The past came back to haunt Houston-based EOG Resources Inc. in the fourth quarter, after it was snagged with a $19.2 million charge related to former parent Enron Corp. EOG reported a net loss of $27.6 million, or 24 cents a share, compared with net income of $158.7 million, or $1.33 a share, for the fourth quarter of 2000. The charges related just to Enron cost EOG 11 cents a share, estimated at $12.3 million after taxes.
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Articles from Total
EEA Sees Deepwater Gulf’s Gas Role Growing
Due to the recent drilling successes in the deepwater play of the Gulf of Mexico, Energy and Environmental Analysis Inc. (EEA) said it expects total deepwater production to grow from the year 2000 rate of 3.6 Bcf/d to 6.1 Bcf/d by 2003, and into the 9-10 Bcf/d range by 2010.
January 7, 2002
EEA Sees Deepwater Gulf’s Gas Role Growing
Due to the recent drilling successes in the deepwater play of the Gulf of Mexico, Energy and Environmental Analysis Inc. (EEA) said it expects total deepwater production to grow from the year 2000 rate of 3.6 Bcf/d to 6.1 Bcf/d by 2003, and into the 9-10 Bcf/d range by 2010.
January 4, 2002
Transportation Notes
Total Opal Plant tailgate nominations to interconnecting pipelines (Northwest, Kern River and CIG) will be cut by 350,000-370,000 dekatherms today due to tie-in work being performed by the operator of the Jonah Field. In conjunction with the Jonah work, Williams Field Services has scheduled a tie-in to be completed by Thursday morning, but it is not expected to required any additional reductions in nominations.
December 4, 2001
Record Drilling Aside, U.S. Gas Production Declines; Canada Up
Despite record natural gas drilling begun in 2000 and boosted through mid-year, U.S. production may actually show a year-over-year decline by the time fourth quarter reports are released, according to energy analysts following quarterly reports by exploration and production (E&P) companies. However, in Canada, September natural gas production is up and will be up at the end of the year, putting more pressure on prices and E&P values both in the Lower 48 and Canada as pipeline capacity fills up.
November 12, 2001
Abraxas Extends Exchange Offer for Grey Wolf
San Antonio-based Abraxas Petroleum Corp. has extended its share exchange offer for Grey Wolf Exploration Inc. until Sept. 28. A total of 5.9 million shares of Grey Wolf, representing 88% of what Abraxas and its Canadian Abraxas did not own, have now been tendered and taken up, giving Abraxas 94% of the common outstanding shares of Grey Wolf.
September 19, 2001
Transportation Notes
Florida Gas Transmission discontinued an Overage Alert Day notice Wednesday, saying total linepack and operating conditions had improved.
July 19, 2001
Wisconsin Gas to Terminate Gas Choice Pilot After 5 Years
Throwing in the towel on its natural gas choice pilot program after five years of service, Wisconsin Gas Co. (WGC) notified a total of 3,485 customers who were participating in the program that beginning Oct. 31 they would once again have to purchase their gas supply from their utility, WGC.
June 11, 2001
Wisconsin Gas to End Gas Choice Pilot
Throwing in the towel on its natural gas choice pilot program after five years of service, Wisconsin Gas Co. (WGC) notified a total of 3,485 customers who were participating in the program that beginning Oct. 31 they would once again have to purchase their gas supply from their utility, WGC.
June 7, 2001
El Paso Says Hedging Losses Argue Against Market Power
El Paso Merchant Energy racked up a total of $691 million in hedging losses in the first 13 months of its contract for 1.2 Bcf/d of capacity on affiliate El Paso Natural Gas, making it imperative for the trading arm to flow as much gas as it could to California to help make up those losses, the company revealed in a Federal Energy Regulatory Commission hearing this week.
May 17, 2001
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