More Oil and Gas Trouble in the Gulf of Mexico
An oil and gas production rig known as Vermilion Oil Platform 380 owned by Mariner Energy Inc. (NYSE:ME) off the coast of Louisiana was on fire Thursday.
Montana and North Dakota Oil Exploration and Production
In 1951 a significant oil discovery was made on the Bakken Formation, which is a very old geological deposit occupying about 520,000 square km of the subsurface of the Williston Basin, covering parts of Montana, North Dakota, and Saskatchewan. An April 2008 USGS report estimated the amount of technically recoverable oil within the Bakken Formation at 3.0 to 4.3 billion...
Oil Spill to Static Kill: The Saga Continues in the Gulf of Mexico
British Petroleum (NYSE:BP) has won approval from the U.S. government for the latest step to start pumping cement into its damaged Gulf of Mexico oil well and the company is currently in a disagreement over a regulatory filing that could indemnify or limit the liability of a company’s contract from penalties and liabilities other than for contamination resulting from...
What Makes an Oil Deposit World Class?
Although there are more than 40,000 oil and gas fields of all sizes in the world, slightly less than 80 percent of the proven reserves are concentrated in eight countries, of which only Canada and Russia are not OPEC members.
Russia and Middle Eastern Oil Sources Competing for Asian Business
Japanese and South Korean refiners have increased oil purchases from Russia, eroding the dominance of Middle Eastern suppliers and electing for a more competitive crude source that is three weeks closer by ship. While Russian exports have surged over the last 6 months, the Middle East remains dominant, with total Middle East output in June around 19.9 million barrels,...
Oil explorer Kosmos considers IPO
Oil exploration and production company Kosmos, the operator of Ghana’s Jubilee oil field, is considering an initial public offering. The press release is quoted as saying: Blackstone (BX.N) and Warburg [WP.UL], the U.S. private equity owners of Kosmos, are considering taking the company public after opposition from Ghana National Petroleum Corp led to the collapse [...]
Tethys Petroleum Limited: Kazakhstan Drilling Update
Tethys Petroleum Limited (TSE:TPL) today gave a brief update on its operations in Kazakhstan focused on its oil exploration and appraisal program.
Tullow Oil and Africa Oil to Jointly Explore New East African Rift Trend
Africa Oil Corp. (CVE:AOI) reported that it has signed a definitive farmout agreement with Tullow Oil plc whereby Tullow will acquire a 50% interest in, and operatorship of, three of Africa Oil’s east African exploration blocks, comprised of two exploration blocks in Kenya and one exploration block in Ethiopia.
Canadian Natural Resources Limited Announces Horizon Oil Sands Production
Canadian Natural Resources Limited (TSE:CNQ, NYSE:CNQ) announced monthly production of Synthetic Crude Oil at Horizon Oil Sands as follows: Q1 2010 :86,995 bbl/d, Q2 2010 :99,950 bbl/d,July 2010 :93,300 bbl/d, August 2010 forecast :49,000–50,000 bbl/d.
Husky Energy Acquires Foothills Natural Gas Properties
Husky Energy (TSE:HSE) announced that a purchase agreement has been signed to acquire natural gas properties in west central Alberta, which will significantly add to the Company’s production and reserves and extend the optimum utilization of its Ram River Gas Plant.
BC’s $98M August Nat Gas and Oil Sale
Theenergyreport.com reported BC’s $98M August Nat Gas and Oil Sale:
Terra Energy Announces Normal Course Issuer Bid
Terra Energy Corp. (TSE:TT) announced that the Toronto Stock Exchange has accepted its Notice of Intention to Make a Normal Course Issuer Bid.
Petro Vista Provides Operations Update of Core Properties in Brazil and Colombia
Petro Vista Energy Corp. (CVE:PTV) provided the following operations update on its core properties: Tartaruga block, Brazil and Morichito, La Maye and SSJN-5 blocks, Colombia.
Hemisphere Energy Corporation Closes Private Placement Over One Million Dollars
Hemisphere Energy Corporation (CVE:HME) reports that it has closed its private placement announced July 7, 2010. The private placement consisted of five million and ten thousand units at a price of 20 cents per unit, for proceeds of $1,002,000. For complete news release, click here. For Hemisphere Energy’s company website, click here.
Oil Pulls Back as Economic Concerns Grow
Thestreet.com reported that Oil Pulls Back as Economic Concerns Grow:
Asides 
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Thursday, September 2, 2010