Treaty Energy Corporation (OTCBB: TECO) reported that the company has completed an agreement to acquire 54 oil and gas leases in Kansas and Missouri. The news release is quoted as saying: Current production has been increased from 115 bbl per day in October 2009, when the original agreement to acquire was signed, to approximately 150 [...]
On Monday, The Organization of the Petroleum Exporting Countries (OPEC) president Jose Botelho de Vasconcelos said it was still too early for the oil exporters’ group to make a decision on production changes. Global oil market still oversupplied. The news article is quoted as saying: The Organization of the Petroleum Exporting Countries will meet in [...]
U.S. natural gas inventories surged 66 billion cubic feet in the week ended July 17, the Energy Information Administration reported Thursday. For full story, click here
The Bombay High Court has ruled in favour of Reliance Natural Resource Limited in its 3-year-old conflict against Reliance Industries to supply 28 MMSCMD of gas to RNRL for 17 years at a price of $2.34 mmbtu as referred in the original MoU signed during the Reliance de-merger in 2005. For full story, click here
North Dakota’s Supreme Court declared an energy company did not shortchange a group of more than 300 landowners on their natural gas royalty payments. For full story, click here
At least one option player on Monday appeared to be taking a bearish stance on an exchange-traded fund tied to the price of natural gas on the view that its shares will dip significantly by October. Andrew Wilkinson, senior market analyst at Interactive Brokers Group in Connecticut, stated: It’s a big bearish play on UNG. [...]
Indian state-run explorer Oil and Natural Gas Corp plans to commence gas output in a field off India’s east coast by April next year. For full story, click here
Colorado’s leading utility, Xcel Energy Inc., says the price it charges for natural gas will fall by 31 percent next month compared to the current month. For full story, click here
State-run Bharat Petroleum on Tuesday said it has entered into an agreement with Airwings Services, part of MoneyGram International, to offer international money transfer service in select retail outlets. For full story, click here
Local energy companies are staying focused and projecting a picture of calm as they plot their 2009 business plans, in the face of declining energy prices. For full story, click here
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