Burlington Resources Company News
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Biden Admin Issues 30+ Drilling Permits
Wednesday, January 27, 2021The Biden administration has issued at least 31 new drilling permits authorizing operations on federal land and coastal waters.
Repsol Finds Gas in Peru's Block 57
Monday, January 14, 2008Repsol has made a new gas discovery in Peru in the exploratory well Kinteroni X1 of block 57, situated in the Cuzco area.
Burlington Signs E&P Contracts for Blocks 123, 124
Monday, October 02, 2006Peru's hydrocarbons promotions agency Perupetro has signed two E&P contracts with the Peruvian subsidiary of US oil company Burlington Resources for blocks 123 and 124 in Loreto department's Marañón basin, Perupetro said in a statement.
ConocoPhillips Reports Q2 Net Income of $5.2 Billion
Wednesday, July 26, 2006ConocoPhillips said that it earned second-quarter net income of $5,186 million, or $3.09 per share, compared to $3,138 million, or $2.21 per share, for the same quarter in 2005.
Gasco Secures Wyoming Partner, Permits Hilliard Test
Tuesday, July 11, 2006Gasco Energy, Inc. on Tuesday provided an interim operations update on its Riverbend Project in Utah's Uinta Basin and on its Wyoming Projects in the Green River Basin.
A Tug-of-War in the Oil Patch
Thursday, May 04, 2006Major oil companies, facing declining output from mature fields, have been finding it difficult to increase oil and natural-gas production for some time. That task could become even trickier.
Ecuador, Oil Companies Begin Contract Renegotiation Process
Friday, April 21, 2006Ecuador's government began renegotiating existing oil contracts this week and aims to complete the process within 45 days, Ecuador's energy ministry spokesperson Fernando Proano said.
Ahlstrom Joins Noble's Management Team
Monday, April 17, 2006Noble Corp. announced that Lee M. Ahlstrom, 38, will join Noble as Vice President of Investor Relations and Planning of Noble Drilling Services Inc. effective May 1, 2006.
ConocoPhillips Finalizes Burlington Merger
Friday, March 31, 2006ConocoPhillips announced that it has completed its acquisition of Burlington Resources following approval by Burlington's shareholders on Thursday.
Armitage, Shackouls, and Wade Join ConocoPhillips' Board
Friday, March 31, 2006ConocoPhillips' board has elected Richard L. Armitage, Bobby S. Shackouls, and William E. Wade, Jr. as new outside directors. The total number of ConocoPhillips directors now stands at 18, of which 17 are outside directors.
Burlington Stockholders Okay ConocoPhillips Merger
Thursday, March 30, 2006Burlington Resources reports that its stockholders have approved the proposed merger with ConocoPhillips. The merger is expected to close on Friday.
Analysts: Upstream M&A Booming, But North American Share Declines
Wednesday, March 29, 2006Upstream merger and acquisition activity is booming, with 2005 spending on corporate acquisitions more than tripling to $120 billion as the corporate deal count rose 40% year-over-year.
Initial Engineering and Design Contract Awarded for El Merk
Thursday, March 16, 2006Sonatrach and Anadarko announced that Brown & Root--Condor has won an initial engineering and detailed design contract for the proposed El Merk development in Algeria.
HSR Waiting Period Expires in ConocoPhillips' Acquisition of Burlington
Wednesday, February 22, 2006ConocoPhillips and Burlington Resources report the expiration of the waiting period under the Hart-Scott-Rodino Act applicable to ConocoPhillips' proposed acquisition of Burlington.
Burlington Resources Says 4Q05 Earnings at $927 Million
Thursday, January 26, 2006Burlington Resources says estimated fourth-quarter earnings were $927 million, or $2.45 per diluted share, including after-tax charges of $0.09 per diluted share for impairment of natural gas properties in China, $0.09 per share for various compen
Pace of E&P Acquisitions, Upstream Investment Expected to Pick Up
Friday, January 06, 2006With so much money on the table and no other logical outcome, the pace of mergers and acquisitions among O&G firms will pick up again this year, and capital investment in the upstream sector will grow by at least 25%, according to a report by Herold.
ConocoPhillips to Acquire Burlington Resources in $35.6 Billion Deal
Tuesday, December 13, 2005ConocoPhillips and Burlington Resources Inc.have signed a definitive agreement under which ConocoPhillips will acquire Burlington Resources in a transaction valued at $35.6 billion.
Analysts Predict Accelerated E&P Consolidation Will Continue
Monday, December 12, 2005The rumor that ConocoPhillips has its eye on Burlington Resources shows that the acceleration of merger and acquisition activity this year is likely to continue, according to analysts at Raymond James & Associates.
Burlington Resources Ups Stake in Bossier Trend Acreage
Tuesday, November 15, 2005Burlington Resources has reached agreement to acquire substantially all the assets of a privately held company that is a co-owner with Burlington in the prolific Savell Field in the Bossier trend of East Texas.
Burlington Says 3Q05 Production on Lower End of Guidance Range
Monday, October 10, 2005Burlington Resources updated guidance on expected third-quarter production volumes.
Burlington Resources Says 140 Mmcfed Gulf of Mexico Production Shut-in
Monday, September 26, 2005Burlington Resources reports that approximately 140 million net cubic feet per day of natural gas equivalent production (MMcfed) is currently shut-in as a result of Hurricane Rita, down from a maximum storm-related curtailment of 180 MMcfed.
Burlington Resources Confirms Minimal Damage Due to Hurricane Katrina
Tuesday, September 06, 2005Burlington Resources reports that its facilities in South Louisiana had sustained little apparent damage due to Hurricane Katrina's passage through the area.
Burlington Resources Increases Quarterly Dividend on Common Stock
Wednesday, July 27, 2005The board of directors of Burlington Resources declared a quarterly dividend of 10 cents per share on the company's common stock, which represents a 1.5 cent or approximately 18 percent increase in the dividend.
Burlington Resources Declares Dividend
Wednesday, April 27, 2005Burlington Resources declared a quarterly dividend of 8.5 cents per share.
The Peak Group Wins Key Irish Sea Well Contract
Monday, February 14, 2005The Peak Group has secured a major contract with Burlington Resources Irish Sea Limited for the planning and management of three gas wells in the East Irish Sea.
Burlington Resources Announces 2004 Results
Thursday, January 27, 2005Burlington Resources announced estimated fourth-quarter 2004 earnings of $400 million, or $1.02 per diluted share.
Burlington Resources Declares Dividend on Common Stock
Wednesday, January 26, 2005Burlington Resources declared a quarterly dividend of 8.5 cents per share on the company's common stock.
Burlington Resources Provides Interim Update
Thursday, January 13, 2005Burlington Resources announced several interim financial and operational updates. These updates may differ from actual results for the fourth quarter and full year of 2004, which will be reported on Jan. 26, 2005.
Global, Burlington to Invest US$70mn in Peru Blocks 95, 104
Monday, December 20, 2004Peru's hydrocarbons investment agency Perupetro expects the Global Energy Development and Burlington Resources to invest a combined US $70mn to explore two blocks in the northern Maranon basin,
Burlington Resources Announces 2005 Capital Budget
Wednesday, December 08, 2004Burlington Resources announced plans for capital investments of approximately $2.0 billion during 2005, compared to estimated expenditures of $1.8 billion during 2004, which included approximately $85 million in capital for acquisitions.
Burlington Reports 46 Percent Increase in 3Q04 Earnings
Thursday, October 21, 2004Burlington Resources reported estimated earnings of $389 million, or $0.98 per diluted share, during the third quarter of 2004, a new quarterly earnings record for the company.
Burlington Resources Declares Dividend
Wednesday, October 20, 2004Burlington Resources declared a quarterly dividend of 8.5 cents per share on the company's common stock.
Burlington Resources Relinquishes Alaskan Leases
Monday, August 23, 2004Burlington Resources has abandoned 32 leases it acquired in Alaska's first area-wide North Slope Foothills lease sale in 2001.
Burlington Increases Quarterly Dividend on Common Stock
Wednesday, July 21, 2004Burlington Resources declared a quarterly dividend of 8.5 cents per share on the company's common stock, which represents a one-cent or approximately 13 percent increase in the dividend.
Burlington Reports Record Production & Earnings Increase
Thursday, April 22, 2004Burlington Resources reported estimated earnings during the first quarter of 2004 of $354 million, or $1.78 per diluted share, a 32 percent increase over the $269 million, or $1.33 per diluted share, earned during the first quarter of 2003.
Burlington Resources Confirms 2-for-1 Split of Common Stock
Wednesday, April 21, 2004Burlington Resources said that its stockholders approved an amendment to the company's Certificate of Incorporation to increase the number of authorized shares of the company's common stock to 650 million shares from the current level of 325 million shares.
Burlington Resources Declares Quarterly Dividend on Common S
Wednesday, April 21, 2004The board of directors of Burlington Resources declared a quarterly dividend of 15 cents per share on the company's common stock on a current-share basis, or 7.5 cents per share on a post-split basis.
Burlington Says Startup of Rivers Field Delayed
Thursday, March 04, 2004Natural gas production from the Rivers field in the Irish Sea is not expected to start for another few weeks.
Burlington Gets Okay to Develop China's Bajiaochang Gas Fld
Friday, February 27, 2004Burlington has received official approval from China's State Development and Reform Commission to develop the Bajiaochang Gas Field in Sichuan Province.
ATP Resolves Litigation with Burlington and Legacy
Monday, December 29, 2003ATP Oil & Gas reports that both litigation matters addressed in its SEC filings have been resolved.
Burlington Projects Flat Capital Investments of $1.5 Billion
Thursday, December 18, 2003Burlington Resources announced plans for capital investments of approximately $1.5 billion during 2004, compared to roughly $1.5 billion in currently projected 2003 capital investments.
Burlington Pulls Out of Block 64 in Peru
Monday, December 08, 2003Burlington Resources is awaiting formal approval from Peru's energy and mines ministry to withdraw from block 64 because of indigenous opposition to exploration.
UK DTI Offers Burlington Resources Two Irish Sea Blocks
Wednesday, November 05, 2003Energy Minister Stephen Timms offered a licence to Burlington Resources who had requested the Blocks to be made available "Out of Round".
CNOOC Begins Production at Panyu Fld in the South China Sea
Wednesday, October 08, 2003CNOOC and its partners have started commercial production from oilfield PY 4-2/5-1 in the Eastern South China Sea.
Baker Energy Wins Algerian Contract from Burlington
Thursday, July 10, 2003Baker Energy has been awarded a multi-year, multi-million dollar contract by Burlington Resources to provide operations and maintenance support personnel for Burlington's oil and gas production facilities in Block 405a of the Sahara Desert in Algeria.
Burlington Begins Production from MLN Field in Algeria
Monday, July 07, 2003Burlington Resources has commenced oil production from the Menzel Lejmat North Field in Algeria, along with initial commissioning of the field's oil processing and storage facilities.
Burlington Resumes Partial Production for Madden Field
Monday, July 07, 2003Burlington Resources says that partial production has resumed at the Madden Field from two of the six Madden Deep wells, and the Train II unit at the Lost Cabin Processing Plant has restarted.
Burlington Resources Shuts Down Production at Madden Field
Friday, June 20, 2003Burlington Resources has taken precautionary measures to shut-in natural gas production flow into the Madden Field's Lost Cabin Gas Plant in central Wyoming.
Marathon Sells Stake in CLAM Petroleum
Wednesday, May 14, 2003Marathon Oil has agreed to sell Burlington Resources it's interest in CLAM Petroleum B. V. (CLAM) for approximately $100 million, which includes approximately $15 million for working capital.
Chevron Canada Makes Gas Discovery at Mackenzie Delta
Thursday, April 24, 2003Chevron Canada reports that the North Langley K-30 well in the Mackenzie Delta has encountered commercial quantities of natural gas.