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Magazine - January 2006

Exploration in new shale plays, development in tight-gas sands and rejuvenation of old fields are blowing sweeping changes through Texas'


FEATURES
Step Change

Will a smaller asset base be the unexpected key to growth? In today's pricing environment, many independents are grabbing assets ...

Stranded No More

Stranded gas is generally thought of as being in remote locations far from market infrastructure, often in exotic international basins. ...

Financial Due Diligence

With merger and acquisition activity in the oil patch likely to continue at a brisk pace for the foreseeable future, ...

Mezzanine Money

In today's world of frothy oil and gas prices, an independent's access to traditional bank debt isn't much of a ...

Gas Transition

Trends show U.S. gas production on a steady decline, despite a nearly all-out push by E&P companies in recent months ...

Downspacing for Gas

How many straws does it take to drain the milkshake? It depends on how thick or viscous it is and ...

Midstream Marriages

Deep-pocketed financial players, such as commercial banks and investment banks, are being drawn to the midstream market, where they are ...

Choosing an International Strategy

The year 2006 should be the tipping point for independents seeking to internationalize. Pushed by internal and external stakeholders who ...

NEWSWELL
 
FROM THE EDITOR-IN-CHIEF
Hop on the Rocket

Last year was one of the most dramatic ever in the oil and gas industry. The repercussions of it will ...

COMPLETIONS
Finding VS. Buying

Across the globe, producers report that the economics of drilling reserves today are better than buying them, according to a ...

TRENDS AND ANALYSIS
E&P MOMENTUM
The Wolfcamp

A horizontal drilling play in the Lower Permian Wolfcamp is piquing interest in northwestern Eddy and southern Chaves counties, New ...

EXPLORATION HIGHLIGHTS
Eastern U.S.

1 Chevron Corp. will move forward at its $900-million Blind Faith Field in Mississippi Canyon 695 and 696 in 7,000 ...

Gulf Coast

1 Chesapeake Operating Co., Oklahoma City, permitted a 14,000-ft. multilateral horizontal wildcat in northeastern Houston County, Texas (RRC 6). The ...

Midcontinent & Permian Basin

1 Branson, Mo.-based Salt Creek Exploration Inc. staked a remote wildcat in a nonproducing, lightly drilled area of the western ...

Western U.S.

1 ConocoPhillips Alaska Inc. has asked for preliminary approvals to begin development of its Alpine CD-5 satellite drillsite, which it ...

International Highlights

In Canada, the Alberta Energy and Utilities Board (AEUB) has affirmed its interim decision that natural gas producers must not ...

NEW FINANCINGS
New Financings

Equity Company Exchange / Symbol Headquarters Amount Comments Chesapeake Energy Corp. NYSE: CHK Oklahoma City US$500 million Plans to privately place cumulative convertible preferred stock with a liquidation preference of ...

COMPANY BRIEFS
Mariner's Josey talks about Enron, Forest deal

As the head of a company with the smudge of the Enron debacle stubbornly clinging to it, Scott Josey has ...

Stewart: El Paso slowly rounding the corner

El Paso Corp.'s (NYSE: EP) Lisa Stewart, executive vice president and president of production and nonregulated operations, says she knows ...

Hallead: PTEN falls too low on embezzlement news

Snyder, Texas-based Patterson-UTI Energy Inc. (Nasdaq: PTEN) recently launched an investigation into unauthorized payments made by the company for assets ...

Stone review suggests aggressive reserve-booking

Stone Energy Corp., Lafayette, La., (NYSE: SGY) personnel lacked adequate training on the SEC standard for estimating proved reserves, reports ...

Additional news

• Cobalt International Energy LP, Houston, has been formed with $500 million from Carlyle/Riverstone and Goldman Sachs Capital Partners to ...

M&A news

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

In Memoriam

Range Resources Corp., Fort Worth, Texas, (NYSE: RRC) reports that Robert E. Aikman, a member of the board since 1990, ...

ON THE MONEY
Windfall Battle over?

This past November, after a wild hurricane season, the oil and gas industry survived yet another storm on the floor ...

EDITORS COMMENT
Stranded No More

Stranded gas is generally thought of as being in remote locations far from market infrastructure, often in exotic international basins. ...

PwC: Less Volatility In Commodity Prices Would Spur M&A

M&A could increase in 2006, according to a report by PricewaterhouseCoopers' transaction services group. "We think it's very possible the ...

2006 Capex

2006 CAPEX E&P spending growth in 2005 and 2006 may exceed 20% and earnings growth for the oil-service companies will be ...

Windfall Battle Over?

This past November, after a wild hurricane season, the oil and gas industry survived yet another storm on the floor ...

Mezzanine Money

In today's world of frothy oil and gas prices, an independent's access to traditional bank debt isn't much of a ...

The Wolfcamp

A horizontal drilling play in the Lower Permian Wolfcamp is piquing interest in northwestern Eddy and southern Chaves counties, New ...

Midstream Marriages

Deep-pocketed financial players, such as commercial banks and investment banks, are being drawn to the midstream market, where they are ...

Downspacing For Gas

How many straws does it take to drain the milkshake? It depends on how thick or viscous it is and ...

Finding Vs. Buying

Across the globe, producers report that the economics of drilling reserves today are better than buying them, according to a ...

HEADLINES
Occidental Closes Acquisition Of Vintage Petroleum

Occidental Petroleum Corp., Los Angeles, (NSYE: OXY) has closed the acquisition of Vintage Petroleum Inc., Tulsa, Okla., (NYSE:VPI) for $20 ...

Azura Energy Systems Formed

Houston-based Superior Wellhead Holdings Inc. and Nautilus Marine Technologies Inc. have formed Azura Energy Systems Inc. through the merger of ...

Berry To Buy Piceance Basin Interests

Berry Petroleum Co., Bakersfield, Calif., (NYSE: BRY) plans to acquire a 50% working interest in gas assets in the Piceance ...

Platinum Energy Resources To Buy Tandem Energy Holdings

Platinum Energy Resources Inc., New York, (OTCBB: PGRI) plans to acquire Midland, Texas-based Tandem Energy Holdings Inc. (OTCBB: TDYH) for ...

Repsol Reports Reserve Reduction of 25%

Repsol YF, Madrid, Spain, (NYSE: REP) has reported a 25% reduction in its proved reserves to 1.3 million barrels of ...

Gemini Energy Buys Shares Of Exxel Energy

Gemini Energy Corp., Vancouver, (Toronto: GNI) has acquired 500,000 shares of Exxel Energy Corp. at US$5 each for a total ...

High Arctic Energy Services Trust To Buy Kamber Well Service Ltd.

High Arctic Energy Services Trust, Red Deer, Alberta, (Toronto: HWO.UN) plans to acquire the assets of Fort St. John, British ...

W&T Offshore To Acquire GOM Assets From Kerr-McGee

A wholly owned subsidiary of W&T Offshore Inc., Houston, (NYSE: WTI) plans to acquire a wholly owned subsidiary of Oklahoma ...

Cal Dive To Acquire Remington Oil And Gas

Cal Dive International Inc., Houston, (Nasdaq: CDIS) plans to acquire Dallas-based Remington Oil and Gas Corp. (NYSE: REM) in a ...

Shell Acquires South Texas Interests

Shell Exploration & Production Co., Houston, (NYSE: RDS) has closed an exchange agreement with Total E&P USA Inc., (NYSE: TOT) ...

Allis-Chalmers Completes Acquisition Of Specialty Rental Tools

Allis-Chalmers Energy Inc., Houston, (Amex: ALY) has completed the purchase of Lafayette, La.-based Specialty Rental Tools Inc. for $90 million. ...

Chesapeake To Buy 13 Rigs

Nomac Drilling Corp., a wholly owned subsidiary of Chesapeake Energy Corp., Oklahoma City, (NYSE: CHK) plans to acquire 13 drilling ...

Chesapeake To Acquire Properties From Seven Private Companies

Chesapeake Energy Corp., Oklahoma City, (NYSE: CHK) has entered into agreements with seven private companies to acquire assets in the ...

Apache To Buy Argentina Assets From Pioneer

Apache Corp., Houston, (NYSE, Nasdaq: APA) plans to acquire Argentina oil and gas operations of Pioneer Natural Resources, Dallas, (NYSE: ...

Parallel Petroleum Completes Harris San Andres Acquisitions

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

Riata Energy Files S-1 For IPO

Riata Energy Inc., Amarillo, Texas, has filed its S-1 with the SEC for a proposed initial public offering of its ...

Monterey Exploration Acquires Production From Pengrowth

Privately held, Calgary-based Monterey Exploration Ltd. has acquired approximately 1,000 barrels of oil equivalent per day of current production from ...

Triton American Well Services Formed

Triton American Energy Corp., Houston, (OTCBB: TRAE) and CML Financial have formed Triton American Well Services LLC, an all-in-one energy ...

Canaan Resources Formed

Privately held Canaan Resources LLC, Oklahoma City, a natural gas asset-acquisition company, has been formed with a $150-million commitment from ...

Delta To Sell Certain Columbia River Basin Interests

Delta Petroleum Corp., Denver, (Nasdaq: DPTR) has transferred its ownership in approximately 427,000 gross acres (64,000 net) of nonoperated interests ...

Cooper Cameron Acquires Brazilian Valve Business

Cooper Cameron Corp., Houston, (NYSE: CAM) has acquired the Brazilian On/Off valve business of Dallas-based Dresser Inc. for US$21.3 million. Dresser ...

CNOOC To Buy 45% Interest In Deepwater Nigeria License

CNOOC Ltd., Hong Kong, (NYSE: CEO) plans to acquire a 45% working interest in offshore oil mining license 130 (OML ...

Crescent Point Closes Acquisition Of Saskatchewan Assets

Crescent Point Energy Trust, Calgary, (Toronto: CPG.UN) has closed the acquisition of approximately 5,000 barrels of oil equivalent per day ...

NGas Resources Acquires Arkoma Basin CBM Asset

NGas Resources Inc., Lexington, Ky., (Nasdaq: NGAS) has closed the acquisition of the coalbed-methane assets of Dart Energy Corp. in ...

Pent Energy Closes Oklahoma Acquisitions

Fort Worth, Texas-based Pent Energy LLC has acquired Ada, Okla.-based Dadson Production LLC and Oil Center Operating Inc. for an ...

COMPANIES IN THIS ISSUE
Companies in This Issue

A G Edwards & Sons Inc. 28 A.G. Edwards & Sons Inc. 128, 131 ABN Amro 136 Abraxas Petroleum 66 Acon Investments LLC 127 Acorn Oil & Gas Ltd. 131 Advanced Resources ...



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