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General Interest 2001 P8

  • 07/19/2001 -- Energy companies report robust second quarter results
    While some large energy companies won't report second quarter results until next week, most gas and power marketers wrapped up the second quarter by largely exceeding analysts expectations. Most were buoyed by good returns in the wholesale electricity market. But some were hurt by drought in the Pacific Northwest.
  • 07/05/2001 -- New Power acquires AES Power Direct
    Continuing the consolidation in the retail electricity business, New Power Co., a unit of NewPower Holdings Inc., said it will acquire AES Power Direct, the retail marketing arm of AES Corp. New Power will also acquire CoEnergy, a unit of DTE Energy Co., with customers and natural gas inventory related to the Columbia Gas of Ohio and Dominion East Ohio gas customer choice programs.
  • 07/16/2001 -- Atofina implements petchem expansion strategy to reduce costs
    Atofina's chairman and CEO Francois Cornelis says the company will spend 1.5 billion euros this year to expand its petrochemical, polymers, and specialty businesses.
  • 07/06/2001 -- Selling CO2 sequestration
    At a well-attended, if small scale, industry conference held recently in London, BP PLC CO2 Program Director Gardiner Hill gave delegates an update of progress on a nine-company collaborative project to develop technology for the capture and geological storage of carbon dioxide.
  • 06/26/2001 -- Transportation news briefs, June 26
    BC Gas Utility ... El Paso Natural Gas ... OCP ... Maine Natural Gas ... Williams ... Dominion Transmission
  • 06/05/2001 -- Transportation news briefs, June 5
    Hornbeck-Leevac Marine Services ... Spentonbush/Red Star Group ... Amerada Hess ... PetroChina ... ExxonMobil China Gas Pipeline ... Iroquois Pipeline Operating
  • 06/28/2001 -- Shell, El Paso plan LNG terminal for Mexico's East Coast
    Shell Gas & Power, a group of companies owned by Royal Dutch/Shell Group, and El Paso Global LNG, a subsidiary of El Paso Corp., will jointly develop a liquefied natural gas regasification terminal at Altamira, Tamaulipas state, on Mexico's east coast.
  • 06/25/2001 -- Anadarko offers $137 million for Gulfstream Resources
    Anadarko Petroleum Corp., Houston, has agreed to acquire Gulfstream Resources Canada Ltd., Calgary, for $137 million (US). Anadarko is offering $2.65/share (Can.) in cash. Gulfstream has been fighting off an offer by Roc Oil Co. Ltd., Sydney, of $1.10/share (Can.) in cash.
  • 06/20/2001 -- Valero integrates operations at two Corpus Christi refineries
    Less than a month after taking possession of the El Paso Corp. refinery in Corpus Christi, Tex., through a $436 million lease-purchase deal, Valero Energy Corp. officials are making some low-cost moves to integrate its operations with their existing refinery nearby.
  • 06/19/2001 -- Hunt Oil to acquire Chieftain International for $600 million
    Hunt Oil Co., Dallas, has agreed to acquire Chieftain International Inc., Edmonton, Alta., for $600 million, or about $915 million (Can.). This is the most recent of several Canadian acquisition attempts for privately held Hunt Oil.
  • 06/18/2001 -- Fire and explosion racks liquids pumping station in South Australia
    The South Australian Cooper Basin Producers joint venture has suspended oil production because an explosion and fire racked a liquids pumping station at the Moomba gas-processing complex, Santos Ltd. reported Monday. The Saturday accident killed one worker and left the liquids processing plant inoperable.
  • 06/14/2001 -- Maritimes & Northeast to double capacity of gas line from Sable Island
    Westcoast Energy Inc., Vancouver, says the company and partners will invest $1 billion (Can.) to double the size of the Maritimes & Northeast Pipeline (M&NP). The line moves 530 MMcfd of gas from the Sable Island region off Nova Scotia to markets in New England and Atlantic Canada.
  • 06/11/2001 -- Douglas-Westwood forecasts $38 billion deepwater market 2001-2005
    Within 5 years, 26 companies have deepwater prospects totaling 20.7 billion bbl of oil equivalent, energy analysts Douglas-Westwood Ltd. and offshore data specialists Infield Systems reported Monday during a conference in New York. Deepwater capital expenditures are forecast at more than $10 billion in 2005.
  • 06/04/2001 -- Analysts say Valero lease deal for Corpus Christi refinery key move
    Valero Energy Corp., San Antonio, Tex., has agreed to lease -- with purchase options -- El Paso Corp.'s 115,000 b/d Corpus Christi, Tex., refinery. Valero plans to integrate the refinery with its existing plant nearby to create the fifth largest US refinery.
  • 06/15/2001 -- Qatar Petroleum and ExxonMobil plan GTL feasibility study
    Qatar Petroleum and ExxonMobil Corp. Friday announced plans to conduct a technical feasibility study for a gas-to-liquids (GTL) plant in Qatar. The proposed plant would convert North field gas into liquids products. The study will provide information on the use of ExxonMobil's proprietary AGC-21 technology in the GTL plant.
  • 06/27/2001 -- Devon Energy may buy back up to $1 billion of stock
    Devon Energy Corp., Oklahoma City, said Wednesday its board has authorized the repurchase of up to $1 billion in shares of its common stock. Under the program, stock will be bought from time to time depending upon market conditions, either in the open market or in privately negotiated transactions.
  • 06/22/2001 -- Finance/Companies news briefs, June 22
    Columbia Gas Transmission ... Plains Resources ... EnCap Investments ... Kayne Anderson Energy Fund ... Regent Energy ... Westdeutsch Landesbank Girozentrale ... TNK-Ukraina ... Abraxas Petroleum ... Grey Wolf Exploration ... Infinity ... Nova Technology Fund ... and more
  • 06/21/2001 -- Penn Virginia buying Synergy Oil & Gas for $112 million
    Penn Virginia Corp. Radnor, Pa., said Thursday it would buy Synergy Oil & Gas Inc., Houston, for $112 million in cash. By July 1, Synergy will have reserves of 59.2 billion bcf equivalent, about 55% of which is gas and 45% is oil. Production is 12 MMcfd and 1,200 b/d, or 19.2 MMcfd equivalent, primarily in West Texas and the Texas onshore Gulf Coast.
  • 06/14/2001 -- El Paso to buy Velvet Exploration
    El Paso Corp., Houston, has agreed to buy Canadian E&P company Velvet Exploration Ltd. in a $280 million (US) transaction. In 2000, Velvet produced 8,195 boe/d, based on a 6:1 ratio.
  • 06/11/2001 -- Finance/Companies news briefs, June 11
    Trico Marine Services ... Benton Oil & Gas ... Schlumberger ... Baker Jardine & Associates ... Olympia Energy ... Bridgetown Energy ... Original Media ... Alco Oil & Gas ... Legato Resources ... Herenca Operating ... Magnum Hunter Resources ... Ascent Energy ... and more

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