Welcome to the Oil and Gas Financial Journal's Oil Markets Page containing news reported with the Oil & Gas Financial Industry perspective. Read the topic's highlights in the sections on this page below ro click on the sub-category you're interested in. 



TXCO Resource Inc.

TXCO Resource Inc.

  TXCO Resources Inc.
777 East Sonterra Blvd., Suite 350
San Antonio, Texas 78258

TXCO Resources is a full-cycle oil and gas company with a diversified development, exploitation and exploration inventory. It holds more than 700,000 net acres under lease (1 million gross acres) and focuses on high-potential areas with thousands of drilling prospects. Its core operating area is the Maverick Basin in Southwest Texas, prospective for multiple resource plays, including oil and tar sands. The company also is active in the Fort Trinidad Field of East Texas, the Midcontinent in western Oklahoma and the Marfa Basin in West Texas. A wholly owned Maverick Basin pipeline system moves natural gas to the nation¹s pipeline grid and to Mexico.

TXCO has a consistent record of long-term growth in its proved oil and gas reserves, leasehold acreage position, production and cash flow through its established exploration and development programs. TXCO¹s business strategy is to build shareholder value by acquiring undeveloped mineral interests and internally developing a multi-year drilling inventory through the use of advanced technologies, such as 3-D seismic and horizontal drilling. It accounts for its oil and gas operations under the successful efforts method of accounting.

Latest TXCO Resources News

W&T Offshore sets 2010 CAPEX at $450 million

W&T Offshore Inc.'s planned 2010 capital expenditure budget has been set at $450 million.

Newfield, Anadarko to jointly acquire Maverick Basin assets

Newfield Exploration Co. and Anadarko Petroleum Corp. will jointly acquire TXCO Resources Inc.'s (TXCO) assets in the Maverick Basin of Southwest Texas for up to $310 million.

Anadarko outbids Newfield for TXCO assets

Anadarko Petroleum Corp. has outbid Newfield Energy for assets of TXCO Resources.

Lime Rock Resources II closes with $410 million in capital commitments

Lime Rock, a private equity firm focusing on the global energy sector, has closed Lime Rock Resources II with $410 million in total capital commitments.

Newfield offers $223M for TXCO assets

After filing for bankruptcy earlier in the year, San Antonio-based TXCO Resources Inc. has agreed to sell a large portion of its assets for $223 million to Houston-based Newfield Exploration Co.

Linn Energy LLC closes $1.75B credit facility

Independent oil and gas development and acquisition company Linn Energy LLC has entered into a new $1.75 billion secured revolving credit facility with a $1.75 billion initial borrowing base, with BNP Paribas as administrative agent; Royal Bank of Canada as syndication agent; and Barclays, Calyon, Citibank and Royal Bank of Scotland as co-documentation agents.

TXCO Resources files voluntary bankruptcy

San Antonio, Tex.-based independent oil and gas company, TXCO Resources Inc., and its subsidiaries have filed voluntary petitions for relief under Chapter 11 of the US Bankruptcy Code in the US Bankruptcy Court for the Western District of Texas. The company has filed motions to allow it to continue to conduct business without interruption.

SEC may end abusive short selling

To the delight of many whose company shares are "trading at a discount," the head of the US House Financial Services Committee recently commented that the Securities and Exchange Commission was likely to reimpose the now defunct "uptick" rule which forces short sellers to sell at a price higher than the previous trade.

OGJ 150

Revenue, net income show small increases in 4Q2012

May 1, 2013 Revenues for the group of publicly-traded US-based companies tracked by Oil & Gas Journal and Oil & Gas Financial Journal grew in the final...

Helix completes sale of oil and gas business

Feb 6, 2013 Helix Energy Solutions Group Inc.has closed the previously announced sale of Energy Resource Technology GOM Inc. (ERT), the company’s oil and gas s...

Revenue, net income drop sharply in 3Q12

Feb 1, 2013 Revenues for the group of publicly-traded US-based companies tracked by Oil & Gas Journal and Oil & Gas Financial Journal continued their d...

WPX Energy makes natural gas discovery in Niobrara formation

Jan 23, 2013 Tulsa, OK-based oil and gas exploration and production company WPX Energy said January 22 that a recent Niobrara gas discovery in western Colorado ...

Helix to divest oil and gas subsidiary to grow well intervention business

Dec 13, 2012 International offshore energy company Helix Energy Solutions Group Inc. has agreed to sell its oil and gas subsidiary to privately-held upstream oi...


FourPoint raises $1B in capital, partners with EnerVest in Anadarko Basin

Jan 31, 2014 FourPoint Energy LLC has acquired certain producing and undeveloped oil and gas properties and related midstream assets in the Western Anadarko Bas...

OGFJ100P company update

Jul 11, 2013 Independent research firm IHS Herold Inc. has provided OGFJ with updated production data for our periodic ranking of US-based private E&P compa...

Maverick Brothers Energy gets $35M in equity capital from Post Oak Energy

Apr 8, 2013 Post Oak Energy Capital LP, through investment partnerships it manages, has commitment of $35 million in equity capital to privately held explorati...

Midstates Petroleum to acquire Anadarko Basin assets from Panther Energy

Apr 4, 2013

OGFJ100P company update

Jan 1, 2013 Independent research firm IHS Herold Inc. has provided OGFJ with updated production data for our periodic ranking of US-based private E&P compa...

Oil & Gas Companies

WestSide prepares for Meridian gas field expansion

WestSide Corp. Ltd. reports that, as operator of the Meridian gas fields near Moura in Queensland’s southern Bowen Basin in Australia,  the first phase of the field’s expansion is on track to start within a month, when drilling begins on the ...

Shell reports Malaysia deepwater gas discovery

Shell has announced an exploration discovery offshore Malaysia. The successful Rosmari-1 well is located 135 kilometers offshore in Block SK318, and was drilled to a total depth of 2,123 meters.

Cunningham Energy plans ‘Dragon’s Breath’ horizontal well program

Cunningham Energy LLC is planning three additional new shallow horizontal oil wells to be drilled in Clay County, West Virginia, from the “Dragon’s Breath” pad, with specified measured depths ranging from 4,750 feet to 5,200 feet.

L&L Energy to voluntarily delist from NASDAQ

L&L Energy Inc., a US-based company with energy (coal) operations in China, has notified NASDAQ Stock Market LLC of its intention to voluntarily delist its common stock (LLEN) from the NASDAQ.

Weatherford to move headquarters to Ireland

Weatherford International Ltd. has made plans to move its corporate headquarters from Switzerland to Ireland, after the Swiss government handed investors authority to rein in top-level executive pay.

Cantex Energy announces new president, headquarters

Cantex Energy Corp. reports that its board of directors has hired Paul Henley as CEO and president. Additionally, the company’s corporate headquarters will be moved to Dallas, Texas.

Weatherford to cut back Venezuela operations

This year, Weatherford International Ltd. plans to reduce its operations in Venezuela, while expanding its operations in Russia, according to Reuters.