Claim

Public Utility District (PUD) No. 1 of Snohomish County, WA, has asked FERC to exercise its exclusive jurisdiction and declare Enron Power Marketing Inc.’s claim for a “termination payment” of $117 million invalid.

Its claim to fame may be heavy oil production, but Calgary-based Husky Energy Inc. also is strengthening its upstream portfolio, announcing last week that it may consolidate through acquisitions or sales to improve its production output in the Western Canada Sedimentary Basin (WCSB).

Its claim to fame may be heavy oil production, but Calgary-based Husky Energy Inc. also is strengthening its upstream portfolio, announcing Monday that it may consolidate through acquisitions or sales to improve its production output in the Western Canada Sedimentary Basin (WCSB).

After three years of 3-D seismic mapping, Mexico’s Petroleos Mexicanos (Pemex) engineers claim to have discovered several oil and natural gas deposits in the deep waters of the Gulf of Mexico that could double the country’s total reserves and boost output to rival other world-class producers.

Wyoming once again can lay claim to the title of largest natural gas producer in the Rocky Mountains after setting a new production record in 2003. The state’s gas output exceeded 1.85 Tcf last year, up 4.3% over the 1.76 Tcf set a year earlier, propelled by the growing number of coalbed methane (CBM) wells.

Wyoming once again can lay claim to the title of largest natural gas producer in the Rocky Mountains after setting a new production record in 2003. The state’s gas output exceeded 1.85 Tcf last year, up 4.3% over the 1.76 Tcf set a year earlier, propelled by the growing number of coalbed methane (CBM) wells.

It wasn’t much, but prices could claim a bit more weather support than they had last week in recording upticks Monday ranging from only a penny or two to about 15 cents. Gains were fairly evenly spread across geographic markets.

Marathon Oil Corp. said last week that it is planning a corporate restructuring that will claim 265 jobs but will lead to cost savings of about $65 million/year. However, it will have to take a $40 million pre-tax charge, 40% of which will come in the third quarter. Most of the job reductions are expected to be at its Houston headquarters and in its U.S. production unit and will take place before the end of the year.

Marathon Oil Corp. said Thursday it is planning a corporate restructuring that will claim 265 jobs but will lead to cost savings of about $65 million/year. However, it will have to take a $40 million pre-tax charge, 40% of which will come in the third quarter. Most of the job reductions are expected to be at its Houston headquarters and in its U.S. production unit and will take place before the end of the year.