Oil & gas news

Arch Coal Inc. has announced that its chairman and CEO, Steven F. Leer, will retire as CEO effective 26 April 2012, the date of the company's annual shareholders meeting.

Energy Drilling Australia (EDA), a subsidiary of mineral drilling services company, Ausdrill, looks to expand further into Australia’s coalbed methane (CBM) industry after taking delivery of a second drilling rig and ordering a third.

INA has recorded a 90% rise in profits

Seadrill has placed a US$ 1.2 billion drillship order with Samsung Heavy Industries.

For the first time since 2005, Roc Oil has recorded an annual profit.

Statoil has made a huge gas discovery in the Block 2 license offshore Tanzania in the Zafarani exploration well, logging results show that reserves may be as high as 5 trillion cubic feet.

GE Oil & Gas has received a contract of more than US$ 150 million from Apache in Australia to supply subsea equipment for the Julimar development project, located offshore near Dampier in Western Australia.

Austin Exploration Ltd has resolved to raise up to approximately $20 million to fund a new drilling campaign in the Eagleford and Niobarra shale areas. The company plans to raise the funds through a share placement and a shareholder share purchase plan.

The American Petroleum Institute has called the President’s approach to energy security a Jekyll and Hyde approach and says it hurts consumers.

EnerGulf Resources Inc. has announced the results of a report into the 2.2 million acre Block 1711, located offshore Namibia. The Prospective Oil and Contingent Gas Resources Report prepared by the firm Netherland Sewell and Associates Inc. includes an unrisked gross mean estimate of potentially 3.166 Billion barrels of oil on the block.