Texas Oil and Gas - News Information - 11.24.2011

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Texas Oil and Gas  -  News and Information

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 Eagle Ford Shale, Barnett Shale, Austin Chalk.. and other news.

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Acquisition at Stake by Gail in Carrizo Press Information Bureau (press release) GAIL has formed an unincorporated joint venture in September' 2011, with Carrizo Oil & Gas Inc. (“Carrizo”), a NASDAQ (CRZO) listed company based in Houston, Texas to acquire 20 % interest in Carrizo's offered acreage in Eagle Ford Shale. ... See all stories on this topic »

Arizona energy company to acquire SA's Cross Border San Antonio Express American is an oil and gas exploration and production company that has operated and nonoperated properties in the Permian Basin of West Texas, as well as nonoperated leasehold interests in the Bakken-Three Forks Shale of North Dakota and the Eagle Ford ... See all stories on this topic »

Samson Buyout Brings More Private Equity to Shales NGI's Shale Daily (subscription) One year later KKR said it would invest up to $400 million in Hilcorp Resources Inc., a newly formed partnership created to own and develop 100000 net acres in the Eagle Ford Shale of South Texas leased by privately held Hilcorp Energy Co. ... See all stories on this topic »

A question of drilling: Great Bear optimistic about getting rig Petroleum News Great Bear sees the Shublik as its prime target for source rock oil production, given the similarity between that rock and the productive Eagle Ford shale in Texas. However, the company will sample the other North Slope source rock intervals during its ... See all stories on this topic »

This Company Just Tripled Its Dividend StreetAuthority But Valero (NYSE: VLO), the nation's largest independent refiner, is fortunate enough to have access to cheaper oil from the Eagle Ford Shale in south Texas -- and has been paying roughly $20 less per barrel. That gives the company a big edge over its ... See all stories on this topic »

Pryme to Participate in Anadarko Austin Chalk Well 4-traders (press release) Primary targets are the Wilcox formation at 12500 feet, the Austin Chalk at 15300 feet and the Eagle Ford Shale at 16000 feet. Pryme has approximately 9600 net acres within the Turner Bayou project covering all depths representing up to 30 potential ... See all stories on this topic »

Flint Hills celebrates 30 years in Corpus Christi Hydrocarbon Processing Today, we've come nearly full circle with the majority of the crude we refine being sourced locally, especially from the Eagle Ford [shale] play." The West Refinery, which was built in 1953, was acquired by Koch Refining Co. from Sun Oil Co. on ... See all stories on this topic »

Caza Oil & Gas rallies on well success in Texas Proactive Investors USA & Canada Shares in Caza Oil & Gas (LON:CAZA, TSE:CAZ) jumped this morning in London after the US focused firm reported that re-entry operations at its McMillan No.1 well in Texas were successful. The well was perforated at two intervals and fracture stimulated, ... See all stories on this topic » Proactive Investors USA & Canada

Things Get Testy Between Rice Professor and Alaskan Congressman NPR By Terrence Henry Oil and gas exploration are hot topics in Texas these days, but on the other side of continent, a debate is still brewing on whether or not to drill for oil in the Arctic National Wildlife Refuge. Historian Douglas Brinkley of Rice ... See all stories on this topic » NPR

Weir Group ups US shale gas position with $675m buy The Engineer London – Weir Group PLC is to acquire Seaboard Holdings Inc, a Houston, Texas,-based supplier of wellhead equipment to the growing North American unconventional oil and gas drilling and production markets for $675 million. The US manufacturer's surface ... See all stories on this topic »

KKR to Buy Samson for $7.2 Billion to Add Shale-Based Oil, Gas BusinessWeek The surge included the $3.5 billion agreement in June by KKR and Hilcorp Energy Co. to sell oil and gas leases in southern Texas to Marathon Oil Corp. The deal almost tripled the value of KKR's $400 million investment in a year. ... See all stories on this topic »

Lucas Energy acquires properties in Texas Energy Business Review Oil and gas firm Lucas Energy has closed an agreement to acquire all of the right, title and interest of Nordic Oil USA 1 in certain oil, gas and mineral leases in the US state of Texas. The company paid $22m to Nordic Oil USA 1 in the form of a ... See all stories on this topic »

Midland College to host oil patch water use conference My West Texas Providing water resource management to the oil and gas industry is one of Texerra's services. Last year Galusky worked with Dr. JP Nicot, research scientist for the UT Bureau of Economic Geology on a study for the Texas Water Development Board that was ... See all stories on this topic »

Schusterman Caps Israel-to-Tulsa Oil Career With KKR Sale BusinessWeek The sale will be the largest-ever leveraged buyout of an oil and gas producer, according to data compiled by Bloomberg. By the time her father died in 2000, Stacy was armed with a Yale University degree, an MBA from the University of Texas at Austin ... See all stories on this topic »

Milagro Oil & Gas Announces Third Quarter Financial Results And Provides An ... OilVoice (press release) Natural gas represented approximately 65% and 70% of the Company's total production in the three months ended September 30, 2011 and 2010, respectively. The Company completed the purchase of certain South Texas producing assets during the third quarter ... See all stories on this topic »

Weekly US oil and gas rig count drops by 1 San Jose Mercury News Of the major oil- and gas-producing states, Oklahoma gained five rigs, California and Pennsylvania rose by four each, North Dakota was up two and Colorado one. Texas declined by eight, West Virginia two and Louisiana, New Mexico and Wyoming one apiece. ... See all stories on this topic »

Game Theory 101 National Post The US State Department decision to punt the approval of the Keystone XL pipeline from Alberta to the Gulf Coast has heightened Canada's desire to build oil and gas pipelines to the West Coast for Asian markets. Canadians must be bewildered by the ... See all stories on this topic »

Barnett Shale rig count at 8-week high Fort Worth Star Telegram (blog) Sixty rigs were drilling today in North Texas' Barnett Shale, with more than one-third in Tarrant County, according to RigData. The rig count was up one from a week earlier and was the highest in eight weeks, despite continued weakness in natural gas ... See all stories on this topic »

Chesapeake nixes drilling in Southlake Fort Worth Star Telegram (blog) Chesapeake Energy is abandoning plans for Barnett Shale natural gas drilling in Southlake and will let its natural gas leases there expire. Oklahoma City-based Chesapeake, the No. 2 producer and most-active driller in the Barnett Shale, mailed about ... See all stories on this topic »

Chesapeake Energy to let leases in Southlake expire Fort Worth Star Telegram Chesapeake has a limited number of drilling rigs and will focus on other parts of the Barnett Shale and other gas plays, Wilson's letter reads. "With so many other attractive options in the Barnett Shale, and many cities eager to work with natural gas ... See all stories on this topic » Fort Worth Star Telegram

CVR Partners Beats Terra Nitrogen On Value, But Not On Risk Seeking Alpha ... drilling techniques to constrained shale gas deposits in the US Southeast and Northeast has dramatically increased the supply of natural gas over the past few years, driven by shale gas production in plays such as the Barnett Shale in Texas. ... See all stories on this topic »

UBS Upgraded Crestwood Midstream (CMLP) from Neutral to Buy; Fee-Based ... StreetInsider.com (subscription) While the partnership has diversified its shale exposure over the last year (adding assets in the Avalon, Granite Wash, Fayetteville and Haynesville Shales), it remains predominantly leveraged to the Barnett Shale (~80% of 3Q11 volumes). ... See all stories on this topic »

Natural Gas: Avoid Value Traps Seeking Alpha DVN is somewhat of a value trap operationally, as a company with fabulous promise in the early part of this decade (by being first and early in the Barnett Shale) but has yet to follow-up with a second hit anywhere close to the same magnitude. ... See all stories on this topic »

Fear and Fracking in Southlake Dallas Observer That's when land owners big and small were presented with checks for as much as $20000 per acre, in exchange for the opportunity to drill deep into the heart of the Barnett Shale's sweet spot. They were after natural gas, which at the time was selling ... See all stories on this topic »

Pryme Energy earns working interest in Anadarko's third Austin ...
Proactive Investors Australia
Pryme Energy paid slightly under US$1 million (A$1.03 million) to earn its working interest in Anadarko's third Austin Chalk well in the region, ...