The Oil & Gas Asset Clearinghouse   Online TourSubscribe
Magazine - November 2005

If London's Alternative Investment Market (AIM) were a motion picture, it likely would carry an R rating: for mature audiences


FEATURES
UPSTREAM AGAINST THE TIDE

Record-high oil and gas prices may be a welcome blessing for independent producers, but for energy lenders, it's a slightly ...

THE GRANITE WASH

The Texas Panhandle is rocking and rolling. The tight-sand Granite Wash play has expanded to cover hundreds of square miles, ...

THE GULF OF MEXICO

You might count the Gulf of Mexico down, but it is definitely not out. True, it is beset with tremendous ...

PAPUA NEW GUINEA

Offshore northwestern Australia, Papua New Guinea (PNG) is a country that has vast natural resources-hydrocarbons and many others-most of which ...

SERVICE-SIDE IPOs

Between 2002 and mid-2005, the market window for initial public offerings (IPOs) in the oil-service sector remained largely closed, after ...

UPSTREAM LEADERSHIP

When John Walker isn't deciding how to invest EnerVest Management Partners Ltd.'s 10th fund, he's visiting EnerVest's institutional investors or ...

NEWSWELL
 
FROM THE EDITOR-IN-CHIEF
Elasticity is Back

The long-dreaded impact of high oil and gas prices on the U.S. economy is starting to show in a number ...

COMPLETIONS
Private Exits

Privately held producers are rushing to exit at 2005 prices. "Some asset owners, particularly private producers, are concerned that commodity ...

TRENDS AND ANALYSIS
Canadian Juniors

In a market where all energy sectors are reaping the benefits of high commodity prices and growing demand, the Canadian ...

E&P MOMENTUM
Western U.S. Oil Shale

The U.S. Bureau of Land Management (BLM) has received 19 nominations for 160-acre parcels of public lands in its new ...

EXPLORATION HIGHLIGHTS
Eastern U.S.

1 Northeastern Monroe County, Miss., is the location of a wildcat planned by Spooner Petroleum Co., Jackson. The company will ...

Gulf Coast

1 Tyler, Texas, independent Barrow-Shaver Resources Co. brought in a discovery at its #1 Shiels Unit in Eliza R. Caraway ...

Midcontinent and Permian Basin

1 Castle Resources Inc., Schoenchen, Kan., completed a wildcat seven miles south and slightly west of Russell, Kan., through four ...

Western U.S.

1 Oil companies have asked for two new units on Alaska's North Slope, according to IHS Energy. Anadarko Petroleum Corp., ...

International Highlights

Yemen has been a fruitful area for a number of international operators, and several new exploration, development and infrastructure projects ...

NEW FINANCINGS
Equity/Debt Table

Equity Company Exchange / Symbol Headquarters Amount Comments Southwestern Energy Co. NYSE: SWN Houston US$521.5 million Priced up to 8.5 million common shares at US$61.35 each to fund capex ...

COMPANY BRIEFS
Oxy acquires California, foreign assets in Vintage

Occidental Petroleum Corp., Los Angeles, (NSYE: OXY) plans to acquire Vintage Petroleum Inc., Tulsa, (NYSE:VPI) for $20 in cash ...

Spinnaker exiting to Norsk Hydro

Norsk Hydro ASA, Oslo, Norway, (NYSE: NHY) plans to acquire Houston-based, Gulf-focused Spinnaker Exploration Co. (NYSE: SKE) for $65.50 per ...

Chesapeake to move into the Appalachian

Chesapeake Energy Corp., Oklahoma City, (NYSE: CHK) will expand its U.S. gas strategy into the Appalachian Basin with the acquisition ...

Bachmann: Storms took out all of September

Richard Bachmann can speak on crisis management. The chairman and chief executive of New Orleans-based Energy Partners Ltd. (NYSE: EPL) ...

Additional Briefs

• The Bank of Texas has announced new energy-lending team members. T. Coy Gallatin, executive vice president and manager, was ...

M&A News

• Privately held, Dallas-based Exco Resources Inc., dba TXOK Acquisition Inc., has completed the acquisition of oil and gas production ...

ON THE MONEY
Positioning for Profit

One of the hottest summers on record, back-to-back Category Three-plus hurricanes on the Gulf Coast, refinery disruptions and bottlenecks, plus ...

EDITORS COMMENT
Service-Side IPOs

Between 2002 and mid-2005, the market window for initial public offerings (IPOs) in the oil-service sector remained largely closed, after ...

Positioning For Profit

One of the hottest summers on record, back-to-back Category Three-plus hurricanes on the Gulf Coast, refinery disruptions and bottlenecks plus ...

London-Listed

If London's Alternative Investment Market (AIM) were a motion picture, it likely would carry an R rating: for mature audiences ...

Canadian Juniors

In a market where all energy sectors are reaping the benefits of high commodity prices and growing demand, the Canadian ...

Private Exits

Privately held producers are rushing to exit at 2005 prices. "Some asset owners, particularly private producers, are concerned that commodity ...

Energy Industry No. 2 In Litigation, Behind Healthcare

The average American energy company now faces 49 lawsuits, 10 internally initiated in the past year, according to a survey ...

EIA: Gas-Finding Improves, But Not From New Fields

Natural gas leads oil by a wide margin in domestic reserves replacement, and reserves replacement from new fields is disappointing, ...

Herold Panelists Debate Peak Oil: Fact Or Fiction?

Debate continues throughout the oil industry as to whether world oil production has peaked, or soon will, followed by a ...

Leggette: U.S. Needs National Energy Ethic

During the past half-century, the U.S. has made extraordinary progress toward an environmental ethic, according to L. Poe Leggette, a ...

Saudi Arabia: Refining Capacity Key To U.S. Energy Supply

In the face of pessimists, international crises and political turmoil, Saudi Arabia continues to stand behind its oil-production commitments to ...

Producers Make Gains As Costs Continue To Rise

Energy investors fared well in 2004 as shareholder returns reached record levels, but there were snags-upstream costs continued to rise ...

Elasticity Is Back

The long-dreaded impact of high oil and gas prices on the U.S. economy is starting to show in a number ...

Rigging Up The U.S. Fleet

The U.S. at present has some 1,700 land rigs, and rig contractors could add up to 191 new and refurbished ...

Drilling Permit Rate Continues To Grow On Strong Price Outlook

Drilling-permit issuance across 30 U.S. states is decidedly up since 1994, according to a survey by Lehman Brothers. James D. ...

Redrilling The Monell

Patrick Draw Field was discovered in 1959 in Sweetwater County, Wyoming, in the Green River Basin. The sizeable, oil-filled stratigraphic ...

HEADLINES
OXY Buys Permian Assets For $144MM

Occidental Petroleum Corp., Los Angeles, (NYSE: OXY) has purchased assets in the Permian Basin from an undisclosed seller for $144 ...

Schlumberger Acquires Minority Share In Packers Plus

Schlumberger Ltd., New York, (NYSE: SLB) has acquired a minority share in Canadian-based completions company Packers Plus Energy Services. Schlumberger ...

Harvest & Viking To Merge

Calgary-based Harvest Energy Trust (Toronto; NYSE: HTE) and Viking Energy Royalty Trust (Toronto: VKR.UN) have agreed to merge. The combined ...

Kerr-McGee Completes IPO For Chemical Business

As it transitions to a pure-play oil and gas exploration and production company, Kerr-McGee Corp., Oklahoma City, (NYSE: KMG) has ...

CCS Income Trust To Buy Waste Management Assets From Producers Oilfield

CCS Income Trust plans to acquire Producers Disposal Services Ltd. and Rycroft Disposal Well Inc. from Producers Oilfield Services Inc., ...

Energen To Buy Permian Basin Properties

Energen Resources Corp., a subsidiary of Energen Corp., Birmingham, Ala., (NYSE: EGN) plans to acquire Permian Basin properties from a ...

Swift Closes Acquisition Of South Bearhead Creek Interests

Swift Energy Co., Houston, (NYSE: SFY) has closed the acquisition of interests in South Bearhead Creek Field in Beauregard Parish, ...

Denbury To Buy Mississippi & Alabama Properties

Denbury Resources Inc., Dallas, (NYSE: DNR) plans to acquire oil properties in Mississippi and Alabama for $250 million from an ...

Boots & Coots To Buy Hydraulic Workover Business From Oil States

Boots & Coots International Well Control Inc., Houston, (Amex: WEL) plans to acquire the hydraulic workover business of Oil States ...

Norsk Hydro To Buy EnCana's Stake In Chinook

Norsk Hydro ASA plans to acquire a 50% interest in the Chinook heavy oil discovery, offshore Brazil, from EnCana Corp., ...

Canaccord Capital Buys Enermarket Solutions

Canaccord Capital Inc., Vancouver, (Toronto: CCI) has acquired Calgary-based advisory firm Enermarket Solutions Ltd. The entity will operate as part ...

Noble Royalties Completes $91MM Acquisition

Noble Royalties Inc., Dallas, has closed the acquisition of a royalty asset for $91 million. The acquisition was made through ...

Kerr-McGee Completes Exit From The North Sea

Kerr-McGee Corp., Oklahoma City, (NYSE: KMG) has completed the sale of 100% of the stock of Kerr-McGee (G.B.) Ltd. to ...

Unit Closes Acquisition For $82MM

Unit Petroleum Co., a wholly owned subsidiary of Unit Corp., Tulsa, Okla., (NYSE: UNT) has closed the acquisition of oil ...

Chesapeake Closes Columbia Natural Resources Acquisition

Chesapeake Energy Corp., Oklahoma City, (NYSE: CHK) has closed the acquisition of Columbia Natural Resources LLC and certain affiliated entities ...

Parallel Closes Permian Basin Acquisitions

Parallel LP, a subsidiary of Parallel Petroleum Corp., Midland, Texas, (Nasdaq: PLLL) has completed a portion of its acquisition of ...

Texas American Resources Buys D-J Basin Properties

Texas American Resources Co., Austin, Texas, has acquired several producing properties in the Denver-Julesburg Basin, northeast Colorado, for $70 million. The ...

Burlington To Buy Savell Field Assets

Burlington Resources Inc., Houston, (NYSE: BR) plans to acquire substantially all the assets of a privately held company that is ...

Fairfield Energy To Buy North Sea Interests

Fairfield Energy Ltd., a newly formed U.K.-based E&P company, plans to acquire certain subsidiaries from Acorn Oil & Gas Ltd., ...

Public Gas Partners Buys Some 115 Bcfe Of Reserves

Public Gas Partners Inc., Kennesaw, Ga., has closed three transactions and signed an agreement for a fourth transaction to purchase ...

PLS Signs Partnership With Burks Oil & Gas

Houston-based asset-brokers PLS Inc. and Burks Oil & Gas Properties Inc. have signed a partnership and joint-marketing agreement. Burks ...

Exxel Energy Acquires Columbia River Basin Interests

Exxel Energy (USA) Ltd., a wholly owned subsidiary of Exxel Energy Corp., Vancouver, (Toronto Venture: EXX) has acquired a 100% ...

Houston Exploration To Sell GOM Assets

The Houston Exploration Co., Houston, (NYSE: THX) has retained Wachovia Securities to sell its entire Gulf of Mexico asset base. ...

Samson Canada To Evaluate Strategic Alternatives

Samson Canada Ltd. has retained Scotia Waterous and BMO Nesbitt Burns to evaluate strategic alternatives. The company's producing properties are ...

Hercules Offshore Acquires Liftboat Fleet

Hercules Offshore Inc., Houston, (Nasdaq: HERO) has completed the acquisition of a fleet of eight liftboats from Danos & Curole ...

Increased Purchase Price For Dune's Acquisition Of Voyager Properties

Houston-based Dune Energy Inc.'s (Amex: DNE) planned acquisition of 95% of Voyager Partners Ltd.'s interest in producing and nonproducing oil ...

Chesapeake And Gastar Close Transaction

Chesapeake Energy Corp., Oklahoma City, (NYSE: CHK) has closed the acquisition of 19.9% of the common shares of Houston-based Gastar ...

Precision Completes Reorganization Into Trust

Precision Drilling Corp., Calgary, (Toronto: PDS) has completed its reorganization into an income trust, consisting of its Canadian contract drilling, ...

Kootenay To Buy Southeast Saskatchewan Assets

Kootenay Energy Inc., Calgary, (Toronto Venture: KTY) plans to acquire oil assets in southeast Saskatchewan for approximately C$2.1 million, including ...

Delta To Buy Castle Energy

Delta Petroleum Corp., Dallas, (Nasdaq: DPTR) plans to acquire Castle Energy Corp. King of Prussia, Penn., (Nasdaq: CECX) in exchange ...

Mullen Group Makes Unsolicited Takeover Offer For Pe Ben Oilfield

Mullen Group Income Fund, Aldersyde, Alberta, (Toronto: MTL.UN) has made an unsolicited takeover bid for Pe Ben Oilfield Services Ltd. ...

ATP Acquires Shelf Properties

ATP Oil & Gas Corp., Houston, (Nasdaq: ATPG) has acquired substantially all of the oil and gas properties of a ...

MAB To Buy Utah Leases

MAB Resources LLC plans to acquire three oil and gas leases covering approximately 6,400 net mineral acres in Box Elder ...

Energy Resource Technology Buys Interest In Tiger Discovery

Energy Resource Technology Inc., Houston, a wholly owned subsidiary of Cal Dive International Inc., (Nasdaq: CDIS) has acquired a 40% ...

COMPANIES IN THIS ISSUE
Companies in This Issue

Abarta Oil & Gas 71 ABN-AMRO 97 Albrecht & Associates 40 Amegy Bank 20 Anadarko Petroleum Corp. 31, 56, 69, 76 Ansbro Petroleum Co. LLC 76 Antero Resources Corp. 52 Apache ...



January  |  February  |  March  |  April  |  May  |  June  |  July  |  August  |  September  |  October  |  November  |  December