Scores

Before a packed crowd at FERC Thursday, scores of energy industry and publication executives proposed improvements in the system of collecting and compiling index prices for natural gas. Flaws in the system have been magnified by a “bright light being shown on the process” in the wake of charges that traders manipulated the indexes.

Echoing the concerns cited by Duke Energy earlier, scores of West Coast energy suppliers disputed FERC staff’s view that the California market monitoring rules provide the legal backing for the Commission to issue show-cause orders against them and other sellers, threatening the loss of market-based rate authority and/or alleged ill-gotten profits.

Echoing the concerns cited by Duke Energy earlier, scores of West Coast energy suppliers dispute FERC staff’s view that the California market monitoring rules provide the legal backing for the Commission to issue show-cause orders against them and other sellers, threatening the loss of market-based rate authority and/or alleged ill-gotten profits.

With its acquisitions of Mitchell Energy & Development Corp. and Anderson Exploration on the books last year, Devon Energy Corp. scored record oil and natural gas production and revenues in 2002, and also could boast that it pumped up its oil, gas and natural gas liquids (NGLs) reserve replacements by 278% at a low cost of $7.18/boe. This year, said management, will be no different.

Besides its record oil and natural gas production and revenues in 2002, Devon Energy Corp. also could boast Thursday that it pumped up its oil, gas and natural gas liquids (NGL) reserve replacements last year by 278% at a cost of $7.18/boe.

British energy giant Centrica plc continued its shopping spree in North America Tuesday, announcing it will pay C$128.5 million to purchase the natural gas and power businesses of Atco Ltd., which serves one million Alberta customers.

British energy giant Centrica plc continued its shopping spree in North America Tuesday, announcing it will pay C$128.5 million to purchase the natural gas and power businesses of Atco Ltd., which serves one million Alberta customers.

Rocky Mountains natural gas producer HS Resources Inc. agreed to a friendly merger with Kerr-McGee Corp. last week, in a deal that sent the San Francisco-based independent’s stock soaring almost 21%. The deal, which would boost Kerr-McGee’s gas reserves 77%, is a cash-and-stock merger worth about $1.25 billion, with Kerr-McGee also assuming $450 million of the independent’s debt.

Rocky Mountains natural gas producer HS Resources Inc. agreed to a friendly merger with Kerr-McGee Corp. yesterday, in a deal that sent the San Francisco-based independent’s stock soaring almost 21%. The deal, which would boost Kerr-McGee’s gas reserves 77%, is a cash-and-stock deal worth about $1.25 billion, with Kerr-McGee also assuming $450 million of the independent’s debt.