EnCana Corp. threatened Friday to slash its 2008 capital investment in Alberta by 30-40%, or US$1 billion, if all of the recommendations contained in the Alberta Royalty Review Panel Report are adopted. Most of the cutbacks would affect the producer’s natural gas activity.
2008
Articles from 2008
Credit Crunch May Stifle Transmission, Distribution Spending
The North American gas transmission and distribution (T&D) industry looks healthy for the rest of this year and into 2008, but the credit crunch threatens to slow down capital spending and the acquisition market, according to Moody’s Investors Service.
EnCana May Cut Alberta Spending by $1B if Royalty Regime Enacted
EnCana Corp. threatened Friday to slash its 2008 capital investment in Alberta by 30-40%, or US$1 billion if the recommendations contained in the Alberta Royalty Review Panel Report are adopted. Most of the reductions would be in its natural gas activity.
Lehman Affiliate to Launch Louisiana Gas Hub
An affiliate of Lehman Brothers will launch a natural gas trading hub in northeastern Louisiana with service beginning in late 2008, the financial broker said Friday.
Lehman Affiliate to Launch Louisiana Gas Hub
An affiliate of Lehman Brothers will launch a natural gas trading hub in northeastern Louisiana with service beginning in late 2008, the financial broker said Friday.
People
Robert L. Nance, 71, senior vice president of St. Mary Land & Exploration Co. and CEO of subsidiary Nance Petroleum Corp., will retire in early 2008. In 1969 he founded Robert L. Nance and Associates in Billings, MT, the predecessor of Nance Petroleum. His company and St. Mary formed a partnership in 1991 to explore the Williston Basin, and eight years later Nance Petroleum became a St. Mary subsidiary. Nance was honored with the Wildcatter Lifetime Achievement Award in 1999 by the Independent Petroleum Association of Mountain States, the Chief Roughneck Award in 2002 by the Independent Petroleum Association of America and membership in the Rocky Mountain Oil and Gas Hall of Fame in 2004. Mark D. Mueller, vice president and general manager of Calgary-based Samson Exploration Ltd., will succeed Nance as regional manager of the Rocky Mountain region effective Nov. 5.
Constellation Energy Completes Cornerstone Acquisition
Constellation Energy subsidiary Constellation NewEnergy Gas Division (CNE Gas) has completed the acquisition of Cornerstone Energy Inc., creating one of the nation’s largest natural gas marketing companies.
Chevron’s Deepwater Tahiti Project Delayed
The $3.5 billion Tahiti project in the deepwater Gulf of Mexico, which was scheduled to ramp-up in mid-2008, will be delayed for an unknown period because of metallurgical problems discovered in the facility’s mooring shackles, Chevron Corp. said Thursday. Tahiti’s peak production is expected to be 125,000 b/d of oil and 70 MMcf/d of natural gas.
Chevron’s Deepwater Tahiti Project Delayed
The $3.5 billion Tahiti project in the deepwater Gulf of Mexico, which was scheduled to ramp-up in mid-2008, will be delayed for an unknown period because of metallurgical problems discovered in the facility’s mooring shackles, Chevron Corp. said Thursday. Tahiti’s peak production is expected to be 125,000 b/d of oil and 70 MMcf/d of natural gas.
Senate Appropriators Strike Provision on 1998-1999 Leases
The Senate Appropriations Committee Thursday struck a provision in a fiscal year 2008 spending bill that would have barred producers from bidding on future offshore leases unless they agreed to renegotiate the flawed 1998 and 1999 leases that they currently hold.