Gazprom and Shell Finalize Sakhalin II Deal
[Europe & Russia] -- Sakhalin Energy Investment Company has signed a sale and purchase agreement with Gazprom to trigger the transfer of shares in Sakhalin Energy.

Udall, Enviros Want Oil Shale Development Slowed Down
[United States] -- Rep. Mark Udall and environmental groups are on the same page when it comes to curbing the Bureau of Land Management's ability to approve commercial oil shale leases next year: They want to revoke the authority.

From Ethanol to Polar Bears: Energy Summit Wraps Up in Venezuela
[South America] -- The first South American Energy Summit ended Tuesday with agreements to create a regional energy council and to re-baptize a fledgling effort at continental integration.

Venezula to Only Recognize Book Value in Orinoco Deals
[South America] -- Venezuelan Oil Minister Rafael Ramirez said the country only plans to recognize the book value of four extra-heavy oil projects when compensating foreign firms for the investments they have made.

Questerre Reports New Pool Discovery at Vulcan
[Canada] -- Questerre Energy Corp. announced a new pool discovery with an exploration well in the Vulcan area of Southern Alberta.

Perenco Expands Interest in Southern North Sea
[North Sea] -- Perenco has signed agreements with ExxonMobil to acquire the shares of Superior Oil (U.K.) Limited and certain assets of Mobil North Sea Limited in the UK sector of the Southern North Sea.

Kuwait Energy Keen to Spend $45M in Pakistan
[Southern Asia] -- Kuwait Energy wants to conduct oil and gas exploration activities in Pakistan.

Maxim to Participate in High Island Well
[Gulf of Mexico] -- Maxim Resources has entered into an Agreement with Emperor World Trading to acquire an undivided 20% working interest and a 10% net revenue interest in and to the 115 B-1 well and the High Island Block oil and gas leases.

Aker Kvaerner to Deliver Process Systems to MODEC
[Europe & Russia] -- Aker Kvaerner has signed a contract with MODEC International LLC for delivery of process modules for a floating production facility (FPSO).

Woodside Facing Opposition to Browse LNG Plan
[Austral-Asia] -- Australia's Woodside Petroleum Ltd. (WPL.AU) is facing opposition from environmentalists to its plan for liquefied natural gas from the Browse field to be processed using an offshore plant.

Santos to Start Producing from Indonesia's Oyong Block
[Austral-Asia] -- Santos Pty Ltd said it will start producing offshore oil and gas reserves at the Oyong Block off Madura in East Java.

Wood Group Wins Major Shell U.K. Contract
[Europe & Russia] -- Wood Group Engineering (North Sea) Ltd has been appointed by Shell U.K. Limited to provide engineering design, maintenance, support and construction management services.

GeoResources Completes Southern Bay, Chandler Mergers
[United States] -- GeoResources, Inc. has closed the mergers (collectively, "the Merger") with Southern Bay Oil & Gas L.P. and Chandler Energy, LLC after receiving all required shareholder approvals.

Hyperdynamics: PSC Still at Guinea's National Assembly
[West Africa] -- Hyperdynamics Corp. reported Wednesday that an official statement by the National Assembly of the Republic of Guinea confirmed that the company's 2006 Production Sharing Contract (PSC) remains at the Assembly.

Saxon, Milestone Form Sunflower State Alliance
[United States] -- Saxon Oil Co. Ltd. has formed a strategic alliance with Wichita, Kan.-based Milestone Energy, LLC to pursue energy-related activities in Kansas.

Leni Farms into Offshore Malta Blocks
[Mediterranean/N. Africa] -- Leni Gas & Oil plc ("LGO" or the "Company") has signed a farm-in agreement with Malta Oil Pty. Limited ("MOL"), a subsidiary of Mediterranean Oil & Gas PLC ("MOG"), to acquire an initial 20% interest in four oil and gas exploration blocks.

Husky Reports 24% Jump in Q1 Earnings
[Canada] -- Husky Energy Inc. reported net earnings of $650 million or $1.53 per share (diluted) in the first quarter of 2007, an increase of 24% from $524 million or $1.24 per share (diluted) in the same quarter of 2006.

Delta Announces Common Stock, Concurrent Convertible Senior Notes Offerings
[United States] -- Delta Petroleum Corp. has commenced an offering of 6,200,000 shares of common stock and a separate offering of $100 million aggregate principal amount of convertible senior notes due 2037.

Range Prices Common Stock Offering
[United States] -- Range Resources Corp. has priced a public offering of 7.0 million shares of its common stock at a price to the public of $36.28 per share, which was the last sales price reported on the NYSE Tuesday. All shares are being sold by Range.

Cimarex Prices $350M of Senior Notes
[United States] -- Cimarex Energy Co. has sold $350 million of 7.125% senior notes that will mature May 1, 2017.