News Archive for Oil and Gas News

Obama pledges to triple oil response manpower in Gulf

US President Barack Obama has ordered a tripling of manpower in coastal areas where oil has washed ashore or threatens to within 24 hours. Read more…

Canacol Energy Ltd Provides Operations and Production Update From Its Operated Rancho Hermoso Field in Colombia

Canacol Energy Ltd. (“Canacol” or the “Corporation”)(TSX VENTURE:CNE) is pleased to provide an update of its development drilling program and production at its operated Rancho Hermoso field located in the Llanos Basin of Colombia, where the Corporation has a 100% operated working interest. The Corporation’s worldwide production is approximately 3,240 barrels of oil per day (“bopd”), which consists of 1,890 bopd net production and 1,350 bopd of tariff production. Of total production, the Rancho Hermoso field is producing 1,461 bopd of net royalty interest production and 1,350 bopd of tariff production, for a total of 2,811 bopd. The remainder of the Corporation’s production is derived from its operated Entrerrios field in Colombia, its non-operated Capella field in Colombia, and its non-operated producing fields in Brazil. Read more…

Maximise Your Time at ADIPEC 2010 with a Personal Planner

ADIPEC 2010, the Abu Dhabi International Petroleum Exhibition & Conference, has further enhanced its visitors’ experience prior to, during and after the event with the newly launched ‘MyADIPEC’.  The online application is a personal planner, which allows access to floor plans, scheduled conference and event details as well as the opportunity to contact exhibitors directly. Read more…

Logical Fix for the BP Oil Spill Just a Few Days Away

 It’s time for outside experts to take over, now that a foreign-owned company’s efforts have failed to fix the horrendous environmental catastrophe it created. A Texas oil rig and pipeline expert has developed a solution that could stop the underwater gusher in a matter of days. Details of this “logical fix” are now available online. Read more…

East Resources Inc. Announces Sales Agreement with Royal Dutch Shell plc

East Resources, Inc. (“East Resources” or “the company”), a Pennsylvania-based independent oil and gas producer and one of the most active explorers in the Marcellus Shale, along with its private equity investor Kohlberg Kravis Roberts & Company, signed a definitive agreement to sell the company’s principal subsidiaries to an affiliate of Royal Dutch Shell plc (“Shell”) for cash consideration of $4.7 billion. The sale includes East’s natural gas and oil exploration and production operations and most of its holdings in related businesses. With the purchase of East Resources, Shell will acquire approximately 650,000 net acres of Marcellus Shale rights in Pennsylvania, West Virginia and New York, and 1.05 million acres in total. Read more…

Zenith pioneers down hole sensor technology to operate at temperatures hotter than planet Venus!

Scots based Zenith Oilfield Technology Limited is revealing tests on new technology set to monitor well pressure and temperatures up to 500 Celsius. Read more…

TNK-BP Acquired Ukrainian Retail Network “Vik Oil”

TNK-BP announces completion of a deal to acquire 100% of “Vik Oil” group of companies in Ukraine. “Vik Oil” owns 118 fuel stations in thirteen Ukrainian regions, as well as 8 oil depots, 49 petrol tankers and 122 land plots in various stages of development. Read more…

Petrobras – Press Release: 1Q10 Earnings of US$ 4.3 bi in US GAAP.

Rio de Janeiro, May 28, 2010 Petróleo Brasileiro S.A. – Petrobras announces its consolidated results of the First Quarter 2010 (1Q10), in accordance with generally accepted accounting practices in United States (US GAAP). Read more…

Update on Gulf of Mexico Oil Spill – 29 May

BP started the “top kill” operations to stop the flow of oil from the MC252 well in the Gulf of Mexico at 1300 CDT on May 26, 2010. Read more…

Americas Petrogas Inc Financing for Vaca Mahuida Drilling

Americas Petrogas Inc. (“Americas Petrogas” or “Company”) (TSX VENTURE:BOE) is pleased to announce that it has finalized a loan agreement with its private joint venture industry partner to finance its past costs and future commitments relating to its farm-in acquisition of a 25% interest in the 253,000 acre (approximately 1,025 square kilometers) Vaca Mahuida block. The Vaca Mahuida block is located immediately south of Medanito Sur operated by Americas Petrogas, in Argentina’s Neuquen Basin. Read more…

Newton Energy Corporation Announces Interim Results for 2010

Newton Energy Corporation (the “Company” or “Newton”) (TSX VENTURE:NTN) is pleased to report its financial results for the three months ended March 31, 2010. The interim financial statements and Management’s Discussion & Analysis were filed today on SEDAR at www.sedar.com. Read more…

AltaGas Signs Electricity Purchase Agreement for Northwest BC Run-of-River Project

 AltaGas Income Trust (AltaGas or the Trust) (TSX:ALA.UN) today announced that it has, through an indirect wholly owned subsidiary, signed a 60-year CPI indexed Electricity Purchase Agreement (EPA) with BC Hydro for its 195-MW Forrest Kerr run-of-river hydro-electricity generation project. The construction site is located in northwest British Columbia, approximately 100 km north of Stewart, BC. AltaGas expects the Forrest Kerr Project to be the first of three run-of-river power generation projects in the area, and is continuing development of its McLymont Creek and Volcano Creek projects.
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Excitement in South Arkansas — Avro Acquires Deep Well and 160 Acre Oil Lease

Avro Energy, Inc. (OTCBB:AVOE). The Company is excited to announce it has acquired the Dickson Heirs Oil Lease located in Kiblah, South Arkansas. This Lease consists of  the Dickson Heirs No. 1 Deep Oil Well and 160 Acre Oil Lease located inSouth Arkansas. Read more…

Petrominerales Announces Light Oil Discovery on the Castor Block and Provides an Operational Update

Petrominerales Ltd. (“Petrominerales” or the “Company”) (TSX:PMG), a 66% owned subsidiary of Petrobank Energy and Resources Ltd. (TSX:PBG), is pleased to provide an operational update highlighted by successful test results from our Capybara-1 and Corcel-C2 oil wells in the Llanos Basin of Colombia. Read more…

Neste Oil’s acquisition of Lithuanian fuel stations closed

The Lithuanian competition authorities have approved the acquisition transferring 22 unmanned fuel stations from Alexela Oil AS to Neste Oil. The deal increases the number of Neste Oil’s fuel stations in Lithuania to 59 and market share to approximately 15 per cent. After receiving the approval from the competition authorities Neste Oil starts integrating the new stations into its service station network. Read more…

Aker Solutions ASA (NO) – Aker Solutions wins two drilling equipment contracts

Aker Solutions has been awarded two contracts with Daewoo Shipbuilding & Marine Engineering Co Ltd (DSME) in South Korea for the delivery of two drilling equipment packages.  The total contract value for Aker Solutions is approximately USD 180 million. Read more…

Sanjel’s Fracturing Fleet Now 245 000 Hydraulic Horsepower as Company Commits to an Additional 70 000 HHP

Sanjel Corporation is pleased to announce that with the recent commitment of approximately 70,000 hydraulic horsepower (HHP) the company’s fracturing capacity is now in excess of 245,000 HHP, with over 185,000 HHP dedicated to Canada. Read more…

Air Force Selects Schafer to Research Effectiveness of Concentrated Photovoltaics

Schafer Corporation (“Schafer”), a scientific analysis and engineering company, announced today it has been selected to lead an industry consortium in a research and development effort to investigate and demonstrate the viability of Concentrated Photovoltaic technology for terrestrial power generation. As part of the solar generation project, Schafer will build, deploy and test a small array of CPV modules to evaluate performance in a low-latitude island environment while measuring their potential for offsetting the power consumption of the Maui High Performance Computing Center.

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Meridian Energy USA Becomes New Name for Cleantech America

Meridian Energy USA, Inc. is the new name for the leading Bay Area solar development company formerly known as Cleantech America. The name change further aligns the company’s brand with its parent company, Meridian Energy Ltd. New Zealand-based Meridian Energy Ltd. acquired Meridian Energy USA’s operations in August of 2009 and has since provided the funding and other resources to complete the company’s landmark CalRENEW-1 solar farm in Mendota, CA and expand its project development portfolio in the western U.S.

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Pfeiffer Named Vice President, Global Surface Wellhead at FMC Technologies

FMC Technologies, Inc. (NYSE: FTI) announced today that Johan F. Pfeiffer has been appointed Vice President, Global Surface Wellhead. Mr. Pfeiffer will assume his new role effective June 1, 2010.
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