Natural gas-fueled vehicles offer the strongest foreign oil-displacement message of all alternative fuel applications, and while there are only about 120,000 of them on U.S. roads now, they’re a growing force for energy independence and cleaner air, according to Richard Kolodziej, president of Natural Gas Vehicles for America (NGVAmerica).
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NGV Advocate: Gas is a Natural for Trucks, Fleet Vehicles
Natural gas-fueled vehicles offer the strongest foreign oil-displacement message of all alternative fuels, and while there are only about 120,000 of them on U.S. roads now, they’re a growing force for energy independence and cleaner air, according to Richard Kolodziej, president of Natural Gas Vehicles for America (NGVAmerica).
Pogo Reports Highest Profits in History; Reserves Up 15%
Houston-based independent Pogo Producing Co. on Tuesday reported the strongest earnings in its history, with 4Q2005 profits nearly tripled to $114.5 million ($1.98/share), compared with $38.3 million (60 cents) in 4Q2004. For full-year 2005, Pogo’s net income was $750.7 million ($12.43/share), compared with $261.75 million ($4.10) in 2004. Pogo, which has been on the short list of possible acquisition targets, also reported year-end reserves grew by 15%, its fourteenth consecutive year of growth.
New Gas Pipeline is 50% Stronger Than Steel, Improves Construction Economics
Exxon Mobil and TransCanada PipeLines demonstrated installation of a new pipeline (X120) that is 50% stronger than the strongest pipeline steel commonly used for gas transmission systems today (X80) and is expected to substantially reduce pipeline project costs. ExxonMobil said the new pipeline could substantially improve the economics of developing remote natural gas resources, such as reserves in Alaska or Russia.
New Gas Pipeline is 50% Stronger Than Steel, Improves Construction Economics
Exxon Mobil and TransCanada PipeLines demonstrated installation of a new pipeline (X120) that is 50% stronger than the strongest pipeline steel commonly used for gas transmission systems today (X80) and is expected to substantially reduce pipeline project costs. ExxonMobil said the new pipeline could substantially improve the economics of developing remote natural gas resources, such as reserves in Alaska or Russia.
Analyst Olson Sees Golden Age for Producers
The 10-year outlook for domestic gas and oil production companies is “probably about the strongest of any industry,” according to Sanders Morris Harris analyst John Olson. Wellhead revenues over this decade are expected to be near double that of the 1990s. There’s no shortage of conventional drilling opportunities. And investors are recognizing the value inherent in the industry.
Analyst Olson Sees Golden Age for Producers
The 10-year outlook for domestic gas and oil production companies is “probably about the strongest of any industry,” said Sanders Morris Harris analyst John Olson. Wellhead revenues over this decade are expected to be near double that of the 1990s. There’s no shortage of conventional drilling opportunities. And investors are recognizing the value inherent in the industry.
North American Producers Report Higher Quarterly Production
Four of the strongest North American-focused independents — Magnum Hunter Resources Inc., Ultra Petroleum, Nuevo Energy Co. and Talisman Energy Inc. — all saw their fourth quarter 2003 production volumes rise along with earnings. The production gains, they said, set the stage for even stronger results by the end of this year.
Utility Sector to Improve but More Surprises Likely for Troubled Companies
The worst may be over for the utility sector, with the value this year coming from investors identifying “improving” situations before their peers and credit ratings agencies “screw up the courage to follow,” according to a new report by CreditSights analysts.
PanCanadian, AEC Financials, Assessments on EnCana Merger
Despite a 74% drop in net income in the fourth quarter, Calgary-based PanCanadian Energy Corp. said it had the strongest annual financial results in its history because of higher natural gas prices earlier in the year, increased gas production and favorable price hedges. Due to lagging gas prices — neighbor and proposed merger partner — Alberta Energy Co. (AEC) experienced a drop in earnings during 4Q 2001, falling 83% from the fourth quarter of 2000 to C$80 million (C$0.46 per share diluted).