Subsea processing is poised to grow into an important new business sector because it can substantially reduce offshore platform expenditures and in cases, eliminate the need for platforms completely, according to a joint study by energy analysts Douglas-Westwood and technology specialists OTM Consulting.
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Devon’s ’04 Production Forecast Higher Despite Arkoma Basin Sale
Devon Energy Corp., the largest U.S.-based independent, is forecasting production will grow in 2004 by 4-6%, even though it has put its prolific Cherokee coalbed methane (CBM) field up for sale. The Oklahoma City-based producer, one of the most active in CBM, said the Arkoma Basin field, which holds an estimated 22 MMboe in reserves, is no longer considered a core asset because of recent acquisitions.
September 10, 2003
XTO’s CEO Forecasts 25% Growth in Gas Reserves This Year
On track to grow its natural gas reserves 25% this year, XTO Energy Inc.’s CEO on Wednesday said the company will continue its strategy to uncover quality natural gas assets in key legacy basins of North America.
September 8, 2003
XTO’s CEO Forecasts 25% Growth in Gas Reserves This Year
On track to grow its natural gas reserves 25% this year, XTO Energy Inc.’s CEO on Wednesday said the company will continue its strategy to uncover quality natural gas assets in key legacy basins of North America.
September 4, 2003
Scotian LNG Facility Proposed to Serve M&NP
The list of proposed North American liquefied natural gas (LNG) facilities continues to grow, with the latest project planned for Nova Scotia by Access Northeast Energy Inc. (ANE). The Bear Head LNG Terminal, to be developed near Point Tupper, NS, could begin commercial operations by November 2007, offering between 750 MMcf/d-1 Bcf/d of send-out capacity into the Maritimes and Northeast Pipeline.
August 27, 2003
Shell Expects U.S. LNG Imports to Grow
The world could be consuming more gas than oil by 2025, and to prepare, Royal Dutch/Shell Group is expanding its reach to serve the higher demand in the United States and Asia through liquefied natural gas (LNG) imports, according to Sir Philip Watts, chairman of Shell’s committee of managing directors.
June 9, 2003
Shell Expects U.S. LNG Imports to Grow
The world could be consuming more gas than oil by 2025, and to prepare, Royal Dutch/Shell Group is expanding its reach to serve the higher demand in the United States and Asia through liquefied natural gas (LNG) imports, according to Sir Philip Watts, chairman of Shell’s committee of managing directors.
June 4, 2003
ChevronTexaco Forms Global Subsidiary to Grow Gas Businesses
ChevronTexaco Corp. on Wednesday announced the creation of ChevronTexaco Global Gas (CTGG), a new subsidiary that is expected to play a key role in ChevronTexaco’s strategic plans to commercialize its existing natural gas resource base and enable the creation and development of new natural gas growth opportunities worldwide.
May 22, 2003
Magnum Hunter, Chesapeake Grow Double-Digit Production in 1Q
Magnum Hunter Resources Inc. saw its production up 30% while Chesapeake Energy gained 35% on the production side for the first quarter, with both of the gas-heavy independents growing reserves despite some industry forecasts to the contrary.
April 29, 2003
Cabot to Drill 60% More Wells in ’03
Continuing a quest to grow through the drill bit, Houston-based explorer Cabot Oil & Gas Corp. upped its capital budget for 2003, and has set its sights on drilling 60% more wells by the end of the year.
March 3, 2003
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