Apache Corp., which had planned to sell about $4 billion worth of assets by the end of the year, accomplished that goal and more last week after agreeing to sell Gulf of Mexico (GOM) Outer Continental Shelf operations and properties, and the asset retirement obligations, to a Riverstone Holdings affiliate for $5.25 billion total.
Articles from Accomplished
Majors and national oil companies (NOC) are about to go shopping again, and their most likely targets are companies such as Anadarko Petroleum Corp., EOG Resources Inc., Whiting Petroleum Corp., Kodiak Oil & Gas Corp. and Forest Oil Corp., Wells Fargo Securities analysts said in a note last week.
An advisory panel formed by Maryland Gov. Martin O’Malley will recommend that the state’s General Assembly impose a severance tax on natural gas production and a fee on gas leases, with the resulting revenue to be dedicated “to address impacts of gas exploration and production on the environment and natural resources” and to fund studies of issues related to the Marcellus Shale, according to a draft report by the state’s Marcellus Shale Safe Drilling Commission.
Sempra Energy and the Mexican government have accomplished what California has been unable to do in siting Sempra’s Energia Costa Azul liquefied natural gas (LNG) receiving terminal along the Pacific Coast of North Baja California, Mexico, Timothy Alan Simon told his fellow commissioners at the California Public Utility Commission (CPUC) Thursday.
In their first regular session as prompt month, April natural gas futures accomplished something the March contract failed to do its entire run at the front, which is break convincingly below entrenched support around the psychological $7.00 area. The prompt month ended up settling 52.4 cents lower than Friday at $6.789, setting a nine-month low. The July 2005 contract settled exactly at $6.789 on June 1, 2005.
Noting that there is much that remains to be accomplished, Riverton, WY-based U.S. Energy Corp. and its Crested Corp. subsidiary said Wednesday that their joint subsidiary, Rocky Mountain Gas Inc. (RMG) has made “notable progress” towards its stated goal of becoming a significant coalbed methane (CBM) producer in the Rocky Mountain region.
“Storm hype” was billed as the overriding reason for Friday’scontinuation of this week’s price increases that accomplished whathardly anbody thought possible: bring some points back to eitherside of September indexes. The new gains defied the usual weekenddemand slump, growing complacency about finishing storage injectionseason comfortably, a mostly negative screen and cool, autumn-likeweather in many major market areas. In wide-ranging trading,influenced largely by a similarly volatile futures contract, mostcash points ranged from barely up to as much as 15 cents higher.The majority of the gains tended to be on either side of a dime.
Although still a novice in the electricity market, ColumbiaEnergy Group accomplished something that a number of seasonedveteran traders failed to do when power prices in the Midwest shotup last June – it made a profit, says Chairman Oliver “Rick”Richard. He declined, however, to reveal the amount.