Bright

Exploration and production (E&P) spending continues to look bright for the rest of 2007 — but most of the gains will come outside North America, according to a mid-year report by Lehman Brothers.

Domestic onshore natural gas drilling is on the rise, and the U.S. supply picture should be a bright spot, with production growing slightly less than 1 Bcf/d in the next couple of years. However, the onshore drilling gains have been “largely offset” by modest weakness in offshore production, lower Canadian imports and the continuing long-term trend of increasing exports to both Canada and Mexico, according to a top energy analyst.

Consumer input in decision making, mandatory power reliability standards, coordinated regional planning and clearly established jurisdictional bright lines between federal and state regulators are crucial elements in ensuring that the nation’s future electricity needs are met, a new report issued by a diverse group of power sector stakeholders brought together by the Consumer Energy Council of America (CECA) concludes.

Standing out as a bright spot of corporate morality, the team formed at KeySpan Corp. of CEO Robert Catell and Corporate Ombudsman Kenny Moore show how a company can be successful by operating the right way. The story of the unlikely duo, which pairs a large company CEO with a former monk, is told in a new book: “The CEO & The Monk, One Company’s Journey to Profit and Purpose.”

Money is flowing back into the exploration and production (E&P) business in Houston “like Niagara Falls,” and the curse that Enron left on the merchant energy business is beginning to dissipate. Investment banks clearly don’t want it ever to return again, according to energy analyst John Olson of Houston-based Sanders Morris Harris.

Money is flowing back into the exploration and production (E&P) business in Houston “like Niagara Falls,” and the curse that Enron left on the merchant energy business is beginning to dissipate. Investment banks clearly don’t want it ever to return again, according to energy analyst John Olson of Houston-based Sanders Morris Harris.

Future oil production from the Gulf of Mexico (GOM) appears bright, and while natural gas production from the shallow waters is declining at an alarming rate, deepwater finds may hold great promise for new reserves, the regional director of the Minerals Management Service (MMS) told a Houston audience last week.

Future oil production from the Gulf of Mexico (GOM) appears bright, and while natural gas production from the shallow waters is declining at an alarming rate, deepwater finds may hold great promise for new reserves, the regional director of the Minerals Management Service (MMS) told a Houston audience this week.

News that Amerada Hess would buy Dallas-based independent Triton Energy Ltd. was one of the few bright spots on the New York Stock Exchange last week, with Triton’s stock soaring nearly 50% following the announcement last Tuesday, opening at $14.57 and closing at $44.43. New York-based Amerada Hess, one of the East Coast’s largest gasoline retailers, said it will pay $3.2 billion in a cash deal that will position it as one of the largest global independent E&P companies. It also agreed to assume $500 million of Triton’s debt.