Vast

Stanley Horton, who once guided Enron Corp.’s vast natural gas pipeline system, was appointed Monday as COO and president of Cheniere Energy Inc. Horton, who is charged with helping Cheniere develop several liquefied natural gas (LNG) receiving terminals along the Gulf Coast, assumes his new position April 18.

Calgary-based EnCana is digging in to expand its vast coalbed methane (CBM) resources, announcing Tuesday an ambitious plan to develop 700,000 acres of property in southern Alberta — assets estimated to contain more than 2 Tcf of recoverable natural gas.

Another former Enron Corp. official, who had overseen finances for its vast Enron North America operations, has agreed to cooperate with federal officials — and he is expected to be a valuable addition to the prosecution’s case against the bankrupt trader.

Pioneer Natural Resources Tuesday reported a vast improvement in first quarter 2003 earnings over last year and a 45% growth in daily production over the last 12 months. Company officials predicted production would continue to grow at a 12% compounded annual rate over the next five years.

Signifying a changing of the guard of sorts, BP plc’s board said Thursday that Tony Hayward, 45, will succeed Richard Olver , 56, as CEO of BP’s vast Exploration and Production unit. Hayward most recently held the position of COO for Exploration and Production. Olver will replace Rodney Chase, 59, in his duties as deputy chief executive. BP said Chase will retire from the company on April 23, 2003, but will relinquish his role as deputy chief executive “with immediate effect.” Chase will remain on the board as senior advisor to BP CEO John Browne. In his new position, Olver will hold accountability for health, safety and the environment, human resources management, marketing, technology and digital business. BP said he will have regional responsibility for Europe (including Russia), the Middle East, Africa and the Americas. The board also announced that it intends to appoint Hayward, John Manzoni, 43, chief executive of Refining and Marketing, and David Allen , 48, group chief of staff, to the board as managing directors of BP, effective Feb. 1. The company said Allen will be accountable for economics and planning, corporate communications and senior management education.

Signifying a changing of the guard of sorts, BP plc’s board said Thursday that Tony Hayward, 45, will succeed Richard Olver, 56, as CEO of BP’s vast Exploration and Production unit. Hayward most recently held the position of COO for Exploration and Production. Olver will replace Rodney Chase, 59, in his duties as deputy chief executive. BP said Chase will retire from the company on April 23, 2003, but will relinquish his role as deputy chief executive “with immediate effect.” Chase will remain on the board as senior advisor to BP CEO John Browne. In his new position, Olver will hold accountability for health, safety and the environment, human resources management, marketing, technology and digital business. BP said he will have regional responsibility for Europe (including Russia), the Middle East, Africa and the Americas. The board also announced that it intends to appoint Hayward, John Manzoni, 43, chief executive of Refining and Marketing, and David Allen, 48, group chief of staff, to the board as managing directors of BP, effective Feb. 1. The company said Allen will be accountable for economics and planning, corporate communications and senior management education.

A vast majority of the cash market apparently decided to take it easy Wednesday and await further developments. Mild softness at a few Northeast points and losses between a nickel and 15 cents in San Juan Basin and the Rockies were the only aberrations in an otherwise basically flat price landscape.

“Vast resources” of oil and natural gas may underlie sheets of salt on the outer continental shelf (OCS), the Minerals Management Service (MMS) said in announcing approval of a final rule providing an extension of time for companies who are exploring to locate these resources.

While vast stretches of federal lands technically may be openfor oil and natural gas exploration, producers still are preventedfrom drilling on them because of restrictions in their leases and asevere backlog of drilling permitting requests, the CEO of theAmerican Petroleum Institute (API) said earlier this week.