Nearly

Prices in nearly all markets outside the Rockies moved a littlehigher Tuesday, but late retreats at many points indicated theaftermarket upticks fueled by producing-area heat may be subsiding.

After searching for a leader to take the helm at EquitableResources for nearly a year, the company’s board of directorsannounced yesterday it has appointed Coral Energy CEO Murry S.Gerber, 45. Gerber will assume his position as president and chiefexecutive officer of Equitable on June 1. Gerber also will serve asa director on the company’s board.

Flatness dominated at nearly all market points Thursday, andseveral sources anticipate a softening mode today due both to thescreen’s decline Thursday and the usual slump of weekend usage.Also, a marketer said cooling weekend temperatures in Texas shoulddampen some of the recent air conditioning load in the state.

Shell Exploration & Production said it will spend nearly $1billion to develop three oil and gas discoveries that will add morethan 300 million Boe to the Gulf’s deep-water inventory. Thesethree projects, Angus, Europa and Macaroni, will increase thenumber of Shell working interest deep-water developments to 14, themost in the industry. Each project will be developed with subseasystems tied back to existing platforms.

EEX Corp. agreed to sell nearly all of its properties in EastTexas and North Louisiana, containing 250 Bcfe of proved naturalgas reserves, to Cross Timbers Oil Co. for $265 million. Theeffective date of the sale is Jan. 1, 1998 with closing expected inthe second quarter.