Forest Oil Corp. increased its North American oil and gas prospects this week after announcing it will purchase of The Wiser Oil Co., based in Dallas, for $330 million. Wiser, which produced 64 MMcfe/d in the first quarter, splits its exploration and production focus between Canada and the Permian Basin, and last year, its estimated proved reserves totaled 191 Bcfe, of which 51% were natural gas.
Prospects
Articles from Prospects
With Energy Bill Stuck in Senate, Lawmakers Seek Action on Energy Efficiency, Reliability
As the prospects for Congress passing a broad energy bill this year grow dim, Reps. Edward Markey (D-MA) and Randy “Duke” Cunningham (R-CA) last Wednesday introduced separate legislation aimed at bolstering the reliability of the electricity grid and easing run-away energy prices.
Shell Chairman Brushes Off Criticism, Affirms Long-Term Production Prospects
Under fire for overseeing the reclassification of 20% of the company’s oil and gas reserves in January, Royal Dutch/Shell Corp.’s chairman on Thursday brushed off calls for his resignation, and said he was determined to “fix” the reserves situation.
Shell Chairman Brushes Off Criticism, Affirms Long-Term Production Prospects
Under fire for overseeing the reclassification of 20% of the company’s oil and gas reserves in January, Royal Dutch/Shell Corp.’s chairman on Thursday brushed off calls for his resignation, and said he was determined to “fix” the reserves situation.
Exxon Mobil Ramps Up Production on Sable Project’s Tier 2
Kicking off the next phase of the Sable Island project, Exxon Mobil Corp. said last week that natural gas production has begun at the Alma field, the first Tier 2 production from the Sable project, located 125 miles offshore Nova Scotia.
Swift Energy’s Increased ’03 Budget to Improve LA Prospects
Houston-based independent Swift Energy Co. has increased its 2003 capital budget by 15%, or $20 million, to accommodate additional development drilling, facility upgrades and initial 3-D seismic work in fields located in Louisiana and New Zealand.
Canadian Natural to Build Prospects as Ladyfern Declines
With its Ladyfern field showing a sharp decline last year, Canadian Natural Resources Inc. plans to step up its exploration and production program in a recently acquired region of Alberta, sticking with a strategy to keep its natural gas production in North America on an equal pace with oil.
Canadian Natural to Build Prospects as Ladyfern Declines
With its Ladyfern field showing a sharp decline last year, Canadian Natural Resources Inc. plans to step up its exploration and production program in a recently acquired region of Alberta, sticking with a strategy to keep its natural gas production in North America on an equal pace with oil.
Milder Weather Prospects Result in Plunging Prices
If prices hadn’t been so abnormally high to begin with, it might have been considered a market meltdown. As it was, prices registered steep declines Friday that reached triple digits in the Northeast and at several other points. Rockies, Pacific Northwest and California quotes tended to see the smallest losses of 30-50 cents; otherwise it was rare for any point to fall by less than 60 cents.
El Paso Electric Outlines Prospects for Overall Settlement
El Paso Electric said Friday that it anticipates a final FERC ruling on its western energy crisis settlement no later than the end of 2003. EPE held a conference call to discuss and clarify the FERC trial staff settlement announced Thursday that resolves issues arising from the Federal Energy Regulatory Commission’s investigation into the company and Enron Corp (see Daily GPI, Dec. 6).