Cano Petroleum, Inc has recently told the press about the results of its Fiscal Year End Reserves as prepared by Miller and Lents, Ltd., its new independent petroleum engineer. Proved developed producing (PDP) reserves increased 25% to 10.6 million barrels of oil equivalent (BOE) up from 8.5 million BOE (after FY ’08 production of 0.5 [...]
Oilfield services provider Schlumberger Ltd. reporting a nearly 13 percent jump in profit driven by robust spending among customers searching for new sources of crude and natural gas. Unless the global economy goes into the tank, Schlumberger said it expects continued brisk spending on exploration and production as energy companies try to benefit from high [...]
Petroleum companies are facing the hardest time with its biggest two-day drop in 17 years. Crude oil fell over $4 a barrel on Wednesday. A surprise increase as the government announced and showed the data, especially in The U.S. James Williams, an economist at energy research firm WTRG Economics, said that If there is [...]
Most investors have focus on mining sectors like oil, coal and steel price. Copper which is so far hasn’t been able to attract investors’ attention recently started to steal some investors’ attention with its better price in the market. copper prices have quietly hung in and held the breakout in the weekly chart. The persistent [...]
Ben Bernake, Federal Reserve Chairman, stated that the U.S. economy is facing “significant” risks to growth, while the Organization of Petroleum Exporting Countries lowered its forecast for world oil-demand growth for 2008 and 2009. in apart chances John Kilduff, an analyst at futures brokerage MF Global, said “Signs of economic contraction and financial-market malaise are [...]
After the Federal Reserve chairman sounded bleak notes on the U.S. economy, and world supplies loosened a bit, Crude-oil futures sank more than $6 a barrel Tuesday. After the U.S. opened its Strategic Petroleum Reserve at the onset of the first Gulf War.Light, sweet crude for August delivery settled down $6.44, or 4.4%, at $138.74 [...]
Austral Pacific Energy Ltd. Austral announces the results of its Cheal-A7 well which reached a total depth of 1848m on July 10th, 2008. The well intercepted 7 meters of oil-bearing sands in the MM3 Formation as prognosed at approximately 1695m MD and the MM2 sand at 1730m.
The current Cheal wells program was designed to test [...]
Oil prices finished about where they began, after jumping more than $2 earlier on reports of lower U.S. oil stockpiles and an Iranian missile test.
Light, sweet crude for August delivery rose a penny to settle at $136.05 a barrel on the New York Mercantile Exchange, but prices shifted between positive and negative territory as traders [...]
