ChevronTexaco is having one of its best years ever exploration-wise, and is well on its way toward creating a global natural gas business, according to CEO Dave O’Reilly.
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Talisman Touts New Appalachian Properties, Expects to Beat 2003 Earnings Estimates
Canada’s Talisman Energy Inc. said it expects substantial cash flow and earnings from the $250 million in natural gas properties, production and facilities that subsidiary Fortuna Energy Inc. has acquired in northern New York State. The subsidiary has amassed 400,000 net acres of land in the Watkins Glen area with current production of 65 MMcf/d. Fortuna plans to spend $45 million in 2003, drilling up to 10 wells, shooting seismic and adding to existing infrastructure.
Talisman Touts New Appalachian Properties, Expects to Beat 2003 Earnings Estimates
Canada’s Talisman Energy Inc. said it expects substantial cash flow and earnings from the $250 million in natural gas properties, production and facilities that subsidiary Fortuna Energy Inc. has acquired in northern New York State. The subsidiary has amassed 400,000 net acres of land in the Watkins Glen area with current production of 65 MMcf/d. Fortuna plans to spend $45 million in 2003, drilling up to 10 wells, shooting seismic and adding to existing infrastructure.
Promax Energy Touts New Discovery; Outlines 2003 Production Plan
Calgary-based Promax Energy Inc. said Thursday that it has drilled a “significant” new Manville channel discovery well in southern Alberta. Drilled late in 2002, the Promax-owned natural gas well tested at an absolute open flow rate of 17.7 MMcf/d following a single point flow and build up test.
Promax Energy Touts New Discovery; Outlines 2003 Production Plan
Calgary-based Promax Energy Inc. said Thursday that it has drilled a “significant” new Manville channel discovery well in southern Alberta. Drilled late in 2002, the Promax-owned natural gas well tested at an absolute open flow rate of 17.7 MMcf/d following a single point flow and build up test.
BP Touts Hybrid Fiscal Package to Jump Start Alaskan Pipeline
Despite the Alaskan gas pipeline project being deemed uneconomic at the end of a study conducted by BP, ExxonMobil and ConocoPhillips, David Welch, BP president of Alaska-Canada Gas, said Thursday the company’s new fiscal package could not only make the project viable, but more importantly, could get it up and running by the end of 2011 if the energy bill goes through this year.
BP Touts Hybrid Fiscal Package to Jump Start Alaskan Pipeline
Despite the Alaskan gas pipeline project being deemed uneconomic at the end of a study conducted by BP, ExxonMobil and ConocoPhillips, David Welch, BP president of Alaska-Canada Gas, said Thursday the company’s new fiscal package could not only make the project viable, but more importantly, could get it up and running by the end of 2011 if the energy bill goes through this year.
NUI Touts Trading as Moody’s Puts Securities Under Review
Coming off of a tough week because of an announcement of lower earnings guidance, Bedminster, NJ-based NUI Corp. Thursday reaffirmed the positive performance of its energy trading and portfolio management business and declared its regular quarterly dividend on Thursday. The company said that while trading will be limited going forward because of its strict credit requirements on counterparties and declining liquidity in certain markets, the trading division is still expected to post relatively strong earnings.
NUI Touts Trading Performance
Coming off of a tough week because of an announcement of lower earnings guidance, Bedminster, NJ-based NUI Corp. Thursday reaffirmed the positive performance of its energy trading and portfolio management business and declared its regular quarterly dividend on Thursday. The company said that while trading will be limited going forward because of its strict credit requirements on counterparties and declining liquidity in certain markets, the trading division is still expected to post relatively strong earnings.
Xenergy Study Touts Untapped CA Energy Efficiency Potential
California could save billions of dollars and reduce the number of new power plants needed in the state by investing more heavily in energy efficiency, according to a new report released last week by Xenergy. The study found California can save up to 3,500 MW of peak demand and net over $8 billion in savings over the next decade by restoring public efficiency funding to just above 1994 levels (adjusted for inflation).