Replaced

Duke Energy made the surprise announcement last Tuesday that Paul M. Anderson, former CEO of PanEnergy and more recently the Australian firm BHP Billiton, will take over from Duke’s retiring Chairman Richard B. Priory as chairman and CEO of the company, effective Nov. 1, 2003.

Duke Energy made the surprise announcement Tuesday that Paul M. Anderson, former CEO of PanEnergy and more recently the Australian firm BHP Billiton, will take over from Duke’s retiring Chairman Richard B. Priory as chairman and CEO of the company, effective Nov. 1, 2003.

Marathon Oil Corp. reported that it replaced 262% of its worldwide crude oil and natural gas production during 2002, excluding net sales of reserves in place. Total reserves increased 237 million boe, or 23% at year-end 2002, to 1,283 million boe.

Marking the ninth consecutive year that the company has replaced more than 100% of its reserves, ExxonMobil Corp. announced Tuesday that additions to its worldwide proved oil and gas reserves totaled 1.9 billion boe in 2002, replacing 117% of production, including property sales.

Kerr-McGee Corp. said it replaced 255% of its 2000 worldwideproduction of 108 million boe at an average finding and developmentcost of $4.81/boe. Worldwide net additions of proved oil andnatural gas reserves totaled 275 million boe in 2000, resulting inyear-end 2000 reserves of nearly 1.1 billion boe. Additions in 2000include reserves associated with the greater Boomvang and Nansenareas in the deepwater Gulf of Mexico and the greater Leadon areain the U.K. sector of the North Sea, each of which are currentlyunder development. The additions do not include the company’sdiscoveries in Bohai Bay, China, or at the Gunnison field in thedeepwater gulf. “The results of our exploration program in 2000were outstanding and build on our achievements in 1999,” saidKerr-McGee chairman Luke R. Corbett. “Our expertise andtechnological advancements continue to drive our success inworldwide exploration efforts. This year, we will grow ourdeepwater exploration program, focusing on core areas in proven,high-potential trends throughout the world.” In 2001, Kerr-McGeehas budgeted $205 million for exploration expense to drillapproximately 25 to 30 exploratory wells, including 10 to 15deepwater wells.

Tennessee lifted a pro rata seal through Secondary Services atthe Transco Rivervale meter Wednesday but replaced it with asimilar one at the Algonquin Mendon meter.

Barrett Resources Corp.’s board of directors elected Peter A.Dea, 46, vice chairman of the board and CEO last week. Dea replacedWilliam J. Barrett, 70, the founder of the company, and former CEO.The promotion became effective immediately. The board also said ithas increased its membership from nine to 10 people and that Mr.Dea has been elected to fill the new board position. Mr. Barrettwill be retiring as chairman of the board on March 31. Mr. Deajoined Barrett Resources in 1993 and has held various explorationgeologist positions prior to being promoted to senior vicepresident-exploration in 1996. In 1998, he was elected executivevice president-exploration. Barrett Resources is a Denver-basedindependent natural gas and oil exploration and production co. withproperties primarily in the Rocky Mountains, Midcontinent and GulfCoast.

Calgary, AB-based Alliance Pipeline and Aux Sable LiquidProducts said Norman R. Gish has replaced Dennis W. Cornelson aspresident and CEO effective immediately.

Vastar Resources replaced 215% of its 1998 production with newreserves, its highest-ever reserve replacement rate. Provedreserves additions totaled 1,052 Bcfe, or 1,023 Bcfe inclusive ofdivestitures. Year-end total reserves were a record 3,700 Bcfe, up17% over the year-end 1997 base. Average reserve replacement costs,including acquisitions, were $1.11/Mcfe.