Portfolio

As it shifts its portfolio toward more oily prospects, natural gas producer Williams Cos. said Monday it will pay $925 million to acquire 85,800 net acres in the Bakken Shale.

BP plc’s Gulf of Mexico (GOM) assets are a solid part of the portfolio, but the producer will review equipment and procedures before moving forward with any developments, CEO Bob Dudley said last week.

BP plc’s Gulf of Mexico (GOM) assets are a solid part of the portfolio, but the producer plans to review equipment and procedures before moving forward with any developments, CEO Bob Dudley said Tuesday.

McMoRan Exploration Co., which has built a sizable natural gas-weighted portfolio in the shallow waters of the Gulf of Mexico — and with it sizable drilling costs — saw its share price fall by double digits early last week after reporting a net loss in 3Q2010 of $25.3 million (minus 26 cents/share). Revenue in the latest quarter fell almost 13% from a year ago to $94.8 million.

McMoRan Exploration Co., which has built a sizable natural gas-weighted portfolio in the shallow waters of the Gulf of Mexico — and with it sizable drilling costs — saw its share price fall by double digits on Monday after reporting a net loss in 3Q2010 of $25.3 million (minus 26 cents/share). Revenue in the latest quarter fell almost 13% from a year ago to $94.8 million.

Moving forward with a plan to shift its focus from the Gulf of Mexico (GOM) to onshore oil assets, Plains Exploration & Production Co. (PXP) has agreed to acquire from multiple sellers interests in about 60,000 net acres in the Eagle Ford Shale in South Texas for $578 million in cash, the Houston-based independent said Tuesday.

While some see doom as the outcome if the United States fails to institute a national policy on carbon dioxide emissions or a renewable portfolio standard for power generation, a cadre of researchers predicts quite the opposite, and it’s mostly thanks to the country’s recently found abundance of natural gas, the role of gas in power generation, and electric vehicles.

While some see doom as the outcome if the United States fails to institute a national policy on carbon dioxide emissions or a renewable portfolio standard for power generation, a cadre of researchers predicts quite the opposite, and it’s mostly thanks to the country’s recently found abundance of natural gas, the role of gas in power generation, and electric vehicles.

Houston-based Plains Exploration & Production Co. (PXP) said Thursday it hopes to raise $1-2 billion by selling its Gulf of Mexico (GOM) portfolio either through third-party joint ventures or through asset sales “to align capital spending with operating cash flow.”