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Energy Briefing: Acquisitions, Earnings & Production News - PetroTech Oil & Gas, Transocean, Chesapeake Energy, Kodiak Oil &

 Energy Briefing: Acquisitions, Earnings & Production News - PetroTech Oil &
      Gas, Transocean, Chesapeake Energy, Kodiak Oil & Gas, Halliburton

PR Newswire

CORAL SPRINGS, Florida, October 23, 2013

CORAL SPRINGS, Florida, October 23, 2013 /PRNewswire/ --

Leading energy sector news updates for today's market movers in the news:
PetroTech Oil and Gas, Inc. (OTC: PTOG), Transocean Ltd. (NYSE: RIG),
Chesapeake Energy Corporation (NYSE:CHK), Kodiak Oil & Gas Corp. (NYSE: KOG)
and Halliburton (NYSE: HAL).

PetroTech Oil and Gas, Inc. (OTC: PTOG) Headline: PetroTech Oil and Gas
Acquires Oil and Gas Lease in NowataOklahoma. PetroTech Oil and Gas, Inc.
(OTC: PTOG) Announces the acquisition of an 80-acre lease in Nowata, Oklahoma
along with their partner CAVU Resources Inc. The lease know as the Brown lease
has 12 existing oil and gas wells and one disposal well that PetroTech and
Cavu Resources, has begun reworking. The project is an expected $400,000
investment with over $175,000 committed to date, with an expected first five
wells on line within 30 days, and the balance of the 7 wells online by mid
December, and a plan to have all wells producing anywhere from 270 Barrels per
month to 600 Barrels per month, with revenue of $27,000.00 to $60,000.00 per
month. Added with 4 gas wells, which will bring in an additional $4000.00 a
month. Located in Nowata County, Oklahoma, this project is situated on the
Northeastern edge of the Northeast Oklahoma Shelf, which has proven to be
prolific in coal bed methane gas since it was developed beginning in the early
1990's. PETROTECH OIL AND GAS properties are surrounded by leases operated by
some of the major players in the field such as Newfield Exploration,
Mid-Continent, Inc. (NYSE: NFX), Energy Quest Resources and Endeavor Energy.
This area of northeastern Oklahoma has an extensive drilling history
extending back to the early 1900's.

Read the full press release athttp://www.fnmprofiles.com/profiles-ptog.php

PTOG Commentary: "We are excited having acquired this initial 80 acre project
with another 480 acres targeted on the area. We expect immediate results on
the reworked wells. We also plan to test an opportunity in the Mississippi
and Woodford zones. These well could initial flow 50 to 60 barrels a day with
at least 6 drilling locations spotted on our lease. We estimate the minimum
oil produced from existing wells to be 20 barrels a day with another 300mcf of
gas a day. We continue to look for undervalued opportunities to increase
PETROTECH OIL AND GAS assets and income base." Stated Eddie Schilb, President.

Transocean Ltd. (NYSE: RIG) will replace Dell Inc. (DELL) in the S&P 500 after
the close of trading on Monday, October 28. Founder Michael Dell and Silver
Lake Partners are acquiring Dell in a deal expected to be completed soon
pending final conditions. RIG provides offshore contract drilling services for
oil and gas wells. Headquartered in Zug, Switzerland, the company will be
added to the S&P 500 GICS (Global Industry Classification Standard) Oil & Gas
Drilling Sub-Industry index. RIG closed up over 5% on heavy volume of 17.3
Million shares traded by market close on Monday (10/22/13)

Chesapeake Energy Corporation (NYSE: CHK) engages in the acquisition,
exploration, development, and production of natural gas and oil properties in
the United States. The company also offers marketing, midstream, drilling, and
other oilfield services. RIG closed up slightly volume of 10.8 Million shares
traded by market close on Monday (10/22/13)

Kodiak Oil & Gas Corp. (NYSE: KOG), an oil and gas exploration and production
company with primary assets in the Williston Basin of North Dakota, announced
preliminary unaudited operational and financial results for the third quarter
ended September 30, 2013 and provided a Williston Basin operations update. To
read the full report please go to:
http://finance.yahoo.com/news/kodiak-oil-gas-corp-announces-120000420.html

Halliburton (NYSE: HAL) announced that income from continuing operations for
the third quarter of 2013 was $745 million, or $0.83 per diluted share,
excluding restructuring charges of $38 million, after-tax, or $0.04 per
diluted share. This compares to income from continuing operations for the
second quarter of 2013 of $677 million, or $0.73 per diluted share, excluding
a $35 million charge, after-tax, or $0.04 per diluted share, related to a
charitable contribution to the National Fish and Wildlife Foundation. Reported
income from continuing operations for the third quarter of 2013 was $707
million, or $0.79 per diluted share. Reported income from continuing
operations for the second quarter of 2013 was $642 million, or $0.69 per
diluted share. Read the full release at
http://finance.yahoo.com/news/halliburton-announces-third-quarter-income-110000032.html

In other energy sector news, Energy XXI (NASDAQ: EXXI) provided an operations
update, including production and recent exploration and development results.
During the company's fiscal first quarter ended Sept. 30, 2013, production
averaged approximately 46,600 barrels of oil equivalent per day (BOE/d), with
oil production averaging approximately 29,700 barrels per day (Bbl/d). QEP
Resources, Inc. (NYSE: QEP) was another energy play leading the way by closing
up over 5% on above average volume trading 7.2Million shares.

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