Stands

Newfield Exploration Co. stands to gain a big leasehold in the Maverick Basin of South Texas under an agreement with TXCO Resources Inc., which filed for bankruptcy earlier this year.

Renewable energy stands to benefit the most from Obama administration policies, but natural gas will be lifted as well, according to energy executives who responded to a recent poll. However, energy independence is wishful thinking for at least the next two decades, and mass production of power from renewable sources won’t come any time soon either, they said.

Natural gas still stands out as Alberta’s revenue star, but the provincial government expects it to fade gradually despite royalty increases as aging production naturally subsides and sales competition grows in international markets.

Natural gas still stands out as Alberta’s revenue star, but the provincial government expects it to fade gradually despite royalty increases as aging production naturally subsides and sales competition grows in international markets.

Quick. Name a female CEO in charge of an oil and gas company in the United States. There may be a handful, but in a business dominated by men, Lisa Stewart stands out.

A group of more than 50 European investors stands to collect a record US$352.6 million, plus administrative costs, from Royal Dutch Shell to settle a class action lawsuit filed over the producer’s alleged overbooking of oil and natural gas reserves over a five-year period. A U.S. settlement is expected in the next few weeks.

A group of more than 50 European investors stands to collect a record US$352.6 million, plus administrative costs, from Royal Dutch Shell to settle a class action lawsuit filed over the producer’s alleged overbooking of oil and natural gas reserves over a five-year period. A U.S. settlement is expected in the next few weeks.

Daily offshore oil and natural gas production worldwide, which currently stands at about 43 million boe, will grow to 53 million boe in 2010, which in turn will drive forecasted worldwide annual oil company spending from $193 billion to $248 billion, according to a new study by Douglas-Westwood Ltd. But the authors warned that resource-limited growth will be an increasing concern in the coming years.

Gulf of Mexico shut-in gas production was 1.954 Bcf/d as of Thursday afternoon, according to the Minerals Management Service. The amount is equivalent to 19.54% of daily Gulf gas production, which currently stands at about 10 Bcf/d.