Latest Carboniferous Stories

Chesapeake Energy Corporation (NYSE:CHK) today announced the execution of an agreement for a joint venture with StatoilHydro (NYSE:STO, OSE:STL) whereby StatoilHydro will acquire a 32.5% interest in Chesapeake's Marcellus Shale assets in Appalachia for $3.375 billion, leaving Chesapeake with a 67.5% working interest. The assets include approximately 1.8 million net acres of leasehold, of which StatoilHydro will own approximately 0.6 million net acres and Chesapeake will own approximately 1.2...

HOUSTON, Oct. 29 /PRNewswire-FirstCall/ -- Carrizo Oil & Gas, Inc. today announced the completion of a redetermination of the borrowing base for its credit facility. A consortium of six banks has agreed to increase the availability under the Company's credit facility by $57.5 million, or 35%, to $222.5 million. Carrizo currently has $120 million drawn and outstanding under the credit facility. Chief Executive Officer S. P. "Chip" Johnson, IV stated, "Carrizo's drilling success in the...

Research and Markets (http://www.researchandmarkets.com/research/19758a/us_shale_prospects) has announced the addition of Global Markets Direct's new report "US Shale Prospects Players, Projects, Costs, Returns" to their offering. Our US Shale Prospects: Players, Projects, Costs, Returns report helps to understand the evolution and the current levels of activity in the major shale basins in the US. High oil prices and the improvement in drilling technologies have made the production from...

MIDLAND, Texas, Oct. 16 /PRNewswire-FirstCall/ -- Mexco Energy Corporation today announced it has purchased interests in approximately 143 mineral acres amounting to an approximate 10% royalty in three gas wells located in Johnson County, Texas for $1.275 million. This property, operated by Williams Production Gulf Coast Company, L.P., contains three (3) development wells in the Newark East (Barnett Shale) Field which have been drilled and are being prepared for production. Approximately...

300 million-year-old discovery in an unlikely setting -- a suburban strip mallWhile paleontologists may scour remote, exotic places in search of prehistoric specimens, Tufts researchers have found what they believe to be the world's oldest whole-body fossil impression of a flying insect in a wooded field behind a strip mall in North Attleboro, Mass.During a recent exploration as part of his senior project, Richard J. Knecht, a Tufts geology major, and Jake Benner, a paleontologist and senior...

Chesapeake Energy Corporation (NYSE:CHK) today announced its wholly-owned subsidiary, Chesapeake Energy Marketing, Inc., has entered into a ten-year agreement for firm transportation of 375 million cubic feet (mmcf) per day of natural gas and an option to transport an additional 125 mmcf per day on the Fayetteville Express Pipeline, a new 42-inch, 187-mile pipeline system to be constructed by Kinder Morgan Energy Partners, L.P. and Energy Transfer Partners, L.P. The pipeline system that...

RAM Energy Resources, Inc. (Nasdaq: RAME) today announced an update to operating activity. Operational Highlights: -- Four wells drilled on the company's North Texas Barnett Shale properties during the last several months recently began producing during August, adding to production in the third quarter 2008; -- RAM expanded its position in the company's West Virginia Devonian Shale play with the purchase of a 14 mile pipeline, 6,000 acres of leases and approximately one billion...

By Schofield, D I Evans, J A; Millar, I L; Wilby, P R; Aspden, J A A new U-Pb date of 615.2 +- 13 (2sigma) Ma for the Twt Hill Granite, North Wales, contrasts with an Rb-Sr isochron age of 491 +- 12 (2sigma) Ma from the same body. The latter age is thought to result from isotope resetting during regional low-grade metamorphism or fault reactivation. The Rb-Sr age also coincides with the onset of latest Cambrian to Early Tremadoc regression and is taken to reflect tectonic uplift prior to the...

In the oil patch, they are calling it the "shale sweepstakes" -- a fevered rush to purchase drilling rights to natural gas that lies deep in deposits of shale rock. Output from these fields has been on a rocket ride for the past four years. It is the reason why natural gas production overall in the U.S. is expected to jump 9% in 2008, after nearly a decade of no growth. This is good news for consumers who'll be turning up their gas furnaces this winter. Natural gas prices have fallen 50% --...

Dune Energy, engaged in the exploration and production of natural gas and crude oil, has closed $38.1 million of its previously announced sale of its Barnett Shale assets, located in the Denton and Wise counties of Texas. The difference between the $38.1 million and the $41.5 million original sale price reflects post-closing adjustments. These funds will be used to eliminate the $28.1 million outstanding on Dune's $40 million revolving credit facility, and for general corporate purposes....