Explorers

Recognizing potential adverse impacts on oil and natural gas operations and explorers, Gov. Sean Parnell last Thursday vetoed Senate Bill 305, legislation that would have decoupled Alaska’s petroleum taxes through separate levies on oil and gas production.

Recognizing potential adverse impacts on oil and natural gas operations and explorers, Governor Sean Parnell on Thursday vetoed Senate Bill 305, legislation that would have decoupled Alaska’s petroleum taxes through separate levies on oil and gas production.

Natural gas production in 3Q2009 by the top domestic explorers showed little sign of pulling back, and aggregate output by the end of the year could be 9% higher than in 2008, which points to “substantial uncertainties” for supply and demand drivers in 2010, energy analysts said last week.

Natural gas production in 3Q2009 by the top domestic explorers showed little sign of pulling back, and aggregate output by the end of the year likely will be 9% higher than in 2008, according to an analysis by the exploration and production (E&P) research team at Tudor, Pickering, Holt & Co. Securities Inc. (TPH).

Natural gas explorers appeared to be cutting their capital expenditures (capex) almost as soon as the new year began, but some producers are beginning to spend more and drill more — a scenario that may lead to more pain in the next few months, Raymond James & Associates Inc. analysts said Monday.

Two junior exploration and production (E&P) companies in just the past few days have filed for voluntary bankruptcy protection, and many of the more leveraged explorers may see their companies’ misfortunes increasingly tied to slumping natural gas and oil prices, according to energy analysts and credit ratings agencies.

Two junior exploration and production (E&P) companies last week filed for voluntary bankruptcy protection, and many of the more leveraged explorers may see their companies’ misfortunes increasingly tied to slumping natural gas and oil prices, according to energy analysts and credit ratings agencies.

With Canada’s natural gas production in perpetual decline (see NGI, June 4), the Canadian Association of Petroleum Producers (CAPP) joined the Small Explorers and Producers Association (SEPAC) to make their case that Alberta’s current oil and gas royalty regime, which is now under review, needs to remain robust to accommodate the maturing and shifting nature of the province’s resources.

With Canada’s natural gas production in perpetual decline (see Daily GPI, June 1), the Canadian Association of Petroleum Producers (CAPP) joined the Small Explorers and Producers Association (SEPAC) to make their case that Alberta’s current oil and gas royalty regime, which is now under review, needs to remain robust to accommodate the maturing and shifting nature of the province’s resources.