News Archive for Oil and Gas News

AEL offer for Adelphi is closed

The Directors of ARC Energy Limited* (“AEL”) today announced that AEL’s Offer for Adelphi has closed. At the close of the Offer, AEL held or controlled 94.837% of Adelphi Shares. Read more…

Well Integrity Test Commences on MC252 well

Following installation of the capping stack and in line with the procedure approved by the National Incident Commander and Unified Area Command, the well integrity test on the MC252 well commenced today (July 15). Read more…

Texas Mutual Insurance Company Urges Worker Safety During Gulf Shore Cleanup

Now in its third month, the Gulf Coast oil spill has created many safety hazards for wildlife and for people involved in cleanup efforts. Texas Mutual Insurance Company, the state’s leading provider of workers’ compensation insurance, urges employers and employees helping out with the oil spill to take extra precautions during these efforts. Read more…

iStore to Launch Digital Oilfield Software as a Service

The Information Store (iStore) today announced Digital Oilfield Express (DOX),the first Digital Oilfield offering delivered online through a subscription price model. The new service will bring key exploration and production (E&P) business functionality to the thousands of small businesses that comprise the U.S. independent oil and gas producer market. This announcement was made at Microsoft’s Worldwide Partner Conference (WPC) 2010 in Washington, D.C. Read more…

NEW FREE WHITEPAPER: THE SIGNIFICANCE OF MERCURY IN THE GAS INDUSTRY

A new whitepaper has been published by SGS United Kingdom Ltd outlining some of the most important aspects relating to the sampling and measurement of Mercury.

Read more…

Earthstone Energy, Inc. Receives FINRA Approval for Name Change

Earthstone Energy, Inc., formerly Basic Earth Science Systems, Inc. (Earthstone, Basic or the Company) (OTC:BSIC) (BULLETIN BOARD: BSIC) , reported today that it has received formal approval from the Financial Industry Regulatory Authority (FINRA) to change its name to, and trade under the name, Earthstone Energy, Inc. As of June 1st FINRA changed their internal policy to only change trading symbols if a corporate merger occurs. As a result, Earthstone’s trading symbol will continue to be BSIC. Read more…

TapOil announces commencement of Belait North 3D seismic program – Brunei Block M

Tap Oil Limited (ASX Code: TAP) has commenced field operations for a 3D seismic survey in Block M, onshore Brunei as part of its exploration and development program. Read more…

BP stops flow of oil into Gulf of Mexico

Oil is no longer spewing into the Gulf of Mexico — at least temporarily — as BP Plc said it choked off the flow from its undersea well that ruptured in April and caused the worst offshore oil spill in U.S. history. Read more…

Doral Energy Adds 960 Acres of Adjacent Oil and Gas Properties to Existing 6,800 Acre Producing Oil and Gas Portfolio

Doral Energy Corp. (OTCBB:DRLY) (“Doral” or “the Company”) announced today that it has closed on an additional 960 acres adjacent to its existing production located within Southeastern New Mexico. The acreage is comprised of three leases with a total of 17 wellbores and 1 salt water disposal well. Of the 17 wells, 4 wells are currently shut in. Current exploitation opportunities include both infill drilling as well as re-work candidates. Read more…

NOIA President Applauds Successful Capping of Gulf Oil Spill

NOIA President Randall Luthi today issued the following statement on the capping of the Gulf oil spill:

“This is by far the best news we have heard in about 86 days. I am sure that industry, their families and neighbors are all collectively taking a sigh of relief and uttering a prayer of thanks.” Read more…

Crude-Oil Futures Advance on Weaker Dollar, OPEC Outlook for China Demand

Crude oil gained as the dollar weakened against the euro, while rising equity markets and a demand forecast from OPEC reaffirmed confidence that the recovery will buoy fuel consumption. Read more…

Compton closes final $35 million asset sale transaction

Compton Petroleum Corporation (TSX – CMT) is pleased to announce that it has completed the final portion of the sales transactions from its previously announced disposition of a portion of its assets in the Niton and Gilby areas in Central Alberta. Proceeds from this transaction were $35 million.  FirstEnergy Capital Corp. acted as a financial advisor to Compton with respect to the asset sale.
Read more…

Energy Expert T. Boone Pickens Outlines Plan to Cut Foreign Oil Dependency in New Whiteboard Presentation

T. Boone Pickens today launched the first in a new series of whiteboard video presentations, outlining the role natural gas can play in helping to achieve President Barack Obama’s campaign pledge to cut all imports of oil from the Middle East in 10 years. The video can be seen at www.pickensplan.com/whiteboard2010. Read more…

China North East Petroleum Holdings Ltd. Seeks Additional Time to Implement Its Listing Compliance Plan Previously Accepted by NYSE Amex

China North East Petroleum Holdings Ltd. (the “Company” or “NEP”) (NYSE Amex: NEP), a leading independent oil producer and oilfield services company in Northern China, today reported that on July 13, 2010, the Company submitted a request to NYSE Amex LLC (“AMEX”) for additional time to regain compliance with AMEX’s continued listing standards. Read more…

Petroleum Development Corporation Now PDC Energy

Petroleum Development Corporation (the “Company”) (Nasdaq:PETD) today announced that effective July 15, 2010 it will do business as PDC Energy (“PDC”). A new logo and corporate identity accompanies this change. The Company will keep its current website address (www.petd.com), although effective Thursday, July 15th, the website will reflect the PDC Energy name and brand identity. Read more…

Environmental Magazine: If We Want to Move Beyond Disastrous Oil Spills, We Need a Smart Grid

The July/August 2010 issue of E – The Environmental Magazine (now posted at: www.emagazine.com) offers what many experts now deem a rational solution to our continued dependence on fossil fuels, and a way to potentially head off the offshore oil exploration that has resulted in the worst oil spill in the nation’s history: a national “smart grid.” The smart grid would be an updated, digital version of our century-old network of electric power lines — and would allow power plants to respond, in real time, to electricity needs. Read more…

Noble Corporation Updates Second-Quarter 2010 Results Conference Call Information

As previously announced, Noble Corporation (NYSE: NE), a leading offshore driller, plans to report financial results for the second quarter of 2010 on Monday, July 19, 2010, after the close of trading on the New York Stock Exchange. Copies of the Company’s press release will be available on its Web site at www.noblecorp.com. Read more…

NEW FREE WHITEPAPER: THE SIGNIFICANCE OF MERCURY IN THE GAS INDUSTRY

A new whitepaper has been published by SGS United Kingdom Ltd outlining some of the most important aspects relating to the sampling and measurement of Mercury. Read more…

Research and Markets: Oil Panic and the Global Crisis: Predictions and Myths

Research and Markets (http://www.researchandmarkets.com/research/3e0733/oil_panic_and_the) has announced the addition of John Wiley and Sons Ltd’s new book “Oil Panic and the Global Crisis: Predictions and Myths” to their offering.

Read more…

Spectra Energy Announces Acquisition of Bobcat Gas Storage Assets and Development Project

Spectra Energy Corp (NYSE:SE) today announced it has entered into a definitive agreement to purchase the Bobcat Gas Storage assets and development project (Bobcat) from Haddington Energy Partners III LP and GE Energy Financial Services for $540 million. Read more…

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