Latest Carboniferous Stories

By Jerry Shottenkirk On a day when declining companies doubled up the gainers 2-1 on Wall Street, state energy stocks - particularly oil and gas exploration and production companies and service providers - responded to higher oil prices and were up all across the board. There aren't many stagnant stocks among Oklahoma energy companies, and on Monday, they once again bucked a Wall Street trend. "On Friday the Dow took a 200-point hit and all our energy stocks around here were up," said Bob...

Vortex Resources Corp. (the "Company") (OTC BB: VTEX) announced today that it has signed a Memorandum of Understanding (the "MOU") to enter into a definitive asset purchase agreement with Blackhawk Investments Limited ("Blackhawk"), based in London, England. Blackhawk will exercise its exclusive option to acquire all of the issued and allotted share capital in Sandhaven Securities Limited ("SSL"), and its underlying oil and gas assets in NT Energy (about 62% control). NT Energy holds rights...

Xtreme Oil & Gas, Inc. (Pink Sheets: XTOG) is pleased to announce that it has entered into a contract to purchase and develop approximately 936 acres in the Haynesville Shale. Xtreme's target in the Haynesville Shale is to acquire 50,000 acres. Xtreme Oil & Gas announced today that it has entered into a contract for the purchase and development of approximately 936 acres in the North East Texas region where Haynesville Shale is present. The property is presently undeveloped and Xtreme has...

Chesapeake Energy Corporation (NYSE:CHK) and BP America (NYSE:BP) today announced the execution of a Letter of Intent for a joint venture whereby BP will acquire a 25% interest in Chesapeake's Fayetteville Shale assets in Arkansas for $1.9 billion. The assets have current daily net production of approximately 180 million cubic feet of natural gas equivalent and include approximately 540,000 net acres of leasehold which the companies believe could support the drilling of up to 6,700 future...

RANGE RESOURCES CORPORATION (NYSE:RRC) Range Resources today provided an operations update. Previously the Company had indicated that the first phase of the pipeline and processing build out for its Marcellus Shale development in Appalachia was expected to be completed in the first quarter of 2009. Marcellus production was previously anticipated to reach 30 Mmcfe per day by the end of the first quarter 2009. Due to excellent progress by the Range and MarkWest teams and the various...

Enterprise Products Partners has announced that its affiliates have signed new long-term agreements with producers in the Barnett Shale region that will utilize approximately 900 million cubic feet per day of capacity on the partnership's 1.1 billion cubic feet per day Sherman Extension natural gas pipeline. The partnership also announced that it will construct a pipeline that will transport new supplies of natural gas produced from the Barnett Shale in Tarrant and Denton counties, Texas to...

By Steve Kuchera, Duluth News-Tribune, Minn. Aug. 7--IT DOESN'T LOOK EXTRAORDINARY -- but a rock found in Antarctica by a University of Minnesota Duluth professor is helping researchers reconstruct what a supercontinent that existed a billion years ago looked like. Analysis of the chunk of granite collected by UMD geology professor John Goodge in 2005 indicate that part of Antarctica and North America were joined 1.4 billion years ago. "We got really lucky -- I had no idea what we were...

By Jim Fuquay, Fort Worth Star-Telegram, Texas Aug. 7--Quicksilver Resources earned $52.4 million in the second quarter, up 65 percent from a year earlier, as the company's Barnett Shale production more than doubled. The Fort Worth-based independent producer said revenues jumped 45 percent, while production expenses rose only 5 percent and total expenses 21 percent. Overall production grew 13 percent to an average 236 million cubic feet of gas equivalent a day compared with a year ago,...

By Mike Lee, Fort Worth Star-Telegram, Texas Aug. 7--FORT WORTH -- As the Barnett Shale boom pushes pipelines farther into established neighborhoods, the City Council will sit down today with its natural gas drilling committee and state and federal regulators to discuss the web of pipelines being built to serve the gas field. Up to now, city officials have said there's little they can do to control pipelines. The companies are already overseen by state and federal law, and many have the...

By Mike Lee, Fort Worth Star-Telegram, Texas Aug. 6--One of the thorniest issues in the Barnett Shale comes to a head Thursday when the Fort Worth City Council sits down with its natural gas drilling committee, state and federal regulators to discuss the web of pipelines being built to serve the Barnett Shale boom. Up to now, city officials have said there's little they can do to control pipelines. The companies are already overseen by state and federal law, and many of the companies have...