Latest Carboniferous Stories

ReoStar Energy Corp. (OTCBB: REOS) today announced results of operations for the Fiscal Year (FY) ended March 31, 2008. The Company's previous fiscal year-end for 2007 reflects activity only for the three months ending March 31, 2007 due to the accounting treatment of the partnership interests merged into the Company. In certain instances, the company will be comparing results of the two successive 12-month periods and annualizing the results of the 2007 data. ReoStar's three key trailing...

By Jim Fuquay, Fort Worth Star-Telegram, Texas Jul. 8--Quicksilver Resources will add significantly to its Barnett Shale holdings with the announced $1.3 billion purchase of producing assets in northern Tarrant County and southern Denton County from Hillwood Oil & Gas and two partners. It's the largest acquisition ever for Fort Worth-based Quicksilver, which already has sizable holdings in Hood County and around Lake Arlington. The company plans to pay $1 billion in cash, much of it...

OKLAHOMA CITY and DALLAS, June 26 /PRNewswire-FirstCall/ -- Westside Energy Corporation ("Westside"), a publicly held exploration and production company, and the Crusader entities, a group of privately held independent oil and gas companies engaged in the development of unconventional resource plays which includes the application of horizontal drilling and cutting edge completion technology aimed at developing shale and tight sand reservoirs, jointly announced that the stockholders of...

By Jim Fuquay, Fort Worth Star-Telegram, Texas Jun. 23--Isaac Hayes was still in high school the first time he met a production supervisor for Devon Energy, who suggested that the youngster's interest in math and science could find a match in the oil and gas business. Now just a year away from his petroleum engineering degree at Texas A&M University, Hayes, of Justin, is in his third internship with Oklahoma City-based Devon, the biggest producer in the Barnett Shale and, not surprisingly,...

ST. MARYS, W.Va., June 20 /PRNewswire-FirstCall/ -- Trans Energy, Inc. (BULLETIN BOARD: TENG) announced today that its Hart #20 well in Wetzel County, West Virginia was successfully completed on June 12 and company personnel were currently supervising the frac clean-up process and managing the initial flow to the field gathering line. The Hart #20 is completed in the Marcellus shale, a prolific new "resource play" in Appalachia, similar to the Barnett Shale which has grown to become a...

By Brian Bowling, The Pittsburgh Tribune-Review Jun. 16--The Marcellus Shale is bringing some prosperity and some worry to Pennsylvania. Stretching from eastern Ohio and West Virginia to New York, the rock formation a mile underground crosses the state diagonally from Washington to State College to Scranton. With a recent study saying it could hold as much as 50 trillion cubic feet of recoverable natural gas, the shale has become a magnet for oil and gas companies. Thomas Murphy, a...

Pilgrim Petroleum Corporation (PINKSHEETS: PGPM) (FRANKFURT: PHV) announced that it has filed a drilling permit on its recently acquired Mulloy Estate Lease located in Palo Duro natural gas resource basin in North Texas, Wilbarger County. The Palo Duro Basin is located in the Texas Panhandle district and is bound on the north by the Amarillo-Wichita Uplift in Oklahoma, to the south by the Matador Arch-Permian Basin in West Texas. The Palo Duro Basin prospect, which is currently being...

By David Wethe and Jim Fuquay, Fort Worth Star-Telegram, Texas May 11--After traveling the world for much of his life, John Beaman is now happy to be touring Texas, thanks to the Barnett Shale. But the Johnson County resident, who spent 21 years in the military, is still a little perplexed about why it took so long to get the flow of natural gas royalties streaming into his bank account. His first check didn't appear until almost a year after drilling began. "They always told me, 'Well,...

Crosstex Energy, L.P. (NASDAQ:XTEX) (the Partnership), today announced plans to construct an $80 million natural-gas processing facility called Bear Creek in the Barnett Shale region of North Texas. The new plant, which is expected to become operational in the third quarter of 2009, will have a gas processing capacity of 200 million cubic feet per day (MMcf/d), increasing the company's total processing capacity in the Barnett Shale to 485 MMcf/d. The Bear Creek plant will be...

Chesapeake Energy Corporation (NYSE:CHK) today announced that it has recently initiated production of approximately 30 million cubic feet of natural gas equivalent (mmcfe) from the first 11 wells on its 18,000-acre Dallas/Fort Worth (DFW) International Airport lease. Acquired approximately one year ago for $185 million, the airport lease represents a significant value creation opportunity for Chesapeake, its minority- and women-owned business enterprise (M/WBE) partners and DFW...