Finds

A new study by Petroleum Research Atlantic Canada (PRAC) on five greenfield sites that have received or expanded natural gas service within the past 10 years reports that areas offering gas services are better able to retain industries that might otherwise relocate because of environmental standards and costs, and the communities become more competitive.

While the odds of the U.S. getting hit by another blackout on the scale of the one last year on Aug. 14 appear to be “a little less likely” as the country approaches the one-year anniversary of that historic event, David Brown, a vice-president at NUS Consulting, believes that there hasn’t been adequate follow through on a final report examining the outage completed by a joint U.S.-Canada task force earlier this year.

Certain employees of El Paso Corp. used “unsupportable methods” over a four-year period, which resulted in a 41% overbooking of oil and natural gas reserves, according to an independent review released last week. No current or former employees were named in a statement by the company.

A survey of Canadian field receipts by UBS shows that record drilling this year led to a 2.5% gas production increase in the second quarter. According to UBS estimates, which are based on 95% of the total gas produced in Canada, production in the second quarter averaged 16 Bcf/d compared to 15.6 Bcf/d during the second quarter of 2003. Year to date production rose 1.3% to 15.8 Bcf/d, analysts at UBS said.

A survey of Canadian field receipts by UBS shows that record drilling this year led to a 2.5% gas production increase in the second quarter. According to UBS estimates, which are based on 95% of the total gas produced in Canada, production in the second quarter averaged 16 Bcf/d compared to 15.6 Bcf/d during the second quarter of 2003. Year to date production rose 1.3% to 15.8 Bcf/d, analysts at UBS said.

Shell Exploration & Production Co. (SEPCo) reported last week that it hit natural gas in the deepest water depths yet from two Gulf of Mexico (GOM) wells. The twin Coulomb wells began production June 23, and combined, they eventually are expected to produce more than 100 MMcf/d.

Shell Exploration & Production Co. (SEPCo) said Wednesday that it hit natural gas in the deepest water depths yet from two Gulf of Mexico wells. The twin Coulomb wells began production June 23, and combined they eventually are expected to produce more than 100 MMcf/d.

Exploration and production (E&P) reserve life, calculated as developed and undeveloped proven reserves divided by the last 12 months production, offer investors more assurance of superior long term production growth over the traditional finding and development (F&D) costs, according to a report by Southwest Securities’ analysts.

Exploration and production (E&P) reserve life, calculated as developed and undeveloped proven reserves divided by the last 12 months production, offer investors more assurance of superior long term production growth over the traditional finding and development (F&D) costs, according to a report by Southwest Securities’ analysts.