Lots

The Oil & Gas Asset Clearinghouse sold more than $39 million in properties at the hybrid auction held Nov. 10 in Houston, offering 282 lots for sale. About 330 registered bidders competed for properties, with 32% bidding via the Internet.

The Oil & Gas Asset Clearinghouse sold more than $39 million in properties at the hybrid auction held Nov. 10 in Houston, offering 282 lots for sale. About 330 registered bidders competed for properties, with 32% bidding via the Internet.

The Oil & Gas Asset Clearinghouse sold more than $18.2 million in properties at its hybrid auction in May, which offered 113 lots across the country. Approximately 260 registered bidders competed on the properties, with 30% bidding on the Internet. The Clearinghouse’s hybrid auction process allows Internet bidders the opportunity to compete simultaneously and on a real-time basis against floor bidders. Some of the notable properties were sold to Geodyne Nominee, the Jay-Lec Unit in Florida, $750,000; Swift Energy, North Creole and Broussard Field in Cameron Parish, LA, $500,000; Giddings Field in Fayette County, TX, $575,000; John Mecom III et al, Second Bayou Field in Cameron Parish, $1 million; Lance Ruffel Oil & Gas, Golden Trend Field in Grady County, OK, $2.5 million; Noble Energy, Algoa West Field in Brazoria County, TX, $600,000; Cosmonaut Field in Fort Bend County, TX, $1.4 million; Sugar Valley Field in Matagorda County, TX, $625,000; Mission Resources, Buna Field in Jasper County, TX, $725,000. The next hybrid auction will be held on July 14 at the Sheraton North Houston Hotel in Houston. Information on the upcoming auction may be found at www.ogclearinghouse.com.

Drawing lots of lender interest, Bellevue, WA-based Puget Energy announced Wednesday that it obtained two new lines of credit totaling $500 million, involving 17 foreign and domestic banks and including a three-year $350 million unsecured credit line for its major utility subsidiary, Puget Sound Energy (PSE). Its nonutility construction arm, InfrastruX Group, will have a three-year, $150-million line for its operations nationally. Puget said the new credit facility will be used for general corporate purposes, and specifically for the utility, it will be used “primarily to back up the insurance of commercial paper, one of the company’s least expensive sources of borrowed funds.”

According to WSI Corp.’s latest forecast released last week, lots of sunscreen and air conditioning could be a necessity this summer as the company expects temperatures to average warmer-than-normal in most locations, with the exception of the Pacific Northwest and along the western Gulf Coast, which are likely to see cooler-than-normal temperatures.

According to WSI Corp.’s latest forecast released Monday, lots of sunscreen and air conditioning could be a necessity this summer as the company expects temperatures to average warmer-than-normal in most locations, with the exception of the Pacific Northwest and along the western Gulf Coast, which are likely to see cooler-than-normal temperatures.

Just what can the energy industry expect to encounter underincoming President-elect George W. Bush’s administration? It’s asafe bet the former Midland, TX, oilman, paired with formerHalliburton CEO Dick Cheney, will be more open to expanding oil& gas exploration and production. Beyond that, anyone with aninterest in making friends and influencing people in the new Bushadministration, might make use of the following list of Dubya’sEnergy Transition Advisory Team: