Totaling

Remington Oil and Gas Corp. said last week that it ended 2004 with reserves totaling approximately 252 Bcfe, marking a 19% increase over year-end 2003 levels. The company’s reserves consist of 60% natural gas and 40% oil.

Remington Oil and Gas Corp. said Thursday that it ended 2004 with reserves totaling approximately 252 Bcfe, marking a 19% increase over year-end 2003 levels. The company’s reserves consist of 60% natural gas and 40% oil.

There are a total of 63 proposed natural gas liquefaction projects worldwide and about 41, totaling more than 30 Bcf/d of LNG supply, are likely to be built, according to a new assessment by Arlington, VA-based consulting firm Energy Ventures Analysis.

Oil and gas producers on Wednesday submitted 421 bids totaling $197.395 million for a chance to explore in the Western Planning Area of the Gulf of Mexico (GOM) in the Minerals Management Service (MMS) Lease Sale 192. Forty-five companies bid on 351 tracts, with most of the bids directed toward leases in shallow water. MMS estimates that production from the sale could result in 136-262 million barrels of oil and 0.81-1.44 Tcf of natural gas.

Las Vegas, NV-based Southwest Gas Corp. Thursday asked Nevada state regulators for separate rate hikes totaling $76.5 million for its north and south customers to cover increasing gas costs, with the bulk of the hike proposed for customers in the southern half of the state who do not have access to Canadian gas.

A class action lawsuit seeking treble damages totaling $5.2 billion has been filed by several small gas marketing companies against NiSource subsidiary Columbia Gas Transmission and two affiliates for antitrust violations starting in February 1996 and continuing today involving an alleged gas storage scheme in the Northeast.

Western Gas Resources Inc. said its proved reserves as of Dec. 31, 2002 increased 24% to 588 Bcfe with additions net of revisions totaling 162 Bcfe and 114 Bcfe net of production. The company noted that it replaced 334% of 2002 production of 48.7 Bcfe and its net production increased 34% in 2002.

Calgary-based Canadian Superior Energy Inc. completed an acquisition of a major acreage position in northwestern Alberta, totaling 22 sections of contiguous land located “updip” of the main Ladyfern natural gas field, which complements previously acquired land in this “highly competitive” natural gas play.

Two former Coastal Corp. futures traders agreed to pay fines totaling $70,000 and have been permanently banned from trading commodity futures on the New York Mercantile Exchange, according to settlement agreements reached with the Commodity Futures Trading Commission (CFTC). Clay Krhovjak of Belleville, TX, and Paul Cochran of Houston were charged in October 2001 with engaging in a fraudulent scheme to misappropriate and trade ahead of Coastal Corp. futures trades. The respondents neither admitted nor denied the underlying facts in the case.