Blasting two U.S. senators’ plans to set up an energy commissionto investigate recent high natural gas and oil prices, North DakotaGov. Ed Schafer said last week the proposal would result in nothingbut finger pointing, and he asserted that there is no “quick fix”to the nation’s energy problems.
Included
Articles from Included
Financial Briefs
Occidental Petroleum reported second quarter net income of $564million ($1.53 per share), the best quarter in the company’shistory. The results included an after-tax gain of $300 millionrelated to the previously announced sale of its 29.2% interest inCanadian Occidental Petroleum and an after-tax charge of $80million for the decision to exit several of Occidental’s chemicalintermediate businesses. The 2000 second quarter net incomecompares to $9 million ($.02 per share) of net income reported forthe second quarter of 1999. The company’s second quarter U.S.natural gas production was up 7% to 715 MMcf/d.
July 20, 2000
Cabot Closes Office, Lays Off 15
Cabot Oil & Gas announced it will close its Pittsburghoffice Aug. 31 as part of a “strategic repositioning” that includedthe sale of non-core Appalachian properties to Enervest ManagementCo. for $46.2 million last September. About 15 jobs will beeliminated as a result of the action. The remaining positions willbe transferred to existing offices in Charleston, WV, and Houston.
May 22, 2000
Cabot Closes Pittsburgh Office, Lays Off 15
Cabot Oil & Gas announced it will close its Pittsburghoffice Aug. 31 as part of a “strategic repositioning” that includedthe sale of non-core Appalachian properties to Enervest ManagementCo. for $46.2 million last September. About 15 jobs will beeliminated as a result of the action. The remaining positions willbe transferred to existing offices in Charleston, WV, and Houston.
May 16, 2000
Alliance Gains NEB Endorsement
Canada’s National Energy Board gave natural-gas exporters alicense to grow by approving the Alliance Pipeline Project, but theboard included a warning of the risks of excess capacity, pricecuts and strained supplies.
December 1, 1998
NGI Marketer Ranking Notice:
Sempra Energy said the third quarter volume numbers it submittedto be included in NGI’s North American gas marketer ranking wereincorrect. The 3.1 Bcf/d first reported by Sempra excluded therecent acquisition of CNG Energy’s wholesale gas marketingportfolio. The corrected number is 4.5 Bcf/d of gas sold during thethird quarter, which is a 52% increase from 3Q97 and puts Sempra atNo. 12 in the ranking rather than No. 20. KN Energy, Columbia,Tractebel, Texaco, Sonat, El Paso, Williams and Enserch move down anotch because of the change. (Please see NGI or Daily GPI,11/9/98).
November 10, 1998
Listen to the latest episode of our newest podcast NGI's Hub and Flow via:
