Participation

Participation in natural gas price surveys is increasing, price publishers told FERC staff last Tuesday, at the same time companies reported there is much less complaining from traders about the results of the surveys.

Participation in natural gas price surveys is increasing, price publishers told FERC staff Tuesday, at the same time companies reported there is much less complaining from traders about the results of the surveys.

With its participation in two of the largest natural gas projects offshore the United States already under its belt this year, Pioneer Natural Resources has generated a cash windfall and expects to have nearly $1 billion in free cash flow for the next two years with a return on equity in the 20-22% range, CEO Scott Sheffield said Wednesday.

With its participation in two of the largest natural gas projects offshore the United States already under its belt this year, Pioneer Natural Resources has generated a cash windfall and expects to have nearly $1 billion in free cash flow for the next two years with a return on equity in the 20-22% range, CEO Scott Sheffield said Wednesday.

Natural Gas Intelligence (NGI) has broadly distributed a request for the cooperation of buyers and sellers in the wholesale natural gas market in increasing fixed price trading and reporting transactions to price survey publishers. “The combination of the collapse of the middle man marketing sector and the tight supply situation in the U.S., makes it imperative that all industry segments work to support the efficient operation of the wholesale market,” said the publishing company in a letter sent to several thousand buyers and sellers of natural gas.

Natural Gas Intelligence (NGI) has broadly distributed a request for the cooperation of buyers and sellers in the wholesale natural gas market in increasing fixed price trading and reporting transactions to price survey publishers. “The combination of the collapse of the middle man marketing sector and the tight supply situation in the U.S., makes it imperative that all industry segments work to support the efficient operation of the wholesale market,” said the publishing company in a letter sent to several thousand buyers and sellers of natural gas.

Devon Energy and ChevronTexaco have signed a joint participation agreement covering deepwater exploration projects in the Gulf of Mexico. The deal calls for Devon to participate in a four-well drilling program in exchange for a 25% working interest in 71 ChevronTexaco deepwater blocks. To date, 14 exploratory prospects have been identified on the joint-venture acreage.

Devon Energy and ChevronTexaco have signed a joint participation agreement covering deepwater exploration projects in the Gulf of Mexico. The deal calls for Devon to participate in a four-well drilling program in exchange for a 25% working interest in 71 ChevronTexaco deepwater blocks. To date, 14 exploratory prospects have been identified on the joint-venture acreage.

Alberta’s First Nation and Metis aboriginal groups are signaling a more active participation in Canada’s energy exploration and development, after signing an agreement Tuesday with Lakota Drilling to transfer the ownership and eventually the full operatorship of three heavy-duty drilling rigs. Collectively, the aboriginal groups will eventually invest a total of C$13.5 million toward the overall purchase cost of the rigs, and EnCana Corp. has made a minimum four-year drilling commitment at competitive rates to ensure that the rigs are fully engaged.