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Devon Energy Corp., which is repositioning itself as a North American-only onshore producer, last week easily beat Wall Street’s profit forecasts for 4Q2009 and lifted estimated onshore proved reserves by a record amount in 2009, the Oklahoma City-based independent said.

Devon Energy Corp., which is repositioning itself as a North American onshore producer, easily beat Wall Street’s profit forecasts for 4Q2009 and lifted estimated onshore proved reserves by a record amount in 2009, the Oklahoma City-based independent reported Wednesday.

Devon Energy Corp., which is repositioning itself as a North American onshore producer, easily beat Wall Street’s profit forecasts for 4Q2009 and lifted estimated onshore proved reserves by a record amount in 2009, the Oklahoma City-based independent reported Wednesday.

Anadarko Petroleum Corp. has agreed to buy the majority of bankrupt San Antonio-based TXCO Resources Inc. Anadarko’s bid of as much as $310 million beat an earlier offer from Newfield Exploration Co.

Anadarko Petroleum Corp. has agreed to buy the majority of bankrupt San Antonio-based TXCO Resources Inc. Anadarko’s bid of as much as $310 million beat an earlier offer from Newfield Exploration Co.

California Gov. Arnold Schwarzenegger tried to beat back criticism early in June surrounding his proposal in last month’s fiscal revisions aimed at reversing the state’s worsening budget crisis by securing an additional $100 million of annual revenues for the state from the limited opening of drilling offshore Santa Barbara. Schwarzenegger’s proposal was tied to the dismantling of four existing offshore platforms in the area.

California Gov. Arnold Schwarzenegger tried to beat back criticism Monday of a proposal he made in last month’s fiscal revisions aimed at reversing the state’s worsening budget crisis by securing an additional $100 million of annual revenues from the limited opening of drilling offshore Santa Barbara. Schwarzenegger’s proposal was tied to the dismantling of four existing offshore platforms in the area.

Hurricane Dean’s westerly Gulf of Mexico-sparing course continued to beat the natural gas futures market lower for a second consecutive session as traders appeared ready to resume the downtrend that was interrupted two weeks ago by storm hype. The September contract put in a $5.770 low Tuesday before closing at $5.817, down 22.3 cents on the day.

With Hurricane Rita swirling through the Gulf of Mexico as a “strong hurricane” Friday afternoon, natural gas futures seemed to be marching to the beat of a different drummer. October natural gas explored lower during Friday’s regular session, settling at $12.324, down 46.6 cents on the day, but still $1.18 higher than the previous Friday’s close.