Island

The massive Shell-led Sakhalin II oil and gas development project offshore Sakhalin Island in the Russian Far East is likely to be delivering liquefied natural gas (LNG) to the U.S. West Coast before the decade is over, according to Steve McVeigh, CEO of the Sakhalin Energy Investment Co.

Shell Canada is aiming to spend $1.1 billion in 2004 on capital and exploration projects, with much of it directed toward natural gas in the western Foothills area, Mackenzie Valley and the Sable Offshore project in the East.

The massive Shell-led Sakhalin II oil and gas development project offshore Sakhalin Island in the Russian Far East is likely to be delivering liquefied natural gas (LNG) to the U.S. West Coast before the decade is over, according to Steve McVeigh, CEO of the Sakhalin Energy Investment Co.

McMoRan Exploration Co.’s JB Mountain Offset, located in South Marsh Island Block 223, has drilled to a total measured depth of 21,896 feet, and wireline logs indicate that the well encountered “significant intervals” of hydrocarbon pay in the Gyrodina sand section.

While continuing to be a rare island of financial strength and stability in turbulent energy times, San Diego-based Sempra Energy, faces some large financings and increased risks because of the “California effect” on power market deals, difficulties in energy trading and problems with some South American distribution utility ventures, according to a report issued Tuesday by CreditSights, a London-based independent financial analysis firm.

While continuing to be a rare island of financial strength and stability in turbulent energy times, San Diego-based Sempra Energy, faces some large financings and increased risks because of the “California effect” on power market deals, difficulties in energy trading and problems with some South American distribution utility ventures, according to a report issued Tuesday by CreditSights, a London-based independent financial analysis firm.

El Paso Energy Partners LP (EPN) said Tuesday that it has started up operations at its Falcon Nest Platform at Mustang Island Block A103, located in the deepwater Gulf of Mexico. The platform is currently processing approximately 185 MMcf and 650 bbl of condensate per day from two wells in the Falcon Field.

Dallas-based Denbury Resources Inc. estimated that its discovery well in North Padre Island Block A-9 offshore Texas in the Gulf of Mexico has total potential natural gas reserves of 90 Bcf (34 Bcf net to Denbury).

Dallas-based Denbury Resources Inc. estimated Thursday that its discovery well in North Padre Island Block A-9 offshore Texas in the Gulf of Mexico has total potential natural gas reserves of 90 Bcf (34 Bcf net to Denbury).