Burlington

North Carolina Bill Backs Review of Shale Gas Laws, Offshore Drilling

North Carolina lawmakers are considering a bill that would authorize a review of existing onshore shale gas laws and create a framework for possible new state regulation, as well as allow offshore natural gas drilling and create a compact with neighboring states.

April 28, 2011

Deepwater Lower Tertiary Holds Prospect for Significant Reserves

It will take years to develop, but industry observers are watching what may be the most significant discovery in the Gulf of Mexico (GOM) deepwater to date. The discovery was announced last week by Chevron Corp., Devon Energy Corp. and Statoil ASA after the trio completed the deepest extended drill stem test in history, with a successful production test on the Jack No. 2 well at Walker Ridge Block 758.

September 11, 2006

CreditSights: E&P 3Q Results ‘Positive’ Overall; Some Surprises

Burlington Resources Inc., Anadarko Petroleum Corp., Devon Energy Inc. and Sunoco posted the “biggest earnings surprise” in the third quarter, with earnings 15-28% higher than expected, followed by ConocoPhillips, EOG Resources Inc. and Occidental Petroleum Corp. in the 13-14% range, according to a new report by CreditSights analysts.

December 1, 2003

CreditSights: E&P 3Q Results ‘Positive’ Overall; Some Surprises

Burlington Resources Inc., Anadarko Petroleum Corp., Devon Energy Inc. and Sunoco posted the “biggest earnings surprise” in the third quarter, with earnings 15-28% higher than expected, followed by ConocoPhillips, EOG Resources Inc. and Occidental Petroleum Corp. in the 13-14% range, according to a new report by CreditSights analysts.

November 26, 2003

Lehman: Gas Production Decline Could Force Industrial Cutbacks

A 2-3% decline in North American natural gas production may be forcing industrial and utility consumers to reduce gas consumption this year, according to a report by Lehman Brothers.

October 8, 2003

Pemex Multiple-Service Contracts Generate Interest Worldwide

Royal Dutch/Shell, Exxon Mobil Corp., ChevronTexaco, Burlington Resources Inc. Petrobras and Schlumberger are but a few of the 75 foreign companies that have expressed an interest in the long-term natural gas production contracts officially unveiled by Mexico’s state-run oil monopoly last week. The first agreements are expected to be offered in November, officials said (see NGI, June 17).

June 24, 2002

First Round of Bidding On El Paso Flops

El Paso Natural Gas last week said it awarded only a smallfraction of the 1.35 BBtu/d of soon-to-be available firm capacityon its system to one shipper — Williams Energy Marketing andTrading — following its recent open season. “There were no bigwinners,” noted El Paso President Richard Baish. The pipelinerejected the majority of shipper bids because they failed to meetthe “minimum revenue threshold” requirements for the capacity.

October 11, 1999

NM Allows Closer Well Spacing in the San Juan

Burlington Resources (BR) announced that its plan for 80-acrein-fill drilling of the Mesaverde Formation in the San Juan Basinof New Mexico has been approved by the New Mexico Oil ConservationDivision. The 80-acre well spacing order could open up anadditional 7,000 drilling locations in the San Juan and be a majorfactor contributing to production growth in the basin over the nextfew years, according to basin analyst George Lippman, who hasstudied the San Juan for the last 30 years. To date, BR has drilled38 Mesaverde 80-acre in-fill wells and plans to drill 50 additionalwells in 1999.

March 5, 1999