Halliburton wins $450Mcontract extension

Oilfield services company Halliburton Co. has been awarded a $450 million, two-year contract extension by StatoilHydro for rigs on the Norwegian continental shelf. The duration of the initial contract, awarded in 2006, was two years, with additional extension options of three two-year periods. Halliburton will provide drilling fluids, drilling waste management, cementing services, completions fluids and pumping services under this contract extension.

Transocean semi-subCajun Express wins Petrobras contract

Transocean Ltd. and Petrobras have agreed to a three-year contract for the ultra-deepwater semisubmersible rig, Cajun Express, for operations in Brazil. Petrobras has the right within one year of contract execution to convert the contract to a five-year contract. Estimated contracted revenues related to the three-year contract term and five-year contract term, if elected, are roughly $558.5 million and $894.3 million, respectively. The contract term is expected to begin in 1Q10 following the completion of the rig’s current contract.

Aurora Oil & Gas files voluntary bankruptcy

Traverse City, Michigan-based Aurora Oil & Gas Corp. and its subsidiary, Hudson Pipeline & Processing Co. LLC filed voluntary petitions for relief under Chapter 11 of the US Bankruptcy Code in the US Bankruptcy Court for the Western District of Michigan. Huron Consulting Group LLC continues to advise Aurora on its restructuring efforts.

Kosmos Energy closes $750M loan facilities

Privately-held international oil exploration and production company, Kosmos Energy, has closed on loan facilities totaling $750 million. The facilities are to be secured by shares its subsidiary, Kosmos Energy Ghana, and its interest in the Jubilee oil field. The financing will fund Kosmos’ share of Jubilee’s phase-one development. The debt is divided among a senior facility of $550 million, a junior facility of $100 million, and facilities of $100 million from the International Finance Corp. (IFC). The main facility has a final maturity date of December 2015. The facilities include an early-draw tranche of up to $300 million. Documentation was executed by Standard Chartered Bank, BNP Paribas SA, Société Générale, IFC, Absa Bank Ltd., Africa Finance Corp., Calyon and Cordiant Emerging Loan Fund III LP. Kosmos’ counsel was Slaughter and May, and lenders’ counsel was Clifford Chance. Credit Suisse provided Kosmos with certain financial advisory services.

Addax signs with IDS for drilling reporting services

IDS, a provider of web-based daily reporting services to the upstream oil and gas industry, has signed a new contract to provide drilling reporting services for Addax Petroleum. Being WITSML-enabled, DrillNet was able to meet systems integration needs. IDS charges for use instead of a traditional license fee.

Precision Petroleum gainsOklahoma producing wells

Precision Petroleum Corp. has acquired a 100% working interest in four producing Bartlesville Sandstone wells located in Section 31, T27N-R16E, Nowata County, Okla. Two oil wells are currently in production and on line while the other two are awaiting remedial recompletion. Included is an approved salt water disposal well. The company anticipates all costs associated with bringing all of the leases to their optimum capacities will be funded from production cash flow.

Synergy completes private equity offering

Synergy Resources Corp. has completed a private offering of 1,000,000 units at a price of $3.00 per unit. Each unit consisted of two shares of common stock, one Series A Warrant and one Series B Warrant. With the completion of this offering, Synergy has raised over $5.5 million in equity capital financing.

CARBO Ceramics moves headquarters to Houston

CARBO Ceramics Inc. has moved its headquarters from Irving, Tex. to Houston. The company’s new offices are located at Energy Center II, 575 N. Dairy Ashford, Suite 300, Houston, Texas 77079. Sales and technical staff will remain in Irving. Carbo specializes in fracture simulation software and geotechnical monitoring and is a large supplier of ceramic proppant, used during the hydraulic fracturing process.

Cubic Energy engages advisor; hopes to regain NYSE Amex compliance

Cubic Energy Inc. has engaged Donohoe Advisory Associates LLC in an effort to regain full compliance of its securities on the NYSE Amex LLC.

Southern Pacific selects BMO Capital Markets to evaluate SAGD financing

Southern Pacific Resource Corp. has appointed BMO Capital Markets as its financial advisor to help evaluate financing options for the construction of its first SAGD oil sands project. Southern Pacific recently submitted the project application for its 80% owned 12,000 b/d STP-McKay Project on Alberta’s Athabasca fairway. Financing options include bank financing, capital markets debt financing, equity financing or funding from a joint venture partner. The project is expected to cost C$400 million.

BNK Petroleum closes private placement

BNK Petroleum Inc. has closed its private placement for gross proceeds of $5,100,000. From the proceeds, the company will make a US$500,000 loan repayment to Bankers Petroleum Ltd. In addition, the company will repay US$1 million of unsecured non-interest bearing loans previously made to the company by three of its directors and its CEO. The balance of the proceeds will be used for general working capital purposes.

Primary Natural Resources III acquires oil, gas properties in Oklahoma

Primary Natural Resources III has acquired oil and gas properties and equipment in Ellis County, Okla. from Citrus Energy for an undisclosed amount. The company purchased 19 producing wells and two gathering systems, all operated. Net leasehold is 4,700 acres in 18 sections. Primary III is a Quantum Energy Partners investment company.

Weatherford snaps up secure drilling

Weatherford has completed its purchase of Secure Drilling. This follows Weatherford’s joint venture agreement with Impact Solutions Group Ltd. for a 50% interest in Secure Drilling in January.

Vanguard Natural Resources to acquire more South Texas properties

Vanguard Natural Resources LLC has agreed to acquire producing oil and natural gas properties in South Texas for $52.25 million from an affiliate of Lewis Energy Group LP. The properties have total estimated proved reserves of 27 Bcfe as of July 1, 2009, of which 94% is natural gas and 74% is proved developed. Lewis will operate all of the wells acquired. Based on the current net daily production of approximately 5,000 Mcfe, the properties have a reserve to production ratio of approximately 15 years.

Plains All American to utilize P2 Energy Solutions software

Plains All American Pipeline LP has implemented P2 Energy Solutions’s Enterprise Upstream software to handle its joint venture accounting. Developed on the Oracle technology platform, Enterprise Upstream integrates with the Oracle E-Business Suite and can be connected to other ERP software solutions. The Enterprise Upstream Suite includes oil and gas functionality in the areas of business intelligence, operations accounting, volumes management and land management. P2 Energy Solutions provides business software, map data, and enterprise services to the oil and gas industry.