Heart

Chesapeake Strikes Another Barnett Deal With Four Sevens

Chesapeake Energy Corp. has acquired or agreed to acquire about 8,500 net undeveloped acres in the heart of the Barnett Shale play in Tarrant County, TX, from Four Sevens Resources Co. Ltd., Sinclair Oil & Gas Co. and several of their affiliates and partners, the company said Monday.

July 3, 2007

Bulls Take Over as Futures Maintain $7 Support

After a wild week that saw the natural gas futures market survive heat waves, August’s expiration and a 7 Bcf storage withdrawal in the heart of July, natural gas futures traders gave it a rest on Friday. In its first regular session action as front month, September natural gas briefly sank below $7 before settling at $$7.184, up 6.1 cents on the day and 93.6 cents higher for the week.

July 31, 2006

Peoples Adds 59 Bcfe of Proved Reserves, Plans Sale of Power Generation Business

Peoples Energy’s oil and gas production subsidiary, Peoples Energy Production, added about 59 Bcfe of proved gas reserves in the heart of the Cotton Valley/Travis Peak (Hosston) gas trend in East Texas, North Louisiana and Mississippi for $139 million. The company also announced that it has received proposals and is in negotiations to sell its power generation assets (800 MW) and exit that business.

February 24, 2006

Hurricanes Wash Out $600M from Chevron’s Bottom Line

Hurricanes Katrina, Rita and Dennis cut right into the heart of Chevron Corp’s Gulf Coast operations in the third quarter, resulting in a $600 million cut in profits, and the carryover effects on fourth quarter results are expected to be even more significant, CEO Dave O’Reilly said Friday. The storms reduced 3Q2005 oil and natural gas production by about 90,000 boe/d and are expected to curtail more output in the final quarter.

October 31, 2005

People

Nevada Gov. Kenny Guinn’s energy adviser, Richard “Dick” Burdette, 61, died last Wednesday from a heart attack. Burdette’s funeral was held Monday in Carson City, NV. A U.S. Naval Academy graduate, Burdette was named energy adviser in December 2003 after serving five years at the Nevada Public Utilities Commission as its manager of resource and market analysis. He was a consultant in several regulated industries, worked as a aide to a U.S. senator and was a public affairs officer and acting deputy assistant secretary in the U.S. Transportation Department.

May 4, 2005

Natural Gas at Center of CA’s Energy Policy, State Official Says

Natural gas continues to be at the heart of California’s future energy policy, and the key areas of focus are on pipeline capacity and liquefied natural gas (LNG), according to the California Energy Commission’s (CEC) top gas official, David Maul. As gas demand continues to increase in the nation’s most populous state, natural gas imports are at the 85% level.

May 21, 2004

Millennium Brings Empire, KeySpan On Board, Plans to Phase-in Project

The Millennium Pipeline project is off life support after receiving the equivalent of heart bypass surgery. A new precedent agreement with the Northeast’s largest gas distribution company, KeySpan, and an alternative upstream link to supply through the Empire State Pipeline system have breathed new life into the project, according to its sponsors.

February 18, 2004

Magnum Hunter on Prowl for CBM in San Juan Basin

Magnum Hunter Resources Inc., whose oil and gas activities have focused on traditional exploration in the heart of the U.S. oil patch and offshore in the Gulf of Mexico, has established a new core area in the San Juan Basin, with plans to exploit an area of nearly 6 million acres through a joint coalbed methane (CBM) venture.

September 29, 2003

Magnum Hunter on Prowl for CBM in San Juan Basin

Magnum Hunter Resources Inc., whose oil and gas activities have focused on traditional exploration in the heart of the U.S. oil patch and offshore in the Gulf of Mexico, has established a new core area in the San Juan Basin, with plans to exploit an area of nearly 6 million acres through a joint coalbed methane (CBM) venture.

September 24, 2003

IPPs Ask Cal-ISO to Pay Up for Past Power Sales

In the continuing string of unpaid power bills that sits at the heart of California’s lingering electricity crisis, the state association of independent power producers last Wednesday asked the state transmission grid operator, Cal-ISO, to pay up. The nonprofit public benefits organization said that it is “working on it.”

August 20, 2001