Completes

EnCana Corp. said last Wednesday it successfully completed its $2.2 billion cash tender offer for the outstanding common shares of Denver, CO-based independent producer Tom Brown Inc. The transaction, which also called for the assumption of $500 million in debt, quickly expands EnCana’s Rocky Mountain presence, with its total U.S. natural gas production to reach 1 Bcf/d.

EnCana Corp. said Wednesday it has successfully completed its $2.2 billion cash tender offer for the outstanding common shares of Denver, CO-based independent producer Tom Brown Inc. The transaction, which also calls for the assumption of $500 million in debt, quickly expands EnCana’s Rocky Mountain presence, with its total U.S. natural gas production to reach 1 Bcf/d.

Updating its reserves and its production guidance going forward, XTO Energy Inc. said recently that it expects proved reserves at year-end 2003 to exceed 4.1 Tcfe. The company added that its reserve volumes imply a finding and development cost for the year, including acquisitions, of less than $1.10/Mcfe.

Acquisitions are pushing Chesapeake Energy Corp. up near the top of the charts in terms of domestic gas production and reserves. The company recently completed three major property acquisitions totaling about $510 million and bringing its gas reserves to more than 3.4 Tcf and its production to an expected 875 MMcf/d in the first quarter and 890 MMcf/d for the year, making it one of the top 15 largest gas producers in North America in terms of daily production.

American Electric Power completed its purchase Friday of Enron Corp.’s intrastate natural gas pipeline subsidiary, Houston Pipe Line Co. The $726.6 million transaction gives AEP, headquartered in Columbus, OH, a 30-year pre-paid lease related to the operation of one of North America’s largest storage facilities, the Bammel Storage Facility and HPL’s inventory.

Acquisitions are pushing Chesapeake Energy Corp. up near the top of the charts in terms of domestic gas production and reserves. The company recently completed three major property acquisitions totaling about $510 million and bringing its gas reserves to more than 3.4 Tcf and its production to an expected 875 MMcf/d in the first quarter and 890 MMcf/d for the year, making it one of the top 15 largest gas producers in North America in terms of daily production.

Updating its reserves and its production guidance going forward, XTO Energy Inc. said Friday that it expects proved reserves at year-end 2003 to exceed 4.1 Tcfe. The company added that its reserve volumes imply a finding and development cost for the year, including acquisitions, of less than $1.10/Mcfe.

London-based BG Group announced last week that its wholly-owned subsidiaries, BG LNG Services LLC and BG Gas Marketing Ltd., have completed a long-term agreement to acquire all of El Paso Merchant Energy’s capacity in the Elba Island liquefied natural gas (LNG) regasification terminal in Georgia and related LNG purchase and gas sale agreements.

London-based BG Group announced Monday that its wholly-owned subsidiaries, BG LNG Services LLC and BG Gas Marketing Ltd., have completed a long-term agreement to acquire all of El Paso Merchant Energy’s capacity in the Elba Island liquefied natural gas (LNG) regasification terminal in Georgia and related LNG purchase and gas sale agreements.