Mountains

The Rocky Mountains over the past 20 years have been established as one of the largest natural gas reserve regions in the Lower 48, but there is no lack of challenges for exploration and production companies to access and develop the resource, according to Richard H. Lewis, CEO of Prima Energy Corp.

The Powder River Basin of the Rocky Mountains holds more coalbed methane (CBM) reserves than previously thought, according to a U.S. Geological Survey (USGS) official, who testified Thursday before the House Energy and Mineral Resources Subcommittee. However, on a less positive note at the oversight hearing on CBM issues, Gene Whitney, a USGS supervisory geologist, lowered the forecast for CBM in the Uinta-Piceance Basin.

The Powder River Basin of the Rocky Mountains holds more coalbed methane (CBM) reserves than previously thought, according to a U.S. Geological Survey (USGS) official, who testified Thursday before the House Energy and Mineral Resources Subcommittee. However, on a less positive note at the oversight hearing on CBM issues, Gene Whitney, a USGS supervisory geologist, lowered the forecast for CBM in the Uinta-Piceance Basin.

CEO Peter Dea’s vision for Barrett Resources Inc. in the mid-1990s was to build the premier exploration and production company in the Rocky Mountains and to double its reserve base in three to five years. Through a solid execution plan that was only temporarily distracted with E&P in the Gulf of Mexico, Barrett has had 13% annual growth in the past six years with production standing at 350 MMcf/d — effectively doubling its reserve base in less than three years.

CEO Peter Dea’s vision for Barrett Resources Inc. in the mid-1990s was to build the premier exploration and production company in the Rocky Mountains and to double its reserve base in three to five years. Through a solid execution plan that was only temporarily distracted with E&P in the Gulf of Mexico, Barrett has had 13% annual growth in the past six years with production standing at 350 MMcf/d — effectively doubling its reserve base in less than three years.

Rocky Mountains natural gas producer HS Resources Inc. agreed to a friendly merger with Kerr-McGee Corp. last week, in a deal that sent the San Francisco-based independent’s stock soaring almost 21%. The deal, which would boost Kerr-McGee’s gas reserves 77%, is a cash-and-stock merger worth about $1.25 billion, with Kerr-McGee also assuming $450 million of the independent’s debt.

Rocky Mountains natural gas producer HS Resources Inc. agreed to a friendly merger with Kerr-McGee Corp. yesterday, in a deal that sent the San Francisco-based independent’s stock soaring almost 21%. The deal, which would boost Kerr-McGee’s gas reserves 77%, is a cash-and-stock deal worth about $1.25 billion, with Kerr-McGee also assuming $450 million of the independent’s debt.

Responding to tight energy supplies in the Pacific Northwest andCalifornia, PG&E Corp.’s National Energy Group revealed plansWednesday to begin an open season early next year, kicking off afive-year expansion effort. The first phase would add 200 MMcf/d offirm transportation capacity out of western Canada on its GasTransmission-Northwest (GTN) pipeline system. The PG&E GTNgroup expects the phase one expansion to be in service by November2002 at the latest.

Rocky Mountains ski resort operators were starting to breathe alittle easier Tuesday. After many had missed traditional openingdates of Thanksgiving Day weekend or earlier, they welcomed asnowstorm that either was arriving or on its way. For much the samereason, Rockies/Pacific Northwest and Southwest points constitutedthe only region seeing meaningful price gains on either side of anickel Tuesday. The rest of the cash market was a sea of flatnessthat, unlike Monday, leaned slightly to the downside instead of theupside.