OGJ NEWSLETTER

A depressed gas market continues to batter North American company operations beyond plunging first half earnings. Anticipating lower gas prices will persist for the foreseeable future, Nicor is cutting drilling outlays to focus only on projects consistent with the current market. Accordingly, it also will restructure and cut staff by about 30, closing its Tulsa office in the process and consolidating marketing activities in Houston and Denver. Because of the downturn, Nicor sees more