The Oil Daily articles from April 2008

The Oil Daily archives from April 2008

API: refiners not to blame for high prices.(American Petroleum Institute)
April 1, 2008... The American Petroleum Institute (API) on Monday said rising gasoline prices at the retail level are being driven by the high cost of crude oil, not speculation in the futures market or refinery maintenance work. Record-high crude prices...

Sovereign funds need to reassure hosts.
April 1, 2008... Sovereign funds--many controlled by oil-rich states like Norway or Mideast Gulf countries--have been making headlines in recent months by pumping tens of billions of dollars into stricken Western banks. And as concerns grow about the...

US January oil demand revised lower as economy starts to sputter.
April 1, 2008... High prices and economic strains are taking their toll on oil demand in the US, the world's biggest oil importer and consumer of petroleum products. The latest data from the US Energy Information Administration (EIA) shows that demand in...

Crude futures slip on profit-taking, restored Iraq pipeline flows.(Brief article)
April 1, 2008... Crude futures on the New York Mercantile Exchange (Nymex) tumbled by more than $4 on Monday, the result of end-of-quarter profit-taking and Iraqi officials restoring pipeline flows that were disrupted late last week (OD Mar.28,p3). The...

Daily oil & gas price review.(Statistical table)
April 1, 2008... Daily Oil & Gas Price Review Prices for Monday, March 31, 2008 US Domestic Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) -3.05 97.66 99.87 97.93 LLS (St. James)...

Nigeria intrigued by Exxon process to convert Natgas to gasoline.
April 1, 2008... Nigeria's president is interested in a proposal he said Exxon Mobil made regarding development of a natural gas to gasoline plant in the West African nation, according to a statement issued by President Umaru Musa Yar'Adua's office last week....

Heating degree days.(Statistical table)
April 1, 2008... Heating Degree Days For the week of Mar. 29, 2008 Week Dev Cum Dev From From From Week From Year Cum From...

Petronas eyes Myanmar boost.(Petroliam Nasional Bhd.)(Brief article)
April 1, 2008... China National Petroleum Corp. (CNPC) and Malaysian state oil company Petronas are in talks about cooperation in the Chinese company's gas blocks in Myanmar, according to news agency reports Monday. A spokesman confirmed that officials...

Mexico Energy Ministry says Pemex should work with foreign firms.(Petroleos Mexicanos)
April 1, 2008... Mexico's Energy Minister Georgina Kessel and Pemex Director Jesus Reyes Heroles presented a report on Sunday that stresses the need for Pemex to work with other companies to develop Mexico's deepwater reserves. However, they stopped short of...

Gazprom plans massive jump in spending on core gas business.(OAO Gazprom)
April 1, 2008... Russian state natural gas champion Gazprom is reportedly planning a massive hike in capital spending over the next two years as it shifts strategy to focus on growth in its key gas business at the expense of the equity megapurchases of the...

Japan's crude imports rise.(Brief article)
April 1, 2008... Japan's crude oil imports rose 8.2% to 4.39 million b/d in February compared with a year ago, according to the latest government statistics. Imports from top supplier Saudi Arabia increased 4.2% to 1.24 million b/d and from the UAE by 3.9%...

Conoco explores biofuels.(Alternatives)(ConocoPhillips)(Brief article)
April 1, 2008... ConocoPhillips on Monday announced a research partnership to develop new methods for producing transportation fuels from nonfood plant materials. ConocoPhillips is teaming up with the US Department of Energy's National Renewable Energy...

Rowan to sell or spin-off unit.(Corporate News)(Rowan Companies Inc.)(Brief article)
April 1, 2008... Offshore drilling contractor Rowan said Monday it would pursue a sale or a spin-off of manufacturing unit LeTourneau Technologies. The company also said it has entered into a pact with Steel Partners II L.P., which owns a 9.1% stake in...

Imperial loses oil sands permit.(Environment)(Imperial Oil Company Inc.)(Brief article)
April 1, 2008... Imperial Oil said on Monday it will seek to overturn a Canadian federal government decision to revoke a key permit for its C$8 billion ($7.85 billion) Kearl oil sands project. The department of Fisheries and Oceans withdrew the permit on...

Exxon Thailand unit plans IPO.(International)(initial public offerings)(Esso Standard Thailand Company Ltd.)(Brief article)
April 1, 2008... Esso (Thailand), a Thai unit of Exxon Mobil, plans to raise up to 14.3 billion baht ($454 million) in an initial public offering in April, the company said Monday. Esso (Thailand), 87.5% owned by Exxon-Mobil, plans to sell 773 million new...

Stock market scorecard.(International)(Statistical table)
April 1, 2008... Stock Market Scorecard Integrated Close 1-Day % Chg. Majors 3/31 Chg. % Chg. 10-Day 52-Wk YTD Shell-B 67.38 +1.42 +2.15% -1.19% +0.87% -18.82% Shell-A ...

Crisis over Japan gasoline tax.(International)(Brief article)
April 1, 2008... The political future of Japanese Prime Minister Yasuo Fukuda was looking bleak Monday as he struggled to renew a gasoline tax in the face of fierce resistance from the opposition and as his popularity slid in the polls. Japan has imposed...

UAE's Dana Gas eyes Eqypt.(International)(Dana Gas Co.)(Brief article)
April 1, 2008... Abu Dhabi-listed Dana Gas will drill 19 wells in Egypt in 2008 as part of a $170 million upstream program in the country. Dana said Sunday it will drill a total of 15 exploration prospects and four development wells in the Nile Delta and in...

TNK-BP to expand drilling arm.(International)(Brief article)
April 1, 2008... Far from cashing out of its Russian oil-field services business, Oil Daily understands that TNK-BP has launched plans to expand its drilling unit, which it runs as a separate business. This about-face from the Russian-UK joint venture is...

Pengassan calls off strike.(International)(Exxon Mobil Corp.)(Brief article)
April 1, 2008... Nigeria's Pengassan oil union has reportedly called off a proposed nationwide strike, following an agreement last Friday with government officials and representatives from Exxon Mobil's Nigerian affiliate (OD Mar.25,p5). Pengassan had...

US seeks Swiss-Iran document.(International)(Elektrizitats-Gesellschaft Laufenburg signed an agreement with National Iranian Gas Export Co.)(Brief article)
April 1, 2008... The US embassy in Switzerland said that the US government "has made an official request to the Swiss government for a copy of the contract" signed on Mar. 17 by Switzerland's EGL and National Iranian Gas Export Co. The embassy noted that...

Chalmette oil sent to China.(Latin America)(Brief article)
April 1, 2008... Venezuela is sending to China all of the oil it previously shipped to a US refinery it jointly owns with Exxon Mobil as a legal battle continues between the Opec nation and the US oil giant, Energy Minister Rafael Ramirez said on Friday. ...

BP loses LNG terminal ruling.(Natural Gas)(British Petroleum Company PLC)(Brief article)
April 1, 2008... British supermajor BP said it still hopes to move forward with plans for a New Jersey-based liquefied natural gas (LNG) despite a Supreme Court ruling Monday to uphold a decision by Delaware to reject the project because its unloading pier...

Subsea 7 to build Brazil pipe.(Offshore)(Brief article)
April 1, 2008... Norwegian offshore services group Subsea 7 said Monday it has won a $200 million pipeline contract from Brazil's Petrobras. The contract will involve the design, engineering, procurement, fabrication and installation of the 78 kilometer Sul...

Noble extends Brazil deals.(Offshore)(Petroleo Brasileiro S.A.)(Brief article)
April 1, 2008... Offshore drilling contractor Noble Corp. said on Monday it signed a memorandum of understanding for contracts worth up to $4 billion with Brazil's Petrobras. Under the planned contracts, which have a combined total length of 29 years, five...

Democrats take aim at Big Oil's profits.
April 2, 2008... US presidential candidate Barack Obama is vowing to take on Big Oil in a new TV ad now playing in the primary battleground state of Pennsylvania. The 30-second-spot opens with a shot of a long line of cars at an Exxon retail station during...

Forest Oil joins great American Shale rush.(Company overview)
April 2, 2008... Forest Oil advanced its profile in several emerging North American resource plays on Tuesday, as it picked up prospective acreage in Louisiana's Haynesville Shale play and unveiled "encouraging" initial results from what could turn into yet...

Eni resumes Ecuador output.(Brief article)
April 2, 2008... Eni resumed oil production Monday at the Villano field in Ecuador after an act of sabotage temporarily suspended operations on Mar.28. A main power line connecting field installations has been repaired after being burned by an unknown...

Nymex crude falls slightly as dollar regains some strength.(Brief article)
April 2, 2008... New York Mercantile Exchange (Nymex) crude futures chopped around on Tuesday, trading in a relatively tight range of $3. The market ended mostly unchanged on the day as no significant news surfaced to move it in either direction. Traders are...

Daily oil & gas price review.(Statistical table)
April 2, 2008... Daily Oil & Gas Price Review Prices for Tuesday, April 1, 2008 Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) -0.91 96.75 99.89 98.61 LLS (St. James) -0.81 103.45 106.58 ...

Weak outlook for US refining hits oil company shares in March.
April 2, 2008... For several years, the oil sector has been a safe bet for investors looking to escape turbulence in the broader market. In 2007, most integrated oil company stocks gained 20% or more, lifted by rising oil prices. But so far in 2008, oil...

Russia's Gazprom plans to become top player in global LNG market.(Liquefied natural gas )
April 2, 2008... Although it does not currently produce any liquefied natural gas of its own, Russian gas giant Gazprom intends to become a star player on the global LNG stage by 2030, supplying one-quarter of the world's LNG needs by moving away from its...

Contraction of oil demand triggers downstream upheaval in Japan.
April 2, 2008... Soaring oil prices, falling domestic demand and overcapacity are forcing Japan's conservative refinery managers to consider the biggest restructuring of the country's downstream industry since the start of the decade. With oil demand hit...

Shell denied access to fight pipeline blaze in Nigeria delta.(Royal Dutch-Shell PLC)
April 2, 2008... Royal Dutch Shell said Tuesday it is trying to gain access to tackle a blaze along part of its Trans-Niger pipeline, a major oil export link that feeds crude oil into the Bonny export terminal in Nigeria's southern delta region. The fire...

ATP to pay employee home loans.(Corporate News)(ATP Oil and Gas Corp.)(Brief article)
April 2, 2008... ATP Oil & Gas on Monday pledged to pay the home mortgage costs of its 66 employees for a year if the company can reduce debt, begin production at its Telemark Hub and initiate development of a North Sea project before July 1 2009. The...

TransCanada buys NY plant.(Electricity)(New York, United States)(National Grid Company PLC)(Brief article)
April 2, 2008... TransCanada has agreed to buy a large New York power plant from British utility National Grid for around $2.9 billion. National Grid is divesting the 2,480 MW gas-fired Ravenswood plant to satisfy regulators after its takeover of New York...

GE invests in Texas fields.(Exploration & Production)(GE Energy Financial Services)(Union Gas Corp.)(Brief article)
April 2, 2008... General Electric's energy financial services unit said on Tuesday it has formed a partnership with a unit of Union Gas Corp. to acquire oil and gas reserves from two fields in East Texas and the Texas Gulf Coast for $115 million. GE Energy...

Alaska March output picks up.(Exploration & Production)(Brief article)
April 2, 2008... Alaskan crude oil production rallied in March as a result of somewhat more limited maintenance work and colder-than-normal weather, according to data from the state's Department of Revenue Tax Division. The monthly average for the Alaskan...

Pioneer SW tweaks IPO plans.(Finance)(Pioneer Southwest Energy Partners)(initial public offering)(Brief article)
April 2, 2008... Pioneer Southwest Energy Partners has raised the number of shares in its planned initial public offering to 8.25 million common units from 7.5 million common units. The oil and gas properties acquirer said in a filing with the US...

Cadent closes Energy fund.(Finance)(Cadent Energy Partners)(Brief article)
April 2, 2008... Cadent Energy Partners said Tuesday it closed its second private equity fund Cadent Energy Partners II on Feb. 1 with $473.3 million in commitments from its partners. Cadent said the fund exceeded its initial $375 million target due to...

Stock market scorecard.(Finance)(Statistical table)
April 2, 2008... Stock Market Scorecard Integrated Close 1-Day % Chg. Majors 4/1 Chg. % Chg. 10-Day 52-Wk YTD Hess 92.49 +4.31 +4.89% -3.32% +62.52% -8.30% Repsol YPF ...

Chevron chases Tatar deal.(International)(Cadent Energy Partners)(Brief article)
April 2, 2008... Chevron officials this week visited the Russian region of Tatarstan for the second time this year as the US major chases opportunities in heavy oil extraction, according to a press release from Tatar oil company Tatneft. Ian MacDonald,...

US-Russian JV sets export date.(International)(joint venture)(Naryanmarneftegas)(OAO Lukoil)(ConocoPhillips)(Brief article)
April 2, 2008... Commercial production will start in June from the 500 million bbl South Khylchuyu oil field in northern Russia which is operated by Naryanmarneftegas, a joint venture between Lukoil and US ConocoPhillips, a Lukoil spokesman said. Around the...

Seadrill adds rigs to fleet.(Offshore)(Brief article)
April 2, 2008... Norwegian drilling contractor Seadrill has taken delivery of two deepwater drilling rigs, one of which will be sent to the Gulf of Mexico on a four-year contract with Devon Energy. Seadrill Chief Executive Kjell Jacobson said the company...

Petrobras buys Japan refinery.(Refining)(Petroleo Brasileiro S.A.)(TonenGeneral Sekiyu)(Brief article)
April 2, 2008... Exxon Mobil's Japanese refining unit Tonen-General Sekiyu said Tuesday it has completed the sale of its majority stake in an Okinawa-based refinery to Brazil's Petrobras. Petrobras has taken control of Nansei Sekiyu, buying the 87.5% stake...

Shell joins Rosneft in China.(Refining)(China National Petroleum Corp.)(Shell Global Solutions)(Brief article)
April 2, 2008... Shell Global Solutions has won a tender to carry out a feasibility study for a refinery complex that Russia's Rosneft and China National Petroleum Corp. (CNPC) plan to build in the northern Chinese port city of Tianjin, a Rosneft spokesman...

Demand struggles while supply races ahead.
April 3, 2008... World oil demand is still growing despite crude oil prices averaging near $100 per barrel, but there is little doubt that the record price level and the economic slowdown in the US are stunting growth. Growth is occurring in non-OECD...

Shell calls for government intervention.(Royal Dutch-Shell PLC)
April 3, 2008... It's not often you hear a major multinational oil company calling for more government intervention rather than less, but given the complexity and importance of coming energy market challenges, that's exactly what Royal Dutch Shell Chief...

Document outlines investments in Chevron-PDV heavy oil project.(Petroleos de Venezuela S.A.)
April 3, 2008... Venezuela's state oil company Petroleos de Venezuela (PDV) and partner Chevron plan to invest $7.7 billion in the Petropiar extra heavy crude upgrader project by 2032, according to Dow Jones Newswires. The project is still the subject of...

Crude futures soar, following sizzling gasoline market's lead.
April 3, 2008... Fresh petroleum data from the US government was definitely a mixed bag on Wednesday. Because of the conflicting signals, crude futures hardly moved during early trading. But prices took off later in the day as the gasoline market finally...

Daily oil & gas price review.(Statistical table)
April 3, 2008... Daily Oil & Gas Price Review Prices for Wednesday, April 2, 2008 US Domestic Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) +4.04 100.79 99.80 96.00 LLS (St. James)...

EIA weekly statistics.(Statistical table)
April 3, 2008... US Crude Oil: Stocks (1) (millions of bbl) Current Previous Week Week Chg. PADD 1 15.5 14.2 9.2% PADD 2 65.4 65.5 -0.2% Cushing, OK 17.5 17.2...

Economic storm batters AIM-listed oil and gas stocks.(Alternative Investment Market)
April 3, 2008... Oil and gas companies listed on London's Alternative Investment Market (AIM) had a difficult start to 2008. As global financial turmoil diminished investors' appetite for risk, the value of AIM-listed oil and gas stocks dropped 7% in the first...

Colombia hopes to raise production to one million boe/d in 2020.
April 3, 2008... Colombia aims to raise its oil and gas production to 1 million barrels of oil equivalent per day by 2020, according to Armando Zamora, head of the National Hydrocarbons Agency, Colombia's oil and gas regulator. If it achieves this goal, it...

Interior Secretary scolded for delay in polar bear decision.
April 3, 2008... Sen. Barbara Boxer slammed Interior Secretary Dirk Kempthorne for refusing to appear at a Senate oversight hearing Wednesday to examine the Bush administration's delay in deciding whether to list the polar bear as a threatened species. The...

Newfield makes headway in China by utilizing local expertise.(Newfield Exploration Co.)
April 3, 2008... In an environment where high costs and project delays are becoming the norm, US upstream independent Newfield Exploration says it is making progress in China by cooperating with local firms and using more locally sourced goods and services. ...

Russia legislation set to tighten reins on foreign investment.
April 3, 2008... Draft legislation defining the rules for foreign investment in strategic sectors of the Russian economy, including oil and gas, was approved Wednesday in a third and final reading by the State Duma, or lower house of parliament. The...

Spectra plans pipe expansion.(Spectra Energy )(Brief article)
April 3, 2008... Spectra Energy said Tuesday it plans to expand its Texas Eastern pipeline system to move emerging Rockies natural gas supplies to markets in the Northeast. The expansion will move natural gas supplies from the from the growing Clarington,...

EU releases emissions data.(Environment)(European Union)(Brief article)
April 3, 2008... The European Commission Wednesday published preliminary--and incomplete--data for the volume of emissions emitted in 2007 by the majority of installations covered under the European Union's Emission Trading Scheme (ETS). Preliminary data...

Russian output drops again.(International)(Brief article)
April 3, 2008... Russian crude oil and condensate production fell in March by nearly 1.3% from year-ago levels to 9.76 million b/d, according to preliminary data from the Industry and Energy Ministry. The average was 30,300 b/d, or 0.3%, lower than in February....

Shell Gabon workers end strike.(International)(Brief article)
April 3, 2008... Oil workers from Royal Dutch Shell's affiliate in Gabon have ended a strike at the Gamba oil terminal which halted 60,000 b/d of Shell output and more than 25,000 b/d produced by other companies that share the facility. The strike, which...

Chevron May face Ecuador fine.(Latin America)(Brief article)
April 3, 2008... An independent environmental expert told a court in Ecuador that US oil company Chevron should pay $7 billion to $16 billion in compensation for environmental damage in the country. In a report to the court, geologist Richard Cabrera said...

Stock market scorecard.(Latin America)(Statistical table)
April 3, 2008... Stock Market Scorecard Integrated Close 1-Day % Chg. Majors 2/2 Chg. % Chg. 10-Day 52-Wk YTD Repsol YPF 37.07 +1.63 +4.60% +4.87% +10.52% +4.04% Petro-Canada ...

Brazil produces extra heavy oil.(Latin America)(Petroleo Brasileiro S.A.)(Brief article)
April 3, 2008... Brazil's Petrobras has started up a small, 15,000 b/d tanker-based production unit, the first to pump extra heavy oil off Brazil's coast. The floating production, storage and offloading (FPSO) unit, called Cidade de Rio das Ostras, will...

White Rose production halted.(Offshore)(Husky Energy Inc.)(Brief article)
April 3, 2008... Husky Energy said on Wednesday that ice conditions have forced it to suspend oil production at its 140,000 b/d White Rose oil field off Newfoundland. Husky spokesman Graham White said the company halted production at the field on Tuesday...

Pride extends total contract.(Offshore)(Pride International Inc.)(Brief article)
April 3, 2008... Pride International has finalized a five-year, $826 million contract with Total for it deepwater drillship Pride Angola. A spokesman for the drilling company said the contract calls for drilling operations off the coast of Angola. The...

Superior Offshore issues warning.(Offshore)(Superior Offshore International L.L.C.)(Brief article)
April 3, 2008... Houston-based energy services firm Superior Offshore International said it is facing a serious financial situation. The company said it is struggling to raise cash to pay its bills, will be late in filing its annual report and is considering...

ETP to expand pipe capacity.(Pipelines)(Energy Transfer Partners )(Brief article)
April 3, 2008... Energy Transfer Partners (ETP) has approved construction of a $485 million, 42-inch natural gas pipeline to serve the Bossier and Barnett Shale natural gas plays of East and North Central Texas. The 160-mile, Texas Independence Pipeline...

Venezuela set to adopt windfall oil tax.
April 4, 2008... Venezuelan lawmakers have approved the first reading of a bill that would introduce a new windfall profit tax on oil companies that will take as much as 60% of the gains they derive from high world oil prices. The new tax is part of...

Arkansas raises gas severance tax to cash in on shale boom.
April 4, 2008... Arkansas Gov. Mike Beebe signed off on the state's first natural gas severance tax increase in over 50 years Wednesday, a move largely influenced by thriving production in the Fayetteville Shale formation in the northern part of the state. ...

Crude futures take breather, end see-saw session slightly lower.(Brief article)
April 4, 2008... After undergoing a modest downward correction in early trading, crude futures on the New York Mercantile Exchange (Nymex) recovered to trade as high as $106.44 per barrel. But the market could not hold on to that level and eventually retreated...

Daily oil & gas price review.(Statistical table)
April 4, 2008... Daily Oil & Gas Price Review Prices for Thursday, April 3, 2008 US Domestic Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) -0.89 99.90 99.16 100.30 LLS (St. James)...

BP chalks up another deepwater discovery in US Gulf of Mexico.
April 4, 2008... London-based supermajor BP has chalked up what appears to be another respectable oil discovery in the deepwater Gulf of Mexico. BP said the discovery at its Kodiak prospect on Mississippi Canyon Block 771 encountered about 500 net feet of...

Statistics show US becoming more dependent on Opec oil supplies.
April 4, 2008... In 2007 the US did not make much progress in kicking its addiction to oil as crude imports remained basically unchanged at just over 10 million barrels per day from 2006. And for all its complaints that Opec was holding back supplies to...

BP restarts final Whiting unit.(Brief article)
April 4, 2008... BP has restarted the last of three crude units at its 410,000 b/d Whiting, Indiana, refinery, a source familiar with refinery operations said on Thursday. The crude unit, which has a capacity of 95,000 b/d, was restarted a few weeks ago,...

XTO buying spree continues with $520 million Fayetteville deal.(XTO Energy Inc.)(Southwestern Energy Co.)
April 4, 2008... XTO Energy just never appears content with the exploration acreage in its already considerable portfolio. On Thursday it announced another big acquisition in a growing natural gas shale play, saying it will pay Southwestern Energy $520...

Senate Delves again into role of speculators in high oil prices.
April 4, 2008... There is "little evidence" that speculative investment in crude futures can be blamed for the run up in oil prices to more than $100, the chief economist with the Commodity Futures Trading Commission (CFTC) told a Senate hearing Thursday. ...

TNK-BP optimistic about future in Russia despite recent raid.
April 4, 2008... TNK-BP remains optimistic about the future despite a recent raid on its offices by Russia's Federal Security Service (FSB) as part of a spy case involving a company employee. "The outlook looks bright," TNK-BP Chief Executive Robert Dudley...

Anadarko plans three deepwater wells offshore China, Indonesia.(Anadarko Petroleum Corp.)
April 4, 2008... US independent Anadarko will drill three deepwater exploration wells this year, two in Indonesia and one in a rapidly emerging area offshore China, a company executive said Thursday. The firm, which ventured into China in 2006 through its...

Conoco issues output warning.(Corporate News)(ConocoPhillips)(Brief article)
April 4, 2008... ConocoPhillips said on Thursday its first quarter oil and natural gas production would be down more than 2% from fourth quarter levels, hurt by an unplanned shutdown of a natural gas processing plant. The third-largest US oil company...

EIA gas storage report.(Corporate News)(Statistical data)
April 4, 2008... Gas in Storage Falls by 29 Bcf Stocks of working natural gas in US storage facilities fell by 29 Bcf in the week ending Mar. 28, leaving storage levels at 1,248 Bcf, according to the Energy Information Administration. Gas in storage is 304...

EPA feels emissions pressure.(Environment)(Environmental Protection Agency)(Brief article)
April 4, 2008... The House Global Warming Committee Wednesday agreed to subpoena documents from the federal Environmental Protection Agency (EPA) regarding its efforts to reduce global warming emissions from motor vehicles. The 12-0 vote came on the...

Stock market scorecard.(Environment)(Statistical table)
April 4, 2008... Stock Market Scorecard Integrated Close 1-Day % Chg. Majors 4/3 Chg. % Chg. 10-Day 52-Wk YTD Shell B 69.75 +1.12 +1.63% +7.81% +4.10% -15.96% Shell-A ...

Energy XXI joins Blackbeard crew.(Exploration & Production)(Brief article)
April 4, 2008... Energy XXI said Thursday it has entered into a $5 million agreement with McMoRan Exploration to participate in the re-entry of the South Timbalier Block 16B well known as Blackbeard West No. 1 in the shallow waters of the Gulf of Mexico shelf....