Oil & Gas Company News Directory

Letho Resources Signs LOI with Stream Oil and Gas

Letho Resources Corp. (TSXV:LET) has signed a Letter of Intent with Stream Oil & Gas Ltd. whereby Letho has agreed to loan Stream up to C$5,000,000 which loan will be supported by the issuance of a convertible debenture to Letho. Subject to TSX Venture Exchange approval and entry into a definitive agreement, Letho will advance the loan in two separate tranches, with the first tranche amounting C$2.0 million and the second tranche amounting to C$3.0 million. The dates on which both tranches will be advanced are to be set out in the definitive agreement.

Teekay LNG Partners Secures Interest in 4 LNG Newbuildings

Teekay LNG Partners L.P. (NYSE:TGP) has acquired ownership interests in four 174,000 cubic meter Tri-Fuel Diesel Electric liquefied natural gas (LNG) carrier newbuildings from BG Group (LSE:BG). The vesels will be constructed by Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. in China and are scheduled to deliver between September 2017 and January 2019. Each newbuilding will operate under a 20-year time-charter contract, plus extension options, with Methane Services Limited, a wholly-owned subsidiary of BG.

Baytex Energy Updates 2014 Guidance to Incorporate Acquisition of Aurora Oil and Gas

Baytex Energy Corp. (TSX:BTE,NYSE:BTE) provided an updated guidance for the second half of 2014 to account for the acquisition of Aurora Oil & Gas Limited (TSX:AEF) was completed on June 11, 2014. The Aurora acquisition expands Baytex's asset portfolio into the Eagle Ford, which is one of North America's premier oil resource plays.

Boomerang Oil Announces New Oil and Gas Discovery

Boomerang Oil, Inc. (CSE:BOI,FSE:0B9) reported an oil and gas discovery in the Crawar #1 Well at its J.B Tubb Leasehold Estate at Crawar Field, Ward County Texas. Boomerang’s recent NI 51-101 engineering reports and reserve studies have indicated net proved reserves of at least 243,000 barrels of oil equivalent.