In just three years, the Burgos Basin in northern Mexico could be producing as much as 1.4 Bcf/d, which would add to the country’s current production level of 4.6 Bcf/d, according to Mexico Energy Minister Ernesto Martens. Of the current total, about 970 MMcf/d already is produced in the massive dry gas basin.
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Industry Brief
Pogo Producing said subsidiary Pogo Onshore Pipeline is up forsale. The subsidiary consists of 108 miles of six-inch diametersteel gas pipeline, which extends from Saginaw, TX, to WichitaFalls. The pipeline, formerly known as the Saginaw Pipeline,traverses parts of Tarrant, Wise, Montague, Clay and Wichitacounties, including the active Barnett Shale play. Also includedare 12 miles of smaller diameter pipeline. Pogo is offering to sellthese assets effective April 1. The property will be sold through anegotiated sale. For further information, contact Clint Wetmore atMadison Energy Advisors, (281) 876-2244 or check Madison’s web sitefor regular status updates at www.MadisonEnergy.com.
Rivals Pogo, Noric to Merge in $750 Million Deal
Houston-based Pogo Producing Co. added to its natural gas assetbase last week, announcing it will acquire cross-town rival NoricCorp. for $750 million in cash and debt, upping its reserve base by63% and increasing its projected annual 2000 production by 35% —with most of the new assets in natural gas fields in Texas,Louisiana and the Rocky Mountains. Noric is the parent corporationof North Central Oil Corp.
Phillips, Apache To Market Canadian Assets
With oil and natural gas prices soaring, the market for Canadianproducing and development properties has been heating up, asevidenced by property sales announced recently by PhillipsPetroleum and Apache Canada.
Rivals Pogo, Noric to Merge in $750 Million Deal
Houston-based Pogo Producing Co. announced yesterday it willacquire cross-town rival Noric Corp. for $750 million in cash anddebt, upping its reserve base by 63% and increasing its projectedannual 2000 production by 35% — with most of the new assets innatural gas fields in Texas, Louisiana and the Rocky Mountains.Noric is the parent corporation of North Central Oil Corp.
Phillips, Apache To Sell Canadian Assets
With oil and natural gas prices soaring, the market for Canadianproducing and development properties has been heating up, asevidenced by property sales announced recently by Phillps Petroleumand Apache Canada.
ExxonMobil Sees Gas in Cost, Technology Race
Supplying the growing demand for natural gas in the future willbe a foot race between the costs of producing it and the constantlychanging technology to market it. Marketers also have to leap twoimportant hurdles — regulations and taxes — before crossing thefinish line. Still, it’s a race with a lot of winners, says StuartMcGill.
ExxonMobil Sees Gas in Cost, Technology Race
Supplying the growing demand for natural gas in the future willbe a foot race between the costs of producing it and the constantlychanging technology to market it. Marketers also have to leap twoimportant hurdles — regulations and taxes — before crossing thefinish line. Still, it’s a race with a lot of winners, says StuartMcGill.
Raymond James Sends Chills Up Gas Buyers’ Spines
Raymond James and Associates gave gas buyers a Halloween shrieklast week that could be producing chills all the way through nextApril, perhaps even all of next year. The firm released a chillyforecast of double digit gas prices this winter and said it expectsprices to average $4.50/MMBtu in 2001.
Raymond James Sends Chills Up Gas Buyers’ Spines
Raymond James and Associates gave gas buyers a Halloween shriekyesterday that could be producing chills all the way through nextApril, perhaps even all of next year. The firm released a chillyforecast of double digit gas prices this winter and said it expectsprices to average $4.50/MMBtu in 2001.