Industry Briefs

Mitchell Energy announced that follow-up drilling in two TexasGulf coast exploratory plays has increased natural gas productionby 30 MMcf/d and oil production by 550 b/d. For November, thecompany’s overall daily production averaged 344 MMcf of gas and5,400 bbl of oil, excluding the effect of a two-day shutdown of itsBridgeport plant to complete connections that will increase theplant’s throughput capacity by 50% in late December. “Discovery ofthe Lower Wilcox and Lake Creek area wells is another example ofour ability to combine 3-D seismic technology with our extensiveknowledge in core field areas to add new reserves,” said CEO GeorgeP. Mitchell. “While the Barnett shale play in North Texas isclearly the driver for much of the company’s volume growth,drilling in our other core areas can also be quite attractive andadd significant production as well.”

December 13, 2000

Bigger Plays Await Canadian Drillers

Not all the action in Canadian natural gas fits the pattern thathas raised concerns over supplies for the next couple of heatingseasons -low-cost prairie drilling for quick hits of small reservesthat deplete rapidly.

December 4, 2000

Panda Strikes Turbine Deal with GE

Seeking to improve on their various generation plays across thecountry, Panda Energy International, Inc., signed an $800 millionlong-term service agreement contract with GE Power Systems coveringsix power plants currently under development, Panda said yesterday.The service agreements and commitment represents purchases of 24gas turbines and 12 steam turbines.

March 14, 2000

Strong Futures, Storage Plays Push Cash Higher

The March swing market continued to roar in like a lionWednesday, and it appeared that many traders are betting it won’tturn into a lamb between now and the end of the month.

March 2, 2000
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