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 net acres (7,300 [...]

XTO Energy Inc. announced production results from wells drilled in multiple regions on its newly acquired property base. In the Bakken Shale play of North Dakota, the Company has now completed 5 wells with average production rates of 673 barrels of oil equivalent per day, primarily producing from the Middle Bakken shale section. In addition, [...]

XTO Energy Inc. has completed its previously announced merger of privately-held Hunt Petroleum Corporation and other associated entities into a wholly-owned subsidiary for approximately $4.2 billion. Consideration in the transaction included about $2.6 billion in cash and 23.5 million shares of XTO common stock.
“We have now closed our purchase of this legacy franchise of quality [...]

Allied Resources, Inc., an independent oil and gas producer, posted record financial results for the first half of 2008 due primarily to an increase in oil revenues.
Oil and gas revenues for the first six months of 2008 increased 78% to $693,152 from $390,292 for the comparative period in 2007. Income, before provision for income taxes, [...]

Shares of Consol Energy Inc has recently been reported falling sharply Thursday after the coal mine operator said its second-quarter profit dipped 34 percent as productivity problems pushed up costs.
Pittsburgh-based Consol said it earned $101 million, or 54 cents per share, in the quarter. Consol earned $153.1 million, or 83 cents per share, in the [...]

Natural gas producer CNX Gas Corp. has just published a report saying that profit soared 55 percent in the second quarter on record production, but results came in below Wall Street estimates.
CNX, which extracts methane gas from coal beds in the Appalachian Basin, said it made $64.3 million, or 42 cents per share, for the [...]

El Paso Corporation announced an expansion of the Colorado Interstate Gas Company (CIG) natural gas pipeline transmission system that serves the Raton Basin. CIG’s Raton Expansion will provide approximately 130 million cubic feet per day (MMcf/d) of incremental firm capacity from the Las Animas County, Colo., area of the growing Raton Basin northward along the [...]

Cabot Oil & Gas Corporation announced that it has priced a public offering of 4,350,000 shares of its common stock at price to the public of $65.27 per share. The size of the offering represents an increase over the 3,600,000 shares that the Company had previously announced. Proceeds of the offering are expected to [...]

Oil and natural gas producer Stone Energy Corp. plans to buy Bois d’Arc Energy in a cash and stock deal valued at about $1.8 billion, including debt.
Bois d’Arc stockholders will get $13.65 in cash and 0.165 shares of Stone stock for each share of Bois d’Arc they own. The offer price values the company at [...]

In a Rose Garden speech, President Bush proposed stopping the growth of the nation’s greenhouse gas emissions by 2025 and urged other industrialized nations to set goals to address climate change.
While setting a broad goal, the president offered only a general outline — and few specifics — about how to achieve the objectives.
Friedman, Billings, Ramsey [...]