Junior

To take advantage of falling service costs and the expectation of higher natural gas prices, Calgary-based junior Compton Petroleum Corp. has set a course to triple its gas-directed drilling in the Western Canadian Sedimentary Basin for the rest of the year.

Houston-based junior exploration and production company Dune Energy Inc. said last week it agreed to acquire Goldking Energy Corp. for $320.5 million in cash and stock. Goldking holds a diversified mix of oil and gas properties spread over some 65,000 net acres.

Houston-based junior exploration and production company Dune Energy Inc. said Wednesday it agreed to acquire Goldking Energy Corp. for $320.5 million in cash and stock. Goldking holds a diversified mix of oil and gas properties spread over some 65,000 net acres.

Maverick Oil and Gas Inc., a junior independent based in Dallas, is selling its interests in some Barnett Shale properties in Wise County, TX, to an undisclosed buyer for $22.5 million. About $20 million of the proceeds will be used to repay outstanding debt. Maverick now will look for assets with near-term cash flow to support the company’s operations and to complement its long-term resource play in the Fayetteville Shale of Woodruff County, AR, according to CEO James A. Watt. Maverick has about 125,000 acres in the Fayetteville Shale.

Junior exploration and production company Dune Energy Inc. said Friday it will spend $32.8 million to acquire 2,457 gross acres on the Barnett Shale fairway in Denton County, TX from Voyager Partners Ltd. Dune had earlier purchased $31.8 million of Voyager’s Barnett properties. The two-part agreement will add 2,457 more gross acres to Dune’s portfolio. The assets are estimated to contain proved reserves totaling 29.9 Bcfe plus probable reserves totaling 16.1 Bcfe. The acquisition cost is about $109/Mcfe for the proved reserves, and 71 cents/Mcfe for the proved plus probable reserves. Dune purchased $7 million of Voyager’s remaining properties last Tuesday. The agreement Friday provides that the balance of Voyager’s assets, totaling $25.8 million, be acquired by Dune on or before Jan.19. Dune said its obligation to purchase the remaining assets is subject to financing.

Halifax, NS-based junior exploration and production company Corridor Resources Inc. applied to the New Brunswick Public Utilities Board (PUB) to construct and operate a pipeline connecting the McCully natural gas field in New Brunswick with Maritimes & Northeast Pipeline in order to bring McCully gas to the Maritimes provinces and New England.

Houston-based junior independent Petrohawk Energy Corp. said Wednesday it will pay $261.67 million in cash for two packages of natural gas reserves in the Elm Grove and Caspiana fields of northern Louisiana. The two private transactions, with an effective date of Jan. 1, 2006, are 98% natural gas, and include an estimated 106 Bcfe of proved reserves and 100 Bcfe of probable and possible reserves.

Denver-based junior independent Delta Petroleum Corp. on Tuesday announced a stock merger agreement with long-time partner Castle Energy Corp., whose CEO died in August.

SignalEnergy Inc., a junior independent based in Alberta, said it has acquired Predator Exploration Ltd. and an undisclosed private oil and gas company. The all-share deal is worth about C$21.9 million for both companies, including the assumption of debt. Predator’s assets include natural gas properties in British Columbia and western Alberta. SignalEnergy said when the deal is completed, its production rate will increase 240%. SignalEnergy’s exploration focus is in Alberta, in Twining, Ferrier and Carrot Creek. The transactions are expected to be completed before the end of the year.