Chevron Corporation announced that its wholly owned subsidiary, PT. Chevron Pacific Indonesia, has started producing crude oil from the North Duri Field Area 12 in Indonesia, where Chevron produces nearly half the nation’s crude oil.
First oil was achieved on Nov. 14, 2008, and production is projected to increase to 34,000 barrels of crude oil per [...]
Peabody Energy announced it has entered into a sales agreement for its 62.5 percent interest in the Baralaba Mine in Australia with Cockatoo Coal Limited.
Peabody is receiving approximately US$33.6 million [A$52.5 million] for its interest in Baralaba, which has approximately 1.5 million tons of remaining reserves and produced approximately 330,000 tons of thermal and PCI [...]
Denison Mines Corp. announced that the owners of the Midwest joint venture consisting of AREVA (69.16%), OURD (5.67%) and Denison (25.17%) have determined that the development of the Midwest Project will be postponed due to current economic conditions. The status of the project will be reviewed every six months.
The postponement is a result of the [...]
Nebu Resources Inc. announce that it has signed an Option to Purchase Agreement with Portage Minerals Inc. to acquire Portage’s option to earn a 70% interest in 5 patented and 19 unpatented mineral leases in Mineral County, Nevada. The agreement is subject to regulatory approval.
Nebu has agreed to pay to Portage a total of [...]
Chesapeake Energy Corporation announced the closing of its Marcellus Shale joint venture transaction with StatoilHydro. Chesapeake sold a 32.5% interest in its Marcellus Shale assets in Appalachia for $3.375 billion of consideration and retained a 67.5% working interest. The assets included approximately 1.8 million net acres of leasehold, of which StatoilHydro now owns approximately [...]
Beacon Redevelopment Industrial Corporation has reviewed a summary of its initial consultation regarding its natural gas rights of its Westmoreland property. Beacon, along with its geological consultants, are continuing the evaluation of the company’s resources at that location.
The initial review revealed that it appears there may be a more feasible way to install modern gas [...]
Over the past several weeks, Atlas Energy has successfully pioneered the use of a two-stage frac design for five of its vertical wells as part of its Marcellus Shale drilling program in southwestern Pennsylvania. Using this frac design, the Company has averaged initial rates of production for 24 hours into a pipeline of 2.1 million [...]
Quaterra Resources Inc. announces that it has secured an option with the Willow Creek Discovery Group, LLC, to acquire 100% of the Willow Creek porphyry molybdenum prospect in southwestern Montana, 40 miles southeast of Missoula and 10 miles northwest of Phillipsburg.
The Willow Creek prospect is located within the prolific northeast-trending Idaho-Montana porphyry belt, which includes [...]
Stillwater Mining Company, United Steel Workers and its Local 11-0001, East Boulder Unit announced today that they have reached a tentative agreement on changes to the current Collective Bargaining Agreement that are impacted by the Company’s restructuring plan.
Eligible union members will vote on the tentative agreement on Wednesday, November 26, 2008 at their regularly scheduled [...]
New Asia Gold Corporation announce that it has agreed to acquire equipment and technology that the Company estimates will reduce extraction costs by as much as 12% ($30 US per ounce). This technology also reduces the environmental impact of mining the gold. The technology and equipment has been evaluated and recommended by third party companies. [...]
