Totaled

Range Resources Corp. said Wednesday it increased reserves by 491 Bcfe or 72% last year. The company’s proved reserves as of Dec. 31, 2004 totaled 1.18 Tcfe, comprised of 943 Bcf of natural gas and 39 million barrels of oil and natural gas liquids.

Houston-based Marathon Oil Corp., the Equatorial Guinea government and the national oil company of Equatorial Guinea, Compania Nacional de Petroleos de Guinea Ecuatorial (GEPetrol), said last Tuesday they have finalized all the agreements for the companies’ Equatorial Guinea liquefied natural gas (LNG) project that would target deliveries to Lake Charles, LA.

Despite a $24 million loss taken on the sale of a UK-based retail energy marketer, San Diego-based Sempra Energy reported first quarter earnings that more than doubled results in the first quarter last year ($197 million, or 85 cents/share, versus $88 million, or 42 cents/share).

Higher natural gas prices in the third quarter continue to tell the tale for most of North American-based producers. However, asset sales, natural field declines and storm shut-ins also are playing a major role in quarterly financial reports.

Consolidated Natural Gas Co. (CNG) set records for both reserveadditions and production for 1998. Reserve additions in explorationand production totaled 413 Bcfe through additions, revisions, andpurchases, topping the company record of 368 Bcfe set in 1985.Included are 39 Bcf of reserves bought from The Peoples Natural GasCo., a CNG distribution company, late in 1998.