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Magazine - December 2003

This year had to be one of the strangest in the energy-financing arena. Wall Street threw a party, but not


FEATURES
GOOD WELL HUNTING

Oil and gas pools are found in numerous sedimentary basins, which occur throughout the world. Estimates indicate that nearly 30% ...

THE BARNETT BARRELS ALONG

Years after successful drilling began in the prolific Barnett Shale, operators continue to increase activity and expand to new counties. ...

A BIRD IN THE HAND IS WORTH...

How can you obtain new capital from your producing assets without giving up control over their operation, and more important, ...

MORE CONSOLIDATION AHEAD

For now, calm prevails as consolidation in the North American independent oil and gas industry proceeds at a sedate pace. ...

NEWSWELL
 
FROM THE EDITOR-IN-CHIEF
UNDER THE CHRISTMAS TREE

The Independent Petroleum Association of America claims IPAA members sent 2,800 e-mails to U.S. representatives in October and November urging ...

COMPLETIONS
PRESSURE IN SOUTH TEXAS

A couple of recent deals for South Texas gas assets have the oil and gas A&D business abuzz. Chesapeake Energy ...

TRENDS AND ANALYSIS
New Study Results: U.S. Producers Get Less For Their Spending

E&P operators' $218 billion in U.S. capital spending from 1998-2002 net them 3% fewer U.S. oil reserves-after production and revisions-and ...

E&P MOMENTUM
CBM sprouts in the Sunflower State

A new coalbed-methane (CBM) play is energizing the Forest City Basin in northeastern Kansas. Companies are leasing land and starting ...

EXPLORATION HIGHLIGHTS
EASTERN U.S.

1 Shell Offshore Inc., New Orleans, has reached total depth at its deepwater #1 OCS-G-23502 in the northeastern section of ...

GULF COAST

1 EOG Resources Inc., Houston, has set a 41/2-in. liner to an unreported depth at a horizontal wildcat in northwestern ...

MIDCONTINENT & PERMIAN BASIN

1 Mull Drilling Co. Inc., Wichita, permitted a remote test in a nonproducing region of northwestern Wichita County, Kan., some ...

WESTERN U.S.

1 Hexadyne Energy Co., Woodlands, Calif., has staked a wildcat well in Solano County, Calif. The company's #6-1 Feather River, ...

INTERNATIONAL HIGHLIGHTS

Husky Energy has drilled two successful delineation wells at White Rose Field in the Jeanne d'Arc Basin, offshore Newfoundland. The ...

NEW FINANCINGS
New Financings - Equity/Debt table

Equity Company Exchange / Symbol Headquarters Amount Comments Calpine Natural Gas Trust (Toronto: CXT) Calgary C$184.5 million Closed initial public offering of 18.5 million trust units at C$10 each. ...

COMPANY BRIEFS
What's so bad about Anadarko?

As rumors of a possible sale die down, analysts are taking another look at Anadarko Petroleum Corp. (NYSE: APC) and ...

South Texas reserves fetching strong prices

Two recent deals for South Texas gas assets have brought purchase prices of around $1.50 per thousand cubic feet of ...

Portfolio management shakes up BP asset mix

Since the fourth quarter of 2002, BP has dramatically overhauled its portfolio, selling some $4.6 billion of assets. The buyers ...

Kinder Morgan buys more of Yates Field

Marathon Oil Corp., Houston, (NYSE: MRO) has finalized plans to sell to Kinder Morgan Energy Partners LP (NYSE: KMP) its ...

Additional news

• Jon Cartwright, who left Raymond James in May to become the first director of investment research for BOSC Inc., ...

U.S. M&A news

• Patina Oil & Gas Corp., Denver, has acquired Cordillera Energy Partners LLC for $244.5 million in cash and stock, ...

Canadian M&A news

• Husky Energy Inc., Calgary, has acquired Marathon Canada Ltd. and the western Canadian assets of Marathon International Petroleum Canada ...

International M&A news

• Sibneft and Yukos have merged and created YukosSibneft Oil Co., Russia's largest oil and gas producer. The company may ...

E&P People

• Thomas Boudakian has been appointed chief financial officer of Aurado Energy Inc., Calgary. Boudakian was a senior vice president ...

ON THE MONEY
NOT ONE OF THE HERD

While other Wall Street market-makers this year were largely focused on capital-markets transactions for E&P companies, Goldman Sachs was primarily ...

EDITORS COMMENT
HEADLINES
COMPANIES IN THIS ISSUE
Companies in This Issue

1063339 Alberta Ltd. 76 4D Global Energy Advisors 74 A.G. Edwards 20 A.G. Edwards 5 A.T. Kearney 53 Adexco Production Co. 44 Advantage Energy Corp. 75 Alberta Energy Co. 51 American Leduc Petroleums Ltd. 76 Anadarko Petroleum ...



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