Player

Dominion is selling its natural gas and oil exploration and production (E&P) business to a newly formed subsidiary of major coal player Consol Energy Inc. for $3.475 billion in cash, the companies said Monday. The deal includes rights to about 491,000 acres in the Marcellus Shale.

An incremental 10-15 Bcf/d of U.S. natural gas supply over the next 10-15 years creates “abundant” opportunities, and Williams’ goal is to be the No. 1 or No. 2 player in every U.S. gas basin in which it operates, CEO Steve Malcolm said last week.

An incremental 10-15 Bcf/d of U.S. natural gas supply over the next 10-15 years creates “abundant” opportunities, and Williams’ goal is to be the No. 1 or No. 2 player in every U.S. gas basin in which it operates, CEO Steve Malcolm said Tuesday.

Houston-based midstream player Copano Energy LLC posted second quarter net income that was 74% greater than the year-ago period, $23.2 million (40 cents/unit) compared to $13.3 million (31 cents) a year ago. Credited for the improvement are abundant gas supplies and favorable commodity prices.

Houston-based midstream player Copano Energy LLC posted second quarter net income that was 74% greater than the year-ago period, $23.2 million (40 cents/unit) compared to $13.3 million (31 cents) a year ago. Credited for the improvement are abundant gas supplies and favorable commodity prices.

The Fayetteville Shale, where Southwestern Energy Corp. is the dominant player, powered double-digit production growth and profits for the company in 2Q2007. Gross daily natural gas output from its Arkansas leasehold was up four-fold from a year ago, to 200 MMcf/d from 50 MMcf/d in 2Q2006.

The Fayetteville Shale, where Southwestern Energy Corp. is the dominant player, powered double-digit production growth and profits for the company in 2Q2007. Gross daily natural gas output from its Arkansas leasehold was up four-fold from a year ago, to 200 MMcf/d from 50 MMcf/d in 2Q2006.

The merger of Norway’s Statoil ASA and Norsk Hydro ASA will create not only the world’s largest offshore oil and gas company, but an acquisitive-minded player that is expected to wield a much bigger stick in developing the deepwater Gulf of Mexico (GOM), analysts said last week. In the past two years, the companies have spent a total of $6 billion buying up property in the GOM, and executives said last week they expect to invest more resources in the region going forward.

The merger of Norway’s Statoil ASA and Norsk Hydro ASA will create not only the world’s largest offshore oil and gas company, but an acquisitive-minded player that is expected to wield a much bigger stick in developing the deepwater Gulf of Mexico (GOM), analysts said Monday. In the past two years, the companies have spent a total of about $6 billion buying GOM assets.