Questar to continue emphasis on gas development drilling

By the OGJ Online Staff

HOUSTON, Nov. 5 -- Questar Corp., Salt Lake City, said Monday it projects capital expenditures of $376 million in 2002, with continued emphasis on gas-development drilling and other nonregulated activities.

Questar, an integrated natural gas company, expects a record $987 million in capital expenditures in 2001, including $406 million in acquiring a privately held exploration and production company in July.

R.D. Cash, Questar chairman and CEO, said the 2001 and 2002 expenditures "will provide the catalyst for achieving our objective of consistent double-digit earnings growth over the next several years." Over the 2001-02 period, "We expect to spend 61% of capital expenditures for nonregulated opportunities with higher return potential, which is one of our primary strategies,"' Cash said.

He noted that the acquired exploration and production assets increased the company's nonregulated oil and gas reserves by almost 59% to 1.1 tcf equivalent, as of Sept. 30. In addition, the acquisition enhanced the company's significant inventory of drilling prospects.

Questar's 2002 capital-spending program anticipates $180 million in spending by the nonregulated Market Resources group. Most would go for oil and gas-development drilling, $143 million, and gas gathering and processing, $27 million. The budget includes $26 million for Wexpro Co., a subsidiary that develops gas owned by Questar's gas-distribution utility.

Questar's Regulated Services group, consisting of interstate gas transmission and retail gas distribution, projects 2002 expenditures of $165 million. The budget includes $55 million to expand the distribution system, $42 million for transmission and storage projects, and $35 million for partnerships and other projects.

Related Articles

Petrobras workers stage 24-hr strike

07/24/2015 Workers at beleaguered Petroleo Brasileiro SA (Petrobras) staged a 24-hr strike across Brazil to protest plans by the state-owned company to liquid...

ONGC Videsh unit drills horizontally in Russia’s Snezhnoye field

07/24/2015 Imperial Energy Corp. PLC, a subsidiary of ONGC Videsh Ltd., has drilled two horizontal wells in the Naunak formation of Snezhnoye field in the Tom...

EQT reports high IP from Utica dry gas well

07/24/2015 EQT Corp., Pittsburgh, said a deep, dry gas Utica well averaged 72.9 MMcfd with an average flowing casing pressure of 8,641 psi during a 24-hr deli...

Separate Murkowski bill addresses crude exports, OCS revenue sharing

07/24/2015 US Senate Energy and Natural Resources Committee Chair Lisa Murkowski (R-Alas.) introduced legislation that would end the ban on US crude oil expor...

Statoil’s Julius well discovers gas, condensate in King Lear area

07/23/2015 Statoil ASA said its Julius exploratory well, drilled in the King Lear area of the Norwegian North Sea, has discovered gas and condensate (OGJ Onli...

Post-sanctions Iran initially won’t shake markets up, executive says

07/22/2015 Iran’s resumption of oil and gas exports, once sanctions are lifted under the recently negotiated nuclear limits agreement, probably won’t flood gl...

BHP Billiton still interpreting deepwater Trinidad and Tobago seismic data

07/22/2015 BHP Billiton, the operator of all of the deepwater blocks awarded by Trinidad and Tobago, has said it will decide how many wells it will drill base...

BLM extends comment period for Colorado oil, gas project’s EA

07/21/2015 The US Bureau of Land Management has extended the comment period for a preliminary environmental assessment (EA) of a proposed oil and gas project ...

Geophysical surveys due onshore Tanzania

07/21/2015 Tanzania Petroleum Development Corp. has let a contract to CGG for geophysical surveys over two onshore areas in preparation for future licensing r...
White Papers

2015 Global Engineering Information Management Solutions Competitive Strategy Innovation and Leadership Award

The Frost & Sullivan Best Practices Awards recognise companies in a variety of regional and global...
Sponsored by

Three Tips to Improve Safety in the Oil Field

Working oil fields will always be tough work with inherent risks. There’s no getting around that. Ther...
Sponsored by

Pipeline Integrity: Best Practices to Prevent, Detect, and Mitigate Commodity Releases

Commodity releases can have catastrophic consequences, so ensuring pipeline integrity is crucial for p...
Sponsored by

AVEVA’s Digital Asset Approach - Defining a new era of collaboration in capital projects and asset operations

There is constant, intensive change in the capital projects and asset life cycle management. New chall...
Sponsored by

Transforming the Oil and Gas Industry with EPPM

With budgets in the billions, timelines spanning years, and life cycles extending over decades, oil an...
Sponsored by

Asset Decommissioning in Oil & Gas: Transforming Business

Asset intensive organizations like Oil and Gas have their own industry specific challenges when it com...
Sponsored by

Squeezing the Green: How to Cut Petroleum Downstream Costs and Optimize Processing Efficiencies with Enterprise Project Portfolio Management Solutions

As the downstream petroleum industry grapples with change in every sector and at every level, includin...
Sponsored by

7 Steps to Improve Oil & Gas Asset Decommissioning

Global competition and volatile markets are creating a challenging business climate for project based ...
Sponsored by
Available Webcasts


Driving Growth and Efficiency with Deep Insights into Operational Data

When Wed, Aug 19, 2015

Capitalizing on today’s momentum in Oil & Gas requires operational excellence based on a clear view of what your business data is telling you. Which is why nearly half* of oil and gas companies have deployed SAP HANA or have it on their roadmap.

Join SAP and Red Hat to learn more about using data to drive process improvements and identify new opportunities with the SAP HANA platform running on Red Hat Enterprise Linux. This webinar will also show how your choice of infrastructure impacts the performance of core business applications and your ability to achieve data-driven insights quickly and reliably.

*48% use SAP, http://go.sap.com/solution/industry/oil-gas.html

register:WEBCAST



On Demand

OGJ's Midyear Forecast 2015

Fri, Jul 10, 2015

This webcast is to be presented by OGJ Editor Bob Tippee and Senior Economic Editor Conglin Xu.  They will summarize the Midyear Forecast projections in key categories, note important changes from January’s forecasts, and examine reasons for the adjustments.

register:WEBCAST


Predictive Analytics in your digital oilfield - Optimize Production Yield and Reduce Operational Costs

Tue, Jul 7, 2015

Putting predictive analytics to work in your oilfield can help you anticipate failures, plan and schedule work in advance, eliminate emergency work and catastrophic failures, and at the same time you can optimize working capital and improve resource utilization.  When you apply analytic capabilities to critical production assets it is possible to reduce non-productive time and increase your yield.

Learn how IBM's analytics capabilities can be applied to critical production assets with the goal of reducing non-productive time, increasing yield and reducing operations costs.

register:WEBCAST


Cognitive Solutions for Upstream Oil and Gas

Fri, Jun 12, 2015

The oil & gas sector is under pressure on all sides. Reserves are limited and it’s becoming increasingly expensive to find and extract new resources. Margins are already being squeezed in an industry where one wrong decision can cost millions. Analyzing data used in energy exploration can save millions of dollars as we develop ways to predict where and how to extract the world’s massive energy reserves.

This session with IBM Subject Matter Experts will discuss how IBM Cognitive Solutions contribute to the oil and gas industry using predictive analytics and cognitive computing, as well as real time streaming for exploration and drilling.

register:WEBCAST


Emerson Micro Motion Videos

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected