Latest Petroleum Stories

LAS VEGAS, May 29, 2013 /PRNewswire/ -- Bayport International Holdings, Inc. (OTCPINK: BAYP). 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. Drilling Permit numbers 38 and 39 have been issued as per Pennsylvania Department of Environmental Protection (PA DEP). The interest is for 5.0% Working Interest and 3.75% Net Revenue Interest to be acquired in each of the two...

'LOI sets terms for 50% Working Interest in wells located in Central West Texas' DUBLIN, Ohio, May 29, 2013 /PRNewswire/ -- Cardinal Energy Group, Inc. (OTCQB: CEGX) has signed a Formal Letter of Intent to acquire a 50% working interest in the Conway-Dawson Lease located in Central West Texas. There are currently 46 wells and one injection well located within the Conway-Dawson Lease. There is additional acreage which will support drilling and completing up to 11 new development...

SPOKANE, Wash., May 29, 2013 /PRNewswire/ -- Daybreak Oil and Gas, Inc. (OTCBB: DBRM) ("Daybreak" or the "Company"), a Washington corporation, is pleased to announce the results of the fourth and fifth wells in the current drilling program at the East Slopes Project in Kern County, California. The Sunday #6 well was drilled to 2,104 feet and encountered approximately 20 feet of oil pay in the Vedder Sand. The Company owns a 37.5% working interest in the Sunday #6 well. The...

HOUSTON, May 29, 2013 /PRNewswire/ -- Sidewinder Drilling Inc. (the "Company") announced May 23, 2013 it will hold a conference call with bond investors on Wednesday, May 29, 2013 at 3:00 PM (Eastern Time) to discuss First Quarter 2013 results. Call-in details were provided via email to Sidewinder's existing bond holders. For those bond holders who are in need of the details and have not received them, please call the Company. Sidewinder was formed in 2011 by the Company's...

HAIFA, Israel, May 29, 2013 /PRNewswire/ -- Oil Refineries Ltd. (TASE: ORL.TA) (hereinafter "the Company,""ORL"), Israel's largest integrated refining and petrochemical group, announced yesterday the emergence of a malfunction in one of the plant's utilities unit. As a result, the manufacturing output of some of the Company's refining sector's units has been reduced. ORL has invited foreign experts, who recently arrived, in order to examine the problem and recommend a...

Nabors Drilling International Ltd. Reports Saving Over $5 Million Annually Using Puradyn Technology BOYNTON BEACH, Fla., May 29, 2013 /PRNewswire/ -- Puradyn Filter Technologies Incorporated (OTCQB: PFTI) announced today that Nabors Drilling International Ltd (NDIL), a subsidiary of Nabors Industries, confirmed savings in excess of $5 million annually in operations costs through implementation of bypass filtration technology and oil analysis. An article published on...

With all production facilities (100% owned and operated by TAG) now in place, the Company is able to rapidly commercialize any new discoveries and leverage its strong Taranaki-region operational position. This includes maximizing TAG Oil’s position as a completely independent processor, transporter, and marketer of the oil and gas the Company discovers, extracts and produces. Vancouver, B.C. (PRWEB) May 28, 2013 TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF), reports that with the...

HOUSTON, May 28, 2013 /PRNewswire/ -- Far East Energy Corporation (OTCBB: FEEC) today announced that 7 new wells have been commenced in the 12 days since the last 2013 drilling program update release issued on Thursday, May 16, bringing to 23 the number of wells spudded in 2013. They are production wells 62-4D, 81-1D, 81-2D, 81-3D, and 165D and appraisal/exploration wells SYSE-09 and SYE-09. Additionally five wells reached total depth (TD) in the past 12 days. These are the 62-2V,...

CALGARY, May 28, 2013 /PRNewswire/ - Madalena Ventures Inc. (TSXV: MVN) (the "Company" or "Madalena") is pleased to announce the filing on SEDAR of the unaudited interim consolidated financial statements and related Management's Discussion and Analysis ("MD&A") for the three months ended March 31, 2013. Selected financial and operational information is outlined below and should be read in conjunction with Madalena's unaudited interim consolidated financial statements and...

HOUSTON, May 28, 2013 /PRNewswire/ -- Baker Hughes Incorporated (NYSE: BHI) announced today that Mike Sumruld has been named Vice President and Treasurer. "Mike brings more than 20 years of diversified financial expertise, international experience and a record of solid performance within Baker Hughes to his new role as Treasurer," said Peter Ragauss, Baker Hughes Senior Vice President and Chief Financial Officer. "We believe this depth of experience will enable him to interact very...