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Magazine - April 2003

With Wall Street's doors all but closed today to energy companies with asset sizes lower than $500 million, small independent


FEATURES
CANADIAN COMPETITION

This month EnCana Corp. marks its first anniversary as the only Maple Leaf member of the super-independent club, trading as ...

CREATING AN INDUSTRY

Born in 1915, the youngest child of John D. Rockefeller Jr., David Rockefeller shares the lessons he learned from his ...

THE END OF PRODUCTION TARGETS?

In recent times, markets have focused on production targets and delivery as a key measure of an upstream company's success. ...

AVOIDING THE PITFALLS ABROAD

Constrained Hydrocarbons, a hypothetical independent oil and gas company, has reached a crossroads. Having built up a strong production base ...

SEA OF GIANTS

The Caspian Sea region, sandwiched between Central Asia and the Caucasus, contains a wealth of oil and gas deposits, thanks ...

COOK INLET BASIN

The Cook Inlet Basin, Alaska's oldest and most mature producing area, is enjoying a burst of new activity. Several companies ...

MIDSTREAM IPOS

About one month before Crosstex Energy LP (Nasdaq: XTEX) launched its initial public offering, another midstream partnership-Martin Midstream Partners (Nasdaq: ...

PRICES UP

The Canadian acquisitions and divestitures market is by no means closed. The big and numerous deals of 1999-2001 have dried ...

RUSSIA: AN OVERVIEW

When visiting the Russian federation for the first time, one thinks of those thousands of unfortunate adventurers who, at different ...

CRUSHING DILEMMAS

Following hard on the heels of the dramatic changes in Russia in the early days of its rebirth, the country ...

DOORS WIDE SHUT

When Russian oil and gas executives talk, invariably the same concern comes up. Access to export markets is a matter ...

FUEL SERVICE

The need for oil and gas companies to valorize their assets and focus on financial management has been understood by ...

STANDING ON GAZPROM'S SHOULDERS

The Russian gas sector is a world of superlatives. Russia holds one third of the world's reserves-around 1,600 trillion cubic ...

LEGAL DOLLS

From the state of production-sharing agreements and taxation to pipeline-access rules, many questions remain. The Russian-American energy summit in Houston last ...

GETTING IN ON THE GROUND

It seems the bulls and the bears disagree about the oilfield service and supply industry's prospects for 2003 and beyond. ...

SERVICE BUYS

Signs of an impending increase in demand for oilfield services-from the drilling of wells to supplying specialized services and equipment ...

NEWSWELL
 
FROM THE EDITOR-IN-CHIEF
THE IRAQI QUESTION?

As the sun finally broke through the clouds in Houston last week after days of rain and fog, banks of ...

COMPLETIONS
BUYING AGAIN

If needing more capital to continue expensive deepwater Gulf of Mexico exploration, Devon Energy Corp. isn't the place one would ...

TRENDS AND ANALYSIS
Structural Tightness in the U.S. Natural Gas Market

Supply and demand trends for U.S. natural gas are diverging, and it will take a higher gas price to bridge ...

E&P MOMENTUM
LEASING & PERMITTING DATA

The Louisiana coast is a highly productive and prospective area, by areal extent as much as by actual output. It ...

EXPLORATION HIGHLIGHTS
INTERNATIONAL HIGHLIGHTS

Operators in India have been flush with success of late, reporting a string of large oil and gas discoveries. In ...

EASTERN U.S.

1 Marathon Oil Co., Houston, has scheduled its first Barracuda South prospect wildcat in DeSoto Canyon Block 927 in 8,499 ...

GULF COAST

1 Endeavor Energy Resources LP, Midland, plans four wildcat wells in Tarrant County, Texas, (RRC 5) all on undrilled surveys ...

MIDCONTINENT & PERMIAN BASIN

1 Anadarko Petroleum Corp., Houston, continues its exploration program in the Hugoton Embayment of western Kansas by scheduling three new ...

WESTERN U.S.

1 Denver-based independent Key Production Co. Inc. has completed its #1-8 Lady Raiders test in an unnamed field three miles ...

NEW FINANCINGS
New Financings - Equity/Debt table

Equity Company Exchange / Symbol Headquarters Amount Comments Oneok Inc. (NYSE: OKE) Tulsa, Okla. US$491.4 million Plans to sell 12 million newly issued shares and US$275 million of equity ...

COMPANY BRIEFS
Devon-Ocean combination to be stronger than parts

Devon Energy Corp. (Amex: DVN) plans to buy Ocean Energy Inc. (NYSE: OEI) in a $5.3-billion deal that would create ...

Chesapeake buys another $830MM of Midcontinent gas

In three deals in less than a month, Midcontinent upstream gas-asset consolidator Chesapeake Energy Corp., Oklahoma City, purchased $830 million ...

Additional briefs

• Duke Energy, Charlotte, N.C., is closing its merchant finance business, Duke Capital Partners LLC, which was formed in 2000 ...

U.S. M&A

• Talisman Energy Inc., Calgary, subsidiary Fortuna Energy Inc. has acquired gas properties, production and facilities in New York for ...

Canadian M&A

• Canadian Oil Sands Ltd. plans to acquire a 10% interest in the Syncrude project from EnCana Corp., Calgary, for ...

International M&A...

• Kerr-McGee Corp., Oklahoma City, plans to sell its interests in Kazakhstan to Shell Kazakhstan Development in a deal valued ...

ON THE MONEY
NEW FINANCING FACES

This past September, the ranks of Houston's private-capital providers increased with the debut of Macquarie Energy Capital, an arm of ...

EDITORS COMMENT
HEADLINES
COMPANIES IN THIS ISSUE
Companies in This Issue

3-Tec Energy 43 A&D Conference 116 A.G. Edwards and Sons, Inc. 35 ABN Amro Bank 121 Acclaim Energy Trust 123 Alberta Energy 51, 95 Amerada Hess Corp. 101, 108, 111, 124 Ammonite Capital Partners ...



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