Attracts

After failing to attract any bids on two Burgos Basin blocks, Petroleos Mexicanos (Pemex) said two international groups are competing to develop non-associated natural gas reserves in the Fronterizo, one of the basin’s smaller blocks.

After failing to attract any bids on two Burgos Basin blocks, Petroleos Mexicanos (Pemex) said two international groups are competing to develop non-associated natural gas reserves in the Fronterizo, one of the basin’s smaller blocks.

The annual Central Gulf of Mexico lease sale, considered a leading barometer of the energy industry’s exploration and production efforts, drew a healthy response Wednesday in New Orleans, with the Minerals Management Service receiving bids totaling $505,468,501. The 547 blocks, located off the coasts of Louisiana, Mississippi and Alabama, drew bids from 90 companies – a 60% higher response than last year.

The annual Central Gulf of Mexico lease sale, considered aleading barometer of the energy industry’s exploration andproduction efforts, drew a healthy response Wednesday in NewOrleans, with the Minerals Management Service receiving bidstotaling $505,468,501. The 547 blocks, located off the coasts ofLouisiana, Mississippi and Alabama, drew bids from 90 companies – a60% higher response than last year.

From gas and power to clean air credits, bandwidth and plastics,you name it, and EnronOnline now sells it, but out of the plethoraof commodities now trading on the site worldwide, North Americannatural gas still tops the list of most actively traded.

The Internet e-commerce bandwagon rolled on yesterday with 15more riders. A consortium of 15 US electric and gas companies plansto launch an Internet marketplace for the energy industry and itssuppliers. The companies include American Electric Power, Cinergy,Consolidated Edison Inc., Duke Energy, Edison International,Entergy, FirstEnergy Corp., FPL Group, PG&E Corp., PublicService Enterprise Group, Reliant Energy, Sempra Energy, SouthernCompany, TXU and Unicom.

The purchase of the combined gas and electric utilityMidAmerican Energy by Berkshire Hathaway Inc., one of the nation’slargest and most successful investment groups led by legendaryinvestment guru Warren Buffett, could focus increased financialinterest on the industry.