Investments

Producers Urged to Invest for Arctic, Canadian Gas Supplies

Cash-heavy energy producers have to begin making some capital investments soon if they expect liquefied natural gas (LNG) and Arctic gas to make up the projected natural gas shortfall in North America, said a senior analyst at BP North America Gas & Power last week.

March 14, 2005

Producers Urged to Invest for Arctic, Canadian Gas Supplies

Cash-heavy energy producers have to begin making some capital investments soon if they expect liquefied natural gas (LNG) and Arctic gas to make up the projected natural gas shortfall in North America, said a senior analyst at BP North America Gas & Power this week.

March 11, 2005

Sempra, Calpine Mexican Projects Underway; Skeptics Wary of Political Change

Sempra Energy and Calpine Corp. remain bullish on investments in Mexico’s energy industry despite concerns about whether the next national political administration in Mexico City will be as friendly toward private-sector investment in the country. Skeptics cite Mexico’s historic nationalization of the oil/gas exploration and development industry in the late 1930s.

March 3, 2005

Black Hills Warns Investors of Lower Than Expected Results

After the market closed Tuesday, Black Hills Corp. warned investors to expect sharply lower than expected net income from continuing operations in the fourth quarter. Fourth quarter income is expected to be in the range of 25-30 cents/share, compared to 54 cents/share in fourth quarter 2002 and analysts’ expectations of 55 cents/share.

December 17, 2003

BC Legislation to Streamline Laws, Encourage Energy Investments

New energy legislation introduced in British Columbia is expected to save money and improve services for the province’s industry and customers, Energy and Mines Minister Richard Neufeld said Thursday.

March 3, 2003

Sempra Not Worried About Argentina Gas Utility Investments

Argentina’s scrambled economy that has drawn front-page attention from some major U.S. financial news media so far does not worry San Diego-based Sempra Energy, which has significant interest in two natural gas utilities.

December 23, 2002

S&P: E&P Sector Poised for Strong Turnaround in ’03

The oil and gas industry, led by exploration and production (E&P), will be one of the stronger investments in 2003, according to Standard & Poor’s Ratings Service (S&P), which published its year-end equity market wrap-up and outlook on Wednesday. S&P expects the strengthening momentum as the year ends to carry into the coming year.

December 23, 2002

El Paso Tennessee Pipeline Writes Down $342 Million in Argentina Assets

Writedowns totaling $342 million related to investments in power generation assets and oil reserves in financially-troubled Argentina in the first half of the year added up to a net loss of $99 million for El Paso Tennessee Pipeline Co. for the six-month period ending June 30, the company announced Wednesday.

August 15, 2002

Burlington Reduces ’02 Capital Budget, Plans 70% E&P in Canada, US

Burlington Resources Inc. plans to lower its capital investments in 2002 to $1.3 billion, compared with combined full-year expenditures by the company and merger partner Canadian Hunter Exploration Ltd. of $1.6 billion this year. Excluding capital for acquisitions, next year, about 40% of Burlington’s exploration and production budget will be spent in Canada, with another 30% allocated to develop the San Juan Basin and Midcontinent areas of the United States. Another 30% will be spent on major development programs around the world.

December 24, 2001

Burlington Reduces ’02 Capital Budget, Plans 70% E&P in Canada, US

Burlington Resources Inc. said Tuesday it would lower its capital investments in 2002 to $1.3 billion, compared with combined full-year expenditures by the company and merger partner Canadian Hunter Exploration Ltd. of $1.6 billion this year. Totals for both years exclude capital for acquisitions. Next year, about 40% of Burlington’s exploration and production budget will be spent in Canada, with another 30% allocated to develop the San Juan Basin and Midcontinent areas of the United States. Another 30% will be spent on major development programs around the world.

December 19, 2001