NATCHEZ, Miss.–(BUSINESS WIRE)–Callon Petroleum Company (NYSE: CPE - News) today announced details regarding its strategy shift to diversify its asset base to onshore in order to increase visible growth potential, including a 2010 capital budget of $61.7 million and its first acquisition in the North Louisiana Haynesville Shale play.
“We’ve been working on this strategy shift [...]

Nov. 7–Big companies used to talk about their potential expansion plans with large metro areas in Oklahoma
Now smaller communities are the focus of their attention.
“Wind development is bringing new money and new energy into Western Oklahoma like I’ve never seen,” said LaVern Phillips, president of Woodward Industrial Foundation. “We’re riding a tide of new opportunities.”
“The [...]

PITTSBURGH, Oct. 22 /PRNewswire-FirstCall/ — CONSOL Energy Inc. (NYSE: CNX - News), a producer of high-Btu thermal coal, metallurgical coal, and natural gas, reported net income attributable to CONSOL Energy shareholders for the quarter ended September 30, 2009 of $87.4 million, or $0.48 per dilutive share. This is nearly equal to the net income attributable [...]

Several nuclear outages and the anticipation of lower storage injection is helping to support physical natural gas prices. However, this is the time for a seasonal rally in natural gas prices so any sort of news tends to be viewed more bullish than bearish.
Price support for physical prices, particularly in the western half of the [...]

SAN RAMON, Calif.–(BUSINESS WIRE)–Chevron Corporation (NYSE: CVX - News), through its subsidiaries Chevron Australia Pty Ltd and Chevron (TAPL) Pty Ltd, announced that it signed an agreement with Apache Julimar Pty Ltd, a subsidiary of the Apache Corporation (NYSE: APA - News), and KUFPEC Australia (Julimar) Pty Ltd, a subsidiary of the Kuwait Foreign Petroleum [...]

Third Quarter Coking Coal Sales of 1.9 Million Tons up 35.2 Percent Versus Prior Year; Year-to-Date Sales Volumes Ahead of Same Period Last Year
Company Resumes Delivery on Carryover Coal Contracts at $315 per Ton
Company Expects Premium Hard Coking Coal Production and Sales of Approximately 8 Million Tons in 2010 and Up to 9.5 Million Tons [...]

HOUSTON Duncan Energy Partners L.P. (NYSE:DEP - News) today announced that the board of directors of its general partner declared an increase in its quarterly cash distribution rate paid to partners to $0.44 per common unit, or $1.76 per unit on an annualized basis. The cash distribution will be paid Thursday, November 5, 2009, to [...]

Oil prices were essentially flat to end the week after Federal Reserve Chairman Ben Bernanke said this week that interest rates will have to be raised when the economy recovers in order to avoid inflation.
It has been the weak dollar that has attracted billions in investments in energy markets this year because oil is priced [...]

ANCHORAGE, Alaska–(BUSINESS WIRE)–ExxonMobil Production Company announced today that it has completed drilling and casing the surface section on the second well at Point Thomson. The well reached its target surface-section depth of 4,875 feet. Both wells are planned to be completed to their final depths by year end 2010. Additionally, construction work is progressing on [...]

(RTTNews) - Wednesday, Denver, Colorado-based Credo Petroleum Corp. (CRED: News ), posted a lower third-quarter profit as revenues fell impacted by substantially lower price realizations for both oil and natural gas.
Third-quarter net income fell down to $0.35 million or $0.03 per share from $3.34 million or $0.34 per share for the prior-year quarter.
Revenues [...]