Right

When the price is right, it’s time to buy, even if you don’t need the assets. That was the rationale behind the decision of Calgary-based Canadian Natural Resources Ltd. to buy Anadarko Canada Corp. (ACC) for US$4.075 billion ($4.24 billion when including working capital adjustments).

When the price is right, it’s time to buy, even if you don’t need the assets. That was the rationale behind the decision of Calgary-based Canadian Natural Resources Ltd. to buy Anadarko Canada Corp. (ACC) for US$4.075 billion ($4.24 billion when including working capital adjustments).

Some producers circle the globe looking for reserves, but Fort Worth-based XTO Energy Inc. has found one of the hottest gas plays going right in its own backyard.

Right or wrong, the five-year-old perception that Enron Corp. caused California’s energy crisis in 2000-2001 remains fixed in the collective mind of the nation’s most populous state, and the reaction Thursday to the guilty verdicts against Enron’s two former leaders for the most part was that justice had been done, but the state’s electricity consumers continue to pay for the former executives’ misdeeds.

Natural gas got caught in the crossfire last week as Democratic and Republican proposals seeking to tackle $3-plus gasoline prices flew left and right when lawmakers returned to Capitol Hill following their Easter recess.

Superior Oil & Gas Co announced Thursday it had received a permit from the Bureau of Land Management for its pipeline right-of-way in Rio Blanco County, CO. Superior is designing a 12-inch, 18-mile gas pipeline capable of carrying up to 30 MMcf/d with a $0.60/Mcf gathering fee.”The announcement of this permit gives us another opportunity to create a revenue stream for our company,” stated Dan Lloyd, Superior’s CEO. “We continue to execute our business model through this permit and the previous agreements to purchase gas wells. In addition,we are targeting other properties and hope to inform our shareholders regarding the specifics in the near future.” Superior Oil & Gas Co., headquartered in Yukon, OK, has executed agreements to purchase over 28 gas wells in Kansas and continues to target other properties for acquisition.

As winter approaches it may be only a matter of time before the gas market bears run out of fundamentals pointing in their favor, but right now offshore gas production shut-ins are falling steadily, Texas production is on the rise, and the warm weather and downward price pressure continues.

Even with political alignment and the right economic metrics, the movement of Arctic natural gas to the Lower 48 states faces the challenge of pipe manufacturing limitations that should prevent the proposed Alaska and Canadian (Mackenzie Delta) pipeline projects being developed concurrently, a Houston-based Chevron executive told an industry audience in Los Angeles Wednesday.

Oklahoma City-based Devon Energy Corp.’s CEO said Wednesday that the best value on the market right now is his own company, which means that instead of making new acquisitions, the producer will instead concentrate on buying back its own shares.