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Magazine - November 2007

The South Texas region spotlighted here encompasses most of the southern portion of Texas, including more than 30 counties. Current


FEATURES
An Alternative Exploration Tool

A new generation of airborne gradiometry measurements offers explorationists a fresh tool, particularly in areas of complex geology and rough ...

KEYS TO GOOD SERVICE

Affixed to the facade of Derrick Equipment's Houston headquarters is a plaque dedicated to the memory of H. William Derrick ...

WATER WELL REHAB

A couple of years ago Excalibur Exploration Inc. drilled two wells that "looked like they were going to be truly ...

DERAILING MLPs

Business-development professionals in the oil and gas sector know the upstream master limited partnership (MLP) is a popular vehicle for ...

APPALACHIAN M&A

Ever since Colonel Edwin Drake's discovery well in 1859 in northwestern Pennsylvania, the Appalachian Basin-stretching more than 1,000 miles from ...

THE MEZZANINE MALL

With so many upstream start-ups being spawned these days by seasoned management teams coming out of larger consolidated E&P companies, ...

PRIVATE AGENDA

After leaving El Paso Exploration & Production in September 2006 as president, Lisa Stewart hit the road. Her goal: To ...

THE ADDAX STORY

In February 2006, when Geneva-based Addax Petroleum Corp. announced its initial public offering on the Toronto Stock Exchange, the company ...

WILDCATTING RAY'S WAY

Dallas-based wildcatter Ray L. Hunt is one of the biggest contrarians in the business, never one to follow the herd. ...

CANADA

Canada's oil and gas business has had a tumultuous year. Last Halloween, the federal finance minister proposed new rules that ...

NEWSWELL
 
FROM THE EDITOR-IN-CHIEF
What $86 means

Whether this number is justified or overblown is something experts can argue long into the night. But since October 2002, ...

COMPLETIONS
WHAT'S IN PLAY?

Hedge-fund meddling in New York-based diversified energy company National Fuel Gas has put assets of northwestern Pennsylvania's most active driller, ...

TRENDS AND ANALYSIS
E&P MOMENTUM
Partial to parshall

North Dakota's horizontal Bakken play is white hot in the vicinity of EOG Resources Inc.'s Parshall Field, a 50- to ...

EXPLORATION HIGHLIGHTS
WESTERN U.S.

1 Two wildcats are planned for north central California in adjoining Sacramento and Yolo counties. Rosetta Resources Operating Co. LP, ...

INTERNATIONAL HIGHLIGHTS

The emerging ultra-deepwater subsalt play in Brazil's offshore Santos Basin has yielded another major light-oil discovery. The discovery well, ...

GULF COAST

1 Valence Operating Co., Humble, Texas, plans a 15,000-ft. wildcat in southwestern Smith County, Texas (RRC 6). The #3 Katherine ...

MIDCONTINENT & PERMIAN BASIN

1 Lotus Operating Co. LLC, Wichita, Kan., will drill #1 Stelzer in Section 7-29s-14w in southwestern Pratt County, Kan. The ...

EASTERN U.S.

1 Cabot Oil & Gas Corp., Houston, will drill a remote wildcat in the eastern half of northern Mississippi's nonproducing ...

NEW FINANCINGS
New Financings

Equity CompanyExchange / SymbolHeadquartersAmountComments Linn Energy LLCNasdaq: LINEHoustonUS$1.5 billionPrivately placed 13 million units and 35 million class D ...

COMPANY BRIEFS
In Memoriam

David F. Schaible, president and chief operating officer of Newfield Exploration Co., Houston, passed away on Oct. 13 after a ...

Additional news

• Jim Parkman and Graham Whaling have formed energy investment-banking and M&A advisory firm Parkman Whaling LLC in Houston. ...

Sutton files IPO plan for Resolute MLP

Denver-based Resolute Energy Partners LP has filed an S-1 to IPO 13.75 million units at approximately $24.15 each for a ...

Anadarko files IPO plan for midstream MLP

The Anadarko Petroleum Corp., The Woodland, Texas, (NYSE: APC) offering of its the Woodlands, Texas-based midstream Western Gas Partners LP ...

Peter Dea's new Cirque producer ready to roll

Denver start-up Cirque Resources LP, helmed by president and chief executive Peter Dea and chief financial officer Neil Stenbuck, has ...

Spinnaker's Jarvis returns with Common Resources

Houston-based, privately owned Common Resources LLC has received up to $500 million in line-of-equity commitments from New York-based private-equity firm ...

ON THE MONEY
$100 Oil Possible?

Even after rocketing up to $85 per barrel in mid-October, global oil prices could very well hit $100 by the ...

EDITORS COMMENT
Should Core Inflation Data Include Food And Energy?

The Federal Reserve conducts monetary policy based on how core inflation is behaving. Historically, it has excluded food and energy ...

The Addax Story

In February 2006, when Geneva-based Addax Petroleum Corp. announced its initial public offering on the Toronto Stock Exchange, the company ...

Callon Ready To Bring On Partner In Deepwater Entrada

Callon Petroleum Co., Natchez, Miss., is searching for a partner for its Entrada Field, which involves Gulf of Mexico deepwater ...

$100 Oil Possible?

Even after rocketing up to $85 per barrel in mid-October, global oil prices could very well hit $100 by the ...

E&P Chiefs Debate How To Spend Money Wisely

Several speakers at the 16th annual Pacesetters Energy Conference hosted by John S. Herold Inc. claimed to have a lock ...

What $86 Means

Whether this number is justified or overblown is something experts can argue long into the night. But since October 2002, ...

Gulf Lease Sale 205 May Bode Well For Offshore Service Firms

The central Gulf of Mexico Lease Sale 205 secured the largest total revenue for lease sales in close to a ...

Water Well Rehab

A couple of years ago Excalibur Exploration Inc. drilled two wells that "looked like they were going to be truly ...

Foreign E&Ps Active Gulf Buyers, Moving Onshore U.S.

As several major U.S. E&P companies pull out of the Gulf of Mexico, more and more foreign oil companies are ...

EnerVest Now The Biggest Player In Austin Chalk

Privately held EnerVest Management LLC of Houston is now the biggest player in the Austin Chalk, one of the oldest ...

Clearinghouse's Olive Sees MLP Spree Affecting Asset Flow Negatively

The upstream MLPs will eventually have a negative impact on upstream asset flow in the U.S., according to Ken Olive, ...

Tristone: Alberta Royalty-Review Report 'Very Disturbing'

A mid-September report proposing changes to Alberta's royalty structure, which dates from 1997, has caused a stir in Calgary. Released ...

A Flawed EIA Price Model

The energy model used by the Energy Information Administration (EIA) is quite popular. The model's resulting forecast of energy prices, ...

Contango's Shallow Gulf Well Boosts Proved Reserves 68%

Houston-based Contango Oil & Gas Co. (Amex: MCF) found gas at Mary Rose #1 in 11 feet of water in ...

Appalachian M&A

Ever since Colonel Edwin Drake's discovery well in 1859 in northwestern Pennsylvania, the Appalachian Basin-stretching more than 1,000 miles from ...

McClendon Defends U.S. Gas Producers; Bode Leads Clean Skies

As one of the top gas drillers and producers in the U.S., with about 155 rigs running, Oklahoma City's Chesapeake ...

HEADLINES
LLog Exploration To Pay $170MM for Gulf Of Mexico Properties

Privately held LLog Exploration Co. LLC, Covington, Louisiana, plans to sell properties in the Gulf of Mexico shelf to an ...

Abu Dhabi Closes Pioneer Canada Assets For $540MM

Abu Dhabi National Energy Co. PJSC, Abu Dhabi, UAE, (Abu Dhabi: TAQ) has closed its acquisition of Pioneer Natural Resources ...

Petrohawk Targets 24,000 Net Fayetteville Acres

Petrohawk Energy Corp., Houston, (NYSE: HK) plans to acquire assets in the Arkansas Fayetteville shale for $343 million in cash ...

Comstock To Pay $170 MM For S. TX Assets, Gains 58 Bcf

Comstock Resources Inc., Frisco, Texas, (NYSE: CRK) plans to acquire South Texas properties from SWEPI LP, an affiliate of Shell ...

EnCana Closes East Texas Deal With Leor For $2.55B

EnCana Corp., Calgary, (NYSE; Toronto: ECA) has closed its acquisition of all the East Texas Deep Bossier gas and land ...

EV Energy To Purchase West Virginia Wells For $60MM

EV Energy Partners LP, Houston, (Nasdaq: EVEP) plans to acquire gas properties in West Virginia from an institutional partnership managed ...

Anadarko Auctions $82MM In Noncore Arkansas Leases

Anadarko Petroleum Corp., Houston, (NYSE: APC) has closed its offering of noncore and unleased mineral interests in Arkansas via auction ...

Direct Energy To Buy Rockyview For C$113.3MM

Direct Energy, a subsidiary of Centrica Plc, Windsor, U.K., (London: CNA) plans to acquire Rockyview Energy Inc., Calgary, (Toronto: RVE) ...

Devon Sells Gabon Assets For $205.5MM

Dutch investment company Oranje-Nassau Groep BV, through its subsidiary Oranje-Nassau Energie BV, has acquired the offshore Gabon oil and gas ...

Veritas Enters As White Knight For Eastern Echo

French-based geophysical company CGGVeritas (NYSE: CGV) has acquired 12.67% interest in seismic-marine company Eastern Echo Holdings Plc, Cypress, (Oslo: ECHO) ...

Schlumberger's $679MM Play For Seismic Vessel Company Rejected

Oilfield-services giant Schlumberger, Houston, (NYSE: SLB) has offered to acquire seismic-marine company Eastern Echo Holdings Plc, Cypress, (Oslo: ECHO) for ...

Pioneer To Buy 91 Bcfe In Barnett, Sprayberry For $240MM

Pioneer Natural Resources Co., Dallas, (NYSE: PXD) plans to acquire interests in more than 118,000 gross acres in the Barnett ...

Chesapeake To Add More Barnett Acreage

Chesapeake Energy Corp., Oklahoma City, (NYSE: CHK) plans to acquire approximately 2,000 net undeveloped leasehold acres in the Barnett shale ...

EnCana To Buy Leor's 75 MMcf/d In E. TX for $2.5B

EnCana Corp., Calgary, (NYSE; Toronto: ECA) plans to acquire all of the Deep Bossier gas and land interests of privately ...

Canadian Salvo Energy Buys Expedition for C$12MM

Privately held Salvo Energy Corp., Calgary, has acquired Expedition Energy Inc., Calgary, (Toronto: XPD) for approximately C$12.75 million in cash ...

Rosetta Names ConocoPhillip's Limbacher As CEO

Rosetta Resources Inc., Houston, (Nasdaq: ROSE) has named Randy L. Limbacher president and chief executive. He was president, E&P Americas, ...

Service Provider Allis-Chalmers Buys Diamondback For $22MM

Houston-based oil-services provider Allis-Chalmers Energy Inc. (NYSE: ALY) has acquired Diamondback Oilfield Services Inc., Conroe, Texas, for $22 million. Assets include ...

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