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Petrobras (NYSE:PBR) has initiated production at the Chinook oil and gas field located in the ultra-deep section of the Gulf of Mexico last week. The bore is drilled in a reservoir which is almost a world record depth of five miles, employing advanced drilling tech to search for oil in the extreme environment.
Investing Insights: QE3 PUSHES Gold and Silver to Best Weekly Finish in Months.
Shares of InterOil Corporation (NYSE:IOC) spiked following word from Chief Financial Officer Collin Visaggio that at least two supermajors have made offers for an operating investment in the company’’s Gulf liquid natural gas project in Papua New Guinea. Talks between competing parties have also created interest as to whether InterOil might be subject to a takeover bid.
Halliburton Company (NYSE:HAL) searches for a seven-inch tube that contains radioactive material that became missing in West Texas earlier in the week. The tube is used for measuring and evaluating conditions within oil and gas wells; if found it should not be touched.
Shares of BioFuel Energy Corp. (NASDAQ:BIOF) continued their way skyward, ignited by David Einhorn’s increased investment, but now Street Insider says closer inspection of the 13D filing implies that new shares were given to Einhorn and his Greenlight Capital fund for free, following a “true-up” agreement.
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