Activity

Benedict, KS-based Quest Resource Corp. announced Monday afternoon that it has acquired some natural gas-producing properties, gas gathering pipelines and a fleet of trucks and well service equipment, all of which are located in the southeast Kansas portion of the geological region known as the Cherokee Basin.

Following closely on the heels of Federal Reserve Chairman Alan Greenspan’s pro-LNG testimony before a House panel, Cheniere Energy Inc. said Friday that it has closed the formation of its partnership with BPU LNG, an affiliate of Sherwin Alumina, to build an LNG receiving facility on a site adjacent to the Sherwin Alumina plant in Corpus Christi, TX. The partnership was first announced in mid-May (see Daily GPI, May 16).

Following closely on the heels of Federal Reserve Chairman Alan Greenspan’s pro-LNG testimony before a House panel, Cheniere Energy Inc. said that it has closed the formation of its partnership with BPU LNG, an affiliate of Sherwin Alumina, to build an LNG receiving facility on a site adjacent to the Sherwin Alumina plant in Corpus Christi, TX. The partnership was first announced in mid-May (see NGI, May 19).

In another session marked by choppy trading activity, natural gas futures shuffled sideways Friday as bullish technicians and bearish analysts clashed in the court of industry opinion. And while each trading faction had its moments, little was resolved by Friday’s $6.51 close, which was down just 1.1 cents for the session and near the middle of the market’s wide $6.350-625 daily trading range.

The Minerals Management Service (MMS) said Wednesday that deepwater activity in the Gulf of Mexico last year was “significant” despite the general downturn in drilling, with 12 new deepwater discoveries — three at water depths greater than 8,000 feet.

The Minerals Management Service (MMS) said Wednesday that deepwater activity in the Gulf of Mexico last year was “significant” despite the general downturn in drilling, with 12 new deepwater discoveries — three at water depths greater than 8,000 feet.

In announcing its capital and exploratory spending program for 2003, ChevronTexaco Corp. said $2.2 billion of the allocated $8.5 billion will be spent on exploration, production, marketing and transportation infrastructure in the United States. The $8.5 billion figure includes $1.6 billion in affiliates’ expenditures.

Riverton, WY-based U.S. Energy Corp. and its Crested Corp. subsidiary said their joint subsidiary, Rocky Mountain Gas Inc. (RMG), has increased its coalbed methane activities in the Powder River Basin of northeastern Wyoming just in time to take advantage of higher gas prices.

Riverton, WY-based U.S. Energy Corp. and its Crested Corp. subsidiary said Wednesday that their joint subsidiary, Rocky Mountain Gas Inc. (RMG), has increased its coalbed methane activities in the Powder River Basin of northeastern Wyoming just in time to take advantage of higher gas prices.