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Devon Energy (DVN)

Danish shipping and oil group A.P. Moller-Maersk has completed an acquisition of a 25 percent stake in the Jack oilfield in the Gulf of Mexico from Devon Energy for $300 million. Maersk's further investment in field seen rising to $1 billion.
The purchase is part of a push by Maersk's oil arm to diversify its production portfolio beyond its North Sea home base. "Most of the investment will lead up to the production start, which is planned for 2014," Maersk Oil Chief Executive Jakob Thomasen told Reuters.

Feb 10 · 3:26:00 PM · Source: Reuters
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by Michael Oliveto

Chevron (CVX)

In a court filing today in Lago Agrio, Ecuador, Chevron provided newly discovered information showing that the author of a report recommending that Chevron be ordered to pay $27 billion in damages is the majority owner of an oilfield remediation company that stands to gain financially from a judgment against Chevron.
Due to the remediation company`s relationship with Ecuador`s state-owned oil company, Petroecuador, Chevron called upon the court to immediately reject the work of Richard Cabrera on the grounds that he knowingly hid his relationship and that he stands to gain from what was supposed to be unbiased work for the court. "For three years, Mr. Cabrera has concealed clear financial conflicts of interest that disqualify him from acting as an independent and objective evaluator of the evidence in the case," Chevron Vice President and General Counsel Hewitt Pate said. "While Mr. Cabrera`s financial interests alone are sufficient grounds for his report to be rejected, his intentional concealment of those interests further demonstrates that the entirety of his work lacks honesty, integrity, or credibility."

Feb 10 · 1:58:00 PM
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by Michael Oliveto

Schlumberger (SLB)

Schlumberger announced today that its Board of Directors has appointed Paal Kibsgaard Chief Operating Officer of Schlumberger Limited effective immediately.
Reporting to Andrew Gould, Chairman and Chief Executive Officer, Kibsgaard will be responsible for the day-to-day management of all worldwide operations in addition to the Schlumberger technology organization—including engineering, manufacturing and product development.

Feb 9 · 2:20:00 PM · Source: Company Press Release
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by Michael Oliveto

ConocoPhillips (COP)

Federal regulators have denied a request by U.S. oil major ConocoPhillips to build a system of bridges to expand oil drilling on Alaska's North Slope, saying the project would harm aquatic wildlife.
The U.S. Army Corps of Engineers denied ConocoPhillips' application to build the bridges.

Feb 9 · 2:09:00 PM · Source: The Wall Street Journal
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by Michael Oliveto

Exxon Mobil (XOM)

Ghana has not blocked a planned $4 billion oilfield stake sale by Kosmos Energy to Exxon Mobil but still threatens to do so if the parties do not abandon the deal, a government source said on Tuesday.
The source said the government had written to Exxon about the deal but had not gone beyond repeating the threat.

Feb 9 · 1:57:00 PM · Source: Reuters
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by Michael Oliveto

Halliburton (HAL)

Realm Energy International Corporation and Halliburton announced they will aggressively continue the evaluation of high potential shale deposits throughout Europe and select emerging countries.
In early 2009, Realm Energy began collaborating with Halliburton Consulting on a global evaluation of shale plays with potential for natural gas and oil production.

Jan 1 · 2:33:00 PM · Source: Marketwire
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by Michael Oliveto

Devon Energy (DVN)

Shipping and oil group, AP Moller-Maersk, is purchasing Devon Energy’s stakes in three of its oilfields in the Gulf of Mexico for $1.3 billion.
The Copenhagen-based company will get a 50% stake in the Cascade field and a 25% interest in each of the Jack and St Malo fields.

Dec 31 · 3:49:00 PM · Source: emii.com
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by Michael Oliveto

ConocoPhillips (COP)

KAROON Gas Australia has confirmed it has struck hydrocarbons at the latest well in its Browse Basin drilling campaign with partner ConocoPhillips.
The news comes two weeks after a person familiar with the drilling campaign told Dow Jones Newswires that the well had penetrated hydrocarbons in similar intervals to those in the successful Poseidon-1 well about 6km away. A large gas pay at Poseidon-2 will provide further evidence that Karoon and ConocoPhillips are sitting on a resource off Western Australia big enough to support a multi-billion-dollar liquefied natural gas development.

Dec 31 · 3:37:00 PM · Source: The Australian
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by Michael Oliveto

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