Boosts

Rising commodity prices, cash flow and improving financial results have prompted Apache Corp. to plan a 20% dividend increase and another stock split. The company’s share price rose 1% on the news on Friday to $67.16.

Rising commodity prices, cash flow and improving financial results have prompted Apache Corp. to plan a 20% dividend increase and another stock split. The company’s share price rose 1% on the news on Friday to $67.16.

Saying it boosts liquidity, Standard & Poor’s Ratings Services gave a thumbs up to San Jose, CA-based Calpine Corp.’s decision last Thursday to create another Canadian natural gas trust surrounding a chunk of its oil/natural gas holdings in Western Canada. S&P said that Calpine expected to receive about $125 million in net proceeds from selling units in the trust, for which it will retain 25% ownership and a right to buy all of the gas at market prices.

Canada’s National Energy Board (NEB) approved new tolls for TransCanada PipeLines’ Mainline for this year that include slightly lower charges in TransCanada’s Eastern Zone but an increase in the minimum bid floor price for interruptible transportation service to 110% of firm from 80%, to provide an incentive for shippers to sign up for firm capacity.

Record second quarter natural gas production of 631 MMcf/d, a 26% increase from the same period a year ago, have led Fort Worth-based XTO Energy Inc. to increase its gas production projections through the remainder of 2003, the company said Tuesday. The company reported second quarter revenues and operating income about 50% above the same quarter last year.

Record second quarter natural gas production of 631 MMcf/d, a 26% increase from the same period a year ago, have led Fort Worth-based XTO Energy Inc. to increase its gas production projections through the remainder of 2003, the company said Tuesday. The company reported second quarter revenues and operating income about 50% above the same quarter last year.

Canadian producer CanScot Resources Ltd. said last Monday its U.S. subsidiary, Tika Energy Inc., has significantly increased its working interest in certain prospective coalbed methane (CBM) lands within the Power River Basin in northeastern Wyoming. It acquired an additional 53.3% working interest in lands situated in the Big Bend area of Johnson County, WY, for an estimated $800,000 (US).

Canadian producer CanScot Resources Ltd. said Monday its U.S. subsidiary, Tika Energy Inc., has significantly increased its working interest in certain prospective coalbed methane (CBM) lands within the Power River Basin in northeastern Wyoming. It acquired an additional 53.3% working interest in lands situated in the Big Bend area of Johnson County, WY, for an estimated $800,000 (US).

Operating cash flow, combined with cash on hand and available credit, is expected to be more than enough to cover Dynegy Inc.’s scheduled spending over the next 12 months, and with that knowledge, Moody’s Investors Service on Thursday assigned the company a speculative grade liquidity rating of SGL-1. Moody’s SGL is a short-term rating system for speculative grade issuers that are, by definition, “not prime,” and are assigned on a scale from SGL-1 (very good) to SGL-4 (weak).