BP Plans Another Multi-Billion-Dollar Investment in Its North American Natural Gas Unit and ExxonMobil Announces Startup of Marimba North Project Offshore Angola
City of Industry, CA --(www.USEquityNews.com)-- 10/26/2007 - Energy industry alert provided by U.S. Equity News. BP PLC (NYSE:BP) plans to invest more than $2 billion to increase its natural gas production from its Wamsutter Wyoming natural gas production field and stabilizer unit. BP plans to drill 100-150 wells at Wamsutter per year over the next 10 years. In addition to the new wells, BP plans to either rehabilitate its 5,000-barrel-per-day condensate stabilizer or construct a stabilizer plant with a capacity of 5,000 to 10,000 barrels per day.
CVX (NYSE: CVX), one of the world's leading energy companies, will hold its quarterly earnings conference call on Friday, November 2, 2007, at 11:00 a.m. EDT (8 a.m. PDT). The news release announcing third quarter 2007 financial results will be released before market opening on November 2, 2007. Chevron Corporation is one of the world's leading integrated energy companies.
Exxon Mobil Corporation (NYSE:XOM) recently announced that its subsidiary, Esso Exploration Angola (Block 15) Limited, has started production from the Marimba North project, designed to develop 80 million barrels of oil in approximately 3,900 feet (1,300 meters) of water more than 90 miles (145 kilometers) off the coast of Angola. The Marimba North project is a tie-back to the Kizomba A development and has come on stream ahead of schedule and within budget.
Holloman Energy Corporation (OTCBB: HENC) has scheduled Hunt Oil's "Hunt 3" drill rig for an anticipated spud date of November 15th, 2007. Holloman Energy Corporation retains the oil & gas exploration permits PEL's 108, 109, & 112, located in South Australia in the prolific Cooper/Eromanga Basin. Holloman Energy Corporation (the Operator) has agreed to drill and complete three exploratory wells in the northern section of PEL 112. For the full StocksJournal CFA report, please visit, http://www.stocksjournal.com
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