Replacing

Transportation Notes

Transco said it will be replacing mainline sections Wednesday through Saturday downstream of Station 35 near Houston. The work will be in a single-line section of its system, Transco said, and thus will isolate all points upstream of Station 35 from downstream points. Three meters will not be available during the outage, Transco said. It expected to keep FT services whole for shippers during the outage. See the bulletin board for further details.

June 10, 2009

Industry Briefs

ExxonMobil Corp. boosted its proven reserves in 2008 by 1.5 billion boe, more than replacing the amount of oil and natural gas it produced. The Irving, TX-based major said reserves added totaled 103% of the resources it produced last year. ExxonMobil had 22.8 billion boe of reserves at year-end 2008, split evenly between natural gas and oil. Excluding asset sales, the producer replaced 110% of its output. Using the Dec. 31, 2008 oil and gas prices required by the Securities and Exchange Commission to make reserves calculations, ExxonMobil replaced 136% of its output, the company said. Prices from a single day, it said, are not useful for making long-term investment decisions. At the end of 2008, ExxonMobil’s proved reserves base increased to 22.8 billion boe. The company’s reserves life, at current production rates, is 15.3 years. The portion of proved reserves already developed was estimated at 62%.

February 23, 2009

ExxonMobil Boosts Year-End Reserves

ExxonMobil Corp. boosted its proven reserves last year by 1.5 billion boe, more than replacing the amount of oil and natural gas it produced.

February 18, 2009

Nuclear Power Viewed as Replacement for Gas in Oilsands

Work on replacing natural gas as a fuel for Alberta oilsands production will accelerate under a research agreement between the provincial and United States governments, which is billed as a “milestone” for both sides

March 31, 2008

Nuclear Power Viewed as Replacement for Gas in Oilsands

Work on replacing natural gas as a fuel for Alberta oilsands production will accelerate under a research agreement between the provincial and United States governments, which is billed as a “milestone” for both sides

March 31, 2008

People

Brent J. Smolik, currently president of ConocoPhillips Canada, will take over as president of El Paso Exploration & Production Co. on Nov. 1, replacing Lisa Stewart, who resigned in August. Smolik earned a bachelor’s degree in petroleum engineering from Texas A&M University in 1983 and worked for ARCO as a drilling and reservoir engineer. In 1990, he joined Burlington Resources as a reservoir engineer and acquisition coordinator. He went on to hold engineering supervisory and management positions in the Denver, Offshore, San Juan and Gulf Coast Divisions. He then served as vice president, chief engineer in Houston until relocating to Calgary in 2004, where he became president of Burlington Resources Canada. Following the merger in March, he remained in Calgary and became president of ConocoPhillips Canada.

October 23, 2006

People

Brent J. Smolik, currently president of ConocoPhillips Canada, will take over as president of El Paso Exploration & Production Co. on Nov. 1, replacing Lisa Stewart, who resigned in August (see Daily GPI, Aug. 4). Smolik earned a bachelor’s degree in petroleum engineering from Texas A&M University in 1983 and worked for ARCO as a drilling and reservoir engineer. In 1990, he joined Burlington Resources as a reservoir engineer and acquisition coordinator. He went on to hold engineering supervisory and management positions in the Denver, Offshore, San Juan and Gulf Coast Divisions. He then served as vice president, chief engineer in Houston until relocating to Calgary in 2004, where he became president of Burlington Resources Canada. Following the merger in March, he remained in Calgary and became president of ConocoPhillips Canada.

October 17, 2006

Transportation Notes

Northwest said issued a declared deficiency period beginning Sept. 8, 2005 and lasting 24 hours. The pipeline is replacing several segments of its mainline containing anomalies that were discovered earlier this year. The segments are located just north of the Cisco Compressor Station between milepost 195 and milepost 213. Since there will be no flow through the mainline during the deficiency period, Northwest will cut nominations to zero. Grand Gas Receipt, Harley Dome Delivery, and Grand Valley Receipt will be shut-in.

September 8, 2005

Moody’s Launches Review of Burlington Resources for Upgrade

Moody’s Investors Service has launched a review of Burlington Resources Inc.’s debt ratings, which it said was prompted by the producer’s success in replacing reserves and increasing production. Burlington’s “trend of operational success” and “strong financial profile,” has been aided by financial discipline and a “buoyant oil and natural gas price environment.”

August 26, 2005

Kelliher Expected to be Named FERC Chairman

Commissioner Joseph T. Kelliher is expected soon to be named chairman of the Federal Energy Regulatory Commission, sources have told NGI, replacing the current Chairman Pat Wood, whose term ends Thursday, June 30.

June 30, 2005