Brothers

Oil and natural gas companies will increase 2005 spending on exploration and production (E&P) by 5.7% on average, according to a survey unveiled by Lehman Brothers last week. Worldwide expenditures are expected to reach $176.8 billion from $167.3 billion this year, according to the survey of 327 companies.

Oil and natural gas companies will increase 2005 spending on exploration and production (E&P) by 5.7% on average, according to a survey unveiled by Lehman Brothers Monday. Worldwide expenditures are expected to reach $176.8 billion from $167.3 billion this year, according to the survey of 327 companies.

Oil and natural gas companies will increase 2005 spending on exploration and production (E&P) by 5.7% on average, according to a survey unveiled by Lehman Brothers Monday. Worldwide expenditures are expected to reach $176.8 billion from $167.3 billion this year, according to the survey of 327 companies.

Lehman Brothers analyst Thomas Driscoll predicts that the cumulative amount of Gulf of Mexico gas production that may end up being deferred because of Hurricane Ivan could total 80-120 Bcf. There were indications on Monday that shut-in amounts could stabilized around 2.3 Bcf/d of gas and 480,000 bbl/d of oil until repairs to offshore pipelines and production facilities can be completed.

With its energy trading unit now sold, Entergy-Koch LP retained Lehman Brothers last week to coordinate offers to sell subsidiary Gulf South Pipeline Co. LP. The Houston-based pipeline is jointly owned by Entergy Corp. and Koch Industries Inc., and is part of the companies’ overall plan to disband their partnership.

With its energy trading unit now sold, Entergy-Koch LP retained Lehman Brothers to coordinate offers to sell subsidiary Gulf South Pipeline Co. LP. The Houston-based pipeline is jointly owned by Entergy Corp. and Koch Industries Inc., and is part of the companies’ overall plan to disband their partnership.

With completed natural gas production numbers for 45 North American producers, Lehman Brothers analyst Tom Driscoll said Friday that second quarter U.S. natural gas production fell an estimated 4.8% or 2.3 Bcf/d to 45.2 Bcf/d from year-ago levels of 47.5 Bcf/d, and 0.4% sequentially from the first quarter. Even with stronger Canadian gas output, North American volumes fell an estimated 2.9% to 62 Bcf/d from 63.9 Bcf/d a year ago. One standout, however, are liquefied natural gas (LNG) imports into the Lower 48, which jumped an estimated 25% over 2Q2003 from 1.4 Bcf/d to 1.7 Bcf/d.

Lehman Brothers on Thursday boosted its outlook on the oil and gas sector, raised its forecast for several individual energy stocks and increased its price predictions for both oil and gas through 2005.

Lehman Brothers on Thursday boosted its outlook on the oil and gas sector, raised its forecast for several individual energy stocks and increased its price predictions for both oil and gas through 2005.