Value

Devon Energy Corp., the biggest natural gas producer in the Barnett Shale, estimates that the natural gas in place from its half a million net acres of leasehold in the Haynesville Shale is around 73 Tcf. The company, which wants to add up to 100,000 more acres in the Haynesville play, also has taken a bet on the emerging Horn River Basin in British Columbia, where it now has around 100,000 net acres.

ConocoPhillips, the third largest U.S. oil company by market value, reported a surge in 2Q2008 net income on higher commodity prices. Overall, the Houston-based major’s North American natural gas production was down from a year ago, but the decline was partially offset by higher output from the company’s holdings in the San Juan Basin.

ConocoPhillips, the third largest U.S. oil company by market value, reported a surge in 2Q2008 net income on higher commodity prices. Overall, North American natural gas production was down from a year ago, but the decline was partially offset by higher output from the company’s holdings in the San Juan Basin.

Creating value in the supplier/marketer relationship requires knowledge of both the market and potential counterparties, a pair of consultants said during a panel discussion moderated by New York Mercantile Exchange’s (Nymex) Joe Raia, senior vice president of marketing, at GasMart 2008 in Chicago last week.

Creating value in the supplier/marketer relationship requires knowledge of both the market and potential counterparties, a pair of consultants said during a panel discussion moderated by New York Mercantile Exchange’s (Nymex) Joe Raia, senior vice president of marketing, at GasMart 2008 in Chicago Wednesday.

According to Mastio’s Natural Gas Pipeline Value/Loyalty Benchmarking Study for 2008, the “top three customer needs” of pipeline customers are reliable firm transportation, accurate scheduled volumes and honest and forthright communications.

A 74% spike in crude oil prices since the beginning of 2006 and a 28% dip in the value of the dollar against the euro have substantially affected the competitive positions of domestic energy industries, affecting imports and exports of both gas and coal, and changing usage patterns for natural gas, according to Charles Whitmore of FERC’s Office of Enforcement.

The U.S. Department of the Interior’s Minerals Management Service (MMS) Central Gulf of Mexico (GOM) Lease Sale 206 last Wednesday set an all-time record for the value of high bids received with a total of nearly $3.68 billion out of more than $5.74 billion in total bids, the MMS said.

A 74% spike in crude oil prices since the beginning of 2006 and a 28% dip in the value of the dollar against the euro have substantially affected the competitive positions of domestic energy industries, affecting imports and exports of both gas and coal, and changing usage patterns for natural gas, according to Charles Whitmore of FERC’s Office of Enforcement.