Core

Houston-based Noble Energy Inc. expanded its core operations in the Wattenberg field in Montana Thursday with the purchase of privately held United States Exploration Inc. for $411 million. The transaction will add an estimated 248 Bcfe to Noble’s proved reserves, of which 41% are proved developed and 55% are natural gas.

Marking one of the final steps in its effort to exit operations that detract from its core focus on unconventional natural gas and oil resources in North America, EnCana Corp. said Tuesday it is selling its shares in subsidiaries that have oil and pipeline interests in Ecuador to Andes Petroleum Co., a joint venture of Chinese petroleum companies, for US$1.42 billion in cash.

Equitable Resources announced the closing of a $147 million sale of non-core gas properties to NCL Appalachian Partners, a partnership between Locin Oil Corp. and GE Commercial Finance Energy Financial Services. Equitable sold an estimated 66 Bcf of proved reserves, of which 59 Bcf were developed. Equitable expects that no gain or loss will be recorded and reiterated its 2005 supply sales estimate of 73 Bcf.

Talisman Energy made a major natural gas find in northeastern British Columbia. A successful Paleozoic gas well in its core Monkman area tested at a restricted rate of 40 MMcf/d with maximum open flow potential of more than 75 MMcf/d. The company said the well, 20% of which is owned by Seneca Energy Canada Inc., should begin production at 40 MMcf/d by January.

Talisman Energy made a major natural gas find in northeastern British Columbia. A successful Paleozoic gas well in its core Monkman area tested at a restricted rate of 40 MMcf/d with maximum open flow potential of more than 75 MMcf/d. The company said the well, 20% of which is owned by Seneca Energy Canada Inc., should begin production at 40 MMcf/d by January.

A leaner Williams Cos. has set its sights on its three core natural gas businesses, exploration and production (E&P), midstream and interstate gas pipelines, going forward, the head of the company told analysts last Thursday. The company is trying to exit the power business, but it’s unlikely that it will be able to do so in the near term.

A leaner Williams Cos. has set its sights on its three core natural gas businesses, exploration and production (E&P), midstream and interstate gas pipelines, going forward, the head of the company told analysts Thursday. The company is trying to exit the power business, but it’s unlikely that it will be able to do so in the near term.

Looking to bolster its core natural gas reserve base in the Southwest, Comstock Resources Inc. announced that it has agreed to purchase substantially all of the assets of Ovation Energy, LP. for $62.5 million.

Looking to bolster its core natural gas reserve base in the Southwest, Comstock Resources Inc. announced Wednesday that it has agreed to purchase substantially all of the assets of Ovation Energy, LP. for $62.5 million.