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 [...]

Laredo Petroleum, Inc., a privately-held oil and gas exploration and production company, announced today that it recently completed its acquisition of $185 million of strategic assets located in the Verden area of south central Oklahoma from Linn Energy. The transaction encompasses a total of 50,000 net acres and proven reserves of 45 billion cubic feet [...]

Hilde Merete Aasheim is leaving StatoilHydro ASA for a position as executive vice president for Aluminium Metal in Norsk Hydro ASA.
Ms Aasheim has held the position as executive vice president for corporate staffs and services since the establishment of StatoilHydro on 1 October 2007.
Hilde Merete Aasheim headed the efforts related to the integration process between [...]

State-controlled StatoilHydro ASA has recently told the press that a 37 percent rise in second-quarter profit Friday because of an increase in oil and gas prices and higher production.
The company, based in the western Norwegian city of Stavanger, said profit for the April to June period came to 18.77 billion kroner ($3.7 billion), up sharply [...]

Aluminum and energy group Norsk Hydro ASA told the press that its profit dropped 87 percent in the second quarter on falling sales and higher costs.Net profit was 786 million kroner ($155 million), down from 5.95 billion kroner in the same quarter last year.
Sales dropped 4 percent to 23.98 billion kroner ($4.72 billion) from 25.04 [...]

Norway’s Norsk Hydro has agreed with Australia’s United Minerals Corporation (UMC) to explore the possibility of bauxite mining and alumina refining in the Kimberley region of Western Australia.
“A final agreement would give Hydro a 75 percent holding in a potential bauxite and alumina project, in line with Hydro’s strategy to grow in primary aluminium production [...]

A new state-controlled offshore oil giant made up of Norway’s two key petroleum companies should be called StatoilHydro to end an ongoing debate over its name, the company boards recommended Wednesday.
In December, state-controlled Statoil ASA said it was acquiring the oil and gas operations of smaller rival Norsk Hydro ASA in a $30 billion deal [...]

Norsk Hydro ASA said Monday it will write down the value of its stake in the Front Runner field in the Gulf of Mexico by US$462 million (euro358 million) after taxes due to lower production and higher costs than expected.
The Oslo-based oil and light metals group owns a 25 percent stake in the deepwater field, [...]

Norsk Hydro ASA said it sees its oil and gas production in 2007 at 605,000 barrels of oil equivalent per day (boepd), rising to 700,000 in 2010.
In its capital markets day presentation today, the energy and metals group added it expects its primary aluminium production to be 1.73 mln tonnes in 2007 and 2.00 mln [...]

The Qatalum project, a 50% joint venture with Qatar Petroleum and Hydro, to construct a new primary aluminium plant in Mesaieed Industrial City, Qatar, is progressing according to schedule. Today QP and Hydro have signed a key contract with the Canadian company SNC-Lavalin International Inc, for the construction of the main buildings and related project [...]