Final

The fifth sale of blocks in the Western Gulf of Mexico has beenset for Aug. 23 in New Orleans by the U.S. Department of Interior’sMinerals Management Service (MMS). The Final Notice of Sale,published in yesterday’s Federal Register, covers 3,789 availableblocks encompassing about 20.61 million acres in the Western Gulf’sOuter Continental Shelf Planning Area offshore Texas, and in deeperwaters offshore Louisiana. Blocks are located from nine to 200miles offshore in water depths ranging from eight meters to morethan 3,000 meters. The MMS said this is the first Western Gulf saleto require the use of electronic funds transfer procedures for1/5th bonus bids. Current OCS lessees and operators may securepayment using a single bid form; others may be required to securethe EFT payment another way. The Sale Notice Package is availableon the MMS Internet site atwww.gomr.mms.gov/homepg/lsesale/lsesale.html, or from the Gulf ofMexico Region Public Information Unit, 1201 Elmwood Park Blvd., NewOrleans, LA 70123-2394. You can also call 504-736-2519 or800-200-GULF.

Futures traders and observers are going to be burning themidnight oil following final approval of a Nymex board decisionlast week to extend electronic futures trading of natural gas andthree other energy commodities.

Futures traders and observers are going to be burning themidnight oil following final approval of a Nymex board decisionyesterday to extend electronic futures trading of natural gas andthree other energy commodities.

The D.C. appellate court has issued a final ruling upholding theEnvironmental Protection Agency’s (EPA) 1998 clean-air rulerequiring several states east of the Mississippi River to enforcestrict nitrogen-oxide (NOx) emission standards.

The D.C. appellate court issued a final ruling last weekupholding the Environmental Protection Agency’s (EPA) 1998clean-air rule requiring several states east of the MississippiRiver to enforce strict nitrogen-oxide (NOx) emission standards.

Gas futures climbed to their second highest settlement ever onFriday and appear poised to make that final push this week to theplace where no near-month contract has gone before. What will lifebe like if near-month futures rise above $4.60 (or $4.62, if youuse the prior Nymex Access high of December 1996)?

The final remaining maritime boundary treaty between Mexico andthe United States, signed Friday by President Clinton and MexicanPresident Ernesto Zedillo, will give Mexico nearly two-thirds of amineral-rich area that is thought to contain huge amounts ofuntapped oil and gas. Known as the Western Gap, the area has servedas a platform between both countries in the western gap of the Gulfof Mexico, beyond the 200-mile range that officially definesnational territories.

The final remaining maritime boundary treaty between Mexico andthe United States, which is expected to be signed by PresidentClinton and Mexican President Ernesto Zedillo this week, will giveMexico nearly two-thirds of a mineral-rich area that is thought tocontain huge amounts of untapped oil and gas. Known as the WesternGap, the area has served as a platform between both countries inthe western gap of the Gulf of Mexico, beyond the 200-mile rangethat officially defines national territories.

Tri-Valley Corp.’s “Project Ekho” exploration program in KernCounty, CA, reached its final depth of 19,100 feet Wednesday.Project backers now begin a 30- to 60-day period of self-imposedsilence to review drilling logs and records before continuing todevelop significant new supplies of oil and gas at thesub-15,000-foot levels in the extensively drilled central SanJoaquin Valley.