XTO Energy is acquiring oil producing properties and undeveloped land from Headington Oil for $1.85 billion in cash and stock.
XTO Energy Inc. will buy 352,000 acres of Bakken Shale land in Montana and North Dakota. XTO estimates there are 68 million barrels of oil equivalent in proved reserves on the land. The acquisition will increase [...]

Continental Resources, Inc. announced initial results from its Bice 1-29H well completed in the Three Forks/Sanish formation in the North Dakota Bakken Shale area. The Dunn County well, in which Continental has a 41% working interest, is the Company’s first well to be completed in the Three Forks/Sanish formation. Previous wells drilled by the Company [...]

XTO Energy says it is acquiring oil producing properties and undeveloped land from Headington Oil for $1.85 billion in cash and stock.
XTO Energy Inc. said Wednesday it will buy 352,000 acres of Bakken Shale land in Montana and North Dakota from privately held Headington Oil Co. XTO estimates there are 68 million barrels of oil [...]

A new study from consultants Wood Mackenzie finds consolidation in the energy industry tends to boost shareholder value rather than diminish it.
The report analyzed the strategy used and value created in deals completed by 38 companies between 2001 and 2006. The companies included major oil companies, independents, Asian national companies and Russian players.
The 195 transactions [...]

Independent oil and gas producer Anadarko Petroleum Corp. says it will stick with its production outlook for the year, despite delays in the repair of a natural gas pipeline.
The company still expects to produce 207 million to 212 million barrels of oil equivalent for the year. In 2007, the company reported total sales from retained [...]

The energy world sat up and took notice earlier this month when the head of Brazil’s National Petroleum Agency said a new offshore find could hold an incredible 33 billion barrels of oil equivalent.
Haroldo Lima caught a lot of criticism for that from state-run Petrobras, which said it had not yet quantified reserves in that [...]

Shares in UK natural gas producer BG Group Plc jumped nearly 6 percent as investors started betting on the potential size of the Carioca oil discovery in Brazil after the chief of the country’s petroleum agency revealed the site could be holding around 33 billion barrels of oil equivalent, making it one of the world’s [...]

Anadarko Petroleum Corp. raised its production target for 2008. The Houston company now expects to produce 207 million to 212 million barrels of oil equivalent, up from the previous range of 205 million to 210 million barrels.
The production increase came with a boos in Anadarko’s capital budget — by $400 million to a range of [...]

Shares of Brazil’s state-run oil company Petrobras had a good run Tuesday after shareholders approved a 2-1 split for its Brazil-traded shares, as well as its American Depositary Receipts (ADRs), effective April 25.
Petrobras shares in New York rose $5.40, or 5.5 percent, to $103 in afternoon trading.

Great Plains Exploration Inc. and RedStar Oil & Gas Inc. have announced an agreement under which Great Plains will take over RedStar in an all-stock transaction valued at about $30 million.
Under the pre-acquisition deal announced yesterday, Great Plains will offer 0.9 share for each RedStar share tendered to the bid.
Total payment will amount to [...]