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Magazine - March 2004

Robust natural gas prices, new technology-and persistence-are improving drilling economics and success rates in northern Louisiana, making it attractive to


FEATURES
YEMEN

Trading has been an integral part of Yemen's ancient and complex history. Thousands of years ago, that trade centered on ...

A NEW FACE ON THE STREET

After more than two years without the E&P sector seeing an initial public offering (IPO) march to market, one finally ...

M&A 2004

In the free market, a scarce supply is allocated by the competitive market-clearing price. Scarcity-or perception of scarcity-has driven the ...

BEST E&P CATCHES

In a heady commodity-price environment where E&P stock valuations are reflecting bullish investor sentiment about the energy sector in general, ...

2003 OIL AND GAS INVESTOR EXCELLENCE AWARDS

With much pleasure, the editors of Oil and Gas Investor introduce our seven inaugural Excellence Award winners. We are proud ...

NEWSWELL
 
FROM THE EDITOR-IN-CHIEF
THE GOOD, THE BAD

The past few weeks have proved very colorful for the oil and gas business because extremes of good and bad ...

COMPLETIONS
THE NEXT BOE

A year ago, the market was surprised Devon Energy Corp. would follow a series of major acquisitions with yet another-the ...

TRENDS AND ANALYSIS
Small-Caps, Canadian E&Ps, Trusts Delivered the Most in 2003

It was hard not to love upstream equities last year. Almost all of them outperformed investors' expectations, driven to new ...

E&P MOMENTUM
ALBERTA'S CBM ACTIVITY ON THE RISE

Alberta has vast coal resources and these are receiving growing attention from operators interested in producing coalbed methane (CBM). The ...

EXPLORATION HIGHLIGHTS
Eastern U.S.

1 An exploratory test to 4,600 ft., designed to assess several potential producing formations, has been scheduled by Taubert Energy ...

Gulf Coast

1 Rippey Oil Co., Tyler, Texas, plans to drill the #1 Baker to 10,000 ft. in Jose Maria Mora Survey, ...

Midcontinent & Permian Basin

1 McGinness Oil of Kansas Inc., Wichita, Kan., plans to drill a wildcat to Cambrian Reagan in a nonproducing township ...

Western U.S.

1 Hamar Associates LLC, Ojai, Calif., has staked a location for a wildcat in Section 25-12n-2e in Sutter County, Calif. ...

International Highlights

The U.K. sector of the North Sea produced more than 4 million bbl. of oil equivalent per day in 2003, ...

NEW FINANCINGS
New Financings - Equity/Debt table

Equity Company Exchange / Symbol Headquarters Amount Comments Chesapeake Energy Corp. (NYSE: CHK) Oklahoma City US$298 million Sold 23 million shares at US$13.51 each. Stolt-Nielsen SA (Nasdaq: SNSA) London US$104 million Plans to sell ...

COMPANY BRIEFS
Ex-Triton execs launch Kosmos with $300 million

Private-equity providers Warburg Pincus and Blackstone Capital Partners have funded a new exploration company, Dallas-based Kosmos Energy LLC, formed by ...

California's Plains, Nuevo to combine operations

Adding to the handful of large U.S. public-public/stock-stock deals E&P since 2002, Plains Exploration & Production Co., Houston, (NYSE: PXP) ...

Forest Oil stock price survives reserve revision

Forest Oil Corp., Denver, (NYSE: FST) has delivered some anticipated bad news, but it was worse than expected. The company ...

Newly public Whiting to buy Equity Oil for stock

Whiting Petroleum Corp., Denver, (NYSE: WLL) plans to buy Equity Oil Co., Salt Lake City, (Nasdaq: EQTY) in a stock-for-stock ...

Additional briefs

• Joseph W. Foran and Scott King have formed Matador Resources Co., Dallas, to operate in the southwestern U.S. Foran, ...

U.S. M&A News

• Carlyle Group energy fund Riverstone Holdings will buy Mariner Energy Inc., Houston, for $271 million in a leveraged management ...

Canadian M&A News

• Enerplus Resources Fund, Calgary, has acquired Ice Energy Ltd. for C$123 million, plus assumed debt and working capital adjustments. ...

International M&A News

• Sydney, Australia-based Novus Petroleum Ltd. has received a counter-takeover offer by Crosby Capital Partners, which includes Novus chief executive ...

ON THE MONEY
CAUTION: DISCIPLINE AHEAD

Since late 2003, investors have become increasingly sanguine about the fundamentals of the oil and gas industry. But the recent ...

EDITORS COMMENT
HEADLINES
COMPANIES IN THIS ISSUE


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