Constellation Energy Partners to Sell Alabama Assets

Constellation Energy Partners LLC (NYSE MKT: CEP) today announced that it has executed a definitive agreement to sell its Robinson’s Bend Field assets and operations, which are located in the Black Warrior Basin in Tuscaloosa County, Alabama, to a subsidiary of Castleton Commodities International LLC (“CCI”).

The sale encompasses over 500 operating natural gas wells in the Robinson’s Bend Field together with related leasehold interests and infrastructure.

The transaction is expected to close in the first quarter 2013 and will have an effective date of December 1, 2012. The company anticipates that net proceeds received in the transaction will be used to reduce outstanding debt.

Published: 04 February 2013
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TAG Oil and Apache Corporation Conclude East Coast Basin Farmout Agreement

TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF) announced today that the Company's 100% owned New Zealand subsidiaries have concluded an agreement with Apache New Zealand Corporation LDC, which results in an early termination of the Farmout Agreement dated September 1, 2011. This agreement relates to exploration in Petroleum Exploration Permits 38348, 38349 and 50940 located in the East Coast Basin of New Zealand.

Main Highlights of the Agreement:

KMP to Acquire Copano for Approximately $5 Billion in Unit for Unit Transaction

Kinder Morgan Energy Partners, L.P. (NYSE:KMP - News) and Copano Energy, L.L.C. (NASDAQ:CPNO - News) today announced a definitive agreement whereby KMP will acquire all of Copano’s outstanding units for a total purchase price of approximately $5 billion, including the assumption of debt. The transaction, which has been approved by the boards of directors of both companies, will be a 100 percent unit for unit transaction with an exchange ratio of .4563 KMP units per Copano unit. The consideration to be received by Copano unitholders is valued at $40.91 per Copano common unit based on KMP’s closing price as of Jan. 29, 2013, representing a 23.5 percent premium to Copano’s close on Jan. 29, 2013. The transaction, which is expected to close in the third quarter of 2013, is subject to customary closing conditions, including regulatory approval and a vote of the Copano unitholders. TPG, Copano’s largest unitholder (owning over 14 percent of its outstanding equity), has agreed to support the transaction.

Published: 30 January 2013
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Passport Energy Ltd. Announces 51-101 Reserve Report

Passport Energy Ltd. (PPO - TSX Venture)("Passport" or the "Company") is pleased to announce that it has filed its 51-101 reserve report on its reserves in the Hardy area of SE Saskatchewan.  

Hardy North Area (SE Saskatchewan)

GLJ Petroleum Consultants ("GLJ") has updated the Company's reserves assessment and evaluation report (effective September 30, 2012) and has assigned initial recoverable reserves (Total Proved plus Probable Producing category) of 119,000 gross bbls (29,750 net bbls) to the 4-16 well.

The GLJ assigned number of 119,000 barrels represents a 33% increase from GLJ's original reserve report (effective September 30, 2011) for the well.

Published: 29 January 2013
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Enterprise Announces Acquisition of Interest in Oil and Gas Assets in Papua New Guinea

Enterprise Energy Resources Ltd. (the "Company" or "Enterprise") (TSX VENTURE:EER) is pleased to announce that in conjunction with an arm''s length third party (the "Third Party"), the Company has acquired a 31.5% interest in Telemu No. 18 Ltd. ("Telemu"), a Papua New Guinea based subsidiary of LNG Energy Ltd. ("LNG") (TSX VENTURE:LNG) for aggregate consideration of $4,000,000 (the "Transaction").

Published: 25 January 2013
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  1. Pacific Rubiales Energy Corp ( PRE )
  2. Methanex Corporation ( MX )
  3. TAG Oil Ltd ( TAO )
  4. Passport Energy Ltd ( PPO )
  5. Lundin Petroleum AB ( LUP )