DeeThree Exploration Ltd. Announces a 1580 bbl/d Brazeau Belly River Oil Test
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
DEETHREE EXPLORATION LTD. ("DeeThree" or the "Company") (TSX:DTX)(OTCQX:DTHRF) is pleased to announce the results of a four day production test of its most recent horizontal Belly River oil well in its Brazeau property. The Company has a 100% working interest in the well.
After fracture stimulation, the well continued to flow for four days up the 4 1/2" frac string at an average rate of 1770 bbls/d of 44° API reservoir oil and 1.6 mmscf/d of natural gas with a final rate of approximately 1,580 bbls/d of oil and 1.8 mmscf/d of natural gas (on a 1.5" choke at a wellhead pressure of 40 psi).
GE to Acquire Lufkin Industries GE (NYSE: GE) and Lufkin Industries Inc. (NASDAQ: LUFK) announced today a joint agreement whereby GE will acquire Lufkin Industries Inc., a leading provider of artificial lift technologies for the oil and gas industry and a manufacturer of industrial gears, for approximately $3.3 billion. Lufkin shareholders will receive $88.50 per share in cash for each of their Lufkin shares.
Artificial lift, used in 94 percent of the roughly 1 million oil-producing wells around the world, helps lift hydrocarbons to the surface in reservoirs with low pressure and improves the efficiency of naturally flowing wells. Upon close, Lufkin will broaden GE Oil & Gas’ artificial lift capabilities beyond electric submersible pumps (ESPs) to include rod lift, gas lift, plunger lift, hydraulic lift, progressive cavity pumps and a sophisticated array of well automation and production optimization controls and software. The ESP category of artificial lift is the only lift segment in which Lufkin does not currently compete.
Lundin Petroleum Spuds Exploration Well on the Carlsberg Prospect in the Southern North Sea
Lundin Petroleum AB (TSX:LUP)(OMX:LUPE) (Lundin Petroleum) is pleased to announce that drilling of exploration well 7/4-3 in PL495 has commenced. The well will target the Carlsberg prospect, which is located some 24 km north of the Lundin Petroleum operated Brynhild field in the North Sea, offshore Norway, and approximately 22 km east of the UK Everest field.
The main objective of well 7/4-3 is to prove the presence of hydrocarbons in Upper Triassic and Upper Cretaceous reservoirs. Lundin Petroleum estimates the Carlsberg prospect to contain unrisked, gross, prospective resources of 67 million barrels of oil equivalent (MMboe).
Gastar Exploration Ltd. Declares Monthly Cash Dividend on 8.625% Series A Preferred Stock of Gastar Exploration USA, Inc.
Gastar Exploration Ltd. (NYSE MKT: GST) ("Gastar") announced today that Gastar Exploration USA, Inc., the wholly-owned subsidiary of Gastar, has declared a monthly cash dividend on its 8.625% Series A Preferred Stock ("Series A Preferred Stock") for April 2013.
The dividend on the Series A Preferred Stock is payable on April 30, 2013 to holders of record at the close of business on April 15, 2013. The April 2013 dividend payment will be an annualized 8.625% per share, which is equivalent to $0.179688 per share, based on the $25.00 per share liquidation preference of the Series A Preferred Stock. The Series A Preferred Stock is currently listed on the NYSE MKT and trades under the ticker symbol "GST.PRA."
LNG Energy Enters Into Farm-In Agreement in Papua New Guinea With Heritage Oil PLC
LNG Energy Ltd. ("LNG") (TSX VENTURE:LNG) is pleased to announce that its subsidiaries, Telemu No. 18 Limited ("Telemu"), LNG Energy (PNG) Limited and LNG Energy No. 2 Limited, have entered into a farm-in agreement with wholly owned subsidiaries of Heritage Oil Plc ("Heritage"). In exchange for an 80% participating interest in the PPL 319 and PRL 13 licenses, Heritage will make a cash payment to Telemu of US$4 million, fund the acquisition of a minimum of 100 km of seismic within the license areas and fund the drilling of one exploration well in PPL 319 to a depth sufficient to test identified exploration targets. Closing is subject to certain conditions including customary government approvals. On closing, Heritage will become the operator under both licenses.
Quicksilver Announces Sale to Tokyo Gas of 25% Interest in Barnett Shale Assets
Quicksilver Resources Inc. (KWK) announced today that it has executed an agreement to sell an undivided 25% interest in its Barnett Shale oil and gas assets for US$485 million to TG Barnett Resources LP, a wholly-owned U.S. subsidiary of Tokyo Gas Co., Ltd.
Quicksilver will remain as operator of the assets. Future development spending will be shared in proportion to each party's working interest in accordance with applicable operating agreements.
The effective date of the transaction is September 1, 2012. Closing is expected to occur on April 30, 2013 and is subject to customary closing conditions.
Gastar Exploration Announces Mid-Continent Acquisition, Resolution of Litigation and Mid-Continent Operational Results
- Will add 157,000 net acres to Gastar's existing Mid-Continent position - Transactions to include repurchase of 6.8 million shares of common stock and settlement of all litigation with Chesapeake
Gastar Exploration Ltd. (NYSE MKT: GST) today announced that it has entered into a definitive agreement to acquire proven reserves and undeveloped leasehold interests in Kingfisher and Canadian counties, Oklahoma from Chesapeake Energy Corporation, repurchase Chesapeake's common shares of the Company and settle all litigation for $85 million. The acquisition includes drilling rights omin approximately 157,000 net acres that adjoin Gastar's existing Mid-Continent acreage and approximately 2.8 MMBoe of proven reserves. The transaction is expected to close on or before June 7, 2013, subject to customary closing adjustments, and with a property purchase effective date of October 1, 2012.
Athabasca Oil Corporation reports a significant increase in bitumen contingent resources and light oil reserves, and assigns 51 million barrels of proved reserves at Hangingstone
Athabasca Oil Corporation (TSX: ATH) announces that it has filed its Annual Information Form dated March 28, 2013, which can be retrieved electronically from the Company's website (www.atha.com) or from SEDAR (www.sedar.com).
Athabasca is also pleased to report the highlights of an independent reserves and resources evaluation, conducted by GLJ Petroleum Consultants Ltd. and DeGolyer MacNaughton Canada Limited, of the Company's thermal and light oil assets, at December 31, 2012.
Junex Announces an Increase of its Total Oil-Initially-in-Place Resources to 330 Million Barrels on its Galt Property, Quebec, Canada
QUEBEC CITY, QUEBEC--(Marketwire - March 27, 2013) - Junex Inc. (TSX VENTURE:JNX) ("Junex" or the "Company") is pleased to announce that Netherland, Sewell & Associates, Inc., ("NSAI"), a firm of worldwide petroleum consultants based in Texas, has provided an update of their Best Estimate of the total Oil-Initially-In-Place ("OIIP") resources at 330 million barrels for the Forillon and Indian Point formations on Junex's Galt Field property on the Gaspe Peninsula.
Niko Provides Corporate Updates
Niko Resources Ltd. ("Niko" or the "Company") (NKO.TO), provides the following corporate updates:
Proposed Sales of Certain Non-core Assets for $157 Million
Niko is in advanced negotiations with two separate third parties for the sales of certain non-core assets for combined sales proceeds of $157 million. The Company is working towards signing of definitive sale and purchase agreements by April 30, 2013. Further details on these transactions will be provided to the market as these transactions progress. Execution of the sale and purchase agreements will be subject to completion of final due diligence and approval by the respective boards of directors of the parties. Closing of the transactions will be subject to host government and regulatory approvals, other conditions customary for transactions of this nature, and closing adjustments.
ZaZa Energy Corporation Announces Joint Venture with Large Independent to Further Develop Its Eaglebine Assets
Joint venture partner to carry ZaZa on up to the first nine wells and make substantial cash payment
Joint venture partner to operate three-phase roll-out covering all of ZaZa’s acreage, save and except 19K net acres retained 100% by ZaZa in the middle of the block adjacent to recent discoveries
ZaZa Energy Corporation (“ZaZa” or the “Company”)(ZAZA) today announced that it has signed a Joint Exploration and Development Agreement (the “Agreement”) with one of the largest independent crude oil and natural gas companies in the United States to further develop ZaZa’s Eaglebine assets.
Gastar Exploration Reports Minimal Impact from Pipeline Disruption; Reaffirms First Quarter Production Guidance
Gastar Exploration Ltd. (NYSE MKT: GST) (Gastar) today announced that to date its production has been minimally affected by the rupture of a Williams Partners natural gas pipeline in Marshall County, West Virginia on Friday, March 22. The Company is reaffirming its previously issued first quarter production guidance of 38 to 41 MMcfe per day.
Quattro Announces a Binding Letter of Intent to Acquire More Than 580 Boe/d of Oil and Gas Production in Central Alberta
Quattro Exploration and Production Ltd. (TSX VENTURE:QXP) ("Quattro" or the "Company") is pleased to announce that it has entered into an arms-length agreement (the "Letter of Intent" or "LOI") with an Alberta-based private oil and gas exploration and production company to acquire certain oil and gas interests in East Central Alberta.
The acquisition comprises of four production packages, currently producing more than 580 boe/d (of which greater than 30% is oils and liquids), and developed land of approximately 82,395 acres (net), undeveloped lands of 75,220 acres (net) for a total of 157,615 acres (net) in East Central Alberta (the "Acquisition").
Questerre Energy Corporation: Fourth Liquids-Rich Montney Well Tests at Approximately 1,800 boe/d
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Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC)(OSLO:QEC) is pleased to report on the test results from its fourth horizontal well (the "03-19 Well") in the Kakwa-Resthaven area of west central Alberta.
The well was successfully completed with a 14-stage water-based nitrogen foam fracture stimulation in the 1321m horizontal section. Initial clean up and flow back began on March 11 2013 and the well was tested for a 161-hour period thereafter.
Ivanhoe Energy and SBM Offshore Sign Alliance to Accelerate Development of Un-tapped Offshore Heavy Oil Resources
Alliance represents another significant step to commercialize HTL
Ivanhoe Energy (TSX:IE.TO - News) (NASDAQ:IVAN - News) and SBM Offshore (SBM) are pleased to announce they have formed a global strategic alliance (Alliance), combining their respective expertise to create Floating, Production, Upgrading, Storage and Offloading vessels (FPUSO's).
The two companies have combined their respective technologies and experience to produce a first of its kind design for offshore facilities that will economically produce and upgrade heavy oil from offshore fields with crude oil quality down to 10°API gravity, or lower.
BNK Petroleum Inc. announces sale of Woodford assets; accelerates drilling in BNK's Caney formation
BNK Petroleum Inc. (the "Company") (TSX: BKX) is pleased to announce that its indirect wholly owned subsidiary BNK Petroleum (US) Inc. ("BNK US") has entered into a Purchase and Sale Agreement with XTO Energy Inc. ("XTO"), a subsidiary of Exxon Mobil Corporation, for the sale by BNK US of its Tishomingo Field, Oklahoma assets other than the Caney and upper Sycamore formations, for US$147.5 million, subject to customary closing adjustments.
Subject to completion of customary conditions, the transaction is expected to close in late April. If the transaction is completed, the proceeds of the sale are expected to be used to accelerate the drilling of Caney wells in the Tishomingo field, the Company's ongoing exploration efforts in Europe and for repayment of the Company's credit facility.
Rosetta Resources Inc. Acquires Oil-Rich Assets in Permian's Delaware Basin Adding Significant Capital Project Inventory Provides new basin entry in Permian and access to oil-weighted multi-pay areas Adds 40,200 net acres in Delaware Basin delineated Wolfbone play Expands capital project inventory by approximately 1,300 gross drilling locations Adds 13,100 net acres with multiple exploratory opportunities in Midland Basin Accretive to cash flow per share in 2014
Rosetta Resources Inc. (ROSE) ("Rosetta" or the "Company") today announced it has entered into a definitive agreement to acquire Permian Basin assets from Comstock Resources, Inc. (CRK) ("Comstock") for a purchase price of approximately $768 million, subject to customary closing adjustments.
PRD Energy Awarded Two Petroleum Licenses Covering Approximately 158,000 Acres Onshore Germany in the State of Schleswig-Holstein
PRD Energy Inc. ("PRD" or the "Company") (TSX VENTURE:PRD) is pleased to announce that it has been awarded the Ostrohe Exploration License covering approximately 156,000 acres as well as the Prasdorf Production License, covering approximately 2,000 acres. Both licenses are located in the state of Schleswig-Holstein, and are within the Northwest German Basin. The licenses have been awarded to PRD Energy GmbH, a wholly-owned subsidiary of the Company.
The Northwest German Basin has a history of significant petroleum discoveries and a number of these discoveries have been made within close proximity to the Ostrohe license.
Ballard Fuel Cell Modules to Power Fleet of 10 Clean Energy Buses in Aberdeen, Scotland
Ballard Power Systems (TSX: BLD; NASDAQ: BLDP) has announced the recent signing of an agreement between Van Hool NV, Europe's fourth largest bus manufacturer, and the Transit Authority in Aberdeen, Scotland for delivery of 10 buses that will be powered by Ballard's 150 kilowatt FCvelocityTM-HD6 fuel cell module.
When deployed in revenue service, the 10-bus fleet to be operated in Aberdeen will be Europe's largest hydrogen fuel cell bus fleet. Furthermore, by early-2014 approximately 40 buses in Europe will be powered by Ballard fuel cell modules.
TORC Oil & Gas Ltd. Announces Fourth Quarter and Year-End Financial & Operating Results and 2012 Year-End Reserves
TORC Oil & Gas Ltd. ("TORC" or the "Company") (TOG.TO) is pleased to announce its financial and operating results for the three month periods and years ending December 31, 2011 and 2012, and to provide its 2012 year-end reserves information as evaluated by Sproule Associates Limited ("Sproule"). TORC completed the acquisition of Vero Energy Inc. ("Vero") effective November 19, 2012 and all figures are pro forma Vero as of that date.
The associated Management's Discussion and Analysis ("MD&A") dated March 11, 2013 and audited financial statements as at and for the year ended December 31, 2012 can be found at www.sedar.com and www.torcoil.com.
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