Projects

Murphy Oil Corp. is selling off some of its conventional oil and gas properties in western Canada to free up some cash for projects in growth areas outside of North America. The properties for sale have total proved reserves of about 40 MMboe and currently produce 20 Mboe/d. The announcement was light on details, but the El Dorado, AR-based producer holds an interest in more than two million acres in western Canada. Although it did not detail what it would sell, Murphy plans to keep its Hybernia and Terra Nova properties off of Canada’s East Cost. The company also plans to retain its 5% stake in Syncrude Canada Ltd., which is the world’s largest producer of oil from oil sands. A Murphy spokeswoman said the properties for sale have garnered attention, especially by Canadian-based royalty trusts. Following the sale, the company most likely would use the proceeds to invest in “higher growth areas,” including Malaysia, where it is a large lease holder. Earlier this year, Murphy announced a significant discovery in Malaysia, which could contain 100-300 million bbl. In November, Murphy dropped its third quarter earnings profit $4.4 million because of costs from an unsuccessful natural gas well in Alberta. The gas prospect lowered Murphy’s third quarter net income by 5 cents/share.

Murphy Oil Corp. is selling off some of its conventional oil and gas properties in western Canada to free up some cash for projects in growth areas outside of North America. The properties for sale have total proved reserves of about 40 MMboe and currently produce 20 Mboe/d.

Although its higher profile energy scouting work these days involves potential wind generation sites, PPM Energy, the Portland, OR-based merchant energy operator in the United States for UK-based ScottishPower, is actively looking to buy or develop natural gas storage facilities. And the company is not confining its interest to the Pacific Northwest, according to company officials.

Although its higher profile energy scouting work these days involves potential wind generation sites, PPM Energy, the Portland, OR-based merchant energy operator in the United States for UK-based ScottishPower, is actively looking to buy or develop natural gas storage facilities. And the company is not confining its interest to the Pacific Northwest, according to company officials.

Florida Gas Transmission (FGT), which is jointly owned by El Paso Corp. and Enron Corp., said Wednesday that it placed the second half of its Phase VI expansion facilities into service at the start of the winter heating season on Nov. 1.

Florida Gas Transmission (FGT), which is jointly owned by El Paso Corp. and Enron Corp., said Wednesday that it placed the second half of its Phase VI expansion facilities into service at the start of the winter heating season on Nov. 1.

A proposal to substitute nuclear power for gas-fired generation has been laughed out of the northern Alberta oil sands — literally.

A proposal to substitute nuclear power for gas-fired generation has been laughed out of the northern Alberta oil sands — literally.

Southern Natural Gas and Transcontinental Gas Pipeline Corp. have asked FERC for the go-ahead to put their respective pipeline expansions in service by Nov. 1.