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The new CEO of Quantum Resources Management LLC said Monday the coming months likely will offer “tremendous” opportunities for energy sector investment.

The newest of the five California Public Utilities Commission (CPUC) regulators, Timothy Alan Simon, with the usual safety and environmental qualifiers, came out last Tuesday strongly in favor of a liquefied natural gas (LNG) terminal being sited in California, and for natural gas being viewed as a key component of what he termed the “blue bridge to a new green economy,” giving it equal standing with energy efficiency and renewable energy resources — the state’s two mandated top energy choices.

The newest of the five California Public Utilities Commission (CPUC) regulators, Timothy Alan Simon, with the usual safety and environmental qualifiers, came out Tuesday strongly in favor of a liquefied natural gas (LNG) terminal being sited in California, and for natural gas being viewed as a key component of what he termed the “blue bridge to a new green economy,” giving it equal standing with energy efficiency and renewable energy resources — the state’s two mandated top energy choices.

XTO Energy Inc. has completed its $4.2 billion acquisition of privately held Hunt Petroleum Corp. and has updated its natural gas and oil hedges through 2010. Hunt, which agreed to the transaction in June (see NGI, June 16), sold XTO total estimated proved reserves of 1.05 Tcfe, 62% proved developed. Production was estimated at 197 MMcf/d of gas, 8,500 b/d of oil and 2,300 b/d of natural gas liquids. XTO paid Hunt $2.6 billion in cash and provided about 23.5 million shares of XTO common stock. About 70% of the acquired properties are in East Texas and in central and northern Louisiana where XTO has stepped up its exploration activities. Another 28% of the reserves, both onshore and offshore, are along the Gulf Coast of Texas, Louisiana, Mississippi and Alabama. Nonoperating interests, reflecting more than 300,000 net acres of potential in the North Sea and the balance of proved reserves, also were conveyed in the deal. In addition, XTO gained about 15,000 net acres of leasehold in the Bakken Shale region of North Dakota. In conjunction with the transaction XTO added gas and oil hedges through 2010. For gas XTO hedged through December 1.45 Bcf/d at $8.79/Mcf.; total gas equivalent hedged through December is 1.75 Bcfe/d at $10.06/Mcfe. XTO hedged 1.185 Bcf/d at $9.59/Mcf for 2009; total gas equivalent hedged is 1.515 Bcfe/d at $11.97/Mcfe. And for 2010 XTO hedged 300 MMcf/d at $9.50/Mcf; total gas equivalent hedged is 450 MMcfe/d at $13.57/Mcfe.

California Gov. Arnold Schwarzenegger Thursday named Timothy Alan Simon, a financial industry lawyer/professor, to fill the fifth seat on the California Public Utilities Commission (CPUC). The seat had been vacant since the end of last year when the term of another lawyer, Geoffrey Brown, expired. The six-year appointment is subject to state Senate confirmation.

Former Federal Reserve Chairman Alan Greenspan coined his famous phrase “irrational exuberance” in late 1996; what followed — albeit a few years later — was the dot-com bust. Now, nearly a decade later Greenspan’s prescient commentary is being applied to the exploration and production (E&P) industry.

Former Federal Reserve Chairman Alan Greenspan coined his famous phrase “irrational exuberance” in late 1996; what followed — albeit a few years later — was the dot-com bust. Now, nearly a decade later Greenspan’s prescient commentary is being applied to the exploration and production (E&P) industry.

Despite “concerns” expressed by the Treasury Department and Federal Reserve Chairman Alan Greenspan over natural gas provisions in the measure, the House, by a voice vote Wednesday, passed legislation that reauthorizes the Commodity Futures Trading Commission (CFTC) and strengthens the ability of the agency to crack down on manipulation in natural gas markets.

Federal Reserve Chairman Alan Greenspan may need a refresher course on natural gas supply issues because he’s been way off the mark in recent public speeches, including one last week to the National Petrochemical and Refiners Association’s International Petrochemical Conference, the American Public Gas Association (APGA) said on Tuesday.