BP’s (NYSE:BP) three-year probation was ended by a Federal judge. BP was on probation for the negligent discharge of oil in Alaska in 2007.

Carrizo Oil & Gas (NASDAQ:CRZO) announces that it hit its production goal of 5,000 net barrels of oil per day before the end of the year. CEO S.P. Johnson says from the firm’s Eagle Ford project alone the driller could realize as much 7,000 net barrels a day by the end of 2012. His comment is based on current forecasts.

Noble Energy (NYSE:NBL) rises after declaring it has made a “significant gas discovery” in a well off the coast of Cyprus. Noble Energy has a 70% stake in the well.

Chesapeake Energy (NYSE:CHK) used underhanded tactics according to a Michigan court case, to shield its identity and get out from under unprofitable drilling leases. Legal experts have their eye on the case as Chesapeake’s actions could indicate a strategy of not planning to honor its contracts.

ExxonMobil’s (NYSE:XOM) deal to explore for oil in Kurdistan, given its potential to exacerbate existing political tensions, has upset the Iraqi government. No punitive measures have yet been taken, in spite of threats, which is likely due to the government’s need for Exxon’s money and expertise at a time when many oil majors are reluctant to invest in Iraq.

Hyperdynamics (AMEX:HDY) jumps higher after stating it will resume drilling operations at an offshore gas well near Guinea in 10 days. Two weeks ago, Hyperdynamics said it had undergone mechanical and operational issues that forced it to curtail drilling.

Cheniere Energy (AMEX:LNG) surges after the Federal Energy Regulatory Commission says the plant won’t have a major impact on the quality of the local environment. Its environmental assessment of Cheniere’s proposed natural gas liquefaction plant in Sabine Pass, LA leads to this conclusion.

To contact the reporter on this story: Tanya Harding at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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