Promising

Kerr-McGee Corp. and Noble Energy Inc. said Monday that their Ticonderoga discovery well and initial sidetrack in the Gulf of Mexico encountered more than 250 feet of net high-quality hydrocarbon pay, primarily oil, in three zones. The companies — which own the discovery jointly — estimate that Ticonderoga, located on Green Canyon Block 768 in approximately 5,250 feet of water, offers potential resources of 30-50 million boe.

Aquila Inc. will exit its once promising gas and power business in Australia, where it had been an active participant since 1995, after agreeing to sell its assets for nearly $589 million to a consortium representing Australian-based AlintaGas, AMP Henderson and their affiliates.

A small but promising start has been made on biological engineering to eat — literally — an obstacle to producing about one-fourth of Canadian natural-gas reserves — so-called “sour” deposits laced with lethal hydrogen-sulphide.

A small but promising start has been made on biological engineering to eat — literally — an obstacle to producing about one-fourth of Canadian natural-gas reserves — so-called “sour” deposits laced with lethal hydrogen-sulphide.

PanCanadian Energy Corp. and MGV Energy Inc., the Canadian subsidiary of Quicksilver Resources Inc., announced first production from a promising new coal-bed methane (CBM) development in the Western Canadian Sedimentary Basin. The companies said they are planning a 250-well CBM development within the Palliser block in Alberta later in 2002.

PanCanadian Energy Corp. and MGV Energy Inc., the Canadian subsidiary of Quicksilver Resources Inc., announced first production from a promising new coal-bed methane (CBM) development in the Western Canadian Sedimentary Basin. The companies said they are planning a 250-well CBM development within the Palliser block in Alberta later in 2002.

While the California governor’s press people were promising anannouncement and then reneging late Thursday afternoon, at leastone other power supplier, Williams, announced signing a 10-year,1,400-MW deal with the state water resources department (DWR).Meanwhile, supply shortages eased considerably yesterday for thefirst time in about six weeks.

California may have to get in the natural gas business to fuelall of the added 5,000 MW of generation capacity Gov. Gray Davis is promising by this summer, the team of industry and state officialsleading the effort said Tuesday in a conference call with newsmedia. It was acknowledged that most of the added 5,000 MW expectedis gas-fired, and in many cases getting the added capacity onsitewill take more air emission changes and greater plans for fuelsupplies.

The Department of Interior’s Minerals Management Service (MMS)must carefully examine the option of including promising areas inits new 5-year leasing plan that have been subject to moratoria inthe past, the National Ocean Industries Association (NOIA) said.