Returned

Mixed pricing returned to the market Wednesday. Western points generally ranged from flat to down nearly 30 cents, although Sumas and intra-Alberta managed small gains. The East had a few declines, mostly in South Texas, the Midcontinent and Northeast, amid overall numbers ranging from flat to a little more than a dime higher.

The Hurricane Ivan-damaged Petronius platform in the Gulf of Mexico has been returned to service and is currently producing 53,000 boe/d — about 75% of its pre-storm rate, according to Marathon Oil Corp. and ChevronTexaco Corp., co-owners. Efforts now are underway to ramp up to pre-storm production by the end of this month.

Pioneer Natural Resources and Dominion Resources announced that production from the Devils Tower field has returned to pre-Hurricane Ivan levels. Three wells are currently producing 28,000 boe/d on a gross basis, and a fourth well is expected to be producing by the end of November. Eight wells have been drilled to develop the field, but damage to the platform rig delayed completion activities related to the four remaining wells. However, the timeframe for resuming completion activities has improved, with potential for continued field development to begin by year end, the companies said. The financial impact of these delays is mitigated by business interruption insurance coverage that is designed to restore the expected cash flow from the project after a waiting period that ended on Nov. 1. Pioneer holds a 25% working interest in Devils Tower. Dominion operates the field with a 75% working interest. The field is located about 140 miles southeast of New Orleans on Mississippi Canyon block 773 in the deepwater Gulf of Mexico.

Pioneer Natural Resources and Dominion Resources announced that production from the Devils Tower field has returned to pre-Hurricane Ivan levels. Three wells are currently producing 28,000 boe/d on a gross basis, and a fourth well is expected to be producing by the end of November. Eight wells have been drilled to develop the field, but damage to the platform rig delayed completion activities related to the four remaining wells. However, the timeframe for resuming completion activities has improved, with potential for continued field development to begin by year end, the companies said. The financial impact of these delays is mitigated by business interruption insurance coverage that is designed to restore the expected cash flow from the project after a waiting period that ended on Nov. 1. Pioneer holds a 25% working interest in Devils Tower. Dominion operates the field with a 75% working interest. The field is located about 140 miles southeast of New Orleans on Mississippi Canyon block 773 in the deepwater Gulf of Mexico.

Pioneer Natural Resources and Dominion Resources announced that production from the Devils Tower field has returned to pre-Hurricane Ivan levels. Three wells are currently producing 28,000 boe/d on a gross basis, and a fourth well is expected to be producing by the end of November. Eight wells have been drilled to develop the field, but damage to the platform rig delayed completion activities related to the four remaining wells. However, the timeframe for resuming completion activities has improved, with potential for continued field development to begin by year end, the companies said. The financial impact of these delays is mitigated by business interruption insurance coverage that is designed to restore the expected cash flow from the project after a waiting period that ended on Nov. 1. Pioneer holds a 25% working interest in Devils Tower. Dominion operates the field with a 75% working interest. The field is located about 140 miles southeast of New Orleans on Mississippi Canyon block 773 in the deepwater Gulf of Mexico.

The cold weather that returned to key natural gas consuming regions this month could stay through April, leading to lower-than-expected season ending gas storage levels, Weather Services International (WSI) said in its spring forecast released on Monday. Meanwhile, power prices in the Northeast will be moderated by the cooler weather expected over the next three months, the company said.

The cold weather that returned to key natural gas consuming regions this month could stay through April, leading to lower-than-expected season ending gas storage levels, Weather Services International (WSI) said in its spring forecast released on Monday. Meanwhile, power prices in the Northeast will be moderated by the cooler weather expected over the next three months, the company said.

An Alabama jury on Friday returned an $11.9 billion judgment against Exxon Mobil Corp. over disputed natural gas royalties. The jury, which deliberated after a four-week trial, awarded the state $63.6 million in compensatory damages and $11.8 billion in punitive damages. The award was more than $9.3 billion than Alabama’s attorneys had asked for.

An Alabama jury on Friday returned an $11.9 billion judgment against Exxon Mobil Corp. in the state’s eight-year lawsuit over disputed natural gas royalties.