Phillips Petroleum Co. reported yesterday that it replaced1,128% of its 2000 worldwide oil and natural gas production at anaverage preliminary finding-and-development (FD) cost of $2.39/Boe.Subtracting acquisitions and sales, the company still replaced 515%of its 2000 worldwide production.
1996
Articles from 1996
Cal-PX Ends Trading; Negotiations Continue
While California state officials continue to promise a workoutfor the state’s energy crisis, the California Power Exchange(Cal-PX), a mainstay of the state’s 1996 electric restructuring,announced it had shut down trading in its day-ahead market andwould close out day-of wholesale electricity markets by noon today.
E&P Programs Seeing the Money
The 2001 mantra of most North American exploration and production companies could be the oft-quoted line from the 1996 movie Jerry Maguire: “Show Me The Money!” Driven by the continued strong interest in North America and sustained high energy prices, both majors and independents have upped their capital spending budgets for the coming year. Most target domestic natural gas projects.
E&P Programs Seeing the Money
The 2001 mantra of most North American exploration andproduction companies could be the oft-quoted line from the 1996movie Jerry Maguire: “Show Me The Money!” Driven by the continuedstrong interest in North America and sustained high energy prices,both majors and independents have upped their capital spendingbudgets for the coming year. Most target domestic natural gasprojects.
High Prices, Alerts Continue in CA
The legislative architect of California’s 1996 precedent-settingelectric industry restructuring law Monday proposed a $2 billionreserve be carved out of the state’s next fiscal budget to fund astate effort to buy or build new generation plants. Theannouncement came at the same time the state energy commission,which approves all new power plants of 50 MW or larger, released alegislatively mandated report that concludes the state’s generationresources are adequate, and temporary peaking plants are not neededfor the upcoming summer.