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Houston-based Noble Energy Inc., known for its success in the Gulf of Mexico deepwater, announced Thursday that it is acquiring Denver-based Patina Oil & Gas Corp., known for its success in the Rocky Mountains and Mid-Continent, in a $3.4 billion cash and stock deal. The combined company will have year-end 2003 proved reserves of 710 MMboe, weighted 63% to natural gas, with 55% of the total assets in the United States.

Houston-based Noble Energy Inc., known for its success in the Gulf of Mexico deepwater, announced Thursday that it is acquiring Denver-based Patina Oil & Gas Corp., known for its success in the Rocky Mountains and Mid-Continent, in a $3.4 billion cash and stock deal. The combined company will have year-end 2003 proved reserves of 710 MMboe, weighted 63% to natural gas, with 55% of the total assets in the United States.

In what Standard & Poor’s (S&P) says will become more common among the large energy companies, Sempra Energy was the second firm subjected to an accounting analysis to adjust the company’s reported financial results to get what S&P considers a more accurate set of financial ratios to adjust or affirm companies’ true credit risk. In Sempra’s case, the ratings were unchanged, staying at “BBB+” and at the “A” level for its two major utilities.

A day after announcing it would buy some natural gas-rich acreage in Colorado, Berry Petroleum Co. said Tuesday it has set up a joint agreement with Petro-Canada Resources (USA) Inc. to develop the Coyote Flats Prospect in the Uinta Basin of northeast Utah. Once a defined drilling program is finished, Berry would own half of the 72,000 undeveloped acres.

A day after announcing it would buy some natural gas-rich acreage in Colorado, Berry Petroleum Co. said Tuesday it has set up a joint agreement with Petro-Canada Resources (USA) Inc. to develop the Coyote Flats Prospect in the Uinta Basin of northeast Utah. Once a defined drilling program is finished, Berry would own half of the 72,000 undeveloped acres.

In what Standard & Poor’s (S&P) says will become more common among the large energy companies, Sempra Energy was the second firm subjected to an accounting analysis to adjust the company’s reported financial results to get what S&P considers a more accurate set of financial ratios to adjust or affirm companies’ true credit risk. In Sempra’s case, the ratings were unchanged, staying at “BBB+” and at the “A” level for its two major utilities.

In what Standard & Poor’s (S&P) says will become more common among the large energy companies, Sempra Energy was the second firm subjected to an accounting analysis to adjust the company’s reported financial results to get what S&P considers a more accurate set of financial ratios to adjust or affirm companies’ true credit risk. In Sempra’s case, the ratings were unchanged, staying at “BBB+” and at the “A” level for its two major utilities.

Range Resources said Tuesday it paid $219 million for an unnamed company with 205 Bcfe of Appalachian oil and gas reserves, 99% of which are natural gas and only 40% of which are developed. Range said the acquisition involves the legacy oil and gas assets of an eastern coal company that date back almost a century. More than 80% of the reserves are coalbed methane.

Range Resources said Tuesday it paid $219 million for an unnamed company with 205 Bcfe of Appalachian oil and gas reserves, 99% of which are natural gas and only 40% of which are developed. Range said the acquisition involves the legacy oil and gas assets of an eastern coal company that date back almost a century. More than 80% of the reserves are coalbed methane.