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It took three decades, but an American natural gas producer has finally scored a coup that shows the walls of Canadian economic nationalism have crumbled.

Due to significantly higher revenues from producing activities, brought on by strong oil and natural gas prices, capital expenditures doubled and exploration and development activity increased by 73% in North America during 2000, compared with a capital spending decline of 14% throughout the rest of the world, according to Andersen’s recently released 2001 Global E&P Trends.

Due to significantly higher revenues from producing activities, brought on by strong oil and natural gas prices, capital expenditures doubled and exploration and development activity increased by 73% in North America during 2000, compared with a capital spending decline of 14% throughout the rest of the world, according to Andersen’s recently released 2001 Global E&P Trends.

Despite continuing anxieties over supplies, Canadian natural-gas producers increased exports to the United States by 13% during the 2000-01 heating season, records kept by the National Energy Board show.

The proposed Sonoran Pipeline project crossed its first hurdle yesterday as potential shippers expressed interest in an adequate amount of capacity on the proposed 1,030-mile gas pipeline. However, the market seemed to make those hurdles a bit taller as gas prices closed in on $2 in the Rockies and plummetting to nearly $5 at the border.

As he prepares to hand over the Senate Energy and Natural Resources Committee chairman’s gavel to Sen. Jeff Bingaman (D-NM), Sen. Frank Murkowski (R-AK) yesterday refused to completely reject the idea of placing caps on wholesale electricity prices in California. But, in an appearance before reporters at a Capitol Hill news conference on energy issues, the Alaska lawmaker also made it clear that he would first have to be assured that efforts to boost generation in the state would not be curtailed before he would consider the idea of a price cap on wholesale electricity prices in California.

With record levels of natural gas rigs in the ground, it’s about time the industry started showing results. Canadian Hunter Exploration Ltd. is doing just that, as the company announced last Tuesday an increase in gas production to 523 MMcf/d during the first quarter 2001, a jump of 36% over the similar time period a year ago, and a 7% rise from the fourth quarter 2000. As a result, the Calgary-based producer posted a 485% increase in net income to C$145.1 million, or C$2.38 per fully diluted share for the first quarter 2001.

With record levels of natural gas rigs in the ground, it’s about time the industry started showing results. Canadian Hunter Exploration Ltd. is doing just that, as the company announced on Tuesday an increase in gas production to 523 MMcf/d during the first quarter 2001, a jump of 36% over the similar time period a year ago, and a 7% rise from the fourth quarter 2000. As a result, the Calgary-based producer posted a 485% increase in net income to C$145.1 million, or C$2.38 per fully diluted share for the first quarter 2001.

Most energy and telecommunications companies have become involved in the convergence of the two industries within the last few years, and more consolidation is anticipated over the next few years, according to a recent survey conducted by consulting firm KPMG LLP. Respondents cited the sharing of infrastructure as the number one reason by a large margin that companies within the two industries are coming together.