Canadian natural gas and oil producer Compton Petroleum Corp. will sell four energy-producing properties for a total of $218 million.
The Calgary-based company did not name the buyers for the sites, which produce the combined equivalent of 3,700 barrels of oil per day. More than half of the production — 14.3 million cubic feet a day [...]

-Tri-Valley Corporation announced that it has established an alliance with Excalibur Well Services, Inc of Bakersfield, California and has sold all of its 100% owned Great Valley Production Services production rigs and equipment to Excalibur as part of an advantageous arrangement. The sale price was not disclosed.
“We originally formed Great Valley Production Services LLP because, [...]

Atlas Energy Resources LLC said Friday it has drilled four successful horizontal wells in the Chattanooga Shale of Eastern Tennessee.
The results suggest wells can be drilled in the deposit at a cost of about $1.1 million apiece, and that they are capable of producing the equivalent of 300,000 to 500,000 cubic feet of gas per [...]

Citi Investment Research analyst Faisel Khan says the EIA report shows low refinery utilization has reduced inventories of gasoline, “but with crude rally continuing, refining stocks remain under pressure.”
Most refiners’ shares fell in afternoon trading. Holly Corp. lost 56 cents at $40.36. Valero Energy Corp. gave up 24 cents at $44.36, and Tesoro Corp. dropped [...]

ArcelorMittal welcomes the allocation of a mining lease in respect of the Karampada iron ore deposit to the Company by the Governments of India and Jharkhand for its integrated steel plant to be based in Jharkhand.
The Karampada iron ore deposit is located in West Singhbhum district of Jharkhand with estimated reserves of 65 million tons [...]

XTO Energy Inc. will buy privately held Hunt Petroleum Corp. for $4.19 billion in cash and stock in a deal.
XTO Energy said the deal includes $2.6 billion in cash and 23.5 million shares of XTO stock. The stock portion of the deal is valued at about $1.6 billion, or $67.50 per XTO share.
The sale would [...]

AUSTRALIAN iron ore producers, arguing for a freight premium to be included in this year’s contract prices with reluctant Chinese steelmakers, are expected to shrug off the emergence of a new iron ore exchange market created by Deutsche Bank and Credit Suisse.
The exchange gives smaller Chinese steel producers a chance to hedge their costs in [...]

ArcelorMittal, the world’s largest and most global steel company, today announced that it has signed an agreement to acquire Bakermet, a market leader in the scrap metal recycling industry in Eastern Ontario, Canada.
Bakermet, which specializes in all types of ferrous and non-ferrous metal, processed approximately 130,000 short tons of ferrous and 40 million pounds of [...]

China Shen Zhou Mining & Resources, Inc. (American Stock Exchange: SHZ; “China Shen Zhou”, or “the Company”), a leading company engaged in the exploration, development, mining and processing of fluorite, zinc, lead, copper, and other nonferrous metals in China, today announced that Ms. Jessica Yu, China Shen Zhou’s Chairwoman and CEO, will ring the American [...]

Cabot Oil and Gas will buy 25,000 acres of oil-producing properties in east Texas, as well as production infrastructure, for $602.8 million.
The purchase was from a private party, Cabot said, and is near existing Cabot properties in the Minden area.
Cabot estimated the purchased fields have proved reserves of 176 billion cubic feet of equivalent.
“We view [...]