July 23, 2009

Today at OilandGasInvestor.com!

Oxy Discovers New, Huge Oil Field—Onshore U.S.! Occidental Petroleum Corp., Los Angeles, (NYSE: OXY) reports a possible 250 MMBOE oil discovery in Kern County, California. Chairman and CEO Ray Irani says, “We believe this to be the largest new oil and gas discovery made in California in more than 35 years. It is probable that there are additional reserves outside the defined area, and it is possible that structures of this type exist elsewhere in Oxy's 1.1-million-net-acre position in California.”

            Click for the story. Click for more than 70 articles and well reports on Kern County E&P operations from the OilandGasInvestor.com archives: Kern County, California. Click for the 2003 Oil and Gas Investor feature article exclusively on Kern County E&P activity: Kern County.

Basic, XTO Bakken Well Making 255 BO/dBasic Earth Science Systems Inc. (OTCBB: BSIC) and partner XTO Energy Inc.’s, Fort Worth, (NYSE: XTO) Halvorsen-State 31X-36 horizontal Bakken well produced an average 255 BO/d in June. Basic president Ray Singleton says, “With oil prices rising…, we are putting plans in place that are expected to show positive results for Basic Earth’s future growth.”

            Click for the story. Click for more details on Bakken exploration at OilandGasInvestor.com: Bakken Shale. Click for the Bakken Playbook and Map and for the complimentary webinar Issues In The Bakken now available on demand. Click for the Bakken homepage at the new unconventional-resource business-development center, UGcenter.com: Bakken Homepage.

Who’s Drilling? Watch Large Independents, Midcaps After dropping more than 50%, the rig count is beginning to stabilize and patterns are emerging, indicating what shape the recovery will take. The key is what types of producers are drilling and what type of drilling they are doing, report analysts with Barclays Capital. Click for their findings: Who Is Drilling?

FederalLeases.Com: Online Bidding Coming! The BLM has initiated a pilot online auction to evaluate results, compared with traditional, oral auctions, reports EnergyNet.com Inc. president and chief executive Bill Britain. EnergyNet.com has been selected for the pilot. Read more about it at The Dewatering Hole, the guest blog at OilandGasInvestor.com, including three charts of historical BLM data: Online Bidding For Federal Leases Upcoming.

A Half-Priced A&D Deal A one-year A&D Watch newsletter subscription now comes with a ticket to the eighth annual A&D Strategies and Opportunities conference this Sept. 1-2 (The Fairmont, Dallas), access to the new online asset buying and selling business-development center A-Dcenter.com through year-end, and access to the eight A&D—The Workshop: Developing Unconventional Gasvideo presentations and slides from the recent Developing Unconventional Gas conference, including TPH’s Dave Pursell on “Why This Gas Price? The Outlook for Return on Investment” and Range Resources’ Chad Stephens, XTO Energy’s Tim Petrus and Comstock Resources’ Blaine Stribling on “Tips, Tricks and Traps: Advice from the Unconventional Gas A&D Pros.”

A&D Watch is offering this more than $3,000 package for $1,495. Sign up now.

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OilandGasInvestor.com Today is brought to you by the editors of Oil and Gas Investor and related market-intelligence products, including A&D Watch newsletter and Oil and Gas Investor This Week: Leslie Haines, Nissa Darbonne, Peggy Williams, Steve Toon, Stephen Payne, Jeannie Stell and Susan Klann. To contact the editors, write to lhaines@hartenergy.com, ndarbonne@hartenergy.com, stoon@hartenergy.com, spayne@hartenergy.com, jstell@hartenergy.com,pwilliams@hartenergy.com and sklann@hartenergy.com.

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