Quarterly

Carrizo Oil & Gas Inc. finished 2009 with its proven reserves up 20% year/year (y/y) to a record 601.9 Bcf from 502.6 Bcf, the Houston-based explorer said Wednesday. Almost 97% of the quarterly and year-end production was natural gas, Carrizo said.

Carrizo Oil & Gas Inc. finished 2009 with its proven reserves up 20% year/year (y/y) to a record 601.9 Bcf from 502.6 Bcf, the Houston-based explorer said Wednesday. Almost 97% of the quarterly and year-end production was natural gas, Carrizo said.

In announcing that the Interior Department plans to hold 38 quarterly oil and natural gas lease sales for onshore public lands in 2010, Interior Secretary Ken Salazar took the occasion to blast oil and gas trade associations for uttering “untruths” about the department’s onshore and offshore leasing programs, saying they were acting like an “arm of a political party” during an election year by “repeatedly” launching attacks against the department.

A year has passed since the natural gas rig count peaked in October 2008, but “normalized” estimated quarterly gas supply from publicly traded producers didn’t cross into negative territory until July from the 1Q2009 peak, which points to “substantial uncertainties” for supply and demand drivers in 2010, energy analysts with Raymond James & Associates Inc. said Monday.

A new quarterly production record and reduced costs at Ultra Petroleum Corp. in 3Q2009 weren’t enough to overcome a noncash unrealized mark-to-market charge of $145 million on the company’s financial commodity contracts and the continued decline in natural gas prices, resulting in a loss of $8.33 million (minus 6 cents/share) compared with a profit of $116.9 million (74 cents) in 3Q2008, the Houston-based company said Friday.

A new quarterly production record and reduced costs at Ultra Petroleum Corp. in 3Q2009 weren’t enough to overcome a noncash unrealized mark-to-market charge of $145 million on the company’s financial commodity contracts and the continued decline in natural gas prices, resulting in a loss of $8.33 million (minus 6 cents/share) compared with a profit of $116.9 million (74 cents) in 3Q2008, the Houston-based company said Friday.

A quarterly oil and natural gas lease sale conducted by the Bureau of Land Management (BLM) last Wednesday netted about $13.3 million in revenues from the sale of leases on 48 federal parcels in New Mexico, Oklahoma, Texas and Kansas.

A quarterly oil and natural gas lease sale conducted by the Bureau of Land Management (BLM) Wednesday netted about $13.3 million in revenues from the sale of leases on 48 federal parcels in New Mexico, Oklahoma, Texas and Kansas.

The Bureau of Land Management’s (BLM) quarterly oil and natural gas lease sale in Utah went off without a hitch Tuesday, netting $1.07 million in bonus bids to develop acreage in the central and northeastern parts of the state.