Magnum Hunter Resources Inc., whose oil and gas activities have focused on traditional exploration in the heart of the U.S. oil patch and offshore in the Gulf of Mexico, has established a new core area in the San Juan Basin, with plans to exploit an area of nearly 6 million acres through a joint coalbed methane (CBM) venture.
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Magnum Hunter on Prowl for CBM in San Juan Basin
Magnum Hunter Resources Inc., whose oil and gas activities have focused on traditional exploration in the heart of the U.S. oil patch and offshore in the Gulf of Mexico, has established a new core area in the San Juan Basin, with plans to exploit an area of nearly 6 million acres through a joint coalbed methane (CBM) venture.
U.S. Producers Continue Quest For Canadian Reserves
Canadian Hunter Exploration Ltd., the latest in Calgary’s energy patch to announce a merger with a U.S. producer this year, may be one of the biggest to be seduced in a buyout, but it won’t be the last, predicted CEO Steve Savidant this week. Questioned about which Canadian companies could next be on the radar screen for mergers, Savidant also had the answer for that.”There can’t be a heck of a lot more, because there’s not a lot more companies.”
U.S. Producers Continue Quest For Canadian Reserves
Canadian Hunter Exploration Ltd., the latest in Calgary’s energy patch to announce a merger with a U.S. producer this year, may be one of the biggest to be seduced in a buyout, but it won’t be the last, predicted CEO Steve Savidant this week. Questioned about which Canadian companies could next be on the radar screen for mergers, Savidant also had the answer for that.”There can’t be a heck of a lot more, because there’s not a lot more companies.”
Power Plant Construction Proceeding in CA
Backers of the Elk Hills Power Plant in the western edge of the San Joaquin Valley’s oil patch held groundbreaking ceremonies Monday –on a 570-MW gas-fired plant in the midst of plentiful local gas supplies. The plant’s sponsors are Occidental Petroleum (Oxy), which owns the nearby Elk Hills oil/gas production fields once a part of the U.S. Navy’s Strategic Reserves, and Sempra Energy. The new plant will get all of its fuel supplies — up to 94 MMcf/d — from nearby Elk Hills, delivered through an Oxy pipeline, eliminating the normal utility transportation charges.
High Prices Hurt Texas, Nation’s Economy
Importing natural gas into Texas? Could the possibility evenexist? Unless the state’s oil patch has a revival in the nextcouple of years, a new study predicts that Texas soon will beconsuming more gas than it produces, pumping up the possibility oftransporting gas into the state that has long boasted its status asthe energy capital of the country.
High Prices Hurt Texas, Nation’s Economy
Importing natural gas into Texas? Could the possibility evenexist? Unless the state’s oil patch has a revival in the nextcouple of years, a new study predicts that Texas soon will beconsuming more gas than it produces, pumping up the possibility oftransporting gas into the state that has long boasted its status asthe energy capital of the country.
‘Graying’ of Oil Patch Spells Trouble for Producers
Further fueling concerns that there may not be enough domesticgas supply to meet a 30 Tcf demand market down the road, a newstudy warns the industry likely will face a shortage of productionpersonnel to explore and drill for natural gas if the current trendtowards consolidation, divestiture and downsizing continues.
‘Graying’ of Oil Patch Spells Trouble
Further fueling concerns that there may not be enough domesticgas supply to meet a 30 Tcf demand market down the road, a newstudy warns the industry likely will face a shortage of productionpersonnel to explore and drill for natural gas if the current trendtowards consolidation, divestiture and downsizing continues.
Industry Buzzes About Possible Noble, Ocean Energy Union
The latest buzz in the oil-patch and on Wall Street is thatindependent producer and marketer Noble Affiliates Inc. of Ardmore,OK, may acquire competitor Ocean Energy Inc. in a transaction thatwould catapult the combined company into the ranks of one of thetop natural gas producers in the United States.