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Oklahoma City-based Devon Energy Corp., which stands to become the largest independent when it completes its acquisitions of two North American producers, saw its third-quarter earnings decline from last year, posting $90 million, or 69 cents per share, compared with earnings of $165 million or $1.27 per share a year ago. Mitchell Energy & Development Corp., one of Devon’s acquisitions, also reported lower quarterly earnings and now plans to reduce its active Texas drilling program.

Oklahoma City-based Devon Energy Corp., which stands to become the largest independent when it completes its acquisitions of two North American producers, saw its third-quarter earnings decline from last year, posting $90 million, or 69 cents per share, compared with earnings of $165 million or $1.27 per share a year ago. Mitchell Energy & Development Corp., one Devon’s acquisitions, also reported lower quarterly earnings and now plans to reduce its active Texas drilling program.

Salt Lake City-based Questar Corp. went out to bid earlier this month on four new compressors to complete its conversion work on the east-of-California portion of its 705-mile Southern Trails Pipeline from the San Juan Basin to the Long Beach port area of Southern California. The portion of the converted oil pipeline between the California border and the Four Corners Area in New Mexico will open June 1 next year, a Questar spokesman said.

Salt Lake City-based Questar Corp. went out to bid earlier this month on four new compressors to complete its conversion work on the east-of-California portion of its 705-mile Southern Trails Pipeline from the San Juan Basin to the Long Beach port area of Southern California. The portion of the converted oil pipeline between the California border and the Four Corners Area in New Mexico will open June 1 next year, a Questar spokesman said Monday.

Oklahoma City-based Chesapeake Energy Corp. last week revealed it has sold its Canadian subsidiary, with approximately 175 Bcfe of proved reserves, to an unnamed “large Canadian energy producer,” for $150 million. It expects to record a pre-tax gain of about $35 million in the fourth quarter as a result of the transaction.

Oklahoma City-based Chesapeake Energy Corp. on Tuesday revealed it has sold its Canadian subsidiary, with approximately 175 Bcfe of proved reserves, to an unnamed “large Canadian energy producer,” for $150 million. It expects to record a pre-tax gain of about $35 million in the fourth quarter as a result of the transaction.

In the wake of recent terrorist attacks on Washington, DC, New York City and an airliner that crashed in Pennsylvania, issues related to the security of the nation’s energy infrastructure came to the fore at a hearing last Thursday on Capitol Hill. Several members of Congress made it clear that they stand ready to craft legislation designed to meet possible threats to the transmission grid, pipelines and other key sectors of the energy industry.

In the wake of last week’s terrorist attacks on Washington, DC, New York City and an airliner that crashed in Pennsylvania, issues related to the security of the nation’s energy infrastructure came to the fore at a hearing Thursday on Capitol Hill. Several members of Congress made it clear that they stand ready to craft legislation designed to meet possible threats to the transmission grid, pipelines and other key sectors of the energy industry.

Kansas City, MO-based Aquila Inc. said on Monday that its Radius Group has released its latest risk management product, Risk180(SM), which provides clients with full-service management of their commodity transactions delivered daily, weekly or monthly via the Internet.