Kerr-McGee Corp. Company News

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Synergy Resources Approved as O&G Operator in Colorado
Wednesday, May 13, 2009Synergy Resources has been approved by the Colorado Oil and Gas Commission as an oil and gas operator in the state of Colorado.

Anardarko Is Winner in U.S. Royalty Case
Tuesday, January 13, 2009A federal appellate court has sided with Anadarko Petroleum Corp. in a closely watched case on fossil-fuel royalties, blocking the federal government from collecting as much as $10 billion from oil-industry production in the Gulf of Mexico.

U.S. Official Estimates $31B At Stake in Kerr-McGee Case
Tuesday, February 26, 2008A U.S. Interior Department official said that the government could lose out on as much as $31 billion of royalty payments for leases issued in the late 1990s unless a court decision that rejected the government's right to the payments is reversed.

First Subsea Drives Deepwater Connector Innovation
Monday, February 04, 2008First Subsea, formerly BSW Ltd, was the first company to develop and deploy ball and taper-based mooring technology. With increased demands for flexible connection and tethering devices, First Subsea will have to stay ahead of its competition.

UK North Sea J-Block Oil, Gas Fields Shut on Glitch
Thursday, January 24, 2008Oil and gas production at the J-Block fields in the U.K. North Sea has been shut down due to an operational problem, but should return to full production within the next couple of days, a spokeswoman for operator of the fields ConocoPhillips said.

Anadarko Closes $8B Credit Facility
Wednesday, April 11, 2007Anadarko Petroleum Corp. on Tuesday announced that closing and funding of its previously announced new credit facility.

A2D's US Collection Passes 3.5M Mark
Friday, March 09, 2007A2D Technologies has surpassed 3.5 million logs in the US inventory for Log-Line, the company's online database of more than 4.7 million well logs worldwide.

Anadarko Reports Results for Q4, 2006
Tuesday, February 06, 2007Anadarko Petroleum Corporation on Tuesday announced its fourth-quarter and full-year 2006 financial and operational results.

Noble Sets New Record for Deepwater Mooring
Thursday, August 31, 2006Noble Drilling's semisubmersible drilling unit Noble Amos Runner has successfully established a new world record for the deepest "conventionally moored rig" by mooring in 7,650 feet of water in Green Canyon Block 955.

W&T Offshore Closes Kerr-McGee Transaction
Friday, August 25, 2006W&T Offshore has completed the merger transaction with a Kerr-McGee subsidiary owning the Gulf of Mexico conventional shelf properties of Kerr- McGee, as previously announced on January 23, 2006.

Western Gulf of Mexico Sale 200 Attracts $462.8 Million in Bids
Thursday, August 17, 2006Near record oil and gas prices and increased industry interest in deepwater production led to robust bidding in yesterday's offshore federal lease sale.

Kerr-McGee Stockholders Adopt Merger Agreement
Thursday, August 10, 2006At a special meeting today Kerr-McGee stockholders voted to adopt the merger agreement providing for the merger of Kerr-McGee with a subsidiary of Anadarko Petroleum Corporation.

Anadarko Completes Kerr-McGee Acquisition
Thursday, August 10, 2006Anadarko Petroleum Corp. on Thursday announced it has completed the acquisition of Kerr-McGee Corp.

W&T Offshore Releases Q2 Financial and Operational Results
Wednesday, August 09, 2006W&T Offshore, Inc. on Wednesday announced the company's financial and operational results for the second quarter 2006.

Mariner Energy Issues Q2 Results, Operational Update
Monday, August 07, 2006Mariner Energy, Inc. on Monday announced its financial results for the second quarter 2006 and provided an operational update.

Senate Approves Limited 'Royalty Relief' Amendment
Friday, August 04, 2006The Senate approved Sen. Jon Kyl's amendment last night to pending fiscal 2007 defense spending legislation aimed at reforming the federal "royalty relief" program for Gulf of Mexico oil and gas producers.

Kerr-McGee Issues Earnings Report
Thursday, August 03, 2006Kerr-McGee Corp. announced Thursday that income from continuing operations for the 2006 second quarter of $306 million ($1.33 per diluted common share) compared with $256 million ($.90 per share) for the 2005 second quarter.

Anadarko Wins Antitrust Clearance for Kerr-McGee Acquisition
Tuesday, August 01, 2006Anadarko Petroleum Corp. on Tuesday said that its proposed acquisition of Kerr-McGee Corp. has achieved U.S. antitrust clearance.

Anadarko Nets $814M in Second Quarter
Friday, July 28, 2006Anadarko Petroleum Corp. reported that its second-quarter 2006 net income available to common shareholders totaled $814 million, or $1.76 per share (diluted).

Schlumberger Announces Second-Quarter 2006 Results
Friday, July 21, 2006Schlumberger Limited on Friday reported second-quarter 2006 operating revenue of $4.69 billion versus $4.24 billion in the first quarter of 2006 and $3.43 billion in the second quarter of last year.

W&T Offshore Prices Public Offering
Friday, July 21, 2006W&T Offshore, Inc. said that it has priced its previously announced public offering of its common stock at $32.50 a share. A total of 8.5 million shares are being sold by the company.

Kerr-McGee Declares Quarterly Dividend
Wednesday, July 12, 2006The Kerr-McGee Corp. board on Tuesday declared a quarterly dividend of 3.125 cents per share of common stock for the quarter ending Sept. 30, 2006.

Anadarko to Divest Canadian LNG Terminal Project
Monday, July 10, 2006Anadarko Petroleum Corp. has agreed to sell Bear Head LNG Corp., a wholly owned subsidiary that is developing a liquefied natural gas (LNG) receiving terminal at Point Tupper, N.S.

Independence Hub Hull Arrives
Friday, July 07, 2006Atlantia Offshore reports that its DeepDraft Semi for the Independence Hub development has arrived in Ingleside, Texas.

Kerr-McGee, U.S. to Mediate Royalty Relief
Friday, June 30, 2006Kerr-McGee Corp. on Friday announced that it has agreed with the U.S. Department of the Interior to undertake efforts to mediate the disagreement over royalty relief under the Deep Water Royalty Relief Act of 1995.

Anadarko to Divest Canadian Subsidiary
Thursday, June 29, 2006Anadarko Petroleum Corp. plans to sell its wholly owned subsidiary, Anadarko Canada Corp., as part of its portfolio refocusing efforts related to the recently announced agreements to acquire Kerr-McGee Corp. and Western Gas Resources, Inc.

Anadarko in Deal to Acquire Kerr-McGee & Western Gas Resources
Friday, June 23, 2006Anadarko Petroleum has agreed to acquire Kerr-McGee and Western Gas Resources, Inc. in separate all-cash transactions totaling $21.1 billion, plus the assumption of debt estimated at $2.2 billion.

Fitch Assigns Ratings to Anadarko, WGS, and Kerr-McGee
Friday, June 23, 2006Fitch Ratings has placed the following ratings of Anadarko Petroleum Corp. on Rating Watch Negative after this morning's announcement that it is acquiring Kerr-McGee Corp. and Western Gas Resources in separate transactions.

Chevron, Shell Say They'll Renegotiate Leases
Wednesday, June 21, 2006Oil executives testifying before a House panel investigating Interior Department oil and gas leases that give producers breaks on fees worth up to $10 billion disagreed on whether their industry needs "royalty relief."

U.S. House Staff Memo Hints at Interior 'Cover-up' on Royalties
Monday, June 19, 2006A House staff investigation is looking at whether Interior Department officials pursued a "cover-up" to hide discrepancies related to Gulf of Mexico oil and gas royalty waivers, according to a staff memo obtained by E&E Daily.

Kerr-McGee Executes Previously Announced Stock Split
Wednesday, June 14, 2006Common shares of Kerr-McGee were distributed to the company's shareholders today as part of the company's planned two-for-one stock split that was announced earlier.

Stone Energy Strikes Oil at Bohai Bay Well
Friday, June 09, 2006Stone Energy says that its first well drilled in Bohai Bay, China encountered potential oil pay in two separate intervals.

Kerr-McGee Announces Promotions
Tuesday, June 06, 2006Kerr-McGee Corp. announced the promotions of Terence Jupp to vice president of international exploration and production, Frank Patterson to vice president of exploration and technology and Greg Jewell to director of Gulf of Mexico exploration.

Total Takes Stake in Four Deepwater Exploration Blocks Offshore Australia
Wednesday, May 24, 2006Total has signed two agreements to participate in the exploration of four offshore blocks situated to the northwest of Australia.

Still Reeling, Energy Companies Brace for Another Storm Season
Thursday, May 18, 2006With the clock running down ahead of the start of hurricane season, U.S. Gulf of Mexico oil and gas producers are relying more on faith - rather than operational improvements - to spare them from devastation this time around.

Kerr-McGee Makes Back-to-Back Deepwater Discoveries
Wednesday, May 17, 2006Kerr-McGee has made another discovery in the deepwater Gulf of Mexico at the Caesar prospect. The Caesar #1 well, located in Green Canyon block 683 was drilled to a total depth of 29,721 feet and encountered quality oil pay.

Kerr-McGee Increases Dividend 25%; Declares Two-for-One Stock Split
Wednesday, May 10, 2006The Kerr-McGee board of directors increased the company's quarterly dividend 25%, from 5 cents per share to 6.25 cents per share of common stock on a pre-split basis.

Kerr-McGee Increases Production Estimates and Expands Capital Program
Tuesday, May 09, 2006Kerr-McGee approved additional capital for the 2006 program, which the company expects to have an immediate positive impact on production growth through 2008.

Kerr-McGee Makes Deepwater Gas Discovery in the Gulf of Mexico
Monday, May 08, 2006Kerr-McGee has made a natural gas discovery in the deepwater Gulf of Mexico at its Claymore prospect in Atwater Valley 140. The well was drilled to a total depth of approximately 25,000' and encountered more than 150' of net pay in multiple zones.

Kerr-McGee Says Strong Operating Results Validate Strategy
Thursday, May 04, 2006Kerr-McGee reports preliminary income from continuing operations for the 2006 first quarter of $276 million ($2.39 per diluted common share), compared with $243 million ($1.51 per share), for the 2005 first quarter.

SADR Government Welcomes Kerr McGee's Withdrawal
Thursday, May 04, 2006The SADR government welcomes the news regarding the recent decision by Kerr McGee to end its involvement in Western Sahara.

Kerr-McGee Restarts Red Hawk Platform
Wednesday, April 26, 2006Kerr-McGee says it has begun to restart the Red Hawk platform in the Gulf of Mexico, which has been idled since Hurricane Katrina last August.

J. Ray Celebrates 50 Years at Morgan City
Thursday, April 13, 20061956: Elvis released his first album; the film debut of Invasion of the Body Snatchers was frightening American audiences; My Fair Lady opened on Broadway; and J. Ray McDermott began operations at its Morgan City, La. "fab yard."

Enterprise Reports Initial Flows on Constitution Pipelines
Wednesday, April 12, 2006Enterprise Products Partners said Wednesday that it has received initial flows of crude oil and natural gas into its Constitution oil and natural gas pipelines from the Constitution and Ticonderoga fields in the Gulf of Mexico.

CNOOC Establishs Presence in Outer Browse Basin in Australia
Monday, April 03, 2006CNOOC Limited has signed Farm-in Agreements with BHP Billiton and Kerr-McGee for Exploration Permits WA-301-P, WA-303-P, WA-304-P and WA-305-P in the Outer Browse Basin of Australia.

Kerr-McGee Completes Separation of Tronox
Friday, March 31, 2006Kerr-McGee has completed its divestiture of titanium dioxide producer Tronox Incorporated.

Kerr-McGee Begins Production at Deepwater Constitution Field
Thursday, March 30, 2006Kerr-McGee reports that its 100%-owned Constitution field in the deepwater Gulf of Mexico achieved initial production on March 27, from the field's first dry-tree well.

GAO Study Predicts Up to $80B in Lost Royalties
Wednesday, March 29, 2006Companies that drill in the Gulf of Mexico will cost the federal government at least $20 billion over the next 25 years, according to the draft of a Government Accountability Office report obtained yesterday.

Kerr-McGee Names McCaslin Managing Director of Brazil Operations
Thursday, March 23, 2006Kerr-McGee has named Kurt McCaslin managing director of its Brazil operations. McCaslin is responsible for development of the shallow-water Chinook field offshore Brazil.

Kerr-McGee Sues Interior Over 'Royalty Relief'
Tuesday, March 21, 2006The Kerr-McGee Corp., which produces oil and gas in the Gulf of Mexico, has filed a federal lawsuit challenging the Interior Department's right to collect royalty payments on certain deepwater leases.