Latest Petroleum Stories

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...

DENVER, May 28, 2013 /PRNewswire/ -- Magellan Petroleum Corporation (NASDAQ: MPET) Dear Shareholders, In recent months, Magellan has made significant progress towards adjusting our corporate platform and realigning our capital structure and shareholder base. While I am proud of our achievements, I believe that Magellan will only deliver true value creation for its shareholders from developing our oil and gas assets. Towards that end, we have been working very diligently, and I...

VANCOUVER, May 28, 2013 /PRNewswire/ - May 28, 2013 - TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF), reports that with the completion of the Company's Taranaki Basin production facility expansion and associated pipeline, all but six wells capable of commercial production have now been tied into the facility and optimized for long-term production. With all production facilities (100% owned and operated by TAG) now in place, the Company is able to rapidly commercialize any new...

TORONTO, May 27, 2013 /PRNewswire/ - Pacific Rubiales Energy Corp. (TSX: PRE; BVC: PREC; BOVESPA: PREB) provided today an operations update on the Bilby-1 exploration well, drilling on block S-M-1166, in the Santos Basin, offshore Brazil. The Bilby-1 well was drilled as part of an agreement announced by the Company on September 18, 2012, as a minimum work commitment for five offshore blocks (S-M-1101, S-M-1102, S-M-1037, S-M-1165 and S-M-1166), where the Company holds a 35%...

CALGARY, May 24, 2013 /CNW/ - Gondwana Gold Inc. (TSXV:PAO) ("Gondwana" or the "Company") announces that it views the recent announcement by HRT Participações em Petróleo S.A. ("HRT") (see press release of HRT dated May 20, 2013) regarding the results of the Wingat-1 well in the Walvis Basin as positive in the context of establishing a working petroleum system in the deeper waters of Namibia. The recovery of light oil and the identification of two high Total Organic Content...

PORT MORESBY, Papua New Guinea and HOUSTON, May 24, 2013 /PRNewswire/ -- InterOil Corporation (NYSE:IOC) (POMSoX:IOC) and its joint venture partner, Pacific LNG Group, have entered into exclusive negotiations with ExxonMobil Papua New Guinea Ltd., a subsidiary of ExxonMobil (NYSE:XOM), on the development of Petroleum Retention License 15 (PRL 15), which comprises the Elk and Antelope fields in the Gulf Province of Papua New Guinea. The transaction has been discussed with the...