Bakken Formation

CALGARY, ALBERTA--(Marketwire - Nov. 19, 2009) - NuLoch Resources Inc. (TSX VENTURE: NLR.A)(TSX VENTURE: NLR.B) advises that it has filed its unaudited interim financial statements as at September 30, 2009 and for the period then ended along with the associated Management Discussion and Analysis at www.sedar.com. Q3 2009 Accomplishments - On August 14, 2009, acquired a 200 boe/d company in an all-share transaction and posted an extraordinary gain of $2,281,000 resulting in net income of $1,780,000 in the quarter; - Production averaged 570 boe/d in the quarter compared to 507 boe/d in Q2 2009; - Funds flow from operations in Q3 2009 increased 17% from Q2 2009; - Carefully managed capital expenditures commensurate with available funds flow; - Subsequent to Q3, significantly expanded the business with an acquisition of petroleum and natural gas interests in North Dakota and a $26,810,000 equity financing; and - Current production is estimated at 769 boe/d with a 55% weighting to light ...

OKLAHOMA CITY, Nov. 19 /PRNewswire-FirstCall/ -- Crusader Energy Group Inc. (Pink Sheets: CKGRQ) today announced that J/M Crusader Acquisition Sub LLC, a subsidiary of Jones Energy Ltd., was the successful bidder at an auction conducted on Friday, November 13, 2009, pursuant to the bid procedures approved by the Bankruptcy Court in Crusader's bankruptcy proceedings. Jones' successful bid is to acquire all shares of the common stock of Crusader that will be issued upon the effectiveness of the reorganization of Crusader and its wholly-owned subsidiaries under Chapter 11 of the United States Bankruptcy Code. As previously announced, Crusader and its wholly-owned subsidiaries filed voluntary petitions for relief under Chapter 11 of the US Bankruptcy Code with the United States Bankruptcy Court for the Northern District of Texas, Dallas Division on March 30, 2009. Under Crusader's proposed plan of reorganization, all of the currently outstanding equity interests in Crusader would be ...

SAN ANTONIO--(BUSINESS WIRE)-- Abraxas Petroleum Corporation (NASDAQ: AXAS) today announced its 2010 capital expenditure budget of $30 million and issued guidance for 2010. The capital program for 2010 will be selected from the Company's inventory of projects and will include new drills and re-completions / workovers in the Company's primary producing regions of the Rocky Mountain, Mid-Continent, Permian Basin and onshore Gulf Coast. The ultimate mix of ...

CALGARY, ALBERTA--(Marketwire - Nov. 17, 2009) - PetroBakken Energy Ltd. ("PetroBakken") (TSX: PBN) is pleased to announce that our cash dividend for the month of November will be paid on December 15, 2009 to all PetroBakken shareholders of record on November 30, 2009. The November dividend will be $0.08 per PetroBakken share. The ex-dividend date is November ...

RIVERTON, Wyo., Nov. 16, 2009 (GLOBE NEWSWIRE) -- U.S. Energy Corp. (Nasdaq: USEG) ("USE" or the "Company"), a natural resources exploration and development company with interests in oil and gas, molybdenum, geothermal, and real estate assets, today announced the initial production rate from its Lee 16-21 #1H Bakken well and provided an operations update regarding its Williston Basin drilling program. Williston Basin -- Bakken Drilling Program The Lee 16-21 #1H well, which is operated by Brigham Exploration Company (Nasdaq: BEXP) ("Brigham" or "BEXP"), flowed at an initial 24-hour production test rate of approximately 1,341 barrels of oil and 1.22 MMCF of natural gas per day or 1,544 BOE/D. The well was completed with swell packers and 28 fracture stimulation stages. USE's initial working interest in this well is approximately 60% (~47% net revenue interest), and oil sales from this well are expected to commence immediately. As with the previously completed BCD Farms ...