Wolf

The wolf could be at the door of tiny San Antonio, TX-based producer TXCO Resources Inc. any day. The company has run out of money, pledged most of its assets to creditors and is looking for options including a merger or sale. However, it does enjoy positive cash flow and could turn things around given enough time, CEO James Sigmon told investors Thursday.

The wolf could be at the door of tiny San Antonio, TX-based producer TXCO Resources Inc. any day. The company has run out of money, pledged most of its assets to creditors and is looking for options including a merger or sale. However, it does enjoy positive cash flow and could turn things around given enough time, CEO James Sigmon told investors Thursday.

Abraxas Petroleum Corp. said last week that its Canadian units, Canadian Abraxas Petroleum Ltd. and Grey Wolf Exploration Inc., have agreed to sell certain reserves and associated gas processing plants in Western Canada to a Canadian royalty trust for approximately $138 million.

Abraxas Petroleum Corp. said Tuesday that its Canadian units, Canadian Abraxas Petroleum Ltd. and Grey Wolf Exploration Inc., have agreed to sell certain reserves and associated gas processing plants in Western Canada to a Canadian royalty trust for approximately $138 million.

FERC’s pipeline marketing affiliate rule is about as effectiveas having a wolf guard the henhouse, says a Washington D.C. lawyerwho represents producers and independent marketers. Because ofescalating abuses in the market, he believes overhauling Order 497should be the first priority of the Commission in its post-Order637 dialogue with the natural gas industry.