Mark

When EOG CEO Mark Papa opens his mouth, the words “bullish on gas prices” usually are among the first to come out, but this year Papa’s backing up his words with actions. None of EOG’s North American natural gas production is hedged in 2004 and 2005 because Papa said he expects gas prices to remain above $5/MMBtu (Henry Hub) for at least the next five years.

Natural gas futures rebounded cautiously Thursday after dropping below the $6.00 mark early in the session on the news that a larger-than-expected 90 Bcf was injected into underground storage facilities last week. The June contract finished at $6.035, down 16.3 cents for the session and 8.5 cents off its $5.95 low.

When EOG CEO Mark Papa opens his mouth, the words “bullish on gas prices” usually are among the first to come out, but this year Papa’s backing up his words with actions. None of EOG’s North American natural gas production is hedged in 2004 and 2005. Papa said he expects gas prices to remain above $5/MMBtu (Henry Hub) for at least the next five years.

Shell Trading said that Mark Hanafin, currently CEO of Shell Trading US Co. (STUSCO), will succeed Peter Ward as CEO of Shell Trading Gas & Power Co. and of Coral Energy. Bernard Auplat, currently general manager for ButaGaz, Shell’s liquefied petroleum gas business in France, will succeed Hanafin. Hanafin has worked in a variety of trading and management positions in the UK, Bulgaria and the United States. He will take over his new role in mid-April. Auplat has worked in a variety of supply and trading positions in France, the UK and the Netherlands. He will join STUSCO in June. STUSCO is active both domestically and internationally in the trading of crude oil and refined petroleum products. Coral Energy is the dedicated marketer of Shell’s natural gas production in the United States and Canada, and a major North American gas and power marketing and trading company. Both are based in Houston.

Shell Trading said that Mark Hanafin, currently CEO of Shell Trading US Co. (STUSCO), will succeed Peter Ward as CEO of Shell Trading Gas & Power Co. and of Coral Energy. Bernard Auplat, currently general manager for ButaGaz, Shell’s liquefied petroleum gas business in France, will succeed Hanafin. Hanafin has worked in a variety of trading and management positions in the UK, Bulgaria and the United States. He will take over his new role in mid-April. Auplat has worked in a variety of supply and trading positions in France, the UK and the Netherlands. He will join STUSCO in June. STUSCO is active both domestically and internationally in the trading of crude oil and refined petroleum products. Coral Energy is the dedicated marketer of Shell’s natural gas production in the United States and Canada, and a major North American gas and power marketing and trading company. Both are based in Houston.

After closing below the $5.00 mark last Thursday for the first time since early January, natural gas futures traded quickly sideways Friday as neither bull nor bear could muster the buying or selling required to budge the market.

Only three months into the new year, El Paso Corp. said it has already completed or entered into more than 50% of the company’s targeted $3.4 billion asset sales goal for 2003.

Checking off three more asset divestitures last week, El Paso Corp. announced it has completed or announced more than $1.35 billion in sales so far this year, approximately 40% of the company’s recently expanded asset sales goal of $3.4 billion for calendar year 2003.

Checking off two more asset divestitures Monday, El Paso Corp. announced it has completed or announced $1.35 billion in sales so far this year, approximately 40% of the company’s recently expanded asset sales goal of $3.4 billion for calendar year 2003.