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Magazine - December 2007

What is the best qualitative measure for a buyer or seller of producing oil and gas properties to quickly


FEATURES
APPALACHIAN TRANSFER

The Appalachian Basin's gas endowment extends from upstate New York through Pennsylvania, the Virginias, eastern Kentucky and into ...

3-D MODELING FOR ALL

The oil industry is at the brink of the "perfect storm." Easy-to-find oil is gone. In its place are ...

TRISTONE CAPITAL'S ENERGY LENDER PRICE SURVEY

Energy lenders' outlook for oil prices has grown, according to a new survey of 39 commercial-capital providers. For front-month ...

MLP TECHNICAL DIFFICULTIES

Why are the MLPs' performances this second half so weak? A number of technical factors are weighing on the ...

ASSESSING THE COMPANY RISK

Month in and month out, in good times and bad, oil and gas companies face uncertainty in their exploration ...

INVESTING IN A PEAK-OIL WORLD

The debate continues as to whether the glass is half-full-or when it will be half- empty. But most ...

NEVADA OIL

Casinos aren't the only places in Nevada where risk-takers are hoping to beat the odds and strike it rich. ...

BACK IN THE SADDLE

Roger Jarvis is a true success story in the industry-starting from a family background with no experience in energy, ...

DOORS TO CAPITAL

As oil prices flirt with $100 and maybe more, there are those who believe there's a huge fear ...

NEWSWELL
 
FROM THE EDITOR-IN-CHIEF
WRAPPING UP 2007

This past year has been more fascinating than most. Most industry indicators were off the charts. Energy-supply topics dominated ...

COMPLETIONS
$108/PROVED BOE

At $18 per proved Mcfe, the EnCana Corp./Leor Energy deal is huge-quite possibly one of the most aggressive prices paid ...

TRENDS AND ANALYSIS
HIRING AND RETENTION TIPS

Skill gaps are rising, just as entry-level salaries are. But solutions to offset the aging demographics of the oil and ...

E&P MOMENTUM
SLATER DOME

An intriguing coalbed-methane (CBM) development is being pushed ahead by small Denver-based independent New Frontier Energy Inc. The company's ...

EXPLORATION HIGHLIGHTS
INTERNATIONAL HIGHLIGHTS

Houston-based explorer El Paso Exploration & Production Co. has brought in two discoveries in the Camamu Basin, off the southern ...

MIDCONTINENT & PERMIAN BASIN

1 Gateway Resources LLC, Wichita, Kan., will drill the 3,550-ft. #1-3 Alexander-Thomas Unit wildcat in Section 3-8s-21w about 2.5 miles ...

WESTERN U.S.

1 Venoco Inc., Carpinteria, Calif., plans a wildcat in California's Colusa County. The #1 Cimarron Rose will target Forbes in ...

GULF COAST

1 GMT Exploration Co. LLC, Denver, plans a 17,000-ft. wildcat in southeastern Texas' Anderson County (RRC 6), about ...

EASTERN U.S.

1 Crosby's Creek Oil & Gas LLC, Ridgeland, Miss., completed a Smackover discovery in southern Alabama's Choctaw County. The #1 ...

NEW FINANCINGS
COMPANY BRIEFS
IN MEMORIAM

Jerry A. Cooper, executive vice present and regional manager, western U.S., for Pogo Producing Co., Houston, (NYSE: PPP) died ...

Milagro to pay $825MM for Petrohawk Gulf Coast

Bob Cavnar's privately held Milagro Development I LP, Houston, company plans to buy the Gulf Coast division of Petrohawk Energy ...

Additional News

• Berry Petroleum Co., Bakersfield, Calif., (NYSE: BRY) plans to form an MLP of its long-lived oil and gas properties ...

EnCana to pay $2.55B for Leor, Amoruso Field

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

ON THE MONEY
CREDIT WORTHINESS

What's the credit worthiness of E&P companies? For the non-investment-grade upstream sector, it has been slightly upbeat this ...

EDITORS COMMENT
Investing in a Peak-Oil World

The debate continues as to whether the glass is half-full-or when it will be half- empty. But most of the ...

Nevada Oil

Casinos aren't the only places in Nevada where risk-takers are hoping to beat the odds and strike it rich. This ...

Forest Portfolio Now Fits Better In PowerPoint Show

Forest Oil Corp.'s aggressive M&A strategy during the past three and a half years is a feat underappreciated by peers, ...

UK Shelf Shows 34B Barrels Done, 25B To Go

A collective view of the U.K. North Sea continental shelf shows some 34 billion barrels of oil equivalent have been ...

Oilfield-Services Riding Strong Credit Outlook

Oilfield-service providers are riding a wave of record capital spending in the upstream sector, increased sharply over the past five ...

Business Group Takes Issue With Gore Prize

While Al Gore has received his Nobel Peace Prize due to his work in spreading the word about global warming, ...

MLPs, Unconventional Investments Will Grow, According to E&Y Poll

The number of MLPs will increase, according to 88.5% of respondents informally polled at Ernst & Young's Energy Executive Insight ...

Ziff: Domestic, Candian Gas Supply Will Decline

U.S. gas supply from the Gulf of Mexico, Rockies and Canada will decline, says Bill Gwozd, vice president of gas ...

S&P: Upstream MLP Parents Less Likely To Abandon Midstream

Upstream MLPs are more likely than midstream MLPs to be abandoned by their upstream parent should they face financial difficulty, ...

Canadian M&A Surviving Trust Tax Treatment

While many feared the coming income taxes on Canadian royalty income trusts would drive them out of the M&A marketplace, ...

Vicente Fox Says Foreign Investment Needed in Pemex

Mexico must be more open to international investment if it wishes to remain a viable energy provider, former Mexican president ...

WoodMac: Tupi May Be One Of Most Significant Oil Finds In 20 Years

Petrobras' Tupi Field offshore Brazil may be one of the most significant oil discoveries in the past 20 years, according ...

SPE: Meidan Base Pay For Member Engineers Now $118,250

The worldwide median base pay for engineers who belong to the Society of Petroleum Engineers is $118,250, according to an ...

S&P Expects Dramatic Decline In Broad Loan Activity in 2008

The credit crunch in leveraged loan markets is being triggered by more than the recent collapse of the subprime mortgage ...

The credit crunch in leveraged loan markets is being triggered by more than the recent collapse of the subprime mortgage ...

S & P Expects Dramatic Decline In Broad Loan Activity in 2008

The credit crunch in leveraged loan markets is being triggered by more than the recent collapse of the subprime mortgage ...

Oil-Service, Refining MLPs Being Considered

The MLP model is being considered for oil-service and downstream ventures too, according to Sean M. Maher, a vice president ...

Shale-Gas Plays In Canadian Maritimes Next On Radar Screen

While the Fort Worth Barnett, Woodford and Fayetteville shales may well be headed toward an aggregate daily production level of ...

HEADLINES
Linn To Buy Midcontinent Assets From Lamamco For $552MM

Linn Energy LLC, Houston, (Nasdaq: LINE) plans to acquire certain oil and gas properties primarily in the Midcontinent from privately ...

TXCO Offering San Miguel Tar Sands Properties In S. TX

TXCO Resources Inc., San Antonio, (Nasdaq: TXCO) (fka The Exploration Co.) has retained Scotia Waterous to assist in exploring strategic ...

First Reserve To Buy Abbot Group For $1.8B

U.S. energy-focused private-equity firm First Reserve Corp., through subsidiary Turbo Alpha Ltd., plans to acquire Abbot Group Plc, Aberdeen, (London: ...

Plains To Sell 16,500 BOE/d To Occidental, XTO For $1.75B

Occidental Petroleum Corp., Los Angeles, (NYSE: OXY) and XTO Energy Inc., Houston, (NYSE: XTO) plan to acquire working interests in ...

National Oilwell Varco To Buy Grant Prideco In $7.4B Deal

National Oilwell Varco Inc., Houston, (NYSE: NOV) plans to acquire Grant Prideco Inc., Houston, (NYSE: GRP) for approximately $7.4 billion ...

Ellis Steps Up As Linn Energy President

Mark E. Ellis has been named president of Linn Energy LLC, Houston (Nasdaq: LINE). He was executive vice president and ...

Petrohawk Wins Offer For 83 Bcfe In North LA For $169MM

Petrohawk Energy Corp., Houston, (NYSE: HK) plans to acquire additional interests in Elm Grove Field in Bossier and Caddo parishes, ...

Indigo To Pay $61MM To Callon For 420BOE/d

Privately held Indigo Minerals LLC, Houston, plans to acquire royalty and mineral interests from Callon Petroleum Co., Natchez, Miss., (NYSE: ...

Arena Picks Up 5,000 Acres In Permian For $49MM

Arena Resources Inc., Tulsa, Okla., (NYSE: ARD) has acquired two Permian Basin properties from undisclosed sellers in Andrews County, Texas, ...

Abraxas MLP To Buy 82% PDP From St. Mary For $140MM

The MLP Abraxas Energy Partners LP, San Antonio, plans to acquire producing properties in the Rockies and Midcontinent from St. ...

Range Is Buyer Of DTE, Other Barnett Package For $305MM; To Divest Noncore In 2008

Range Resources Corp., Fort Worth, (NYSE: RRC) plans to acquire properties in the Barnett shale Fort Worth Basin from DTE ...

Halliburton's COO Lane To Retire

Andrew Lane will retire as executive vice president and chief operating officer of Halliburton, Houston, (NYSE: HAL) effective Dec. 31. The ...

TECO Energy Closes Sale to Greenstreet Equity Partners, L.P.

TAMPA, Fla.--(BUSINESS WIRE)--TECO Energy (NYSE:TE - News) today announced that it has closed the sale of TECO Transport Corporation to ...

Canadian Trusts Enerplus, Focus To Merge In C$1.7B Deal

Enerplus Resources Fund, Calgary, (NYSE, Toronto: ERF) and Focus Energy Trust, Calgary, (Toronto: FET) plan to merge in a deal ...

World Fuel Services Corporation Completes Acquisition of AVCARD

World Fuel Services Corporation (NYSE:INT - News) today announced that it has completed the previously announced acquisition of AVCARD, a ...

DCP Midstream Partners to Present at Wachovia's 2007 Pipeline and MLP Conference

DCP Midstream Partners (NYSE: DPM - News), or the Partnership, announced today that Mark A. Borer, president and chief executive ...

Permian Wolfcamp Interests To Go For $170MM

Gulfport Energy Corp., Oklahoma City, (Nasdaq: GPOR) and Windsor Permian LLC, a subsidiary of Wexford Capital LLC, Greenwich, Conn., plan ...

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