Offshore – Page 82 – Oil & Gas 360

Balance Sheet Bingo: Harvest Announces Common Stock Exchange Agreements and Possible Notes Offering

August 23, 2012

Harvest Natural Resources, Inc. (HNR) recently announced two agreements to exchange common stock for outstanding senior notes and announced it is considering offering $75 million in new senior notes. Under the terms of the exchange agreement, $4,651,000 of the principal amount of senior notes bearing an interest rate of 8.25% will be exchanged for 829,951 shares of Harvest’s common stock.

ERHC Building Capital Foundation for Future Exploration Potential

August 23, 2012

In an effort to increase capital availability and financial flexibility, ERHC Energy (OTCBB: ERHE) announced its Board of Directors approved resolutions amending the company’s Restated Articles of Incorporation to increase the number of authorized shares and to create or issue one or more classes of preferred stock from shares of currently authorized preferred stock. This is a signal the company

Callon Petroleum Poking Holes in West Texas

June 29, 2012

Callon Petroleum (ticker: CPE) continues to make headway on its drilling initiatives in the Permian Basin while acquiring additional running room and properties in the play. CPE operates all of its Permian acreage and has positions in both the Delaware Basin portion on the western side of the Permian and in the Midland Basin east of the Central Basin Platform.

HNR Harvests Venezuela for $725 Million

June 21, 2012

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 Reports Q1'12 Results; Permian Catalysts Stacking Up Through 2012

May 9, 2012

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 Reports Fiscal Q3'12 Results; Reinstates Dividend Program

May 7, 2012

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 Drilling for Natural Gas Elephants: Shimshon Well Offshore Israel Could Hold 2.3 Tcf

May 1, 2012

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

VIDEO: Energy XXI Chairman and CEO John Schiller on Mad Money with Jim Cramer

April 11, 2012

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

Loaded with Catalysts in 2012: ATP Oil & Gas Drilling the Deepwater Gulf of Mexico and Offshore Israel

March 7, 2012

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

Acquire and Exploit Isn't All They Can Do: Energy XXI Updates Gulf of Mexico Shelf Operations; Organic Drilling Efforts Help EXXI Hit Production Goals

February 27, 2012

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 Reports Oman Operations Right on Schedule

November 2, 2011

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

Deeper Well Test in Gabon Yield Positive Results for Harvest

July 22, 2011

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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