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General Interest 2001 P12

  • 04/06/2001 -- Analyst: Expect high energy prices
    The US is running out of oil, natural gas, and electricity simultaneously, and higher energy prices are the only long-term solution, Marshall Adkins, Raymond James & Associates Inc. oil field analyst, said Friday. He estimates $29/bbl oil prices in the second half of the year with natural gas prices leveling out at $5-6/Mcf.
  • 04/27/2001 -- Canadian majors report strong first quarter
    Canadian majors reported strong first-quarter financial results, based on high natural gas prices and improved crude oil refining margins. Shell Canada, Imperial Oil, and Petro-Canada all reported improved cash flow from operations. The three also expect strong performance in the second quarter.
  • 04/26/2001 -- Anadarko, Apache, and Mitchell Energy report record earnings
    Three independents Thursday reported record first-quarter net earnings and strong cash flow from operations, which the companies attributed to high natural gas prices. Anadarko Petroleum Corp., Apache Corp., and Mitchell Energy & Development Corp. expect a strong second quarter.
  • 04/18/2001 -- Pioneer Natural Resources seeks merger with Parker & Parsley
    Pioneer Natural Resources Co., Dallas, has contacted the Securities and Exchange Commission proposing a merger between Pioneer, Pioneer Natural Resources USA Inc., and 46 Parker & Parsley limited partnerships. The merger would enable Pioneer to acquire additional interests in Spraberry field.
  • 04/11/2001 -- Shareholders approve Phillips' acquisition of Tosco
    Shareholders of Phillips Petroleum Co., Bartlesville, Okla., and Tosco Corp., Old Greenwich, Conn., Wednesday voted separately to approve Phillips� pending $7.5 billion stock acquisition of Tosco. Subject to regulators� approval, the deal is expected to close by the end of the third quarter.
  • 04/05/2001 -- Esso reviews French exploration following depletion cut
    Chairman and CEO of Esso Rep SAF Patrick Heinzle said his company is reconsidering French exploration following the government's move last November to slash the depletion allowance 95%. It posted 2000 profits of 53 million euros, up from 23 million last year. But production fell by 9% to 402,000 tonnes.
  • 04/04/2001 -- BP sells Tullow some of Thames-Hewett assets
    BP PLC has sold the first tranche of a 13-license UK southern North Sea field and pipeline asset package to British independent Tullow Oil PLC to resolve European Commission concerns over BP�s takeover of Atlantic Richfield Co. last April. The Thames Hewett package covers ARCO�s share in Thames, Hewett, and Welland fields and associated pipeline and terminal interests.
  • 04/25/2001 -- Exploration/Development news briefs, Apr. 25
    Statoil ... Victoria Exploration ... Centurion Energy International ... Goodrich Petroleum ... Burullus Gas ... Nexans SA ... Canadian Superior Energy ... Geophysical Service ... TGS-NOPEC ... WesternGeco � Carrizo Oil & Gas ... Perez Companc del Peru
  • 04/19/2001 -- Pluspetrol awards EIA contract
    Pluspetrol Peru Corp., Argentina, on behalf of the other partners in the Camisea development project, has selected Environmental Resources Management Group (ERM), UK, to perform three environmental impact studies.
  • 04/11/2001 -- Exploration/Development briefs, Apr. 11
    Meridian Resource � First International Oil � Rosneft � Itera Holdings � Falcon Energy Overseas � Potential Oil � Statoil � � Thai Shell Exploration & Production � Petro-Canada � Anderson Exploration � Conoco UK
  • 04/06/2001 -- Statoil spuds near Kristin in Halten Bank development bid
    The Transocean Arctic drill rig has spudded an exploration well on production license 257 in the Halten Bank area of the Norwegian Sea for Statoil AS, with a view to proving gas and condensate in the northern part of the Erlend structure. Results from the well, west of the high-pressure, high-temperature Kristin field, which straddles blocks 6506/11 and 6406/2, are expected to be key to the long-term development of this stretch of the Halten Bank.
  • 04/05/2001 -- Abraxas makes South Texas discovery
    Abraxas Petroleum Corp., San Antonio, Tex., tested a South Texas well at absolute open flow potential of 16 MMcfd of gas from the Wilcox formation. Dimon No. 1, in Muy Bueno field, is producing at a restricted rate.
  • 04/25/2001 -- El Paso reports record earnings before charges for Coastal merger
    With Coastal Corp. incorporated into operations, El Paso Corp. reported first quarter income before interest and taxes and adjusted for nonrecurring items of $1.09 billion, up 42% from $769 million in last year's comparable quarter. CEO Bill Wise said the company raised its 2001 earnings projections by 5¢ to $3.30/share.
  • 04/18/2001 -- Berry Petroleum ends cogen sales to utilities, seeks other customers
    Heavy oil producer Berry Petroleum Co. has shut its cogeneration plants and stopped sales to Southern California Edison Co. and Pacific Gas & Electric Co. for nonpayment of $27.1 million in bills. Oil production is falling because the cogeneration facilities are not making steam to maintain it.
  • 04/09/2001 -- Electric Power news briefs, Apr. 9
    Reliant Energy Power Generation � AES Corp. � Sempra Energy Trading � Risk Capital Management Partners LLC � Union Light, Heat & Power Co. � South Carolina Electric & Gas � Graninge AB � Narvarme Sverige AB � Norrtalje Energi AB � Tibco Software � Dynamis � Washington Suburban Sanitary Commission � Constellation Energy Source � Calpine Power America LP � Automated Power Exchange � Arthur D. Little � Banpu PLC � TotalFinaElf
  • 04/03/2001 -- CMS gets FERC go ahead for LNG expansion
    CMS Energy Corp. Tuesday said it received final approval from the federal government to boost its LNG capacity in Louisiana by 40% to 1 bcfd and is already evaluating further expansion to 1.3 bcfd. CMS's decision to add 300 MMcfd of gas capacity at its Lake Charles terminal comes during a flurry of announcements by companies looking to establish new US terminals, while gas producers struggle to keep up with demand and prices remain at record levels.
  • 04/07/2001 -- Anadarko Petroleum: The hunt is on
    Robert J. Allison Jr., Anadarko Petroleum Corp. chairman and CEO, says his company's goal is to increase reserves to 200 MMboe this year, up from 112 in 2000.
  • 04/19/2001 -- Drilling/Production briefs, Apr. 19
    First Nations ... Alberta Energy Co. ... Precision Drilling ... Transocean Sedco Forex ... Marathon Oil ... Statoil ... Procon Drilling Services ... PanCanadian Petroleum ... Ocean Rig
  • 04/20/2001 -- Hazy horizons off southern Europe
    Recent reports that the Portuguese government plans to open virgin tranches of deepwater acreage on the country's outer continental shelf to exploration license bidding next year-drilling could begin in 2004-will doubtless brighten the picture of otherwise low prospectivity being presently painted for Offshore Southern Europe.
  • 03/12/2001 -- Northern Border Partners acquiring Midwestern Gas Transmission from El Paso
    Northern Border Partners LP, Omaha, Monday announced a definitive agreement to purchase Midwestern Gas Transmission from El Paso Corp. The 350-mile interstate pipeline extends from Portland, Tenn., to Joliet, Ill.
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