Unocal Corp’s Spirit Energy 76 unit said increased explorationand development activity in the second half of 1999 in its Gulf ofMexico Continental Shelf and onshore regions has generatedadditional crude oil and gas resources that will provide theplatform for higher production levels at the end of 1999 and into2000.
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Citing a need to meet future growth in the region, NW Natural, agas utility serving 477,000 customers in Washington, announcedplans to build a 52-mile, 24-inch pipeline from its existingfacilities near North Plains, WA, to the Williams Gas Pipeline inMolalla, WA. The company said yesterday it has filed a notice ofintent with the Energy Facility Siting Council (EFSC), a divisionof the Oregon Department of Energy. The total cost for the newpipeline, which NW Natural said would be complete by 2004, is $58million.
Oil and gas production from offshore Atlantic Canada could reachabout 500,000 Boe/d if, as key operators in the region predict, anew development project begins every two or three years throughoutthe next two decades, according to “Harnessing the Potential -Atlantic Canada’s Oil and Gas Industry.”
Seeking increased growth opportunities, Citizens Utilities ofStamford, CT, is getting out of the business of distributing gas,electricity and water in order to invest in telecommunications. Thecompany is divesting its Public Services distribution businesses,as well as its wastewater treatment business. As previouslyannounced, Citizens plans to fund $2.3 billion of telephone accessline acquisitions with sale proceeds.
Peoples Energy Production Co., the affiliate of Peoples Gas,extended a year-long buying binge Thursday, by obtaining 70% ofEnsign Operating Co.’s Arkoma basin assets for $15 million. Theproduction arm of Peoples Energy has now spent $65 million inpartnerships and acquisitions since the fall of 1998.
Exxon worldwide additions to proved oil and gas reserves totaled1.1 billion oil-equivalent barrels in 1998, replacing 106% ofproduction. “This year’s strong performance is the fifth year in arow that we’ve exceeded 100% replacement,” said Chairman LeeRaymond. “Over the last 10 years, we’ve added nearly 11 billionoil-equivalent barrels to proved reserves, more than replacingreserves produced. Long-term reserves portfolio management anddevelopment is a key area of emphasis in our business.”
While there’s much commercial and industrial customers likeabout gas unbundling, they still have complaints, according to arecent study. And while marketers are perceived to be moresensitive to customers’ wants and needs than LDCs, utilities arestill favored for gas supply by some.
Anadarko Petroleum said its annual energy production is expectedto grow at an average rate of 18% per year, from 48 million energyequivalent barrels (EEBs) in 1998 to an estimated 92 million EEBsin 2002. The company said the new production forecast is based ondevelopment of known fields and does not include any newexploration discoveries.
Cross Bay Pipeline Co., a limited liability company formed bysubsidiaries of Williams, Duke Energy and KeySpan Energy, announcedit is holding a 30-day open season from Oct. 15 to Nov. 13 todetermine market interest in 125,000 Dth/d of firm capacity to theNew York City metropolitan area.