General Interest 2007 P

10/26/2007 -- MMS sells more than 91 bcf of RIK gas
The US MMS sold more than 91 bcf of gas it received from gulf offshore producers as RIK to nine high bidders, the DOI agency said Oct. 23.
10/25/2007 -- Gas Summit: Market changes could imperil gas supply, demand
The accelerating pace of change has brought a new dimension to supply and demand security, said participants at the 12th International Gas Summit in Paris Oct. 17-18.
10/25/2007 -- Lucas Energy acquires stake in Bonanza Oil & Gas
Lucas Energy acquired a 24.6% interest in Bonanza Oil & Gas, of which Lucas plans to immediately divest half of the shares in a transaction that will reduce Lucas's holdings in Bonanza to 12.3% interest.
10/25/2007 -- MARKET WATCH: Crude price rebounds above $87/bbl
The front-month crude futures contract jumped above $87/bbl again Oct. 24 after the US Department of Energy reported unexpected large drops in inventories of crude and petroleum products.
10/24/2007 -- BP cuts 350 UK North Sea onshore jobs
BP PLC said it will reduce the number of onshore staff and contractors working on its UK North Sea operations by 350 to improve efficiency and productivity.
10/24/2007 -- CFTC report urges expansion of oversight to exempt markets
The US Commodity Futures Trading Commission has requested oversight authority over some contracts and products in unregulated electronic trading venues known as exempt commercial markets.
10/24/2007 -- MARKET WATCH: Energy prices continue to crumble
Energy prices continued to crumble Oct. 23 amid indications that OPEC is boosting oil production to meet the Nov. 1 increase of 500,000 b/d that it agreed to Sept. 11 in Vienna.
10/23/2007 -- IFP: Oil equipment, services demand growth slows
Globally, oil field equipment and services have been in tight supply since 2005, but the demand growth rate is beginning to slow and may plateau in 2008, said officials at Institut Francais du Petrole (IFP).
10/23/2007 -- Canada's Crescent Point acquires Innova
Canada's Crescent Point Energy Trust said it has taken effective control of Innova Exploration Ltd.
10/23/2007 -- MARKET WATCH: Energy prices slip in second profit taking session
The expiring crude contract slipped in profit taking during a second consecutive session Oct. 22 as the US dollar rebounded against the euro but declined against the Japanese yen.
10/23/2007 -- XTO Energy acquires Barnett Shale producing properties
XTO Energy Inc. has acquired 24,000 net acres in the Barnett Shale from multiple parties for $550 million.
10/23/2007 -- GAO report: CFTC's regulatory reach should expand
US Congress should consider expanding CFTC's authority over energy derivatives trading, particularly in exempt commercial markets, GAO said in an Oct. 19 report.
10/23/2007 -- MLPs reemerging in US energy business
The market value of US energy MLPs has increased sevenfold in 8 years, reports Jon McCarter, a partner in Ernst & Young Transaction Advisory Services.
10/23/2007 -- West named vice-president at Petroglyph Energy
Petroglyph Energy Inc. and Intermountain Industries LP have named Bruce West vice-president of engineering and production.
10/22/2007 -- Russian court upholds Timan Oil & Gas plans
UK exploration firm Timan Oil & Gas said a Russian court upheld an extension to its E&P license for Nizhne-Chutinskoye oil field in the Timan Pechora region.
10/22/2007 -- MARKET WATCH: Energy prices slip in profit taking
Crude futures prices pulled back from a record $90/bbl high during profit taking Oct. 19, but many analysts expect prices to resume climbing.
10/19/2007 -- Gas industry, Senate Republicans express energy bill concerns
The American Petroleum Institute, Independent Petroleum Association of America, and seven other trade associations representing natural gas producers, pipelines, and consumers jointly expressed strong concern Oct. 19 about US House energy legislation that they believe would reduce instead of increase domestic gas supplies.
10/19/2007 -- Senate Democrats question continued crude oil purchases for SPR
Noting that crude oil prices have reached the $90/bbl range, seven US Senate Democrats asked Energy Secretary Samuel W. Bodman on Oct. 18 to suspend further purchases for the Strategic Petroleum Reserve.
10/19/2007 -- Ecuador seeks reinstatement in OPEC
Ecuador has formally requested reinstatement as a member of the Organization of Petroleum Exporting Countries (OPEC), according to official sources.
10/19/2007 -- MARKET WATCH: Crude futures price tops $90/bbl
For the first time ever, the near-month contract for benchmark crude passed $90/bbl in after-hours electronic trading Oct. 18 in New York.

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