By Andrea: http://oilshalegas.com
Contango Oil & Gas Company (MCF) announced today that it has committed to invest up to $20 million over the next two years, in a joint venture that will acquire, operate, explore, and develop onshore unconventional shale operated and non-operated oil and natural gas assets (including undeveloped oil and gas leasehold interests), as well as produce and sell any hydrocarbons produced from such assets. Other participants include Alta Resources, LLC and Blackstone Capital Partners.
Kenneth R. Peak, Contango's Chairman and Chief Executive Officer, said, "We are pleased about the opportunity to be partners once again with Joe Greenberg and Alta Resources. Alta was our partner in our very successful Fayetteville Shale investment and they have been leaders in recognizing and capturing value in shale plays. We also look forward to being partners with Blackstone with their financial acumen and expertise."
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Tuesday, April 12, 2011
Magnum Hunter Resources (MHR): Marcellus Shale Update
By Andrea: http://oilshalegas.com
Magnum Hunter Resources Corporation (MHR) announced this afternoon that the Supreme Court of British Columbia today issued a final order approving the acquisition by Magnum Hunter of NGAS Resources, Inc. in an all-stock transaction structured as a statutory arrangement under British Columbia law, where NGAS is organized. NGAS Resources' primary function is in the Appalachian Basin where Marcellus Shale can be found.
Additionally, the NGAS shareholders approved the acquisition of NGAS by Magnum Hunter on April 8, 2011. The transaction, which is subject to additional closing conditions, is expected to close tomorrow, April 13, 2011. Upon closing of the transaction, each outstanding common share of NGAS will be transferred to Magnum Hunter for the right to receive 0.0846 shares of Magnum Hunter common stock, and NGAS will become a wholly-owned subsidiary of Magnum Hunter.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Magnum Hunter Resources Corporation (MHR) announced this afternoon that the Supreme Court of British Columbia today issued a final order approving the acquisition by Magnum Hunter of NGAS Resources, Inc. in an all-stock transaction structured as a statutory arrangement under British Columbia law, where NGAS is organized. NGAS Resources' primary function is in the Appalachian Basin where Marcellus Shale can be found.
Additionally, the NGAS shareholders approved the acquisition of NGAS by Magnum Hunter on April 8, 2011. The transaction, which is subject to additional closing conditions, is expected to close tomorrow, April 13, 2011. Upon closing of the transaction, each outstanding common share of NGAS will be transferred to Magnum Hunter for the right to receive 0.0846 shares of Magnum Hunter common stock, and NGAS will become a wholly-owned subsidiary of Magnum Hunter.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Wednesday, March 23, 2011
Kodiak Oil and Gas Corp: Bakken Shale Update
By Andrea: http://oilshalegas.com
Kodiac Oil and Gas Corp. (KOG) recently released an update on their Bakken shale activity located in Dunn County, ND:
Kodiak will be mobilizing its third drilling rig in the Williston Basin within 30 days. Kodiak is also participating in one non-operated drilling rig with its joint venture partner in the Dunn County area of mutual interest. The joint venture partner recently reached total depth on its first two long-lateral middle Bakken wells and they are awaiting completion. Kodiak owns a 50% WI and 41% NRI in both wells and retains a comparable interest in all of the AMI lands. The Company has recently been notified that its joint venture partner intends to mobilize a second rig to the AMI in mid-year 2011.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Kodiac Oil and Gas Corp. (KOG) recently released an update on their Bakken shale activity located in Dunn County, ND:
Kodiak will be mobilizing its third drilling rig in the Williston Basin within 30 days. Kodiak is also participating in one non-operated drilling rig with its joint venture partner in the Dunn County area of mutual interest. The joint venture partner recently reached total depth on its first two long-lateral middle Bakken wells and they are awaiting completion. Kodiak owns a 50% WI and 41% NRI in both wells and retains a comparable interest in all of the AMI lands. The Company has recently been notified that its joint venture partner intends to mobilize a second rig to the AMI in mid-year 2011.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Sunday, March 20, 2011
Kodiac Oil and Gas Corp (KOG) : Bakken Shale Update
By Andrea: http://oilshalegas.com
Kodiac Oil and Gas Corp. (KOG) recently released an update on their Bakken shale activity located in Dunn County, ND:
Kodiak will be mobilizing its third drilling rig in the Williston Basin within 30 days. Kodiak is also participating in one non-operated drilling rig with its joint venture partner in the Dunn County area of mutual interest. The joint venture partner recently reached total depth on its first two long-lateral middle Bakken wells and they are awaiting completion. Kodiak owns a 50% WI and 41% NRI in both wells and retains a comparable interest in all of the AMI lands. The Company has recently been notified that its joint venture partner intends to mobilize a second rig to the AMI in mid-year 2011.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Kodiac Oil and Gas Corp. (KOG) recently released an update on their Bakken shale activity located in Dunn County, ND:
Kodiak will be mobilizing its third drilling rig in the Williston Basin within 30 days. Kodiak is also participating in one non-operated drilling rig with its joint venture partner in the Dunn County area of mutual interest. The joint venture partner recently reached total depth on its first two long-lateral middle Bakken wells and they are awaiting completion. Kodiak owns a 50% WI and 41% NRI in both wells and retains a comparable interest in all of the AMI lands. The Company has recently been notified that its joint venture partner intends to mobilize a second rig to the AMI in mid-year 2011.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
McKenzie County, ND: Bakken Shale Update
By Andrea: http://oilshalegas.com
Kodiak Oil and Gas Corp. (KOG) recently released an update on their activity in the Bakken Shale located in McKenzie County, ND:
In 2010, Kodiak spud or participated in seven gross (4.1 net) wells and completed two gross (1.0 net) wells on its McKenzie County leasehold. During 2011, Kodiak plans to drill or participate in nine gross (6.7 net) wells and complete 10 gross (7.7 net) wells in this area. Kodiak expects to operate all nine gross wells to be drilled, with an estimated 74% average working interest. As of February 28, 2011, three gross (2.4 net) wells, one of which is a Three Forks test, were drilled and awaiting completion in McKenzie County. Completion work is scheduled for March 2011 on the first of two drilling pads in this area.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Kodiak Oil and Gas Corp. (KOG) recently released an update on their activity in the Bakken Shale located in McKenzie County, ND:
In 2010, Kodiak spud or participated in seven gross (4.1 net) wells and completed two gross (1.0 net) wells on its McKenzie County leasehold. During 2011, Kodiak plans to drill or participate in nine gross (6.7 net) wells and complete 10 gross (7.7 net) wells in this area. Kodiak expects to operate all nine gross wells to be drilled, with an estimated 74% average working interest. As of February 28, 2011, three gross (2.4 net) wells, one of which is a Three Forks test, were drilled and awaiting completion in McKenzie County. Completion work is scheduled for March 2011 on the first of two drilling pads in this area.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Dunn County, ND: Bakken Shale Update
By Andrea: http://oilshalegas.com
Kodiac Oil and Gas Corp. (KOG) recently released an update on their Bakken shale activity located in Dunn County, ND:
Kodiak will be mobilizing its third drilling rig in the Williston Basin within 30 days. Kodiak is also participating in one non-operated drilling rig with its joint venture partner in the Dunn County area of mutual interest. The joint venture partner recently reached total depth on its first two long-lateral middle Bakken wells and they are awaiting completion. Kodiak owns a 50% WI and 41% NRI in both wells and retains a comparable interest in all of the AMI lands. The Company has recently been notified that its joint venture partner intends to mobilize a second rig to the AMI in mid-year 2011.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Kodiac Oil and Gas Corp. (KOG) recently released an update on their Bakken shale activity located in Dunn County, ND:
Kodiak will be mobilizing its third drilling rig in the Williston Basin within 30 days. Kodiak is also participating in one non-operated drilling rig with its joint venture partner in the Dunn County area of mutual interest. The joint venture partner recently reached total depth on its first two long-lateral middle Bakken wells and they are awaiting completion. Kodiak owns a 50% WI and 41% NRI in both wells and retains a comparable interest in all of the AMI lands. The Company has recently been notified that its joint venture partner intends to mobilize a second rig to the AMI in mid-year 2011.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Friday, January 7, 2011
MDU Resources Group, Inc. (MDU) - Bakken Shale Update
By Andrea: http://oilshalegas.com
An additional 10,000 net acres of leaseholds were recently acquired by MDU Resources Group, Inc. (MDU) in the Heart River area of the Bakken, bringing its total acreage position in the Bakken oil play to more than 67,000 net acres. In 2010, the company acquired more than 50,000 net exploratory acres in the North Dakota Bakken area, bringing its total acreage position in this oil play to more than 67,000 net acres. The newly acquired acreage, the Heart River project, is located in Stark County. Plans include drilling three exploratory wells this year to evaluate this acreage targeting the Three Forks formation. Initial lease terms extend up to five years and include renewal options available to the company.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
An additional 10,000 net acres of leaseholds were recently acquired by MDU Resources Group, Inc. (MDU) in the Heart River area of the Bakken, bringing its total acreage position in the Bakken oil play to more than 67,000 net acres. In 2010, the company acquired more than 50,000 net exploratory acres in the North Dakota Bakken area, bringing its total acreage position in this oil play to more than 67,000 net acres. The newly acquired acreage, the Heart River project, is located in Stark County. Plans include drilling three exploratory wells this year to evaluate this acreage targeting the Three Forks formation. Initial lease terms extend up to five years and include renewal options available to the company.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
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