Fitch Solutions: Oil & Gas CDS Show Temporary Reprieve

Fears over the Gulf oil spill appear to have subsided for now as tighter oil and gas credit default swap (CDS) spreads show, according to Fitch Solutions in its latest weekly Risk and Performance Monitor (RPM).

Fugro Signs Loan Agreement with EMGS

Fugro N.V. today announced that it has entered into an agreement to purchase USD 20 million worth of senior secured bonds issued by Electromagnetic Geoservices ASA (EMGS). 

Energas Announces Drilling Rig Moving In

Energas Resources, Inc. (OTCBB: EGSR) is pleased to announce that the drilling rig is now moving on to the Lake Devore Prospect location in Kiowa County, CO. Spudding of the well is expected to occur later this week.

EVTN Receives Purchase Order from Sublimax to Clean Reclaimed Oil

Enviro Voraxial Technology, Inc. (OTCBB: EVTN) today announced that it has received a purchase order from Sublimax Canada Inc., a clean-tech company based in Toronto, Canada, to process and clean reclaimed oil from commercial and industrial use.

Petrodorado Energy Ltd. and Loon Energy Corporation Announce Letter of Intent for Acquisition of Loon Energy Corporation

Petrodorado Energy Ltd. (”Petrodorado”) (TSX VENTURE:PDQ) and Loon Energy Corporation (”Loon”) (TSX VENTURE:LNE) are pleased to announce that they have entered into a non-binding letter of intent dated July 15, 2010 (the “Letter Agreement”), pursuant to which, subject to the entering into of a definitive agreement (the “Definitive Agreement”) and certain other conditions, the parties […]

OGX Announces the Presence of Hydrocarbons in Well OGX-15

OGX Petróleo e Gás Participações S.A. (“OGX”) (Bovespa: OGXP3, OTC: OGXPY), the Brazilian oil and gas company conducting the largest private sector exploratory campaign in Brazil, announced today that it has identified an oil-bearing interval in the Albian section of well 1-OGX-15-RJS, located in the BM-C-41 block, in the shallow waters of the Campos Basin. […]

BHP Billiton releases production report for the year ended 30 june 2010

Petroleum delivered its third consecutive annual production record following the successful delivery of a series of growth projects in the Gulf of Mexico (USA) and Australia. These contributed to continued growth in the high margin crude operations.

Concho Resources Inc. to Acquire Oil & Gas Assets in the Permian Basin for $1.65 Billion

Concho Resources Inc. (NYSE: CXO) (“Concho” or the “Company”) today announced that it has entered into a definitive agreement to acquire all the oil and gas assets of Marbob Energy Corporation and certain affiliated entities (collectively “Marbob”) for $1.65 billion in cash and Concho securities. Marbob is a privately-held exploration and production company with substantially […]

Western Energy Services Corp. Announces Private Company Acquisition

Western Energy Services Corp. (”Western”) (TSX.V) announces that it has entered into (through its wholly owned subsidiary
Horizon Drilling Inc.) a definitive arrangement agreement with Impact Drilling Ltd. (”Impact”), whereby Western will acquire all of the outstanding securities of Impact. The total transaction value of the Arrangement is approximately $19.4 million (including the acquisition of outstanding […]

IPD Announces the Launch of New Product Line for the Cummins® ISX/QSX Engine

-IPD, a leading aftermarket provider of rebuild components for heavy-duty diesel and natural gas powered engines, announced today the launch of their new product line of replacement parts the Cummins® ISX and QSX on highway and industrial diesel engines. The initial offering will include components for in-frame rebuild, pistons, cylinder liners, bearings and gaskets kits […]