Substantially

“Storm hype” just doesn’t seem to have the old price punch it used to. For the second week in a row the industry is seeing prices get substantially softer even as a hurricane heads into the Gulf of Mexico (GOM) production area. To be sure, the fact that the projected track of Hurricane Ike had been shifted more to the south — and thus farther from offshore infrastructure — was a major factor in prices dropping across the board Tuesday.

On a day when Nymex traders set the record bar for crude oil futures substantially higher, a continuation of frigid weather in some areas and the strongly supportive 31.7-cent advance by March natural gas futures the day before caused a majority of points to continue their ascent Wednesday.

Chalker Energy Partners II and Rusk Energy Ltd., a subsidiary of Chalker, sold substantially all of their oil and gas properties to NFR Energy LLC, the companies said Tuesday.

The second time proved a charm for Bear Stearns Cos. Inc., which Friday closed a deal to purchase substantially all of the power assets and the trading book of Williams.

The second time proved a charm for Bear Stearns Cos. Inc., which Friday closed a deal to purchase substantially all of the power assets and the trading book of Williams.

Duke Energy CEO Jim Rogers has two aspirations for the United States: to “substantially decarbonize” the energy supply in this century and to become the world’s most energy-efficient economy.

In a transforming deal, Newfield Exploration Co. plans to acquire substantially all of Stone Energy Corp.’s natural gas-heavy assets in the Rocky Mountains for $575 million cash. The assets, with proved reserves of 200 Bcfe and probable and possible reserves of more than 150 Bcfe, expand the independent’s reach in the Uinta and Williston basins and give it entry into the Green River, Powder River, Wind River and Northern Denver-Julesburg basins of Wyoming and the Southern Alberta Basin of Montana.

Stone Energy Corp. said Friday it had completed the sale of substantially all of its Rocky Mountain properties to Newfield Exploration Co. in two separate transactions worth $577.9 million (see NGI, May 21). Stone plans to keep a 35% proportional working stake in several undeveloped plays that are located on about 60,000 acres.

In a transforming deal, Newfield Exploration Co. plans to acquire substantially all of Stone Energy Corp.’s natural gas-heavy assets in the Rocky Mountains for $575 million cash. The assets, with proved reserves of 200 Bcfe and probable and possible reserves of more than 150 Bcfe, expand Newfield’s reach in the Uinta and Williston basins and give it entry into the Green River, Powder River, Wind River and Northern Denver-Julesburg basins of Wyoming and the Southern Alberta Basin of Montana.