News Archive for Renewable News

Great Lakes Biodiesel Inc. announces final stage of construction of Canada’s Largest Biodiesel Plant

Great Lakes Biodiesel Inc. (GLB) announces it entered the final stage of construction of Canada’s largest biodiesel plant opening in Fall, 2012. Located in Welland, Ontario, the plant is approved by the Government of Canada’s ecoENERGY Program, having annual production capacity of 170 million litres of biodiesel. Read more…

Natural Oil and Gas extraction in Indonesia includes five year industry forecasts, growth rates and an analysis of the industry key players

Research and Markets (http://www.researchandmarkets.com/research/b3jw82/natural_oil_and_ga) has announced the addition of the “Natural Oil and Gas Extraction in Indonesia” report to their offering. Read more…

C.A.T. oil shows strong operational and financial performance in Q1 2012

C.A.T. oil AG (O2C, ISIN: AT0000A00Y78), one of the leading providers of oil and gas field services in Russia and Kazakhstan, today announced its results for the first quarter of 2012. C.A.T. oil succeeded in both, top- and bottom-line growth: revenues rose by 23.5% yoy to EUR 75.3 million (Q1 2011: 61.0 million) and earnings before interest, tax and depreciation (EBITDA) increased by 61.4 % yoy to EUR 14.0 million (Q1 2011: EUR 8.7 million). The EBITDA margin expanded to 18.5% (Q1 2011: 14.2%). Net income amounted to EUR 2.5 million during the reporting period (Q1 2011: EUR – 1.0 million). Besides that, C.A.T. oil obtained additional orders for the remaining two new rigs and has thus successfully accomplished the marketing of its third core service, high class conventional drilling, bringing the total 2012 order book to EUR 290 million. Read more…

American Eagle Energy provides North Dakota three forks wells update

LITTLETON, Colo., May 30, 2012 /PRNewswire/ — American Eagle Energy Corporation (OTCBB: AMZG; “American Eagle”) is pleased to provide additional production information on its Spyglass Bakken and Three Forks Project in Divide County, North Dakota, following its news announcement from last week . Read more…

Noble Energy announces the sale of North Sea assets

HOUSTON, May 30, 2012 /PRNewswire/ – Noble Energy, Inc. (NYSE: NBL) announced today that it has entered into a definitive agreement with Maersk Oil North Sea Limited (OMX: MAERSKB) for the sale of certain assets located in the North Sea of the UK. The sale includes the Company’s thirty percent non-operated working interest in the Dumbarton and Lochranza properties, which produced approximately 4,400 barrels of oil equivalent (Boe) per day, net to Noble Energy, in the first quarter of 2012. At the end of 2011, net proved reserves at Dumbarton and Lochranza were 5.6 million Boe. Read more…

Rodinia Oil Corp. releases first quarter 2012 financial and operating results

CALGARY, May 30, 2012 /PRNewswire/ – (TSX-V: ROZ) – Rodinia Oil Corp. (“Rodinia”) today released its first quarter 2012 financial and operating results. A copy of Rodinia’s unaudited condensed consolidated financial statements and related management’s discussion and analysis (“MD&A”) can be accessed either at www.sedar.com or on Rodinia’s website. Read more…

Africa Hydrocarbons updates status of Bouhajla farmout agreement

CALGARY, May 30, 2012 /CNW/ – Africa Hydrocarbons Inc (“AHI” or “the Company”) (TSX-V: “NFK”) announces today that it is in on-going discussions with Dualex Energy International Inc. (“DualEx”), regarding the payment of the second installment of the Earning Funds pursuant to the Amended Farmout Agreement dated November 2, 2011, related to the Bouhajla Permit, onshore Tunisia. Read more…

Sterling resources enters into contract to drill two wells offshore Romania and updates its romanian prospective resources

CALGARY, May 31, 2012 /CNW/ – Sterling Resources Ltd. (TSX-V: SLG) (“Sterling” or the “Company”) is pleased to announce that its wholly owned subsidiary in Romania, Midia Resources SRL (“Midia”), has entered into a contract with Grup Servicii Petroliere SA (“GSP”) for the drilling of offshore exploration wells “Ioana” in Block XV Midia and “Eugenia” in Block XIII Pelican.  In addition, Sterling is pleased to provide updated Prospective Resources for additional offshore prospects. Read more…

Seadrill reduces its stake in SapuraKencana Petroleum Bhd

Seadrill announces that it today has sold 300 million shares in SapuraKencana Petroleum BHD (“SapuraKencana”). The proceeds from the transaction will be approximately US$200 million. The book value of Seadrill’s total position in SapuraKencana was US$111 million by the end of the first quarter 2012. A material accounting gain related to Seadrills position in SapuraKencana is expected for the second quarter of 2012. Read more…

Sasol inaugurates expanded natural gas central processing facility in Mozambique

Sasol Petroleum International, the upstream subsidiary of Sasol Limited, today inaugurated its expanded central processing facility (CPF) in Temane, Mozambique. The capacity of the CPF was increased to 183 MGJ/a of natural gas, from its initial design capacity of 120 MGJ/a, in order to meet increased market demand in Mozambique and South Africa. Read more…

Plains All American pipeline comments on second-quarter results

Plains All American Pipeline, L.P. (NYSE:PAA) today announced that it expects adjusted earnings before interest, taxes, depreciation and amortization (“EBITDA”) for the second quarter of 2012 to exceed the mid-point of its quarterly guidance by approximately 15%. This expected level of performance is driven by strong fundamentals, favorable market conditions and solid execution in all three business segments. Read more…

Nextraction commences drilling operations in Provost

Nextraction Energy Corp. (TSX-V: NE) (the “Company” or “Nextraction”), is pleased to announce that drilling operations for a second horizontal well have commenced on its Provost Viking light oil property in eastern Alberta. The Company is operating the drilling and completion of the well on its 50% working interest lands. The horizontal well will target the Viking formation at a depth of 800 meters, and will include a 600 meter horizontal leg. The well is offset by two of the best producing vertical wells in the pool and is being drilled in close proximity to the Company’s recently constructed multi-well oil battery. Read more…

AGL Resources announces leadership transition at Nicor Gas

Today AGL Resources announced that Hank Linginfelter, executive vice president, Distribution Operations for AGL Resources will oversee the day-to-day business of Nicor Gas until a replacement is named for Ralph Cleveland. Cleveland, an AGL Resources veteran who became president of Nicor Gas in December 2011, is leaving the company to pursue an opportunity in the financial services industry after 30 years in the energy sector. Read more…

AWE’s Atlas-1 starts drilling

AWE Limited reports that the Atlas-1 exploration well commenced drilling at 1930 hours (local time) on 30 May, 2012. At 0600 hours today, the well was drilling ahead at a measured depth of 310 metres. Read more…

Aker Solutions signs sub-surface velocity cube agreement with TGS

Aker Solutions’ geo business has signed a six-year frame agreement with TGS to co-operate in supplying regional sub-surface velocity cubes – hiQbe(TM) - for the UK Central North Sea area. Read more…

New Zealand Energy announces strategic acquisition in Taranaki Basin, new copper Moki Oil discoveries and first quarter 2012 financial results

New Zealand Energy Corp. (TSX VENTURE:NZ)(OTCQX:NZERF) (“NZEC” or the “Company”) is pleased to announce that it has entered into a binding agreement (the “Origin Agreement”) with Origin Energy Resources NZ (TAWN) Limited, a wholly-owned subsidiary of Origin Energy Limited (ASX:ORG) (collectively “Origin”) to acquire upstream and midstream assets (the “Acquisition”). These assets include four Petroleum Mining Licenses totaling 26,907 acres in the main Taranaki Basin production fairway (the “Petroleum Licenses”) as well as the Waihapa Production Station and associated gathering and sales infrastructure. Read more…

Senex Energy announces appraisal success with the Snatcher-4 oil well on the western flank of the South Australian Cooper Basin

Senex Energy Limited (Senex), as operator of the PEL 111 joint venture in the South Australian Cooper Basin, has cased and suspended the Snatcher-4 oil appraisal well as a future oil producer after successfully intersecting a 10 metre gross oil column. Read more…

Maersk Oil buys 30% interest in Dumbarton and Lochranza fields in UK North Sea

Maersk Oil, a fully-owned subsidiary of the A.P. Moller – Maersk Group, is pleased to announce that it has signed a definitive agreement with Noble Energy Inc for the purchase of their 30% interest in the Maersk Oil operated Dumbarton and Lochranza fields, as well as the Global Producer III FPSO (Floating Production Storage and Offloading) installation in the UK Central North Sea. Following completion, Maersk Oil will hold a 100% interest in Dumbarton and Lochranza and complete control of Global Producer III FPSO. Read more…

INPEX awarded onshore exploration block in Iraq

INPEX CORPORATION (INPEX) is pleased to announce today that INPEX was successful in the fourth Petroleum Licensing Round in Iraq, and won the onshore Exploration Block 10 jointly with LUKOIL Overseas Holding Ltd. (LUKOIL Overseas), a subsidiary of LUKOIL, a Russian oil company. INPEX will further negotiate with the Iraq Government the terms for the petroleum contract for the Block 10. Read more…

Forest Gate sells saskatchewan oil and gas assets

CALGARY, May 29, 2012 /CNW Telbec/ – Forest Gate Energy Inc. (TSXV: FGE) reports that it has entered into a definitive purchase and sale agreement with its joint interest partner in the Rangeview, Divide and Katherine properties located in southwest Saskatchewan to sell their entire working interest to an arms-length partner for gross proceeds of $1.5 million. Read more…

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