Pursue

W&T Offshore Inc. on Thursday said it has made good on its plan to pursue acquisitions this year by grabbing stakes in three offshore properties in the Gulf of Mexico (GOM) from the U.S. subsidiary of Total SA. The purchase price was not disclosed.

Statoil ASA will continue to pursue opportunities both onshore and offshore in the United States, CEO Helge Lund said Wednesday.

Statoil ASA will continue to pursue opportunities both onshore and offshore in the United States, CEO Helge Lund said Wednesday.

BP plc’s U.S. arm plans to cease natural gas drilling in La Plata County, CO, for at least six months to pursue development opportunities elsewhere in the United States, the company said Thursday. The news comes as western states reported that gas output fell by double digits in 2009 from 2008.

Plains All American Pipeline LP intends to pursue an initial public offering (IPO) of common units representing limited partner interests of PAA Natural Gas Storage LP (PNGS), a master limited partnership (MLP) subsidiary to be formed to own and operate its gas storage assets and business. Plains said it expects that a registration statement for IPO will be filed during the first quarter. Plains will own the 2% general partner interest and incentive distribution rights of PNGS and expects to retain “a substantial portion” of the MLP’s common and subordinated units. Plains anticipates using the proceeds of the IPO to repay debt and for general purposes.

BP plc’s U.S. arm plans to cease natural gas drilling in La Plata County, CO, for at least six months to pursue development opportunities elsewhere in the United States, the company said Thursday. The news comes as states across the country reported that gas output fell by double digits in 2009 from 2008.

Commissioner Bart Chilton of the Commodity Futures Trading Commission (CFTC) Tuesday called on Congress to give the agency the authority to pursue criminal prosecution of fraud and manipulation in commodity futures markets.

Pointing to the uncertain economic times, EnCana Corp. pared next year’s budget by 18% over this year’s levels and said it would pursue a “conservative, prudent and flexible” program that would keep natural gas levels flat compared with this year. The company also delayed plans to split into two independent companies “until the uncertain financial markets stabilize.”

Pointing to the uncertain economic times, EnCana Corp. pared next year’s budget by 18% over this year’s levels and said it would pursue a “conservative, prudent and flexible” program and would keep natural gas levels flat compared with this year. The company also delayed plans to split into two independent companies “until the uncertain financial markets stabilize.”