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| Petroflow Energy LTD 1401 17th Street Suite 310 Denver, CO 80202 303-296-7070 |
Petroflow’s primary development activity continues to be in our Hunton Resource Play in Oklahoma. We currently have three drilling rigs running continuously on this successful project. This makes Petroflow Energy (PEF) one of the most active public companies in this unique resource play. Since we entered into the Farmout to develop this play in April of 2005, we have spud forty three Hunton producers with thirty six currently on production and the other seven in various stages of completion and hook up. Production continues to ramp up, with most of these wells continuing some level of dewatering.
Burleson Cooke extends Marcellus reach; adds five to Pittsburgh office
The Houston energy law firm of Burleson Cooke has added five lawyers to its Pittsburgh office to better serve companies with an interest in the Marcellus Shale formation.
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Petroflow sells Permian assets to reach amended credit agreementIn an ongoing effort to right itself, Petroflow Energy Ltd. is making additional changes, including naming Kyle R. Miller to the position of CEO, transitioning the corporate headquarters to Denver, and selling its Permian Basin properties to reduce debt. |
Moodie resigns as Petroflow CFODuncan Moodie, CFO of Petroflow Energy Ltd. has resigned. |
Parallel Petroleum enters $483M acquisition agreement
Midland, Tex.-based Parallel Petroleum Corp. will be acquired by an affiliate of Apollo Global Management LLC, a global alternative asset manager, for $483 million, including the assumption or repayment of roughly $351 million in debt.
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Marathon's Schwind to retire after 34 years; Kerrigan to step in
William F. Schwind, Jr., vice president, general counsel and secretary of Marathon Oil Corp., will retire November 1, 2009. As of September 1, Schwind has resigned his VP and general counsel role.
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Weaver and Tidwell taps new leader
Accounting firm Weaver and Tidwell LLP has named Tommy Lawler managing partner and CEO. Kerry Caves has been appointed to the COO position previously held by Lawler.
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Petroflow Energy terminates Hunton acquisitionPetroflow Energy Ltd. has terminated a Letter of Intent (LOI) with a third party to acquire Hunton Resource Play assets. In February, the company planned to acquire additional producing oil and gas assets in the play in Oklahoma. Internal valuations placed the value at roughly $46 million. |
Noble Energy COO Stover gains role of president
Independent oil and gas exploration and production company Noble Energy Inc. has elected David L. Stover as president in addition to his current role as COO.
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