Rich

XTO, whose focus is U.S.-based, estimates that its newest acquisitions are 90% natural gas and 50% proved developed and will add about 30 MMcfe/d to the company’s production base. Natural gas production in 2004 now targets an increase of 16% to 18%, up from the previous guidance of 13% to 15%. Most of the latest acquisitions are scheduled to close on or before Jan. 30.

Houston Exploration Co. said Monday it would acquire the entire shallow-water Gulf of Mexico asset base of Transworld Exploration and Production Inc., which is 75% natural gas, for $155 million.

Edge Petroleum Corp., whose gas-rich operations up to now have been centered on the onshore Gulf Coast and northern Rocky Mountains, on Tuesday expanded its focus with an agreement to explore an area of southeastern New Mexico’s Permian Basin with partners Pure Energy Group and Chisos Ltd. The area of mutual interest (AMI) agreement covers all of Eddy and Lea counties, as well as a portion of southern Chaves County, where Pure and Chisos own approximately 47,000 gross (27,000 net) acres.

Canadian natural gas exporters are dining out on the tight continental market, taking in rich increases in revenue from the United States at the same time as their ability to deliver continues to falter.

Canadian natural gas exporters are dining out on the tight continental market, taking in rich increases in revenue from the United States at the same time as their ability to deliver continues to falter.

The rich emerging from California’s tattered energy market may get richer later this year if California state regulators agree with an administrative law judge’s recommendation to reward Sempra Energy’s Southern California Gas Co. utility nearly $31 million for its gas-buying successes in 2001 that saved consumers an estimated $224 million in avoided wholesale costs for natural gas at a time when prices were skyrocketing.

The rich emerging from California’s tattered energy market may get richer later this year if California state regulators agree with an administrative law judge’s recommendation to reward Sempra Energy’s Southern California Gas Co. utility nearly $31 million for its gas-buying successes in 2001 that saved consumers an estimated $224 million in avoided wholesale costs for natural gas at a time when prices were skyrocketing.

With an enviable gas-rich exploration and production asset base and a growing natural gas storage network, EnCana Corp. remains steadfast in its prediction that it will grow about 10% a year through 2006, according to the president of its U.S. division. However, EnCana’s growth most likely will come from non-conventional drilling methods, including extracting coalbed methane (CBM) gas and multi-zone, tight gas exploitation.

With an enviable gas-rich exploration and production asset base and a growing natural gas storage network, EnCana Corp. remains steadfast in its prediction that it will grow about 10% a year through 2006, according to the president of its U.S. division. However, EnCana’s growth most likely will come from non-conventional drilling methods, including extracting coalbed methane (CBM) gas and multi-zone, tight gas exploitation.