Exploration

Amoco said yesterday it would consolidate its U.S. explorationand production management offices in Houston to cut costs andincrease competitiveness. About 660 E&P management, technicaland administrative jobs in Denver and New Orleans will be affected.Many of the positions will be relocated to Houston, but Amoco saidthere will be some jobs eliminated as well.

Swift Energy Co. has agreed with Sonat Exploration Co., asubsidiary of Sonat Inc., to purchase for $87.6 million producingoil and gas properties that will increase its reserves by about25%. The deal signifies a redirection of Swift spending plans awayfrom drilling and to acquisition in light of depressed oil prices.

Northwest Natural Gas and NIPSCO subsidiary NI Energy Services(NESI) have combined Canadian exploration and productionsubsidiaries into one company, Canor Energy Ltd., to “ramp upgrowth prospects and increase competitiveness.” NW combinedsubsidiary Canor Energy with NESI’s Southlake Energy March 31through the purchase of Southlake’s stock in exchange for shares inCanor. The new Canor is 66% owned by NW Natural and 34% owned byNESI. The combined company has a production volume approaching4,000 boe/d. Natural gas equivalent reserves total more than 120Bcf.