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General Interest 2000 P10

  • 06/23/2000 -- General Interest news briefs, June 23
    Suncor Energy � Conesta-Rovers & Associates � Chevron � Silicon Valley Oil Co. � Petroleum Heat & Power Co. ... Essential.com � BASF � Bayer � Dow � DuPont � Tricona/Celanese � National Petroleum Council
  • 06/21/2000 -- Energy companies make foray into broadband market
    The bandwidth and e-commerce markets remain largely untapped by energy companies, but utilities and some large energy players are making headway into both arenas, said broadband and energy industry officials speaking at the Banc of America Securities Energy Conference Tuesday in Houston. Analyst firms such as JP Morgan and Piper Jaffray Corp. are estimating a potential bandwidth market of $16-30 billion to as much as $500 billion or more in the next few years.
  • 06/13/2000 -- WPC: Canada's energy supplies still going strong
    Despite a history of more than 140 years in the petroleum industry, Canada is still touting its fossil fuel reserves and energy-friendliness. In Alberta in particular, it is not a sin for energy firms to make a profit or get ahead, says Steve West who recently left his post as the province's energy minister to become provincial treasurer. West was one of several speakers who praised the energy record and prospects of Alberta and Canada at the World Petroleum Congress Monday.
  • 06/09/2000 -- Sonatrach readying for Europe's liberalization
    Algerian state oil and gas firm Sonatrach is poised to jump on the band wagon of Europe's soon-to-be-liberalized gas market and is adapting its strategy accordingly, Sonatrach Chairman and CEO Abdelhak Bouhafs told a press conference at the World Gas Conference in Nice. The company is also pursuing international upstream partnerships.
  • 06/07/2000 -- Upstream sector to experience 'severe' personnel crunch
    After nearly 20 years of steadily eliminating jobs, upstream producers and service companies may not have the manpower to supply the world's growing demand for oil and gas, said officials of John S. Herold Inc. in a new industry study.
  • 06/01/2000 -- Lehman Bros: E&P firms make midyear expenditure increases
    A survey of exploration and production firms around the world has revealed that expected upstream spending for 2000 has risen since the first of the year. Lehman Bros. Inc. polled 326 firms for its analysis of midyear spending plans. The surveyed companies are planning on a 18.2% increase in worldwide E&P expenditures in 2000 vs. 1999, compared with the 10.2% rise that was expected last December.
  • 06/25/2000 -- PDVSA Gas, Enron near pact on Venezuela LNG plant
    PDVSA Gas, a unit of state oil corporation Petroleos de Venezuela SA, says it will soon sign an agreement with Houston-based Enron Corp. on a joint project to build a $600 million, 2.1 million tonne/year LNG plant at Jose in eastern Venezuela's Anzoategui state. The project was first announced in April (OGJ, Apr. 24, 2000, p. 21).
  • 06/30/2000 -- Chesapeake Energy agrees to acquire Gothic Energy
    Chesapeake Energy Corp., Oklahoma City, announced Friday that it will acquire Tulsa-based Gothic Energy Corp., in a stock swap valued at $345 million. The deal will create the 10th largest independent natural gas producer in the US, says Chesapeake. Chesapeake will acquire Gothic's 310 bcfe of reserves at a cost of $1.05/Mcfe.
  • 06/23/2000 -- India's Petronet LNG to allow foreign investment
    The directors of Indian state firm Petronet LNG Ltd. agreed to allow Qatar's Ras Laffan Liquefied Natural Gas Co. (RasGas) and Gaz de France each to acquire a 10% stake. The decision marks the beginning of India's efforts to open up gas imports, development, and distribution to foreign investment.
  • 06/15/2000 -- Chesapeake acquires US Midcontinent gas reserves
    Chesapeake Energy Corp., Oklahoma City, on Wednesday announced that it has acquired over the past several weeks estimated proved reserves of 33 bcf of natural gas in Oklahoma's Arkoma basin in three transactions with a combined value of $22 million.
  • 06/11/2000 -- Southern Ute Tribe invests in Contango Oil & Gas
    Contango Oil & Gas Co. on Friday announced that the Southern Ute Indian Tribe Growth Fund has invested $2.5 million in Contango, purchasing 2.5 million shares of the company's common stock at $1.00/share. Houston-based Contango also has granted the fund a 90-day option to purchase an additional 2.5 million shares at the same price. In addition, the fund agreed to purchase nearly 20% of Contango's oil and gas projects and proved properties.
  • 06/02/2000 -- Energy, utilility companies form e-commerce firm
    A consortium of 21 energy and utility companies has established Pantellos Corp., a new e-commerce company capitalized at $100 million and based in Houston. Scheduled to begin operation in the first quarter of 2001, the company will operate an independent internet marketplace for nonfuel energy services and goods purchases. A search is under way for a chief executive, said a spokesman for member company American Electric Power Co.
  • 06/30/2000 -- Arctic regions favored for Canadian gas exploration
    The Yukon and Northwest Territories in Canada�s Arctic are now the top locations favored by companies hunting large natural gas discoveries in Canada, according to an annual review by Arthur Andersen LLP. The survey says these areas, including offshore plays, are now favored over the provinces of Alberta and British Columbia, which now rank third and fourth, respectively.
  • 06/20/2000 -- Colombia's Guando field shaping up as major
    Canadian Occidental Petroleum Ltd., Calgary, on Monday said its partner Petrobras Colombia Ltd. has drilled a successful appraisal well on the Boqueron Block in Colombia. Preliminary estimates indicate original oil-in-place of at least 1.4 billion bbl of 30� gravity sweet crude, plus gas, says the firm. Recovery of at least 20% is expected with waterflood support for the reservoir.
  • 06/14/2000 -- Exploration/Development news briefs, June 14
    Cabot Oil & Gas � Talisman Energy � Summit North Sea Oil � Isramco � BG International ... Kerr-McGee ... Geocan Energy ... Unigeo AS ... Ceska Naftarska Spolecnost SRO ... Nippon Mitsubishi Oil
  • 06/07/2000 -- Brazil licenses 21 of 23 blocks in second open bid round
    In Brazil's second licensing round, held in Rio de Janeiro today, 44 companies competed for 23 blocks�10 onshore and 13 offshore�in nine Brazilian sedimentary basins. All but two blocks received bids in the round.
  • 06/06/2000 -- Exploration/development news briefs, June 6
    Cabot Oil & Gas � Palace Exploration � Forest Oil � Shell Canada ...OMV (Pakistan)
  • 06/05/2000 -- ExxonMobil makes yet another oil find off Angola
    A unit of ExxonMobil Corp. has made a deepwater oil discovery, its seventh oil find on Block 15 off Angola. The discovery well cut an oil-bearing reservoir that flowed 4,200 b/d of oil on test.
  • 06/28/2000 -- Electric Power news briefs, June 28
    ANR Pipeline Co. ... BP Amoco PLC ... Calpine Corp. ... Engage Energy US LP ... Southern Co. Energy Marketing ... Acetex Energy Holdings LLC ... CalEnergy ... Southwestern Energy Co.
  • 06/23/2000 -- Spark spread sends natural gas flying
    Natural gas prices continued to surge throughout the week with some experts predicting $5/MMbtu is not out of the question as competition between summer and winter needs intensifies. Gas for December delivery settled at $4.68/MMbtu Thursday on the New York Mercantile Exchange, which raised margins Friday for the second time in a month on its Henry Hub contract.
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