Harvest Natural Resources (ticker: HNR) is an oil and gas exploration company headquartered in Houston, Texas with exploration projects in Indonesia, Gabon, Oman and producing assets in Venezuela. On June 21, 2012 the company announced it had sold its 32% interest in its Venezuelan affiliate, Petrodelta, to the Indonesian state-owned oil company, PT Pertamina for $725 million in an all-cash
Callon Petroleum Company (NYSE: CPE), an independent oil and gas exploration & production (E&P) company operating both offshore and onshore in the United States, announced operational and financial results for the Q1’12 period ended March 31, 2012. CPE reported Q1’12 net income of $0.5 million, or $0.01 per share compared to Q1’11 net income of $4.2 million, or earnings per
Energy XXI (NASDAQ: EXXI) announced fiscal Q3’12 operating and financial results for period ended March 31, 2012. The company reported fiscal Q3’12 net income of $82.5 million, or earnings per share of $1.04, compared to fiscal Q3’11 net income of $14.0 million, or earnings per share of $0.19, an increase of 487%. Revenues during the quarter totaled $336 million, an
ATP Oil & Gas Corporation (NASDAQ: ATPG) initiated drilling the Shimshon well in the Levant Basin of offshore Israel. The Shimshon well (ATPG is the operator with a 40% WI) is in 3,622 feet of water with a target formation depth of 14,764 feet. “With the recent discoveries in the Levant Basin already exceeding 35 Tcf, the Basin is a
On April 10, 2012, John Schiller, chairman and chief executive officer at Energy XXI (NASDAQ: EXXI) was interviewed on CNBC’s Mad Money with Jim Cramer. In an exclusive interview on the show’s Executive Decision segment, John highlights: EXXI’s realized oil prices averaging $2.00 to $3.00 per barrel above Brent Crude Oil prices (March 2012: the company averaged $125 per barrel
ATP Oil & Gas Corporation (NASDAQ: ATPG) is engaged in the acquisition, development and production of oil and natural gas in the Gulf of Mexico, North Sea and more recently the Mediterranean Sea. The primary near-term catalysts for the company are increasing oil production in the deepwater Gulf of Mexico, as well as its exploration projects in the Mediterranean Sea
During the last six years, Energy XXI (NASDAQ:EXXI) has completed five major acquisitions, making EXXI the third largest producer on the Gulf of Mexico shelf. The company’s historic core strategy is to acquire and exploit producing oil properties; however, more recently, EXXI has been unlocking additional production value and reserve growth through its organic drilling programs. Today, EXXI reported four
Harvest Natural Resources (ticker: HNR) reported it had commenced drilling the Mafraq South-A (MFS-A) exploration well onshore Oman, the first of a two-well exploratory program. HNR also announced that the mean prospective resources for the targeted south segment total 1.25 Tcf of gas with 46 million barrels of condensate. The MFS-A well will test the Mafraq South structure, which is
On July 21, 2011 Harvest Natural Resources (ticker: HNR) provided an update on the progress of its exploration program offshore Gabon. With efforts to test deeper zones at its Ruche discovery announced in June 2011 offshore Gabon, Harvest announced that the Dussafu Ruche Marin-1 (DRM-1) well, deepened to 11,355 feet, was successful in logging 35 feet of oil pay within
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