Junior oil sands exploration firm Southern Pacific Resources Corporation (STP:TSX) recently released 1Q12 results which showed that its production averaged 3,784 barrels per day (bbl/d) and cash flow of C$10.7 million or C$0.03 per share.

Surge Energy (SGY:TSVX) recently announced that it has drilled a horizontal well located at Valhalla South in Western Alberta which yielded five-day test rates of 1,992 barrels of oil equivalent per day.

Canaccord Genuity reiterated its BUY rating and C$14.50 target share price for Birchcliff (BIR:TSX) after the exploration and production company announced that it had initiated a formal sales process.

With all of the attention that has been focused on the Bakken in North Dakota and the Marcellus shale in the Mid-Atlantic, it is easy to forget that California is one of the top oil producing states in America.

For the week ending October 7, the number of U.S. rigs used for drilling related to natural gas and crude oil increased surpassed 2,000 for the first time since the week ending September 19, 2008.

Pennsylvania Governor Tom Corbett intends to both stimulate the state’s economy and preserve the state's environment, he announced in implementing several suggestions advocated by the Marcellus Shale Advisory Commission.

Activity related to the Tyler Formation is spilling from North Dakota to South Dakota, amid industry speculation that the play could contain significant crude reserves.

Canadian brokerage firm Canaccord Genuity announced on October 6 that it was reiterating its BUY recommendation and and target share price of C$2.75 for junior oil and gas company Compass Petroleum Ltd. (CPO:TSXV).