Spend

Kinder Morgan Energy Partners LP (KMP) said it will spend $76 million to expand its Dayton natural gas storage field in Liberty County, TX to increase capacity. The project, which involves development of a new underground cavern, will add an estimated 5.5 Bcf of incremental working gas storage capacity. Two existing storage caverns currently provide 4.2 Bcf of working gas capacity.

Oil and gas companies are expected to spend about $3.8 billion between 2005 and 2008 on the Fayetteville Shale play in Arkansas, according to a University of Arkansas study.

Petro-Canada on Thursday agreed to spend C$3.4 billion for its capital and exploration program in 2006, nearly equal to the amount spent this year. However, the producer will raise its spending on North American natural gas programs to C$850 million from the C$700 million spent this year in part to focus on expanding output in Western Canada and the U.S. Rockies.

Australia’s Woodside Petroleum said Monday that it will spend about AU$3 billion (US$2.28 billion) to build a natural gas liquefaction plant to serve its Pluto gas field off the coast of Western Australia. The estimated gas resource in the field totals 3.5 Tcf. Deliveries to the United States and Asia are scheduled to begin in 2010.

Kerr-McGee Corp. will spend about 20% more in 2005 to pump up exploration efforts in the Rockies, the company said last week. Production is expected to rise 15-19% over this year, with oil and natural gas output ranging between 355,000-370,000 boe/d, weighted 55% to natural gas and 45% to liquids.

Kerr-McGee Corp. will spend about 20% more in 2005 to pump up exploration efforts in the Rockies, the company said Tuesday. Production is expected to rise 15-19% over this year, with oil and natural gas output ranging between 355,000-370,000 boe/d, weighted 55% to natural gas and 45% to liquids.

Kerr-McGee Corp. will spend about 20% more in 2005 to pump up exploration efforts in the Rockies, the company said Tuesday. Production is expected to rise 15-19% over this year, with oil and natural gas output ranging between 355,000-370,000 boe/d, weighted 55% to natural gas and 45% to liquids.

Cinergy Corp. Thursday asked the Securities and Exchange Commission (SEC) to increase the limit on the amount it may spend on unregulated businesses, including cogeneration services and natural gas marketing, by $2 billion, saying the “need for greater investment capacity is driven largely by the success” of the two businesses.

Calgary-based Talisman Energy Inc. said it plans to spend a record C$2.35 billion on exploration and development in 2004, of which, C$1.13 billion is earmarked for North America. The company also reconfirmed its annual production growth expectations of 5-10% per share through 2006.