With major projects around the world scheduled to ramp up in the next few years, including two in the deepwater Gulf of Mexico, ChevronTexaco Corp. projected Tuesday that its oil and natural gas production will grow at a compounded average rate of 3% a year over the next five years to reach 3 MMboe/d by 2009.
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ChevronTexaco’s Start-Ups to Help Expand Annual Output 3%
With major projects around the world scheduled to ramp up in the next few years, including two in the deepwater Gulf of Mexico, ChevronTexaco Corp. projected Tuesday that its oil and natural gas production will grow at a compounded average rate of 3% a year over the next five years to reach 3 MMboe/d by 2009.
Hydrogen Industry Exec Sees Continued High Natural Gas Prices
“A tremendous ramp up of natural gas prices” over the past five years has been a shot of adrenaline for the fledgling hydrogen industry and those high prices are not going away, boding well for the further development of steps toward a hydrogen-based economy, according to Jon Slangerup, CEO of Ontario, Canada-based Stuart Energy, a provider of electrolysis-based hydrogen systems worldwide.
Regulators Suggest North American Producers Ramp Up Unconventional Gas Resources
(substituting for & correcting previous story in Daily GPI, April 20)
Regulators Suggest North American Producers Ramp Up Unconventional Gas Resources
With natural gas supplies continuing their downward trend, Oklahoma Energy Secretary David Fleischaker said Monday that unconventional natural gas resources and new northern gas pipelines should be the main focus for North American producers going forward — not liquefied natural gas (LNG).
U.S.-Based Drillers See More Rig Ramp-Ups as E&Ps Look for Natural Gas
Despite the mixed signals in the economy, U.S.-based land and offshore drilling contractors are reporting sequential gains for services and rigs over the first part of the year, especially by aggressive independents on the hunt for natural gas. And if gas prices remain high, most of the contractors expect the domestic rig count to rise both onshore and offshore through the rest of 2003.
U.S.-Based Drillers See More Rig Ramp-Ups as E&Ps Look for Natural Gas
Despite the mixed signals in the economy, U.S.-based land and offshore drilling contractors are reporting sequential gains for services and rigs over the first part of the year, especially by aggressive independents on the hunt for natural gas. And if gas prices remain high, most of the contractors expect the domestic rig count to rise both onshore and offshore through the rest of 2003.
EOG Expects to Grow Organic Gas Volumes in Last Six Months of 2003
EOG Resources Inc. said Tuesday that organic North American natural gas volumes will ramp up in the third quarter and grow even larger in the fourth quarter, with its programs here and in Trinidad generating “the expected results.” The Houston-based producer also reported that it tripled its income from a year ago and dropped its debt almost 7%.
Magnum Hunter Ups Capital Spending $15M
Magnum Hunter Resources Inc. on Tuesday boosted its 2003 capital expenditure plan by $15 million to $115 million, mostly to ramp up exploration work on new leases in the Gulf of Mexico (GOM). Of the increase, $14 million alone will be directed to offshore activities.
Meridian’s Second Biloxi Marshlands Well to Ramp Up
Houston-based Meridian Resource Corp. said Friday that another one of its Biloxi Marshlands wells should begin production within two weeks. Its first well began production in March and currently is producing 11.5 MMcf/d.