Online Tour Subscribe
Magazine - January 2007

East Texas is a gas wunderkind. The time-honored basin was once synonymous with the old oil patch, home to the


FEATURES
INTERVIEW: THE BARNETT SHALE'S CHIEF - TREVOR REES-JONES

In January 1984, Trevor Rees-Jones left a successful partnership as an oil and gas bankruptcy lawyer to get into the ...

CO2 PLAYS ROLE IN CHESAPEAKE-CHAPARRAL-CALMUET DEAL

Watching Chaparral Energy Inc. develop its CO2 tertiary-recovery business in Oklahoma and Texas, Aubrey K. McClendon, an astute observer of ...

PRODUCERS BUYING RIGS OF THEIR OWN

Fresh off the $425-million sale of Sligo Field assets in North Louisiana to Chesapeake Energy Corp. in May 2004, privately ...

MLP CARVE-OUTS TO PLAY GREATER ROLE IN U.S. E&P

Encouraged by investor interest and the abundance of maturing oil and gas basins in the U.S., upstream trusts-some in the ...

EXPLORATION FUNDING FINDS WAY INTO ENERGY FINANCE

Several new firms are emerging in the energy space to help smaller producers fund drilling prospects. Some act as match-makers ...

GAS HYDRATE

As gas supplies tighten around the world, gas hydrate is being seriously considered as a potentially enormous natural source by ...

M&A IN LATIN AMERICA

Despite negative press, Latin America is experiencing an increasing level of M&A transaction activity. New entrants in the form of ...

GLOBAL-MINDED GURU

Since 2004, crude prices have had a heady ride in the market, with oil hitting $78-plus last summer. However, what ...

PRIVATE CAPITAL CHOICES

With a robust energy M&A market expected for 2007, the ranks of seasoned upstream and oil-service management teams looking to ...

WINNING THE WAR FOR TALENT

The need for experienced upstream personnel within the oil and gas industry has never been as acute as it is ...

WHAT HAPPENS IN BURMA...

North American energy companies active in international plays increasingly find themselves forced to defend themselves in court against allegations of ...

TRISTONE CAPITAL'S CAPITAL MARKETS OVERVIEW

After markets closed October 31, the Canadian government's department of finance announced sweeping changes in the taxation of income trusts, ...

NEWSWELL
 
FROM THE EDITOR-IN-CHIEF
THE RECIPE

At year-end 2006, a number of knowledgeable people gave us their recipe for continued high oil and gas prices. But ...

COMPLETIONS
MERGE OR DE-MERGE

The giant mergers may resume in 2007, according to one veteran upstream analyst. Another says de-merging may be a smarter ...

TRENDS AND ANALYSIS
MAJORS' RESULTS

Heading into the rush for positive year-end production and reserves growth, major oils had irked the expectations of some stock-performance ...

E&P MOMENTUM
NORTH SEA SQUEEZE

During the past three years, several factors have fundamentally reshaped business activity in the U.K. North Sea. That reshaping has ...

EXPLORATION HIGHLIGHTS
MIDCONTINENT & PERMIAN BASIN

1 Arena Resources Inc., Tulsa, Okla., permitted a remote wildcat 8.5 miles south-southeast of Syracuse in Hamilton County, Kan. It ...

INTERNATIONAL HIGHLIGHTS

Exploration has uncovered intriguing potential in west-central Alberta. Talisman Energy Inc., based in Calgary, has announced initial results from a ...

WESTERN U.S.

1 ConocoPhillips Alaska Inc., Houston, will drill three wildcats between January 2007 and June 2010 at its Intrepid prospect on ...

GULF COAST

1 A horizontal well inside the city limits of Midlothian in northwestern Ellis County, Texas, (RRC 5) is planned by ...

EASTERN U.S.

1 The #1 Saxaphone 22 wildcat will reach for 11,000 ft. in Section 22-16s-5e in Clay County, Miss., for Anadarko ...

NEW FINANCINGS
NEW FINANCINGS

EQUITY CompanyExchange / SymbolHeadquartersAmountComments Celero Energy Co. LPNAFort Worth, TexasUS$1 billionReceived private equity from Natural Gas Partners VIII ...

COMPANY BRIEFS
Canadian stock-based deals affected by tax-policy news

Calgary-based Shiningbank Energy Income Fund (Toronto: SHN.U) has canceled its acquisition of Rider Resources Ltd., Calgary, (Toronto: RRZ) in a ...

Additional news...

• New York-based investment firm Third Point LLC is asking Pogo Producing Co.'s (NYSE: PPP) board ...

U.S. E&P M&A news

• Privately held SandRidge Energy Inc. (formerly Riata Energy Inc.), Oklahoma City, has acquired NEG Oil & Gas LLC, a ...

Oil-service M&A news

• Seitel Inc., Houston, (OTCBB: SELA) will be acquired by investment firm ValueAct Capital, San Francisco and Boston, and its ...

Canadian E&P M&A news

• Royal Dutch Shell Plc, London, (NYSE: RDS.A) plans to acquire the minority interest in Shell Canada Ltd., Calgary, (Toronto: ...

International E&P M&A news

• Premier Oil Plc, London, (London: PMO) has received an offer to acquire the company. Its assets are in the ...

ON THE MONEY
RED-TAPE BLESSING

Hurry up and let's get little done! When it came to formulating a sane national energy policy-one that relies on ...

EDITORS COMMENT
Building Rigs

Fresh off the $425-million sale of Sligo Field assets in North Louisiana to Chesapeake Energy Corp. in May 2004, privately ...

Colin Powell: U.S. Needs New Nuclear Power

The U.S. must concentrate on securing new and alternative energy resources as well as investing in nuclear power, said former ...

Stanislaw: Peak Oil Demand More Likely Than Peak Oil Supply

The energy industry will see peak oil demand before it sees peak oil supply, according to Joseph Stanislaw. "Demand is ...

Stanislaw: Peak Oil Demand More Likely Than Peak oil Supply

The energy industry will see peak oil demand before it sees peak oil supply, according to Joseph Stanislaw. "Demand is ...

Red-Tape Blessing?

Hurry up and let's get little done! When it came to formulating a sane national energy policy-one that relies on ...

Red-Tapre Blessing?

Hurry up and let's get little done! When it came to formulating a sane national energy policy-one that relies on ...

Canadian Flow-Through Financings Nearly Doubled In Third Quarter

Canadian E&P flow-through financings were higher-in number of deals and value-in the first nine months of 2006, compared with the ...

The Recipe

At year-end 2006, a number of knowledgeable people gave us their recipe for continued high oil and gas prices. But ...

Most Independents Post Quarterly Production Growth

The commodity-price roller-coaster didn't stop many of the independent oil and gas companies from showing year-over-year production growth-organically and via ...

M&A In Latin America

Despite negative press, Latin America is experiencing an increasing level of M&A transaction activity. New entrants in the form of ...

Third-Party Review Aids Both Buyer And Seller, Reservoir Analysts Say

Sellers should not become married to a dollars-per-barrel-equivalent scale, says Scott Rees, president and chief operating officer of Dallas-based reservoir-analysis ...

Amid Political Shifts In Hemisphere, Keep An Eye On Mexico

Almost concurrently, the winds of political change have recently swept across governments-legislatures and/or executive branches-of most of the Western hemisphere's ...

Amid Political Shifts in Hemisphere, Keep An Eye On Mexico

Almost concurrently, the winds of political change have recently swept across governments-legislatures and/or executive branches-of most of the Western hemisphere's ...

Carve-Outs

Encouraged by investor interest and the abundance of maturing oil and gas basins in the U.S. upstream trusts-some in the ...

Canadian Asset Market Turns On Its Head As Supply Outpaces Demand

Counter to claims that lack of asset supply increased competition for acquisitions in Canada, there was a rapid shift from ...

CO2 In Oklahoma

Watching Chaparral Energy Inc. develop its CO2 tertiary-recovery business in Oklahoma and Texas, Aubrey K. McClendon, an astute observer of ...

Climbing Steel Prices Taking Toll On Earnings, Reports Lone Star

Higher steel prices for oil-country tubular goods (OCTG) are here to stay, according to Chuck Keszler, chief financial officer, Lone ...

Private Capital Choices

With a robust energy M&A market expected for 2007, the ranks of seasoned upstream and oil-service management teams looking to ...

East Texas Gas

East Texas is a gas wunderkind. The time-honored basin was once synonymous with the old oil patch, home to the ...

The Industry's Own Manhattan Project To Drive Geophysical Innovation

A recent deal announced by Spanish E&P firm Repsol YPF and U.S. technology provider 3DGeo Inc. proposes to radically improve ...

Decline In Demand May Be Only Source Of Lower Oil Prices, Near Term

U.S. demand for energy-coupled with growing Chinese demand and the realities of peaking worldwide production-should continue to drive up oil ...

Could New Members Increase OPEC's Market Influence?

Within the past month or so, Ecuador, Angola and Sudan have all signaled their interest in joining OPEC. But would ...

HEADLINES
Halliburton Closes Acquisition Of Ultraline Services

The drilling and formation evaluation division of the energy services group of Halliburton, Houston, (NYSE: HAL) has closed its acquisition ...

Grayhawk Retains Tristone To Sell The Company

Privately held, Plano, Texas-based Grayhawk Energy Inc. has retained Tristone Capital Inc. to sell the company, which has assets primarily ...

Omni To Acquire Cypress Energy

Omni Energy Services Corp., Carenco, La., (Nasdaq: OMNI) plans to acquire certain assets of Houston-based Cypress Consulting Services Inc. dba ...

Graves Resigns As Toreador President and CEO

G. Thomas Graves has resigned as president and chief executive of Toreador Resources Corp., Dallas, (Nasdaq: TRGL) to pursue other ...

Encore To Acquire Additional Williston Basin Assets From Anadarko

Encore Acquisition Co., Fort Worth, Texas, (NYSE: EAC) plans to acquire oil and gas properties in the Williston Basin in ...

Devon Plans To Divest All West African Assets

Devon Energy Corp., Oklahoma City, Okla., (NYSE: DVN) has retained Goldman Sachs & Co. and Scotia Waterous to divest all ...

Superior Energy Acquires Duffy & McGovern

Superior Energy Services Inc., Harvey, La., (NYSE: SPN) has acquired Duffy & McGovern Accommodations Services Ltd., Aberdeen, Scotland, for $47 ...

BreitBurn Plans To Acquire Texas Assets From Voyager Gas

BreitBurn Energy Partners LP, Los Angeles, (Nasdaq: BBEP) plans to acquire properties in the Permian Basin of West Texas from ...

Pengrowth Closes Acquisition Of Canadian Burlington Subsidiaries

Pengrowth Energy Trust, Calgary, (Toronto: PGF-UN; NYSE: PGH) has acquired four Canada-based subsidiaries of Burlington Resources Ltd., a subsidiary of ...

Halliburton To Acquire Ultraline From Savanna

The drilling and formation evaluation division of the Energy Services Group of Halliburton, Houston, (NYSE: HAL) plans to acquire Calgary-based ...

Sterling Energy Plans To Buy Whittier

Sterling Energy Plc, London, (London: SEY) plans to acquire Whittier Energy Corp., Houston, (Nasdaq: WHIT) for US$11 per share for ...

Apache To Acquire Interest In West Texas Assets From Anadarko

Apache Corp., Houston, (NYSE, Nasdaq: APA) plans to acquire a controlling interest in assets in the Permian Basin of West ...

Taqa Bratani To Buy North Sea Assets From Talisman

Taqa Bratani Ltd., a subsidiary of the Abu Dhabi National Energy Co., Abu Dhabi, U.A.E., (Abu Dhabi: TAQA) plans to ...

Encore To Acquire Wyoming Assets From Anadarko

Encore Acquisition Co., Fort Worth, Texas, (NYSE: EAC) plans to acquire oil and gas properties in the Big Horn Basin ...

Goodrich To Sell Most Of Its South Louisiana Assets

Goodrich Petroleum Corp., Houston, (NYSE: GDP) plans to sell substantially all of its assets in South Louisiana to an undisclosed ...

CGG Closes Veritas Acquisition For $3.1 Billion

Compagnie Générale de Géophysique (CGG), Massy, France, (NYSE: GGY) has closed the acquisition of Veritas DGC Inc., Houston, (NYSE: VTS) ...

Aban Offshore To Acquire Majority Stake In Sinvest

Aban Singapore Pte Ltd., a subsidiary of Aban Offshore Ltd., Chennai, India, (Bombay: 523204) plans to acquire the remaining shares ...

TNK-BP To Acquire Interest In Vanyoganneft JV From Occidental

TNK-BP, the Russian joint venture of BP Plc, London, (NYSE, London: BP) plans to acquire the 50% interest in the ...

Basic Energy To Buy JetStar

Basic Energy Services Inc., Midland, Texas, (NYSE: BAS) plans to acquire Texas-based JetStar Consolidated Holdings Inc. for approximately $120 million ...

EV Energy Plans To Acquire Michigan Assets

EV Energy Partners LP, Houston, (Nasdaq: EVEP) plans to acquire gas properties in Michigan from certain institutional partnerships managed by ...

Dana Gas Acquires Centurion Energy For C$1.3 Billion

Dana Gas PJSC, Sharja, United Arab Emirates, (Abu Dhabi: DANA) has closed its acquisition of Centurion Energy International Inc., Calgary, ...

Flotek Acquires Triumph Drilling Tools

Flotek Industries Inc., Houston, (Amex: FTK) has acquired Triumph Drilling Tools Inc. from Teal Supply Co., Corpus Christi, Texas, for ...

National Oilwell Varco Acquires NQL Energy

A Canadian subsidiary of National Oilwell Varco Inc., Houston, (NYSE: NOV) has acquired NQL Energy Services Inc., Calgary, (Toronto: NQL) ...

Forest Oil Plans To Acquire Houston Exploration

Forest Oil Corp., Denver, (NYSE: FST) plans to acquire The Houston Exploration Co., Houston, (NYSE: THX) for $1.5 billion in ...

GE To Acquire Vetco Gray For $1.9 Billion

General Electric Co., Fairfield, Conn., (NYSE: GE) plans to acquire U.K.-based Vetco Gray from Candover Investments Plc, Huddersfield, U.K., ...

Energen Acquires San Juan Basin Assets From Dominion

Energen Resources Corp., the E&P unit of Energen Corp., Birmingham, Ala., (NYSE: EGN) has acquired assets in the San Juan ...

Canadian Oil Sands Acquires Talisman's Syncrude Interest

Canadian Oil Sands Ltd., a subsidiary of Canadian Oil Sands Trust, Calgary, (Toronto: COS-UN) has acquired noncore Canadian oil-sands assets ...

COMPANIES IN THIS ISSUE
COMPANIES IN THIS ISSUE

3DGeo Inc.22 A.G. Edwards & Sons Inc.142 A.G. Edwards & Sons Inc.137 Access Exploration Corp.97 Action ...



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