Petroleum
The merger of Burlington Resources Inc. and Poco Petroleums Ltd. will create a leading independent exploration and production company with a strong North American natural gas focus. The combined company will become one of the top four natural gas producers in North America, with a major presence in Western Canada.
Petroleum
FX Energy, Inc. (Nasdaq: FXEN), a Salt Lake City-based company, outlined its strategy to capitalize on its international play in Poland at the fourth annual Oil and Gas Conference hosted by EnerCom, Inc. and Kirkpatrick Energy Associates, Inc. The company has built an acreage position of 15.8 million acres,
Petroleum
Burlington Resources Inc., through its wholly-owned subsidiary, LL&E Algeria Ltd., has made a significant oil discovery in the Berkine Basin of Algeria. The MLNW-1 well, located on the Menzel Lejmat Block 405, has successfully tested oil in the Strunian F1 zone of a Devonian age reservoir. The well
Petroleum
Texas Governor George W. Bush has received an unprecedented $1.004 million in contributions from the oil and gas industries, far surpassing his competitors Vice President Albert Gore and Bill Bradley. Bush's strong ties to the energy sector, including a reputation as a former oil man and the
Petroleum
Oil exploration in Nigeria began in 1908 when Nigerian Bitumen Corp., a German company, started exploring for oil in the Araromi area of present-day Ondo State. The company abandoned its dry wells at the start of World War I in 1914, and it wasn't until 1936 that Shell
Petroleum
Bolivia's government, under President Hugo Banzer, is committed to solidifying its position as a leading energy hub in South America, attracting significant foreign investment in the process. Vice President Jorge Quiroga highlighted the country's potential, citing substantial investment, substantial natural gas reserves, and strategic partnerships with
Petroleum
Multiple companies have announced plans to broadcast their quarterly earnings conference calls over the internet, utilizing Investor Broadcast Network's Vcall service. This move allows investors and other stakeholders to access conference calls in real-time, eliminating the need for manual transcription or recording methods. The broadcasts will provide investors
Petroleum
The merger between TotalFina and Elf Aquitaine, sparked by a hostile takeover bid, has reached a critical juncture. Institutional shareholders are closely watching the developments, with some applauding the speed of TotalFina's response and others questioning who will run the new company. The outcome hinges on the experience
Petroleum
Libya's National Oil Corporation (NOC) boasts an intricate network of pipelines that spans across the country, connecting its oilfields to Mediterranean terminals. After the nationalization of the oil industry in the early 1970s, NOC acquired full ownership of the pipelines, with companies retaining exploration and production (E&
Petroleum
BP Amoco has made a significant oil discovery in the Gulf of Mexico, estimated to hold at least 1 billion barrels of oil equivalent. The find, dubbed "Crazy Horse," is considered the largest in the deep-water Gulf and highlights the company's expertise in exploring challenging waters.
Petroleum
BP Amoco, one of the world's largest oil companies, is undertaking a significant restructuring effort, aiming to invest $26 billion over the next three years, cut costs by $4 billion, and sell assets worth $10 billion. The plan, announced yesterday, is designed to meet ambitious new financial targets,
Petroleum
The US-Mexico natural gas trade is embroiled in a trade dispute, with Mexico freezing plans to remove a 4% tariff on US natural gas imports in response to a US anti-dumping investigation. The pipeline projects near the US-Mexico border, worth millions of dollars, are now in jeopardy. Mexico's
