Reserves

Robert S. Boswell, architect of Forest Oil Corp.’s amazing growth as the independent increased its North American reserves five-fold and raised its equity value from less than $50 million to more than $1 billion in recent years, announced his resignation last week as CEO. He will retire as chairman and director at the end of September.

Robert S. Boswell, architect of Forest Oil Corp.’s amazing growth as the independent increased its North American reserves five-fold and raised its equity value from less than $50 million to more than $1 billion in recent years, announced Thursday he would resign as CEO immediately and retire as chairman and director at the end of September.

Inconsistent federal policies of encouraging natural gas use for environmental purposes and then restricting access to gas reserves are part of today’s disconnect in supply and demand, which has led to the shut-down of manufacturing plants that can’t pay the high prices, Lee Gooch, head of the Process Gas Consumers (PGC), said last week.

Inconsistent federal policies of encouraging natural gas use for environmental purposes and then restricting access to gas reserves are part of today’s disconnect in supply and demand, which has led to the shut-down of manufacturing plants that can’t pay the high prices, Lee Gooch, head of the Process Gas Consumers (PGC), said earlier this week.

Staking its future growth on building natural gas reserves, Calgary-based Penn West Petroleum Ltd. has unveiled a record exploration and development program for 2003 to reflect a strong inventory of Canadian prospects and a “favorable” commodity price outlook for the year.

Writedowns totaling $342 million related to investments in power generation assets and oil reserves in financially-troubled Argentina in the first half of the year added up to a net loss of $99 million for El Paso Tennessee Pipeline Co. for the six-month period ending June 30, the company announced Wednesday.

International conflict over natural gas produced offshore of Nova Scotia has spread to a new front, with Canadian demands for rights of first refusal clouding the outlook for the 80% capacity expansion proposed by Maritimes & Northeast Pipeline.

International conflict over natural gas produced offshore of Nova Scotia has spread to a new front, with Canadian demands for rights of first refusal clouding the outlook for the 80% capacity expansion proposed by Maritimes & Northeast Pipeline.

EnerSea Transport LLC, setting a course to bring offshore stranded reserves to North America by 2006 via a compressed natural gas (CNG) system, has added Kawasaki Kisen Kaisha Ltd. (K Line) to its maritime team, which will own and operate the future marine vessels. K Line’s alliance is part of EnerSea’s plan to deploy its Volume Optimized Transport and Storage system, otherwise known as VOTRANS.