CAMAC Statement on Events in the Congo

The management of CAMAC is gratified to learn that all remaining passengers, flight crew and its corporate aircraft have been released by officials in the Democratic Republic of Congo. The release was not based on an admission of guilt by anyone associated with this incident and the Congolese government filed no charges of wrongdoing. CAMAC had no financial interest in the business dealings that led to the airplane and passengers being detained.... Read more..

Offshore Finds Are Transforming Africa Into a Major Oil Producing Region

MarketResearch.com has announced the addition of GBI Research’s new report “Oil Market in Africa to 2015 – Offshore Finds Transforming Africa into a Major Oil Producing Region,” to their collection of Oilfield Equipment & Services market reports. For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=6164897 Since the discovery of the giant Jubilee field in 2007, Ghana has emerged as a... Read more..

Moody’s Confirms Nexen’s Investment Grade Credit Rating

Earlier today, Moody’s Investors Service announced the completion of their credit review and confirmed Nexen’s Baa3 rating with a negative outlook. We expect to retain this rating and remove the negative outlook by reducing our debt to levels commensurate with the rating by late this year or early 2012, and retaining sufficient cash to fund normal operating requirements. Meeting Moody’s leverage metrics can be achieved by a debt... Read more..

Pioneer Natural Resources to Present at the Raymond James Investors Conference

Pioneer Natural Resources Company today announced that Tim Dove, President and COO, will present at The Raymond James Investors Conference on Tuesday, March 8 at 9:50 a.m. ET. Any interested person may listen to the live presentation and view the presentation slides during the conference, or hear an archived version afterwards, by logging on to Pioneer’s website at www.pxd.com, selecting ‘Investors,’ and then selecting ‘Investor Presentations.’ Pioneer... Read more..

Court Rulings Favor HEI Resources in Colorado Securities Lawsuit

Springs-based HEI Resources Inc. and Charles Reed Cagle, founder of the oil and gas exploration company, are announcing several favorable rulings issued by a Colorado state district court as part of an ongoing lawsuit filed by Colorado Securities Commissioner Fred J. Joseph. The rulings handed down by the 2nd Judicial District Court in Denver were entered on Jan. 6, 2011, in Fred J. Joseph v. HEI Resources, Inc., et al., No. 09CV7181. HEI Resources,... Read more..

Sun River Energy, Inc. Announces Total Depth Reached on the Neal Heirs #1

Sun River Energy, Inc. Sun River Energy, Inc.’s (the “Company” or “Sun River”) wholly owned operating company, Sun River Operating, Inc., set pipe on the Neal Heirs #1 well in southwestern Panola County, Texas at a total depth of 11,073 feet. Logging was completed on December 25, 2010. All of the objective formations were penetrated and no unusual drilling conditions were encountered during drilling. Based on preliminary... Read more..

Delta Petroleum Corporation Announces the Closing of a New Senior Secured Credit Facility

Delta Petroleum Corporation, an independent oil and gas exploration and development company, announced today that it has closed on a new senior secured credit facility with Macquarie Bank Limited (“Macquarie”). As previously announced, the new credit facility is for $100 million, of which $50 million will be initially available to the Company. The $50 million is comprised of a $30 million revolving line of credit (Tranche A) and a $20... Read more..

Gulf Coast Fractionators Announces Expansion of Its Natural Gas Liquids Fractionation Facility

Gulf Coast Fractionators, a partnership among ConocoPhillips, Devon Energy Corporation and Targa Resources Partners LP announced plans to expand the capacity of its natural gas liquids fractionation facility located in Mont Belvieu, Texas. The maximum gross fractionation capacity of the facility will be expanded by approximately 42 percent (43,000 barrels per day) to 145,000 barrels per day. Targa Resources Partners owns a 38.8% interest in Gulf Coast... Read more..

Universal Energy Corp. Launches Aggressive 2009 Acquisition Plan

Universal Energy Corp., an emerging U.S. oil and gas exploration and production company, announced today the launch of its acquisition plan for 2009. “The decline in commodity prices over the past few months has brought about opportunities like I’ve never seen before,” commented Billy Raley, Chief Executive Officer of Universal Energy Corp. Raley continued, “We fully intend to acquire both producing properties and high impact... Read more..

Endeavour Announces Successful Appraisal of the Rochelle Discovery in United Kingdom

Endeavour International Corporation announced a successful up-dip appraisal of the Rochelle undeveloped discovery in Block 15/27 of the UK North Sea. Endeavour holds a 55.6 percent interest in the well and is operator for the block. Nexen Petroleum U.K. Limited is a joint venture participant and holds 44.4 percent interest. The Rochelle 15/27-11 appraisal well was drilled to a total depth of 10,369 feet subsea encountering 77 feet net pay in the Lower... Read more..