Probable

Kerr-McGee has ramped up development of its Constitution field in the Gulf of Mexico (GOM), which is estimated to have proven and probable reserves of about 110 MMboe. First production is expected by mid-2006, with peak production expected to reach 40,000 bbl/d and 75 MMcf/d in 2007.

ONEOK Inc. has purchased 177.2 Bcfe of gas and oil reserves in East Texas with additional probable and potential reserves and related gathering systems from Wagner & Brown Ltd. of Midland, TX, for $240 million.

The U.S. Minerals Management Service (MMS) has raised its estimate of probable recoverable natural gas in the deep shelf area of the Gulf of Mexico by 175%, from 20 Tcf to 55 Tcf.

The U.S. Minerals Management Service (MMS) has raised its estimate of probable recoverable natural gas in the deep shelf area of the Gulf of Mexico by 175%, from 20 Tcf to 55 Tcf.

The probable cause of the fatal explosion on one of the mainlines of El Paso Natural Gas in August 2000 was “severe internal corrosion” of the line, the three-member National Transportation Safety Board (NTSB) concluded Tuesday, citing the pipeline’s inadequate corrosion-control program and lax oversight by the federal Office of Pipeline Safety (OPS).

While the shock of the probable demise of Enron monopolized conversation in all trading rooms (see related story), swing prices continued to shoot higher Wednesday as winter storms raged through much of the nation’s midsection and parts of the West. Cold temperatures were prevalent almost everywhere except in the Southeast and Mid-Atlantic states.