StatoilHydro's Gulf of Mexico Output Doubles

Norway's StatoilHydro ASA Thursday said it has more than doubled its output from the U.S. Gulf of Mexico in the past few months, as the Thunder Hawk field comes onstream. Murphy Oil operated Thunder Hawk has a daily production capacity of 45,000 barrels of oil and 70 million cubic feet of natural gas. StatoilHydro company spokeswoman Mari Dotterud said StatoilHydro will have 70,000 barrels of oil equivalent a day net from the U.S. Gulf Of Mexico once Thunder Hawk.....Complete Story

BG Group Takes Billion Dollar Bite of US Shale

BG Group agreed to pay $1 billion for a stake in Dallas based Exco Resources Inc.'s shale gas properties in Texas and Louisiana, becoming the latest European oil major to move into U.S. unconventional natural gas. The deal follows similar moves by StatoilHydro ASA of Norway and the British oil major BP PLC, who both recently acquired interests in shale gas fields in the U.S., one of the hottest new hydrocarbon plays.....Complete Story