Development

A white paper released by Prosper Business Development Corp.outlines three phases of revolution occurring in the energyindustry and explains three mistakes marketers must avoid to ensuresuccess in the competitive marketplace. The paper addressesdifferences from telecommunications deregulation and warns of ashakeout for energy marketing executives who fail to respond to thederegulating market.

Mitchell Energy & Development agreed to pay $50 million foroil and gas producing properties in three separate transactions.

The Texas Railroad Commission (TRC) issued a complaint and offerof settlement to Mitchell Energy & Development alleging pasttechnical violations of drilling and completion rules. Thecomplaint involves 112 wells, all of which were drilled more than35 years ago. The TRC said the actual depth of the surface casingset in each well was shorter than the depth required by andreported to the commission. Mitchell said there is no evidence ofpollution from the wells.

Rebecca McDonald, president and CEO of Amoco Energy Development,was named the 1998-1999 chairman of the Natural Gas SupplyAssociation last week. J. Larry Nichols, president of Devon EnergyCorp., was selected as vice chairman; Richard J. Sharples, vicepresident of marketing for Anadarko Petroleum, was madesecretary/treasurer.