Houston-based Anadarko Petroleum Corp., the largest independent in North America, is following the lead of other energy companies, announcing Monday it would reduce its capital spending this year $1 billion — down from the previously announced $3 billion — because of the downturn in the industry. The company also reduced its fourth quarter earnings forecast, saying it now expects to earn 25 cents a share; Thomson Financial/First Call analysts had predicted an average return of 36 cents.
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Articles from Budget
Comments Due on EIA Collection of Weekly Storage Data
Comments are due Friday (Jan. 4) on the Energy Information Administration’s emergency clearance request to the Office of Management and Budget (OMB) that would allow EIA to require weekly submissions of storage data so it can publish a storage survey report to replace the one currently issued by the American Gas Association (AGA).
January 4, 2002
Unocal’s Muni Producing Ahead of Schedule
Unocal’s Spirit Energy 76 unit has begun production on the Gulfof Mexico Muni discovery — ahead of schedule, under budget and ontarget to exceed 120 MMcf/d before the end of this year. Theoffshore Louisiana discovery, made only 10 months ago, has anestimated gross resource potential of 100 to 160 Bcf.
October 11, 2000
FERC ‘Impotent’ to Prevent Market Abuse, Staffer Says
In a daring move, a staff member of the Federal EnergyRegulatory Commission’s new office that monitors the electric andnatural gas markets has accused the Commission of being powerlessto monitor and correct abuses in the electricity industry.
June 19, 2000
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