production

For the fourth consecutive year, global natural gas production grew in 2006 above the 10-year average, according to the BP Statistical Review of World Energy 2007. BP, which reviewed oil and gas output and consumption data through the end of last year, documented a 26.3 billion-cubic-meter (Bcm) gas inventory build in the United States, the European Union and Russia alone.

Denver-based independent Teton Energy Corp. has formed a drilling partnership with privately held Targe Energy Exploration & Production LLC to evaluate acreage in the Frenchman Creek prospect of the eastern Denver-Julesburg (D-J) Basin of Nebraska, an area that Teton suspects may yield up to 20 Bcf gross of natural gas resource potential.

Exploration and production (E&P) spending continues to look bright for the rest of 2007 — but most of the gains will come outside North America, according to a mid-year report by Lehman Brothers.

Exploration and production (E&P) spending continues to look bright for the rest of 2007 — but most of the gains will come outside North America, according to a mid-year report by Lehman Brothers.

Denver-based independent Teton Energy Corp. has formed a drilling partnership with privately held Targe Energy Exploration & Production LLC to evaluate acreage in the Frenchman Creek prospect of the eastern Denver-Julesburg (D-J) Basin of Nebraska, an area that Teton suspects may yield up to 20 Bcf gross of natural gas resource potential.

Dominion, which is selling off its extensive North American exploration and production (E&P) businesses, on Thursday said it will merge subsidiary Consolidated Natural Gas Co. (CNG) into Dominion Resources Inc. to streamline its corporate structure.

Reading between the lines from the experts gathered at GasMart 2007 in Chicago last week, domestic and Canadian natural gas production are at their limits and demand is increasing. Pipelines from the far north are years, possibly multiple decades or lifetimes away. Conventional wisdom is that liquefied natural gas (LNG) from overseas will fill in the gap; but will it? And what happens if it doesn’t?

Reading between the lines from the experts gathered at GasMart 2007 in Chicago last week, domestic and Canadian natural gas production are at their limits and demand is increasing. Pipelines from the far north are years, possibly multiple decades or lifetimes away. Conventional wisdom is that liquefied natural gas (LNG) from overseas will fill in the gap; but will it? And what happens if it doesn’t?

Pioneer Natural Resources Co. is joining a growing list of exploration and production (E&P) companies that are moving some of their mature oil and natural gas assets into master limited partnerships (MLP). The Dallas-based producer last week announced that it will spin off two MLPs, one to hold its Spraberry assets in West Texas, the other to hold its Raton Basin properties in southern Colorado.