Estimate

Anadarko Petroleum Corp. has made a large natural gas discovery in the Saddle Hills area of Alberta, expanding the proven and probable reserves from the multi-zone play to 130 Bcf from the previous estimates of 90 Bcf. Before Anadarko began to step up its activity in Saddle Hills late in 2001, the play held an estimated 6 Bcf of proven reserves.

Anadarko Petroleum Corp. has made a large natural gas discovery in the Saddle Hills area of Alberta, expanding the proven and probable reserves from the multi-zone play to 130 Bcf from the previous estimates of 90 Bcf. Before Anadarko began to step up its activity in Saddle Hills late in 2001, the play held an estimated 6 Bcf of proven reserves.

Shell Canada Ltd. has revised its estimate of original sales gas reserves for the Sable Offshore Energy Project (SOEP) fields downward by approximately 90 Bcf, to 700 Bcf, and has reclassified approximately 200 Bcf of sales gas reserves from the proven developed category to proven undeveloped.

New Orleans-based Entergy Corp. expects to exceed its earnings estimate by at least 10 cents in the third quarter, and now expects to exceed its earnings guidance for the entire year 10-20 cents, benefiting from stronger than expected wholesale energy marketing and trading sales and continued improvement in the regional economy.

Dynegy Inc.’s ability to market natural gas creatively will help ChevronTexaco Corp. grow its gas presence in U.S. markets, as the major turns its long-term plan toward producing and delivering its substantial reserves, executives said Wednesday. As a 26.5% stakeholder in the Houston-based energy merchant, ChevronTexaco management, including Chairman Dave O’Reilly, made clear that Dynegy is its strategic marketing partner now and into the future.

According to a recent estimate by the Electric Power Supply Association (EPSA), the nation’s competitive generating capacity is likely to reach 319.5 GW by the end of 2001, more than a four-fold increase from 1997.

Reflecting what is fast becoming an industry trend, Reliant Resources Inc. late last week reported a slight drop in its third quarter 2001 earnings after seeing lower margins in wholesale energy trading and operating losses in retail and European energy operations. However, the company raised its earnings guidance for the year based on expanded wholesale activity and improvements in retail operations.

Powered by its marketing and trading unit, Houston-based Dynegy Inc. last week reported a 55% increase in its third quarter earnings from a year ago and also saw its net income jump 62%. With a strong finish expected for the year, Dynegy now predicts it will show 45% growth over 2000 — substantially higher than its prediction of 25% growth a year earlier, and remains optimistic of a 20% growth rate for several more years. CEO Chuck Watson attributed the stellar performance to Dynegy’s focus and intellectual capital, and predicted the company would continue to execute its strategies “regardless of market conditions.”

Powered by its marketing and trading unit, Houston-based Dynegy Inc. on Monday reported a 55% increase in its third quarter earnings from a year ago and also saw its net income jump 62%. With a strong finish expected for the year, Dynegy now predicts it will show 45% growth over 2000 — substantially higher than its prediction of 25% growth a year earlier, and remains optimistic of a 20% growth rate for several more years. CEO Chuck Watson attributed the stellar performance to Dynegy’s focus and intellectual capital, and predicted the company would continue to execute its strategies “regardless of market conditions.”