News Archive for Oil and Gas News

Peyto Exploration & Development Corp. Increases Reserves Per Share 19% and Production Per Share 33% in 2011

Peyto Exploration & Development Corp. (TSX:PEY) is pleased to present the results and analysis of the independent reserve report effective December 31, 2011. The evaluation encompassed 100% of Peyto’s reserve assets and was conducted by InSite Petroleum Consultants. Read more…

ConocoPhillips Announces Sale of Vietnam Business Unit

ConocoPhillips [NYSE:COP] today announced that, as part of its ongoing strategy to create shareholder value, it has entered into an agreement to sell its Vietnam business unit for a total of $1.29 billion plus customary working capital adjustments. Read more…

Ultra Petroleum Reports 2011 Financial and Operating Results

HOUSTON, Feb. 16, 2012 /PRNewswire/ — Ultra Petroleum Corp. (NYSE: UPL) continued to deliver solid financial and operating performance for both the fourth quarter and full-year 2011. Highlights for the quarter include: Read more…

Shell Announces Appraisal Success at Appomattox Discovery

HOUSTON, Feb. 16, 2012 /PRNewswire/ — Shell today announces a successful appraisal operation at its Appomattox discovery in the deepwater Gulf of Mexico. The appraisal well in Mississippi Canyon block 348, in approximately 7,257 feet of water, was drilled to a total depth of 25,851 feet and encountered approximately 150 feet of oil pay. Read more…

Nexen Announces Solid Financial Results & Progress on Milestones

Nexen Inc. (TSX, NYSE: NXY) today reported 2011 fourth quarter and annual operating and financial results, and provided a progress update on its strategic priorities for 2012. Read more…

Apache’s 14% Production Growth Lifts Earnings 50% to Record $4.5 Billion in 2011

HOUSTON, Feb. 16, 2012 /PRNewswire/ — Apache Corporation (NYSE, Nasdaq: APA) today reported that record production and strong oil prices combined to generate record full-year 2011 earnings of $4.5 billion or $11.47 per diluted common share, up 50 percent from $3 billion or $8.46 per share in 2010. Read more…

Standard Exploration Ltd. Provides Montney Well Update

Standard Exploration Ltd. (the “Corporation”) (TSX VENTURE:SDE) is pleased to announce it has commenced the drilling of the Test Well pursuant to the Farmin Agreement as previously announced in the Corporation’s press release dated October 27, 2011. The horizontal Montney oil well is projected to take 10 days to drill and will be completed using a multi-stage fracturing system. The Corporation anticipates completing the well prior to spring break-up. Read more…

WesternZagros Declares an Oil Discovery at Mil Qasim-1 and Provides an Operational Update

WesternZagros Resources Ltd. (TSX VENTURE:WZR) (“WesternZagros” or “the Company”) has made an oil discovery in the Upper Fars Formation at the Mil Qasim-1 exploration well in the Kurdistan Region of Iraq. Read more…

Aker Solutions awarded Troll contract

Aker Solutions has been awarded a contract by Statoil to deliver six subsea trees and a tool package for Troll on the Norwegian continental shelf. Estimated contract value is NOK 350 million. Read more…

Caza Oil & Gas Provides Operational Update San Jacinto Property

Caza Oil & Gas, Inc. (“Caza” or the “Company”) (TSX:CAZ)(AIM:CAZA), the exploration, appraisal, development and production company, is pleased to provide an operational update regarding its San Jacinto Property in Midland County, Texas. Read more…

Americas Petrogas Starts Fracing and Testing of Huacalera Vertical Well

Americas Petrogas (TSX VENTURE:BOE) (“Americas Petrogas” or the “Company”) is pleased to announce that testing has commenced on the Hua.x-1 well on the Company’s Huacalera Block (250,000 acres or 390 sections) located in Neuquen’s active shale play corridor. The testing program will focus on the Vaca Muerta formation followed by additional testing in the Quintuco and Mulichinco zones since these additional zones of interest were also identified from the petrophysical and geochemical analyses of the cores, cuttings and log data. Read more…

Americas Petrogas Starts Fracing and Testing of Huacalera Vertical Well

Americas Petrogas (TSX VENTURE:BOE) (“Americas Petrogas” or the “Company”) is pleased to announce that testing has commenced on the Hua.x-1 well on the Company’s Huacalera Block (250,000 acres or 390 sections) located in Neuquen’s active shale play corridor. The testing program will focus on the Vaca Muerta formation followed by additional testing in the Quintuco and Mulichinco zones since these additional zones of interest were also identified from the petrophysical and geochemical analyses of the cores, cuttings and log data. Read more…

Zargon Oil & Gas Ltd. Provides Operational Update and Releases 2011 Year End Reserves

Zargon Oil & Gas Ltd. (TSX:ZAR) (“Zargon”) is pleased to provide fourth quarter production statistics, an operational update and report its 2011 year end reserves. Zargon intends to release its 2011 audited financial results on March 9, 2012, before market open. Read more…

Petro Viking Operational Update

Mr. Giovanni DeFrancesco, President & CEO of Petro Viking Energy Inc. (TSX VENTURE:VIK) (the “Company”), provides the following operational update on field activities. Optimization of oil production at the Company’s Ronalane property has increased oil production by 40% and Petro Viking is now producing approximately 100 boepd, weighted at 55% oil & NGLs and 45% natural gas. In addition, licensing for a horizontal well is complete on the Company’s Plato, Saskatchewan prospect where the target is Viking Oil. Petro Viking plans to secure a joint venture partner before drilling this well. Read more…

Parex Resources Announces 2011 Year-End Reserves and Provides Operational Update

Parex Resources Inc. (“Parex” or the “Company”) (TSX:PXT), a company focused on oil exploration and production in Colombia and Trinidad, announces the results of its 2011 year-end independent crude oil reserves evaluation and provides an operations update on the Company’s current activities. Read more…

Enhanced Oil Resources Inc. Provides 2012 Activity Update

HOUSTON, Feb. 15, 2012 /CNW/ – Enhanced Oil Resources Inc. (TSX-V: EOR) is pleased to provide the following update regarding the Company’s proposed activity for 2012. Read more…

Blue Horizon Secures Partner at Normandville Alberta to Drill A Multi-Leg Horizontal Well

Blue Horizon Industries Inc. (“Blue Horizon” or the “Corporation) (CNSX:BH) announces that its wholly-owned subsidiary, Blue Horizon Energy Inc. (“Blue Horizon Energy” or “the Company”), has entered into a Farmout Agreement with an industry partner (“the Farmee”) pursuant to which the Farmee will farm-in on the Company’s 50% interest in its 14 contiguous section Normandville Oil Sands Property. The Farmee will pay 100% of Blue Horizon Energy’s proportionate share of the costs associated with drilling, completing and or abandoning a two leg horizontal well (“the Test Well”) that will test the Bluesky-Gething formation and ascertain if the formation will cold flow produce. Read more…

DeeThree Announces Significant Bakken Discovery Well

DeeThree Exploration Ltd. (“DeeThree” or the “Company”) (TSX:DTX) (OTCQX:DTHRF) announces the results of its fifth horizontal Bakken well on its Lethbridge property. Read more…

San Leon Energy Announces A New Potential Unconventional Gas Play in Poland-Completion of Siciny-2 Well

San Leon Energy, the fast growing oil and gas company with an extensive portfolio of assets across Europe and North Africa, is pleased to announce that it has completed the drilling, initial evaluation, and has cased its Siciny-2 well in the SW Carboniferous Basin of Poland, which comprises of 880,000 acres held 100% by San Leon. The well is located in the company’s 100% operated Gora Concession 70km to the southeast of the city of Zielona Gora. The initial goal of collecting core and downhole geophysical data focused on understanding the unconventional gas potential of the Carboniferous section has been achieved. The Carboniferous is known to be the source rock for the significant gas production in the overlying Permian Rotliegendes formation in Poland. Read more…

AWE completes Indonesian transaction

Further to the ASX Release dated 23 January 2012, AWE Limited (“AWE”) is pleased to announce that the transaction to acquire a 100% interest and operatorship of two Production Sharing Contracts offshore Indonesia has been completed effective 17 February 2012. Read more…

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