Oil companies curtail work on North Slope Nov 19, 2009
Some announced plans to cut back on spending and drilling on the North Slope -- Conoco said it won't be drilling an exploration well for the first time in 45 years -- though they also said they will continue to pursue a handful of big, new projects ... Shell hopes to begin drilling on its leases next year ... Ever since the state decided a couple of years ago to pull Exxon's leases at Point Thomson -- it cited decades without any drilling -- the company and the state have been battling for... (Anchorage Daily News)
One Exploration Inc. announces 2009 3rd quarter results, property disposition and updated banking arrangements Nov 19, 2009
NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES (Canada Newswire)
Local gathering: Participants dismayed by state of the country. (Thelma Grimes/photo.) Nov 19, 2009
The conservative said he'd also like to see more oil drilling done here in the United States, instead of relying so much on foreign oil. Goss also said he'd like to do away with the Internal Revenue Service, and send postcards out to residents who should all pay a flat tax to make the system fair. (Benson San Pedro Valley News Sun, AZ)
TSX Venture Exchange Daily Bulletins for November 18, 2009 Nov 19, 2009
The project encloses several polymetallic volcanogenic sulphide occurrences, including two zones named Lookout and Trio where a previous explorer focussed its drilling efforts. The Niblack Project presently consists of eighteen patented mineral claims surrounded by 146 contiguous staked Federal mineral claims, and seven State of Alaska tideland claims. (CCNMatthews Press Releases)
The case for higher oil prices Nov 19, 2009
will be discovered that may impact oil demand, or breakthroughs in drilling technology may rapidly cut marginal production costs. But these are very low probability events. (Sydney Morning Herald -- Business)
California needs $20.7 billion more to balance next budget Nov 19, 2009
Schwarzenegger again may seek to allow oil drilling off the coast of Santa Barbara in exchange for royalties. But after signing several temporary tax hikes in February, the governor said Wednesday in Milan, Italy 00000AE7 , that he doesn't want to consider any new tax increases, according to Dow Jones Newswires. (Fresno Bee -- Local)
When oils ain't oils Nov 18, 2009
Even when cased in cement drilling wells through salt increases the risk of collapse. If this weren't demanding enough, the oil pumped back to the surface from these wells can be hot enough to melt drilling equipment. (Sydney Morning Herald -- Business)
Goldeye Explorations Limited Closes Another Financing With MineralFields Group Nov 18, 2009
This financing will be used for additional drilling in Tyrrell or other Ontario properties. Goldeye's C.E.O. and President, Blaine R. Webster, stated, "We are very pleased to be continuing our relationship with MineralFields Group. This is an important milestone in the growth of Goldeye Explorations Limited and we appreciate the support from MineralFields Group as we develop Goldeye's holdings in its Canadian exploration projects.". (CCNMatthews Press Releases)
Icy oil spill easier to clean, scientists say Nov 18, 2009
But several conservation groups and Arctic village governments have sued to block Shell's drilling, saying it could result in pollution or interfere with subsistence whale hunts ... "It would have been an opportunity for people concerned about (offshore oil drilling) to see this," said Mead Treadwell, chairman of the U.S. Arctic Research Commission. (Anchorage Daily News)
Lucas Energy Reports Second Fiscal Quarter 2009-2010 Results, Turns EBITDA Positive Nov 17, 2009
1 million at March 31, 2009, primarily reflecting the sale of working interest as part of our drilling program ... The Program will be conducted through a drilling program with a U.S. affiliate of a European oil and gas company and initially includes bringing 6 wells online ... Mr. William Sawyer, CEO of Lucas Energy said, "We are happy to announce the return to positive EBITDA for the fiscal second quarter. The current quarter returns this trend to positive EBITDA and positive cash flow from... (Primezone Releases)
Great Plains Moves Ahead With Pipeline Plans and Announces Third Quarter Results Nov 17, 2009
0 million was spent on drilling and completion at Crossfire, Gunnel and Klua ... Great Plains continued with a careful approach to capital spending, allocating resources only to those projects which involved pipeline tie-ins or drilling commitments on core projects that could assist in meeting our long-term corporate objectives ... Great Plains is capable of almost doubling its current production base for moderate capital costs with little drilling required. (CCNMatthews Press Releases)
Open Range Energy Corp. Reports Third Quarter Results, Provides Operational Outlook and Announces First-Half 2010 Guidance Nov 17, 2009
- Announced and closed a purchase and sale agreement to substantially increase the Corporation's working interests at its core Ansell/Sundance Deep Basin property in west central Alberta, adding immediate production of 1,150 boe per day and subsequent quarterly cash flow of approximately $2 million (at current commodity prices), and greatly augmenting the drilling inventory ... This increases our production, cash flow, reserves and borrowing capacity all by approximately 50 percent,... (CCNMatthews Press Releases)
Energy independence, cleaner environment Nov 17, 2009
Finally, I believe climate change legislation should open additional regions to responsible offshore drilling. If our state consented to drilling off our shores beyond the horizon, South Carolina would share in the revenues ... The EPA will destroy jobs and contain no new provisions for expanded nuclear energy or offshore drilling. (Orangeburg Times and Democrat, SC)
Africa: Investors Expanding Oil Interests Throughout Continent [analysis] Nov 17, 2009
The company's entire drilling needs are financed through the end of 2010, and he adds Tullow's total production should grow from 60,000 barrels of oil equivalent a day to 200,000 BOE a day "in the short- medium term." ... That can make drilling more difficult, but political uncertainty isn't unusual for oil_rich areas. (allAfrica.com)
Judge Rejects Global Warming Trial in Auction Case Nov 17, 2009
A federal judge said Monday he won't allow global warming to be put on trial in the case of a college student charged with disrupting an auction of oil and gas drilling leases ... He has said he was acting to curb climate change by preventing drilling, and that the auction was illegal from the start. (ABC News -- Wire)
Regal Petroleum Fined Record $1 Million by AIM For Misleading Investors Nov 17, 2009
Regals Kavala Oil SA unit was behind the drilling of the wells in Greece. Regal stock slumped 61 percent on May 18, 2005, after the company said its Kallirachi-2 well failed to discover commercial gas reserves. (Bloomberg -- UK)
U.S. Energy Corp. Announces Initial Production Rate of Approximately 1,544 BOE/D From the Lee 16-21 #1H Bakken Well Nov 17, 2009
Nov. 16, 2009 (GLOBE NEWSWIRE) -- U.S. Energy Corp. (Nasdaq: - ) ("USE" or the "Company"), a natural resources exploration and development company with interests in oil and gas, molybdenum, geothermal, and real estate assets, today announced the initial production rate from its Lee 16-21 #1H Bakken well and provided an operations update regarding its Williston Basin drilling program ... Williston Basin -- Bakken Drilling Program ... Upon completion of the drilling, a sleeve was run into the hole... (Primezone Releases)
State to layoff 319 workers Nov 17, 2009
None of the cuts will come in the department's oil and gas program, where the state recently raised fees to pay for 37 new hires to do permitting and inspection work on hundreds of new wells tapping into the Marcellus shale, a deep rock formation underlying three-fourths of the state and attracting widespread drilling interest ... Greg Vitali, D-Delaware, said the DEP layoffs could have been avoided had the Rendell administration backed a severance tax on Marcellus drilling as part of the state... (Pittsburgh Post-Gazette, PA)
RIL to join hunt for shale gas Nov 16, 2009
According to Vijay Kelkar, former petroleum secretary and chairman of the 13th finance commission, its innovative technology using horizontal drilling (allowing the gas to be brought out easily) that made this fuel a commercial possibility. Mr Kelkar had floated a paper on how such non-conventional possibilities existed in gas hydrates deposits in sea near the Andaman and Nicobar Islands. (India Times)
Tiny bubbles clean oil from water Nov 16, 2009
So-called "produced water" from oil and gas drilling sites on land ... Microbubbles in a chemical reactor like the one shown here are crucial to a new method for cleaning up oil sheen and other pollutants released into water from oil drilling. (EurekAlert!)
Three Tempting Stocks for a Hot Takeover Market Nov 16, 2009
Another potential takeover target is , an offshore oil drilling company based in Dallas ... Some of Enscos rivals, Diamond Offshore Drilling Inc. and Noble Corp., also look like takeover bait to me. (Bloomberg -- Columnists)
Oil and gas find will benefit the country- Amua-Sekyi Nov 16, 2009
It was on the theme: " The Emerging Oil and Gas Industry :The Impact of Human Rights on the Socio-Economic Development of Ghana." She said drilling of oil and gas polluted the environment in various ways, which led to climate change. Nana Amua-Sekyi said environmental pollution could deny the people their right to work or livelihood and lead to human right abuses. (Ghana Web, Ghana)
Australian Geothermal Energy Developers May Merge Because of Funding Needs Nov 16, 2009
The government plans to allocate a further A$35 million from a A$50 million geothermal drilling program, Fergusons spokesman, Michael Bradley, said Nov. 13 ... Drilling poses a challenge, and achieving the right flow rates and financing the cost of delivering the energy to the market are among other risks, according to a presentation Kallis gave in October. (Bloomberg -- Australia & New Zealand)
Click to read:In China, Obama Meets America's Lender Nov 16, 2009
The Chinese just bought the OIL COMPANY and now they are drilling off the shore. heh heheheheheheh dump shhhhhhh. (CBS News)
Alaska Fights to Reverse Polar Bear Listing Nov 16, 2009
Fearing roadblock to drilling, Alaska fights to take polar bears off threatened species list. By DAN JOLING Associated Press WriterANCHORAGE, Alaska November 15, 2009 (AP) The Associated Press. (ABC News -- Wire)
Former UN diplomat defends Kurdistan oil interests Nov 15, 2009
The newspaper said he was paid by Norwegian oil company DNO to negotiate a drilling contract with the Kurds in 2004. In 2005, Galbraith served as an adviser to the Kurdish regional government and drafted a part of the Iraq Constitution that gives Kurds control over internal affairs that could result in their control over new oil finds in northern Iraq. (Fresno Bee -- Nation)
Higher OSHA penalties gain support in Wyoming Nov 15, 2009
They are Cyclone Drilling Inc., Kumelos Design & Construction Inc., Nabors Drilling USA LP, Patterson-UTI Drilling Company LLC, and Unit Drilling Co.. Patrick Hladky, contract manager for Cyclone Drilling, said the citations his company received were for minor violations ... Cyclone Drilling Inc.. (Casper Star-Tribune, WY)
Kufuors Legacy of Development, Second to None Nov 15, 2009
Ghanaians were therefore anxiously looking forward to seeing their "Moses to free them from bondage. Esther Smiths Ewurade Kasa lyrics were on the lips of everybody. The rate of inflation was high, interest rate was high, the unemployment rate was high, social infrastructure was nothing to write home about, there was high incidence of social vices, there was general insecurity in the country, the cash and carry system was killing the poor, the educational system was in a mess, there... (Ghana Web, Ghana)
GAF want media to avoid reports that undermine peace Nov 15, 2009
Major General Blay gave the assurance that the GAF would step up efforts at safeguarding the oil exploration activities in the Western part of the country's waters with the expected first commercial drilling in the third quarter of the year. "We would also vigorously confront and eradicate the menace of armed robbery in collaboration with the Police," he added. (Ghana Web, Ghana)
NASA finds water on the moon Nov 15, 2009
"Multiple lines of evidence show water was present in both the high angle vapor plume and the ejecta curtain created by the LCROSS Centaur impact. "The concentration and distribution of water and other substances requires further analysis, but it is safe to say Cabeus holds water," Colaprete said. Peter Schultz, professor of geological sciences at Brown University and a co-investigator on the LCROSS mission, expressed hope that more water could be found on the moon. "What's really exciting is... (India Times, India -- Health/Science)
Privatization plan to bolster state revenues Nov 14, 2009
SACRAMENTO Gov. Arnold Schwarzenegger unveiled a pair of financial disaster plans Thursday, proposing to address the state's budget crisis by slicing up to seven days off the public school year, releasing thousands of inmates from prison and packing others into county jails, cutting off healthcare to more than 200,000 children and drilling for oil off the Santa Barbara coast. The governor presented lawmakers with two alternative budgets. (Yahoo News -- Arnold Schwarzenegger)
EPA holds National Public Hearing on Jubilee Phase 1 EIA Nov 14, 2009
The public hearing was part of the mandatory process Tullow was committed to before securing a permit to start oil drilling. The Accra forum was the last in the series after Jomoro, Ellembele, Nzema East, Ahanta West, Shama and Sekondi-Takoradi. (Ghana Web, Ghana)
Fixing Mexico Easy as `Things Are So Screwed Up,' Central Bank Chief Says Nov 14, 2009
The country should change rules overseeing the energy industry to encourage foreign investment in offshore oil drilling, Ortiz said. We have been wasting opportunities for many years for economic reform, Ortiz said. (Bloomberg -- Latin America)
Petrobras Profit Falls 26% as Output Boosted to Make Up for Oil Price Drop Nov 14, 2009
The company said Nov. 12 it finished drilling its fourth well at the offshore Tupi field and said the results reinforce previous estimates of 5 billion to 8 billion barrels of recoverable oil and equivalents at the site. That would make the field the biggest find since Mexicos Cantarell in 1976. (Bloomberg -- Latin America)
Sarah Palins book goes rogue on some facts Nov 14, 2009
"She just kept talking about drilling for oil.". . (MSNBC -- Politics)
Sarah Palin's Book: The Fact Check Nov 14, 2009
"She just kept talking about drilling for oil.". PALIN: "Was it ambition? I didn't think so. Ambition drives; purpose beckons." Throughout the book, Palin cites altruistic reasons for running for office, and for leaving early as Alaska governor. (CBS News)
the excitement among conservative pundits over Sarah Palins upcoming Oprah interview Nov 14, 2009
During her book tour, Ms. Palin is sure to mention that the Obama administration's opposition to offshore drilling and domestic nuclear power, and its support for an onerous cap-and-trade scheme, will raise energy prices across the board. But she also might spend less time discussing campaign intrigue and Alaska trivia, and more time outlining how to spur job creation through tax reform. (Harper's Magazine)
Ghanas Oil Find What is our Real Stake? Nov 14, 2009
The Chinese were brought in at the early stage during the drilling. They were interested, but they backed out because their technology was not up to the task of exploring in the deep seas. (Ghana Web, Ghana)
Enerplus reports third quarter results for 2009 Nov 13, 2009
Contingencies may include factors such as economic, legal, environmental, political and regulatory matters or a lack of markets. It is also appropriate to classify as contingent resources the estimated discovered recoverable quantities associated with a project in the early evaluation stage. (Canada Newswire)
The Country Curmudgeon A crisis of will Nov 13, 2009
Clean, new coal- and gas-fired plants coupled with expanded exploration and oil drilling could easily tide us for the interim if only the greenies would get out of our way. The long-term solution lies with nuclear technology. (Ontario Argus Observer, OR)
Mosaic Oil boosts balance sheet Nov 13, 2009
"The funds ... will be used to finance Mosaic Oil's exploration and development plans with a particular emphasis on drilling new oil wells to maximise liquid hydrocarbon production rates.". Shares in Mosaic closed half a cent, or 4. (Sydney Morning Herald -- Business)
Bankers Petroleum announces third quarter financial and operational results Nov 13, 2009
Horizontal Drilling Update. CALGARY, November 13, 2009 /CNW/ - Bankers Petroleum Ltd. ('Bankers' or the 'Company') (TSX: BNK, AIM: BNK) is pleased to announce its financial and operating results for the period ended September 30, 2009. (Canada Newswire)
Scientist: CO2 not causing global warming... Nov 13, 2009
The Vostok Ice Core drilling show that in the last 11500 years the average temperature was -0. 4 deg. (The Drudge Report)
Native elder tells drilling proponents, 'Chill, baby, chill' Nov 13, 2009
But while Palin calls drilling an answer to the nation's energy needs, James calls it an affront ... She and other Alaska Natives were in Washington this week to lobby against drilling in the Arctic National Wildlife Refuge and on offshore sites in Alaska ... James said drilling for oil threatens the birth place of the porcupine caribou, a sacred figure to the Gwich'in people. (Juneau Empire)
The Palin Persuasion Nov 13, 2009
In an August ABC News/Washington Post poll, for instance, almost two-thirds of respondents supported more oil and gas drilling. A 52-percent majority favored building more nuclear power plants. (CBS News -- Opinion)
Market Winners & Losers: Advanced Micro Devices, Eastman Kodak Nov 13, 2009
Inc. () The drilling contract provider followed crude lower, dropping 5. RDC shares closed at $25. (Fox News)
EnCana Third-Quarter Profit Plunges on Lower Prices for Oil, Natural Gas Nov 13, 2009
These volumes will be added again in the winter drilling season, EnCana said. Oil production rose on higher volume from its Foster Creek project. (Bloomberg -- Canada)
SandRidge reports Q3 net loss to stockholders Nov 13, 2009
Currently, SandRidge said it has nine rigs operating in the Pinon Field, with five drilling. SandRidge also said construction of the Century Plant remains on schedule and that it expects the first start-up in July. (Fort Stockton Pioneer, TX)
Storm Exploration Inc. Is Pleased to Announce Its Financial and Operating Results for the Three and Nine Months Ended September 30, 2009 Nov 13, 2009
No further step-out drilling is planned for the fourth quarter ... We have postponed drilling two locations (75% average working interest) planned for the fourth quarter that were twins of existing wells targeting bypassed pay in a shallower formation ... Drilling density would initially be one horizontal well per section. (CCNMatthews Press Releases)
NuVista Energy Ltd.: Third Quarter Interim Report Nov 13, 2009
In addition to record production, NuVista also closed and integrated a significant acquisition, adding a new core area in Northeast British Columbia and Northwest Alberta, and began a horizontal drilling program in our West of the Fifth Meridian and West of the Sixth Meridian ("W5/W6") core areas to test recovery concepts on four different scalable resource plays ... Our drilling program benefited from lower drilling and completion costs resulting from reduced industry activity levels and... (CCNMatthews Press Releases)
Xtreme Coil Achieves Record Third Quarter EBITDA and Operating Days and Provides Update Nov 13, 2009
Source: Xtreme Coil Drilling Corp. ... CALGARY, ALBERTA--(Marketwire - Nov. 13, 2009) - Xtreme Coil Drilling Corp. (TSX: - ; "Xtreme Coil", the "Company") announces financial and operating results for the three ("2009 3Q") and nine months ended September 30, 2009, with comparative data for the same periods in 2008 and for the year ended December 31, 2008 and provides an operations update ... - completed XTC 200 DTRPLUS rig for re-entry drilling. (CCNMatthews Press Releases)
Galleon Announces Q3 2009 Financial and Operational Results Nov 13, 2009
The key to success has been the application of horizontal multi-fracture drilling to a low permeability reservoir historically known to be oil charged ... These vertical wells support the potential for low risk, repeatable horizontal drilling ... Although this project is in the early stage of its development, Galleon intends to accelerate the drilling program by drilling up to four horizontal wells in Q4 2009 to gather additional production data. (CCNMatthews Press Releases)
Avenir Diversified Income Trust Announces Third Quarter 2009 Results Nov 13, 2009
Within the Cadomin development focus area of Noel, the Trust acquired 112 square kilometers of 3D seismic covering the majority of the newly acquired lands to expedite the selection of drilling locations for the spring 2010 Cadomin development program ... The Trust will balance the remaining development activity in 2009 between oil and gas opportunities based on commodity pricing and the ability of the Trust to participate in the Alberta royalty drilling credit initiative ... A number of factors... (CCNMatthews Press Releases)
Editorial: Make Florida a leader in green energy Nov 13, 2009
Atwater wants to wait for a series of studies to be completed before he will allow the Senate to consider lifting a ban on drilling in a band three to nine miles offshore ... But the simple-minded drill, baby, drill push that has finally shaken state opposition to drilling rigs in the eastern gulf is not enough by itself ... Atwater could break that stalemate if he would offer progress on drilling in return for movement on renewables and alternative energy. (The News-Press -- Opinion)
Recovery Energy Acquires Three Wells, Continues to Capitalize on Energy Sector's Recovery Nov 12, 2009
In addition to the existing wells, Recovery has identified two additional potential drilling locations, which could materially increase production. "This initial transaction is important," said Recovery Energy's CEO, Jeffrey Beunier, "because it provides a starting point for Recovery Energy as we seek to build the company into a premier independent domestic oil producer.". (Primezone Releases)
Energy XXI Gulf Coast, Inc. Announces Acceptance of Notes for Exchange and Expiration of Debt Exchange Offer and Consent Solicitation Nov 12, 2009
Factors that could affect the Company's future results include: the Company's business strategy; the Company's financial position; the Company's cash flow and liquidity; declines in the prices we receive for the Company's oil and gas affecting the Company's operating results and cash flows; economic slowdowns that can adversely affect consumption of oil and gas by businesses and consumers; uncertainties in estimating the Company's oil and gas reserves; replacing the Company's oil and gas... (Primezone Releases)
Petrobank Records Third Quarter Net Income of $54.8 Million Nov 12, 2009
As previously reported, at Conklin (Whitesands Project), P1 was shut in on March 31st and P2 on July 24th to drill P1B and P2B. In August and September, P3B air injection was reduced and production stabilized at 95 bopd during the drilling and completion of the P1B and P2B wells ... Drilling operations started on July 24th with expected completion time similar to P1B. However, during the drilling operations we encountered several mechanical challenges that eventually resulted in extended milling... (CCNMatthews Press Releases)
Niger Delta Militants Training Ghanaians Nov 12, 2009
Dr. Atuguba in an interview on the Citi Breakfast Show on Wednesday said the essence of militants' interest in Ghana is to mentor folks in the Western Region of Ghana, on whose offshore, the country will be drilling oil to be protective of their interest. He said, when he visited the Western region a few weeks ago, he discovered that groups there were already creating linkages with groups in the Niger Delta. (Ghana Web, Ghana)
Natives visit D.C. to seek restrictions on drilling Nov 12, 2009
WASHINGTON -- Anti-drilling activists visited federal officials this week to lobby against drilling in the Arctic National Wildlife Refuge and on offshore sites in Alaska ... James said drilling for oil on the refuge's coastal plain -- a federal area estimated to hold major oil fields but now closed to oil development -- would threaten the birth place of the Porcupine caribou herd, sacred to the Gwich'in people ... "We are caribou people. It's our clothing, our story, our song, our dance and our... (Anchorage Daily News)
Satellite Imagery Used To Identify Active Magma Systems In East Africa's Rift Valley Nov 12, 2009
Geothermal energy is generated by drilling deep holes into the Earth's crust, pumping cold water through one end so by the time it resurfaces it is steam, which is then used to fuel a turbine, which in turn drives a generator, and creates power. "This study demonstrates the potential for using InSAR to measure active magmatic and tectonic phenomena in Africa, allowing us to watch the processes by which continents break apart" says lead author Juliet Biggs, who has just begun a 2-year project at... (Science Daily)
Destiny Resource Services Corp. Announces Q3'09 Results Nov 12, 2009
Our Houston based survey and drilling businesses have excellent prospects in front of them and we anticipate the ability for increased utilization of our assets in this market ... Our Houston based survey and drilling businesses have excellent prospects in front of them and we anticipate the ability for increased utilization of our assets in this market. (CCNMatthews Press Releases)
Cequence Energy Ltd. announces third quarter results Nov 12, 2009
CALGARY, Nov. 12 /CNW/ - Cequence Energy Ltd. ('Cequence' or the 'Company') (TSX: 'CQE') is pleased to announce its operating and financial results for the third quarter ended September 30, 2009 (Canada Newswire)
Opponents state case against drilling Nov 12, 2009
We've reported the pro-drilling argument here, especially the one most relevant to Brevard -- that jobs and a windfall of oil money would help keep schools and state government in the black ... I asked two local leaders opposed to drilling off Florida's Gulf Coast ... Q: What do you make of the economic potential from drilling 3-10 miles offshore. (Florida Today)
Devon Cuts Peak Production Estimate at Brazil's Offshore Polvo Oilfield Nov 12, 2009
Devon is drilling the well 16 miles (25. 7 kilometers) north of the Wahoo prospect in the pre-salt area of offshore Brazil. (Bloomberg -- Latin America)
Norex Reports Improved Third Quarter Results Nov 12, 2009
In the United States, the Company operated a crew in California where there has been a renaissance in oil-directed drilling ... Prior to seismic data acquisition, many customers look to Norex to procure and manage third-party services related to the use of shot hole drilling, ground surveying and line-clearing. (CCNMatthews Press Releases)
