Severe thunderstorms knocked out multiple natural gas processing plants near Empress, AB, on Tuesday evening, affecting several Bcf/d of processing capacity and significant production of ethane, propane and other gas liquids. TransCanada PipeLines said six processing plants and related operations lost power and suffered some damage, including plants owned by ConocoPhillips, EnCana, Atco, Inter Pipeline and BP Canada. No injuries were reported in any of the outages.
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Bingaman: Senate-Approved RPS to Relieve Pressure on Gas Prices
The Senate on Thursday narrowly approved as part of the omnibus energy bill a renewable portfolio standard (RPS) that mandates the increased use of renewable energy in the production of electricity, a move that could eventually reduce the amount of natural gas consumed by the generation sector and cause gas prices to taper off somewhat.
June 17, 2005
North American Rig Count Up 8% Over Year Earlier
The number of rigs drilling for oil and natural gas in North America last week jumped 8% over a year ago, as exploration and production companies continued to take advantage of higher commodity prices.
June 6, 2005
SEC Subpoenas El Paso for Hedging Documents
El Paso Corp. has received a subpoena from the Securities and Exchange Commission (SEC) related to some of its natural gas and oil production hedges, the company said in a Form 8-K filing on Tuesday.
June 2, 2005
Devon Plans to Keep Midstream, Marketing Assets
Calling its remaining midstream and marketing assets “vital” to Devon Energy Corp.’s exploration and production (E&P) business, investor relations chief Vince White said Thursday that the company has no plans to sell any of them.
May 30, 2005
Devon Plans to Keep Midstream, Marketing Assets
Calling its remaining midstream and marketing assets “vital” to Devon Energy Corp.’s exploration and production (E&P) business, investor relations chief Vince White said Thursday that the company has no plans to sell any of them.
May 27, 2005
Anadarko CFO to Retire, Two North American Execs Promoted
Anadarko Petroleum Corp. on Tuesday announced the pending retirement of CFO James R. Larson and the promotion of two executives within its North American exploration and production operations. Larson, a 25-year Anadarko veteran, said he will retire by the end of the year.
May 18, 2005
Lehman Finds E&P Share Buybacks Accelerate
The increasing maturity of North American oil and natural gas basins, combined with strong prices, have left many exploration and production (E&P) companies with more cash flow than places to use it, and many are taking the money to buy back shares, according to a research note by Lehman Brothers.
May 9, 2005
Scotian Regulatory Changes Amenable to Producers
To increase drilling and knock down barriers to exploration and production, Nova Scotia Minister of Energy Cecil P. Clarke said Tuesday that the province has improved its regulatory processes to collect more royalties and impose fewer penalties.
May 9, 2005
Lehman Finds E&P Share Buybacks Accelerate
The increasing maturity of North American oil and natural gas basins, combined with strong prices, have left many exploration and production (E&P) companies with more cash flow than places to use it, and many are taking the money to buy back shares, according to a research note by Lehman Brothers.
May 6, 2005
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