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General Interest 2005 P9

  • 12/15/2005 -- Wentworth Energy buys Utah oil sands leases
    Wentworth Energy Inc., Forth Worth, acquired 1,900 acres of oil sand leases in Utah's Asphalt Ridge oil sands region. The properties are 3.5 miles southwest of Vernal.
  • 12/15/2005 -- Shell's capital budget for 2006 up 27%
    Royal Dutch Shell PLC reported a 2006 capital expenditure budget of $19 billion, a 27% increase over its 2005 budget.
  • 12/14/2005 -- Edge Petroleum increases capital budget 15%
    Edge Petroleum Corp. approved an initial 2006 capital expenditure program of $110 million, a 15% increase over 2005, excluding acquisitions.
  • 12/14/2005 -- Industry, government address MODU reliability issues
    Offshore oil and gas producers and drilling contractors are advancing their work with the federal government to address mooring reliability issues raised by recent Gulf of Mexico hurricanes.
  • 12/14/2005 -- MARKET WATCH
    Natural gas futures price soars to new high

    Natural gas prices leaped to new heights as the front-month contract closed above $15/MMbtu Dec. 13 on the New York Mercantile Exchange.
  • 12/13/2005 -- MARKET WATCH
    Energy prices rebound with cold weather, supply worries

    Crude futures prices jumped Dec. 12 to the highest level in more than a month in the New York market as another winter storm moved toward the Northeast US.
  • 12/13/2005 -- Suez executives swap positions
    Suez LNG NA Pres. and Chief Executive Rick Grant will swap positions with Regional Manager and Chief Executive of Suez Global LNG Clay Harris, who will in turn become president and chief executive of Suez LNG. Both changes are effective in January.
  • 12/13/2005 -- Nexen plans record capital spending in 2006
    Nexen Inc. plans a record $2.9 billion (Can.) in capital projects in 2006 with 45% of it allocated for major development projects. The 2006 plan is $100 million more than the 2005 budget.
  • 12/13/2005 -- World Bank funding up for small investors, renewables, gas
    New figures in the World Bank's extractive industries portfolio show increased financing for small and local investors, renewable and natural gas industry lending, and transparency initiatives to reduce corruption, according to leaders of the multilateral lending institution's oil, gas, mining, and chemicals department.
  • 12/12/2005 -- CERA: Crude production capacity to grow 25% in 10 years
    Not only is the world not running out of oil soon, but widespread development of unconventional resources will boost global crude production capacity by 25% in the next 10 years, a representative of Cambridge Energy Research Associates, an IHS company, told a US House of Representatives subcommittee hearing.
  • 12/12/2005 -- MARKET WATCH
    Energy prices fall in profit-taking before weekend

    Energy prices fell Dec. 9 in profit-taking ahead of the weekend as traders seemed confident about supply in a current US cold snap.
  • 12/09/2005 -- Geocan Energy hires vice-president, exploration
    Geocan Energy Inc., Houston, has named Rick Musial as vice-president, exploration.
  • 12/09/2005 -- Canada independent names Armenia country manager
    Transeuro Energy Corp., Vancouver, BC, has appointed Mike Smith as country asset manager for Armenia.
  • 12/09/2005 -- MARKET WATCH
    Gas futures prices hit record highs

    Natural gas futures prices hit record highs Dec. 8 in the New York market as a storm that dumped as much as 10 in. of snow on Midwest plains roared eastward.
  • 12/09/2005 -- Survey: Global E&P outlays to rise 'materially' in '06
    Worldwide exploration and production expenditures are likely to rise "materially" in 2006, Lehman Bros. said in its annual E&P Spending Survey.
  • 12/09/2005 -- Magor, Manggal join Transeuro in Papua New Guinea
    Transeuro Energy Corp., Vancouver, BC, signed an integrated project management contract with High Arctic Energy Services LLC that retains Phil Magor as country asset manager for Transeuro's exploration of four blocks in Papua New Guinea.
  • 12/08/2005 -- Cohort Energy names Daley president
    Cohort Energy Co., a subsidiary of J-W Operating Co., Addison, Tex., named Gene C. Daley president. Daley succeeds Paul Westerman, who was promoted to chief operating officer.
  • 12/08/2005 -- Barriers seen to industry's use of digital technology
    Oil companies' growing use of digital technologies could boost world oil and gas reserves, but the industry must overcome barriers to gathering, managing, and sharing data, participants agreed at a recent roundtable discussion.
  • 12/08/2005 -- MARKET WATCH
    Crude stock build lowers prices

    Crude prices dropped Dec. 7 on news of a build in US oil inventories and indications that the cold front moving into the US Northwest may not be as severe as predicted.
  • 12/07/2005 -- Lawmakers: US should prepare for global oil flow peak
    While there is disagreement about when world crude oil production will hit its peak, the US should begin preparing for it now, two US House members told an Energy and Commerce subcommittee hearing on Dec. 7.

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