Oil and Gas

Magnolia Petroleum Plc, the AIM quoted onshore US focused oil and gas exploration and production Company, reports an update on its reserves and production. Overview – Assessment of net attributable proved and developed producing reserves (‘PDP’) estimated at 167 Mbbl of oil and condensate and 450 MMcf gas with an NPV10 of US$8.416 million – […]

The share price of Xcite Energy (LSE:XEL) jumped 28.6% on the day, following the announcement that “its 100% owned subsidiary, Xcite Energy Resources Ltd (“XER”), has entered into a Collaboration Agreement with Statoil (U.K.) Ltd. (“Statoil”) and Shell U.K. Ltd. (“Shell”), which allows all the Parties to make available and share field-specific...

A year after Glencore and Xstrata merged into one of the world’s largest commodity trading and mining company, the Anglo-Swiss London-listed firm reported today its first full year production. Saved for zinc, production of every other natural resource that the FTSE 100 company mines was up. “Marketing performance during the quarter, across all business segments, […]

Gulf Keystone stock (LSE:GKP) is bearish in the medium-term and bullish in the long-term. The bearish bias is strong enough to make the bear profitable and to make the bull anxious. When the recent bearish bias began, it was thought that things would change as the price tested one support level after the other. However, […]

Profits of BP (LSE:BP.) for the first quarter of the year fell almost a fourth compared to the same period in 2013 but the oil giant announced it will issue quarterly dividend higher than a year ago, the London-listed firm said early Tuesday. In a statement, BP posted US$ 3.2 billion for the January – […]

North American Petroleum Plc, a company focussed on developing its interests in proven US onshore oil and gas formations, notes that Northcote Energy Ltd (AIM:NCT), its partner and operator of the 1,520 gross acre Zink Ranch Project in Oklahoma has today announced that two wells on the Project in which NAP has a 30% working […]

Rame Energy plc, the international energy consultant, engineer and power generator, has announced that it has executed binding terms leading to a power purchase agreement for its Punta Chome wind project in Chile. Empresa Electrica ERNC-1 SpA, a Chilean energy fund which purchases variable renewable power output and sells firm power to industrial customers, has […]

Tullow Oil (LSE:TLW) has decided to plug and abandon its second exploration well offshore of Mauritania after tit failed to show hydrocarbon, the independent oil and gas explorer said Friday. In a statement, the FTSE 100 oil producer said the Tapendar-1 well, which was drilled to test two targets, encountered water-bearing sands in one and […]

Is Tedd Kozel practicing for the next Olympic bobsled competition? Because it’s hard to find anything else sliding downhill at the same speed, unless it is Gulf Keystone’s (LSE:GKP) share price! No one else seems to know why, so my guess is as good as anyone else’s. The GKPshare price dropped 6.27% to 86.00 during […]

Planning to focus on giant Prudhoe Bay oilfield and progressing Alaska LNG opportunity BP has agreed to sell interests in four BP-operated oilfields on the North Slope of Alaska to Hilcorp. The sale agreement includes all of BP’s interests in the Endicott and Northstar oilfields and a 50 percent interest in each of the Liberty […]