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Last updated on April 19, 2014 at 13:20 EDT

Latest Offshore oil and gas in the United States Stories

2013-04-08 12:22:40

LAS VEGAS, April 8, 2013 /PRNewswire/ -- Bayport International Holdings, Inc. (OTCPINK: EXTO). Today we are pleased to announce the signing of a Contract to purchase an interest in 2 oil wells to be drilled in the Milford Lease, Forest County, Pennsylvania. Permit numbers 30 and 68 have been issued as per Pennsylvania oil gas. The interest is for 5.0% WI and 3.75% NRI to be acquired in each of the two wells, a total of 10.0% working interest and 7.5% net revenue interest. Revenue numbers...

2012-06-21 10:21:45

HOUSTON, June 21, 2012 /PRNewswire/ -- Gulf Coast Energy Resources, LLC today announced it was the apparent high bidder on four leases in the Central Gulf of Mexico Lease Sale 216/222 (through its subsidiary GCER Offshore, LLC "GCER"). The four high-bid leases are located on the Gulf of Mexico Shelf in water depths ranging from 17 to 300 feet, and cover nearly 20,000 acres on a gross basis. GCER has a 50% working interest in each of the blocks and will operate three of the four leases....

2012-04-13 06:20:54

OKLAHOMA CITY, April 13, 2012 /PRNewswire/ -- PANHANDLE OIL AND GAS INC. (NYSE: PHX) today reported that is has leased partial rights to 2,846 of its net mineral acres located in Roger Mills County, Okla., to a large independent exploration and production company for $4,981,000. Panhandle also retained a 3/16th non-cost bearing royalty interest in all production from wells drilled on these leased rights. The rights leased were from the surface to 100 feet below the base of the...

2012-01-31 05:00:00

HOUSTON, Jan. 31, 2012 /PRNewswire/ -- W&T Offshore, Inc. (NYSE: WTI) reported that year-end 2011 proved reserves increased 44% to 116.9 million barrels of oil equivalent ("MMBoe"), which represents a reserve replacement ratio of 312% and an increase in PV-10 of proved reserves of 63%. It also announced that its Board of Directors approved the Company's 2012 Capital Budget of $425 million, which is a 37% increase over 2011 and is anticipated to be funded with internally...

2012-01-17 14:17:00

NEW ORLEANS, Jan. 17, 2012 /PRNewswire/ -- Treaty Energy Corporation (OTCQB: TECO) (www.treatyenergy.com), a growth-oriented international energy company, today reported progress on its projects to increase oil production on its Texas leases. Treaty Energy's Co-CEO Bruce Gwyn and CIO Lee Schlesinger recently returned from Texas where they were evaluating the Company's operations there. Mr. Gwyn stated, "Our goals were many: (1) view and analyze the fifteen Treaty oil leases in Texas; (2)...

Obama Administration Announces Offshore Drilling Plan
2011-11-10 06:36:44

As part of a five year proposal unveiled Wednesday, the White House announced plans to open new areas in the Gulf of Mexico and Alaska for offshore oil drilling, but will continue to prohibit development on the East and West Coasts, according to John M. Broder of the New York Times. Broder said that the Obama administration's proposals, which will cover the five-year period from 2012 through 2017, "disappointed environmentalists but fell far short of what the oil industry and its...

2011-06-13 08:20:00

HOUSTON, June 13, 2011 /PRNewswire/ -- Texas Oil and Minerals (OTC MARKETS: BNPD), http://www.texasoilandmineralsinc.com, is very happy to announce today that they have finalized the purchase of a twenty-five percent working interest in the Bryan Estate Leases located in the Damon Mound Field in Brazoria County Texas. The Damon Mound field is located on a Salt Dome which was discovered in 1915 but not developed until 1925. Since that time there have been hundreds of wells drilled, which...

2010-07-12 18:05:00

SMU professor highlights negative impacts of new Interior restrictions on offshore oil, natural gas operations DALLAS, July 12 /PRNewswire-USNewswire/ -- Responding to the U.S. Department of Interior's announcement today of new restrictions on deepwater oil and natural gas projects, Dr. Bernard Weinstein, associate director of the Maguire Energy Institute at Southern Methodist University's Cox School of Business, released the following statement: "The Interior Department's new ban on oil...

2010-06-25 15:12:00

WASHINGTON, June 25 /PRNewswire-USNewswire/ -- National Ocean Industries Chairman Burt Adams today issued the following statement on calls for liability caps and tax cuts for offshore industry: "NOIA and its members welcome a thoughtful and rational discussion of our Nation's energy needs and energy supply; however, such a discussion should not be an emotional knee jerk reaction to the ongoing crises in the Gulf of Mexico. "First and foremost, our collective attention, that of the...

2010-03-31 13:46:00

Production Off Atlantic Coast Important, But Congressional Moratoria Must be Lifted WASHINGTON, March 31 /PRNewswire-USNewswire/ -- Securing America's Future Energy (SAFE) today praised President Obama's announcement that the federal government will pursue oil and gas development in areas off the Atlantic Coast and in new areas in the Gulf of Mexico, but also cautioned that much work remained to open some of the nation's most productive offshore areas to energy production. (Logo:...