, 2008 to unitholders of record at the close of business on August 1, 2008. This [...]
STW Resources, Inc. (“STW”) announced that it has brought on the following influential outside directors to advise it on its oil and gas water recycling operations. “These directors are key legislative and industry advisors who bring unique contributions to STW’s future success,” said Stanley T. Weiner, STW’s Chairman and Chief Executive Officer.
The Honorable Bill Carter [...]
Drilling company Grey Wolf Inc. has turned down Precision Drilling Trust’s third unsolicited buyout offer.
In its third proposal, received June 24, Calgary-based Precision proposed to acquire all Houston-based Grey Wolf’s stock for $10 a share. The proposal contained a statement saying it was the company’s final offer for Grey Wolf .
The board of directors [...]
Shares of ethanol producers dropped after a Citi Investment Research analyst said some small to mid-size companies might have to shut down soon after severe flooding in the Midwest boosted corn prices.
Analyst David Driscoll said the floods caused “irreparable damage to this year’s crop” and pushed prices up, harming ethanol margins.
“As a result of [...]
