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Feeling the heat over the budget deficit in Washington, Senate Republicans have used razor-sharp knives to cut the cost of the one-time $31 billion omnibus energy bill by more than half.

Kerr-McGee has ramped up development of its Constitution field in the Gulf of Mexico (GOM), which is estimated to have proven and probable reserves of about 110 MMboe. First production is expected by mid-2006, with peak production expected to reach 40,000 bbl/d and 75 MMcf/d in 2007.

The Energy Information Administration (EIA) in its Short-Term Energy Outlook for November used the word “robust” for the first time this year to describe the amount of natural gas in storage to meet customer demand. The unseasonably warm weather at the start of the winter heating season, reduced industrial demand, and historically high injections throughout the year are credited for the bulging inventory.

The New York Mercantile Exchange (Nymex) stepped up the competition with IntercontinentalExchange (ICE), the energy industry’s most widely used electronic over-the-counter (OTC) energy trading platform, by announcing plans to introduce its own trading platform designed for the OTC energy market. The system begins beta testing this week and will be launched in January.

The New York Mercantile Exchange (Nymex) stepped up the competition with IntercontinentalExchange (ICE), the energy industry’s most widely used electronic over-the-counter (OTC) energy trading platform, by announcing plans to introduce its own trading platform designed for the OTC energy market. The system begins beta testing next week and will be launched in January.

The method used by the Energy Information Administration (EIA) to compute maximum working gas in U.S. storage is different from that of its predecessor, the American Gas Association (AGA), and yields conflicting results, with the EIA’s estimate of full working gas levels much higher than AGA’s, the Department of Energy (DOE) agency said in a report last week.

The method used by the Energy Information Administration (EIA) to compute U.S. maximum working gas in storage is different from that of its predecessor, the American Gas Association (AGA), and yields conflicting calculations, with the EIA’s estimate of full working gas levels much higher than AGA’s, the Department of Energy (DOE) agency said in a report this week..

Mammoth equipment again will be used to track down the proverbial elephant-sized natural gas discoveries believed to be located in the shallow waters of the Beaufort Sea. Devon Canada has told the National Energy Board that it is leaning toward resurrecting one of the biggest exploration systems devised by the late Dome Petroleum Ltd. and its offshore hunting arm, Canadian Marine Drilling Ltd.

Mammoth equipment again will be used to track down the proverbial elephant-sized natural gas discoveries believed to be located in the shallow waters of the Beaufort Sea. Devon Canada has told the National Energy Board that it is leaning toward resurrecting one of the biggest exploration systems devised by the late Dome Petroleum Ltd. and its offshore hunting arm, Canadian Marine Drilling Ltd.