Raised

Calling it “barely noticeable” to natural gas utility consumers, the Oregon Public Utility Commission (PUC) raised natural gas rates 0.7% for Spokane, WA-based Avista Utilities’ 92,355 Oregon customers, effective Tuesday. This is the first of two small gas rate hikes the PUC has authorized for Avista this year.

Oil and natural gas prices are near record levels and global excess production capacity is near historical lows, which in turn has raised demand for petroleum professionals. But the new workforce is nowhere in sight, according to Raymond James & Associates Inc.

Oil and natural gas prices are near record levels and global excess production capacity is near historical lows, which in turn has raised demand for petroleum professionals. But the new workforce is nowhere in sight, according to Raymond James & Associates Inc.

The sale of Crown petroleum and natural gas rights in Saskatchewan for February raised C$197 million for the province, more than doubling the old record of C$85 million set in 1994. The 2007-08 fiscal year total of C$419 million also set a record, more than doubling the previous record of C$202 million set in 1994-95, according to the Saskatchewan government.

The sale of Crown petroleum and natural gas rights in Saskatchewan for February raised C$197 million for the province, more than doubling the old record of C$85 million set in 1994. The 2007-08 fiscal year total of C$419 million also set a record, more than doubling the previous record of C$202 million set in 1994-95, according to the Saskatchewan government.

The marine fisheries division of the National Oceanic and Atmospheric Administration (NOAA) has raised serious questions about the adequacy of the draft environmental impact statement (EIS) being developed by FERC on NorthernStar Natural Gas’s proposed Bradwood Landing liquefied natural gas (LNG) receiving terminal.

The Virginia Supreme Court has agreed to hear an appeal by Houston-based GeoMet in its ongoing natural gas pipeline dispute with a CNX Gas Corp. affiliate over a 32-acre coalbed methane (CBM) play in Buchanan County, VA.

Fed by the success of its U.S. onshore natural gas operations, Devon Energy Corp. posted a 4.3% gain in quarterly profits and raised its year-end production guidance. The producer reported a 10% jump in quarterly oil and gas output — most of it through the drillbit — and it now expects to hit a 1 Bcf/d production rate by early 2009 in its core holding, the Barnett Shale.

Fed by the success of its U.S. onshore natural gas operations in 3Q2007, Devon Energy Corp. posted a 4.3% gain in profits and raised its year-end production guidance Wednesday. The producer showed a 10% jump in quarterly oil and gas output — most of it through the drillbit — and it now expects to hit a 1 Bcf/d production rate by early 2009 in its core holding, the Barnett Shale.