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Oil & Gas Exploration and Production

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Northern Blizzard Resources appoints new chairman and COO

10:51am EDT

June 23 (Reuters) - Northern Blizzard Resources Inc :Northern blizzard resources inc. Announces voting results of annual and special meeting, appoints new chairman and chief operating officer.Northern blizzard resources inc - adam waterous appointed as company's chairman of board.Northern blizzard resources inc says robert will was promoted to chief operating officer.Northern blizzard resources inc - waterous is managing partner and chief executive officer of waterous energy fund.Northern blizzard resources inc - through its affiliates, waterous energy fund owns approximately 67% of northern blizzard's outstanding common shares.

Ptt Exploration And Production plans to implement a liability management exercise for group companies

10:38am EDT

June 23 (Reuters) - Ptt Exploration And Production Pcl :pttep plans to implement a liability management exercise for group companies regarding us$ denominated debts.pttep plans to mak offer to repurchase the us$1 billion subordinated perpetual capital securities.

EXCO Resources units are parties to purchase, sale agreement with Vog Palo Verde

6:21am EDT

June 23 (Reuters) - EXCO Resources Inc ::EXCO Resources Inc- co's units are parties to a purchase and sale agreement with Vog Palo Verde LP, dated as of April 7, 2017.EXCO Resources Inc -on May 31, Chesapeake Energy Marketing terminated long term transaction confirmation with expiration of June 30, 2032, between Chesapeake and Raider Marketing.EXCO Resources Inc - as a result of alleged termination of contract, EOC was forced to shut-in certain wells beginning on June 1, 2017.EXCO Resources Inc -due to contract termination, closing conditions were not anticipated to be satisfied or waived by original scheduled closing date.EXCO Resources Inc says parties entered into first amendment, dated as of May 31, 2017, to extend original scheduled closing date for two weeks.EXCO Resources Inc - on June 6, EXCO parties & raider filed a petition, application for temporary restraining order & injunction against Chesapeake in Dallas County, Texas.EXCO Resources Inc - on June 9, 2017, district court denied EXCO parties and raider's motion for temporary restraining order - SEC filing.EXCO Resources Inc says on June 7, 2017, Chesapeake Energy Marketing filed to remove lawsuit to United States District Court Northern District Of Texas.EXCO Resources Inc - lawsuit remains pending in federal court.

EXCO Resources units are parties to purchase, sale agreement with Vog Palo Verde

6:21am EDT

June 23 (Reuters) - EXCO Resources Inc ::EXCO Resources Inc- co's units are parties to a purchase and sale agreement with Vog Palo Verde LP, dated as of April 7, 2017.EXCO Resources Inc -on May 31, Chesapeake Energy Marketing terminated long term transaction confirmation with expiration of June 30, 2032, between Chesapeake and Raider Marketing.EXCO Resources Inc - as a result of alleged termination of contract, EOC was forced to shut-in certain wells beginning on June 1, 2017.EXCO Resources Inc -due to contract termination, closing conditions were not anticipated to be satisfied or waived by original scheduled closing date.EXCO Resources Inc says parties entered into first amendment, dated as of May 31, 2017, to extend original scheduled closing date for two weeks.EXCO Resources Inc - on June 6, EXCO parties & raider filed a petition, application for temporary restraining order & injunction against Chesapeake in Dallas County, Texas.EXCO Resources Inc - on June 9, 2017, district court denied EXCO parties and raider's motion for temporary restraining order - SEC filing.EXCO Resources Inc says on June 7, 2017, Chesapeake Energy Marketing filed to remove lawsuit to United States District Court Northern District Of Texas.EXCO Resources Inc - lawsuit remains pending in federal court.

Hurricane top investor Crystal Amber comments on firm's assets

2:00am EDT

June 23 (Reuters) - Crystal Amber Fund Ltd ::‍Crystal Amber notes recent decline in its share price​.‍Believe it primarily reflects decline in share price of its largest investment, Hurricane Energy Plc​.‍Fund currently holds 150,000,000 shares in hurricane at an average cost of 23p a share​.‍In addition, fund holds warrants over 23.3 million shares exercisable at 20p a share​.As Hurricane's largest independent shareholder owning 12.2 pct of issued share capital, Crystal Amber is supportive of monetising Hurricane's assets​.‍Believes in strategic value of Hurricane's asset base​.

Callon Petroleum appoints Correne Loeffler interim CFO

Thursday, 22 Jun 2017 04:15pm EDT

June 22 (Reuters) - Callon Petroleum Co -:Callon Petroleum Company announces interim chief financial officer.Says Correne S. Loeffler appointed interim cfo.Callon Petroleum Co - Loeffler assumes this role from Joe Gatto.

Jones Energy Inc exits Arkoma Basin with non-core asset sales

Thursday, 22 Jun 2017 04:05pm EDT

June 22 (Reuters) - Jones Energy Inc :Jones energy, Inc. exits Arkoma Basin with non-core asset sales.Jones Energy Inc says entered agreements to sell several non-core assets, for a combined total of up to $70 million.Jones Energy - Arkoma agreement represents sale price of $65 million cash, plus up to a $2.5 million contingent payment based on improving natural gas prices.Jones Energy Inc says company expects to use net proceeds to repay outstanding borrowings under its revolving credit facility.Jones Energy Inc - "Arkoma represents just 6% of our projected 2017 revenues and we view deal as an accretive transaction to company".Jones Energy Inc says "company continues to actively market additional non-core assets".

Pedevco terminates pending merger with GOM Holdings, enters into LoI with investor group

Thursday, 22 Jun 2017 02:58pm EDT

June 22 (Reuters) - Pedevco Corp :Pedevco Corp - recently entered into a new non-binding letter of intent with a Hong Kong-based investor group.Pedevco Corp - the investor group has expressed an interest in funding development of co’s oil and gas assets and restructuring the co’s debt.Pedevco Corp says on June 22, Co terminated its pending merger with GOM Holdings LLC - SEC filing.Pedevco Corp - has no further obligations or termination liabilities due or owing to GOM under GOM merger agreement as a result of termination.Pedevco Corp - transactions contemplated in letter of intent, if consummated, may result in significant dilution to existing shareholders.Pedevco Corp - Co and the investor group signed a non-binding term sheet which includes a binding 90-day no-shop period expiring in late August 2017.Pedevco Corp - Terminated its pending merger with GOM holdings as Pedevco sees a more certain and favorable transaction with new investor group.

India's Ministry Of Petroleum & Natural Gas says May crude oil production up 0.73 pct

Thursday, 22 Jun 2017 07:43am EDT

June 22 (Reuters) - Ministry of Petroleum & Natural Gas::Crude oil production during May, 2017 was 3099.48 TMT, 0.35 pct lower than target, 0.73 pct higher versus May 2016.Crude oil production by ONGC during May was 1934.59 TMT, 0.98 pct higher than monthly target; 2.52 pct higher versus May, 2016.Natural gas production during May, 2017 was 2768.89 MMSCM, 5.19 pct lower than target, 4.16 percent higher versus May 2016.Natural gas production by ONGC during May, 2017 was 1963.62 MMSCM, 1.69 pct lower than target; 9.52 pct higher versus May, 2016.

Oil Search announces establishment of US$600m revolving credit facility

Thursday, 22 Jun 2017 03:21am EDT

June 22 (Reuters) - Oil Search Ltd ::Oil Search establishes US$600m revolving credit facility.Signed documentation with a 14 member bank group for a new five year, non-amortising, revolving credit facility of US$600 million.New corporate facility replaces a us$500 million non-amortising revolving credit facility that was due to expire in October 2017."‍New facility will provide us with funding flexibility for next phase of LNG development and expansion in Papua New Guinea​".Increases size of facility from its original target of US$500 million, to US$600 million.

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