Masp, Apc, & Mro: Why Drill Offshore When You Can Strike Oil Kansas?
Mass Petroleum (MASP.OB)
Mass Petroleum (MASP.OB)
Mass Petroleum is looking to leave a major footprint in the sands in Western Canada.
That just might be the Alberta Oil Sands, the second largest source of oil in the world after Saudi Arabia. Mass Petroleum, which engages in the acquisition of producing oil and gas projects, is in the process of acquiring several producing oil and gas assets in Western Canada. With the target acquisition offering a stable production base with low risk drilling opportunities, a steady cash flow for continued exploration and development in various prospect areas within the Western Canadian Sedimentary Basin is assured.
Mass Petroleum's primary objective is to make strategic acquisitions balanced with focused exploration and development plans It also seeks to build core areas with significant undeveloped land, high working interest and/or operatorship, balance a light oil and gas portfolio with large scalable reserves, and focus on high Working Interest (WI) projects with an upside drilling prospect.
The company, which engages in the acquisition of producing oil and gas projects, is currently in the process of acquiring several producing oil and gas assets in Western Canada. The target acquisitions offer a stable production base with low-risk drilling opportunities, which is one of MASS's main focuses. Canada's proven oil reserves hols more than 175 billion barrels of oil, with 95 percent of that found in Alberta.
About Mass Petroleum Inc:
Mass Petroleum Inc is engaged in oil and gas exploration and production. The company is expanding its business through acquisitions of exploration stage oil and gas wells by means of leases or buying substantial interest in them. The company has work force of most experienced professional in oil and gas sector. As on November 30th, 2009 the company reported its three exploration properties in Oklahoma with 2.34 percent interest in their ownership. The companys main focus is in oil and gas leases and interest ownership in medium sized oil and natural gas production properties. Mass Petroleum is also looking forward to acquire non operational interests and exploration interests in producing wells.
For More Info Visit: http://www.masspetroleum.com
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Anadarko Petroleum Corporation
Recent New: BP: Cracks in Well Head Still Possible As Cap Test Goes On
APC is among the largest independent oil and natural gas exploration and production companies in the world, with approximately 2.3 billion barrels of oil equivalent (BBOE) of proved reserves at year-end 2009. APCs portfolio of assets encompasses premier positions in nearly a dozen major U.S. onshore natural gas resource plays.
APC also is the largest independent deepwater producer in the Gulf of Mexico, and has production and/or exploration in Alaska, Algeria, Brazil, China, Indonesia, East and West Africa.
Kahn Swick & Foti, LLC (KSF) has filed a class action lawsuit against APC in the United States District Court for the Southern District of New York, on behalf of purchasers of the common stock of the Company between June 12, 2009 and June 9, 2010, inclusive (the Class Period). No class has yet been certified in this action.
In particular, the Complaint charges APC, 25% owner of the Macondo/Deepwater Horizon well currently leaking millions of gallons of oil into the Gulf of Mexico, with failing to disclose, among other things: that there was no effective Exploration and Oil Spill Response Plan for Macondo/Deepwater Horizon; that BP implemented drilling procedures solely to cut costs at the expense of safety; that the Company lacked adequate systems of internal, operational or financial controls to maintain adequate insurance reserves or to meet the known or foreseeable risks associated with its deepwater drilling liabilities; and that defendants lacked any reasonable basis to claim that APC was operating according to plan, or that APC could achieve guidance sponsored and/or endorsed by defendants.
More about APC at www.anadarko.com
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MRO, Marathon Oil Corporation (NYSE: MRO)
Marathon Oil Corporation engages in the exploration, refining, marketing, and transportation of liquid hydrocarbons, natural gas, crude oil, and other petroleum products worldwide. It operates in four segments: Exploration and Production; Oil Sands Mining; Integrated Gas; and Refining, Marketing, and Transportation. The Exploration and Production segment involves in the exploration, production, and marketing of liquid hydrocarbons and natural gas on a worldwide basis.
Marathons comprehensive product line supports commercial, industrial and retail operations nationwide. The companys marketing operations supply fuels, petrochemicals, asphalt and special products.
The Shaw Group has been awarded a contract from Marathon Oil to provide construction management services for a benzene reduction project at its refinery in Robinson, Ill. Financial terms were not disclosed.Construction is supposed to be finished before the mandated date for reduction of benzene content in gasoline to meet new Environmental Protection Agency standards.
Shaw also has handled work for other Marathon refineries and last year received a maintenance, capital construction, turnaround support and specialty services contract for Marathons Texas refining division.
MRO announced in May that Howard J. Thill, Marathon vice president of Investor Relations and Public Affairs, will present at the UBS Global Oil and Gas Conference on Wednesday, May 26, 2010, at 7:30 a.m. CDT.
A live audio webcast of these remarks will be accessible via Marathons website at http://www.marathon.com. This presentation and associated question-and-answer session may include forward-looking information. A replay of the presentation will be available and archived on Marathons website through June 9, 2010.
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by: Blayne Sheffield
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