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Strata-X Commences Drilling on Maverick Oil Project

  • Commenced drilling operations on the Cinco Saus Creek #1 well
  • Company expects to core approximately 600 feet of Eagle Ford and Buda Formation

Strata-X Energy Ltd. (TSX-V:SXE) (ASX:SXA) announce that the Company started drilling operations on the Cinco Saus Creek #1 well late on December 27. Cinco Saus Creek #1 is the Company’s first appraisal well in the Maverick Oil Project.

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Anglo American announces projects to support communities in Alaska

Anglo American plc recognises that the departure from Alaska of its wholly owned US subsidiary will have a longer-term impact on local communities. Anglo Pebble has consulted extensively with local community stakeholders and based on these discussions has proposed projects, which it will directly fund, representing a total investment of $6 million.

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Arch Coal Announces Completion of Financing Transactions

  • Increased Liquidity,
  • Extended Debt Maturities
  • Enhanced Financial Flexibility

Arch Coal, Inc. (NYSE:ACI) announced the successful completion of a series of financing transactions, including amendments to its senior secured credit facility, a $300 million senior secured Term Loan B facility, a previously announced private offering of $350 million aggregate principal amount of 8.000% Senior Secured Second Lien Notes due 2019 and the initial settlement of its previously announced cash tender offer for any and all of its outstanding 8.750% Senior Notes due 2016.

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Riverstone to Invest up to $300 million in Eagle Energy Exploration, LLC

Eagle Energy Exploration, LLC recently announced an equity commitment of up to $300 million from energy private equity firm Riverstone Holdings LLC.  The Riverstone commitment comprises up to $200 million from Riverstone Global Energy and Power Fund V (“Fund V”) and up to $100 million from Riverstone Energy Limited (“REL”).  Eagle will pursue oil and gas exploration and production opportunities in the Mid-Continent region of the United States, leveraging its deep operating experience in the region and building on its prior success accumulating, delineating and developing acreage in the Mississippi Lime.   

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Ur‐Energy Updates on Pathfinder Mines Acquisition

Ur‐Energy Inc. (TSX:URE, NYSE MKT:URG) is providing an update on the progress to closing the agreement to acquire Pathfinder Mines Corporation. Significantly, in recognition of current market conditions, Ur‐Energy has reached an agreement with the seller to revise the terms of the transaction. The parties are working to satisfy the remaining closing conditions to progress to a closing.

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Sasol Management Changes

Sasol announced the appointment of Stephen Cornell as the newest member of its management team. Cornell is currently the Chief Operating Officer for US Fuels and Global Head of Major Projects at BP plc. Reporting directly to Sasol’s Chief Executive Officer, David Constable, Cornell will be appointed as Sasol’s Executive Vice President: International Operations, with effect from 1 February 2014, based in Houston.

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BP Makes Gulf of Mexico Environmental Data Publicly Available

Access to data from the Deepwater Horizon Response and environmental assessment will lead to a better understanding of the condition of the Gulf

BP yesterday announced it is launching an effort to make a vast quantity of environmental data collected from the Gulf of Mexico publicly available and easily accessible.

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U.S. District Court Again Finds Severstal North America Has the Right to Produce Aluminized Boron Steels

Severstal North America, a subsidiary of OAO Severstal, announced that the U.S. District Court in Delaware found in summary judgment that ArcelorMittal’s reissue patent for aluminum coated steel sheet for hot stamping not infringed by Severstal Dearborn, LLC and the other defendants.

The District Court Judge stated the reissue patent was invalid because it was improperly broadened long after the permissible time period within which a patent may be broadened.

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NOV Wins 2013 World Oil Awards

National Oilwell Varco won the award for Best Health, Safety, Environment/Sustainable Development Onshore technology for its AQUA-VESTM Mobile Water Treatment System at the 2013 World Oil Awards Gala on October 17, 2013. Two other National Oilwell Varco technologies were finalists in the categories for Best Drilling Technology and Best Well Intervention.
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BP Partners with The University of Texas on Leading-Edge Energy Research

Company commits nearly $4 million for new, jointly administered program initially focused on BP’s Project 20K™, increased shale gas recoveries and other areas.

BP announced it will commit $4 million to launch a new strategic partnership with The University of Texas at Austin to support several leading-edge oil and gas industry research projects, with the potential for increased contributions as new studies are identified in the future.  

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