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Magazine - April 2007

FEATURES
THE HANGOVER

A new trust tax plan announced in Canada in October brought the normally bustling M&A activity of the energy trusts ...

TAKE TWO

In April 2006, Houston-based Anadarko Petroleum Corp. was progressing as it had since 1986 when it was spun out of ...

MIDSTREAM MERGER OUTLOOK

Midstream executives like to say that it has become too pricey to grow by acquisitions today. Because multiples have risen, ...

TAX-ADVANTAGED TRUST

In 2003, Denver-based Forest Oil Corp. was primarily an offshore producer and frontier explorer, with assets in the Gulf of ...

DEAR WALL STREET

When David Trice took the helm of Newfield Exploration Co. as chief executive and president in February 2000, the company ...

SAVVY SERVICE SEER

During the past couple of years, amid frothy commodity prices, the oil and gas industry has dramatically ramped up ...

THE OIL SANDS' COST

The oil-sands region of Canada is steadily becoming one of the most talked about areas in the industry, with companies ...

SOUTH LOUISIANA RALLY

Hurricanes Katrina and Rita double-punched South Louisiana's oil and gas operators. Swamped fields, storm-tossed rigs and busted pipelines ...

NEWSWELL
 
FROM THE EDITOR-IN-CHIEF
GLOBALIZATION

There is a mini-tempest brewing over Halliburton's announcement that it will move its headquarters to Dubai, as chief executive officer ...

COMPLETIONS
ASSET PRICES

Oil and gas prices have softened in the past 12 months, but asset prices have had no fear. In most ...

TRENDS AND ANALYSIS
MAJOR RESULTS

Of the 17 integrated oil companies on the Oil and Gas Investor This Week scoreboard, ConocoPhillips and Hess Corp. led ...

MAJOR RESULTS

Of the 17 integrated oil companies on the Oil and Gas Investor This Week scoreboard, ConocoPhillips and Hess Corp. led ...

E&P MOMENTUM
THE LOUISIANA COAST

A state coastal restoration plan that will be financed by new federal offshore oil revenues is nearing completion in Louisiana. ...

EXPLORATION HIGHLIGHTS
EASTERN U.S.

1 Anadarko Petroleum Corp., The Woodlands, Texas, plans a 10,700-ft. horizontal wildcat, #1H LCSB 16-19-17, in the west-central Lowndes County ...

MIDCONTINENT & PERMIAN BASIN

1 Ritchie Exploration Inc., Wichita, Kan., plans a wildcat to test Pennsylvanian and Mississippian formations to 5,450 ft. on the ...

GULF COAST

1 PetroQuest Energy LLC, Lafayette, La., plans a pair of wildcats below 11,000 ft. in a continuing campaign in western ...

WESTERN U.S.

1 Petro-Canada (Alaska) Inc., Calgary, will drill four wildcats during the next three years in the northwestern section of the ...

INTERNATIONAL HIGHLIGHTS

Another high-volume oil well has been brought in offshore Vietnam, this one productive from Miocene clastic reservoirs. The Hai Su ...

NEW FINANCINGS
New Financings

EQUITY CompanyExchange / SymbolHeadquartersAmountComments Exco Resources Inc.NYSE: XCODallasUS$2 billionPlans to privately place up to US$400 million of 6% cumulative ...

COMPANY BRIEFS
International news

• Petróleos Delta SA (Petrodelta), Panama City, Panama, plans to acquire the assets and rights in the South Monagas ...

Service & Supply news

• Hercules Offshore Inc., Houston, (Nasdaq: HERO) plans to acquire Todco, Houston, (NYSE: THE) for approximately $2.3 billion in ...

M&A news

• Anadarko Petroleum Corp., Houston, (NYSE: APC) plans to sell a portion of its interest in the K2 unit ...

SandRidge receives rating; plans 144A notes offering

Standard & Poor's has assigned a B corporate credit rating to privately held, Oklahoma City-based SandRidge Energy Inc. and to ...

Additional news

• Parks & Luttrell Interests LLC has been formed by Jack Parks and Terry Luttrell, who sold their two-year-old ...

Pogo relents under Third Point pressure

Pogo Producing Co., Houston, (NYSE: PPP) has retained Goldman, Sachs & Co. and TD Securities Inc. to seek strategic alternatives ...

Energy Partners off block; will buy back stock

Energy Partners Ltd., New Orleans, (NYSE: EPL) has concluded its strategic alternatives process without any definitive offers to buy the ...

ON THE MONEY
MLP MOMENTUM

Last year was pretty good, in terms of the performance of the broad master limited partnership (MLP) sectors-pipeline and other ...

MLP MOMENTUM

Last year was pretty good, in terms of the performance of the broad master limited partnership (MLP) sectors-pipeline and other ...

EDITORS COMMENT
Canadian Fund-Raising Slows As Trusts Step Aside To Reassess Capital Access

Despite falling short of the record C$16.9 billion set in 2005, the 2006 financings for the Canadian oil industry proved ...

The Louisiana Coast

A state coastal restoration plan that will be financed by new federal offshore oil revenues is nearing completion in Louisiana. ...

National Oil Companies Must Address New Risks As They Expand Globally

The world's national oil companies (NOCs) are taking center stage in terms of their dominance of world oil reserves and ...

Take Two

In April 2006, Houston-based Anadarko Petroleum Corp. was progressing as it had since 1986 when it was spun out of ...

Ernst & Young Expects Fewer London AIM Listings By Year-End

The number of oil and gas companies listed on the London Alternative Investment Market (AIM) will fall in 2007, according ...

MLP Momentum

Last year was pretty good, in terms of the performance of the broad master limited partnership (MLP) sectors-pipeline and other ...

Providing Its Own Field Services Is Widening Pioneer's Margins

Pioneer Natural Resources saves itself a buck an Mcf by providing many of its own services in developing its coalbed-methane ...

Merrill Lynch Petrie Expects M&A Pace To Take Short Breather

The fast pace of M&A transactions seen in 2006 may not be sustainable this year, absent the many large deals ...

Producers Say Natural Gas Must Be At Least $5/Mcf To Keep Production Level

According to 41% of participants in a recent survey by Houston-based accounting, tax and business advisory firm Grant Thornton LLP, ...

Tax-Advantaged Trust

In 2003, Denver-based Forest Oil Corp. was primarily an offshore producer and frontier explorer, with assets in the Gulf of ...

The Oil Sands' Cost

The oil-sands region of Canada is steadily becoming one of the most talked about areas in the industry, with companies ...

Ex-Mitchell Energy Geologist Says Floyd/Neal Shale Play Needs A Lead Operator

The Floyd shale play of the Black Warrior Basin of Mississippi and Alabama lacks a primary operator that can fully ...

South Louisiana Rally

Hurricanes Katrina and Rita double-punched South Louisiana's oil and gas operators. Swamped fields, storm-tossed rigs and busted pipelines starkly revealed ...

Reserve Purchasers Aim To Be Net Buyers In 2007, According To Survey

Producers aren't retreating in the face of softening oil and gas prices. Most surveyed North American oil and gas operators ...

Globalization

There is a mini-tempest brewing over Halliburton's announcement that it will move its headquarters to Dubai, as chief executive officer ...

Most Independents Report Year-End Gains In Production, Reserves

Many of the independents on the fourth-quarter Oil and Gas Investor This Week scoreboard reported healthy gains in production, compared ...

HEADLINES
ENI To Acquire Dominion's Gulf Assets

ENI Petroleum Co. Inc., a subsidiary of ENI SpA, Rome, (NYSE: E) plans to acquire the offshore E&P operations of ...

Enterra Closes Acquisition Of Trigger

Enterra Energy Trust, Calgary, (Toronto: ENT-UN; NYSE: ENT) has closed its acquisition of privately held Calgary-based Trigger Resources Ltd. for ...

Statoil To Acquire North American Oil Sands For C$2 Billion

Statoil ASA, Stavanger, Norway, (Oslo: STL; NYSE: STO) plans to acquire privately held North American Oil Sands Corp., Calgary, for ...

Shell Closes Acquisition Of Shell Canada

Royal Dutch Shell Plc, London, (NYSE: RDS.A) has closed its acquisition of Shell Canada Ltd., Calgary, (Toronto: SHC) for C$45 ...

Continental Alloys Acquires Two Oilfield Businesses

Singapore-based Continental Alloys & Services (fka Continental Casing Ltd.) has acquired the businesses of Singapore-based Alloy & Oilfield Pte. Ltd. ...

Energy XXI Plans To Acquire Gulf Of Mexico Assets From Pogo

Energy XXI (Bermuda) Ltd., Houston, (London: EGY) plans to acquire certain Gulf of Mexico shelf properties from Pogo Producing Co., ...

BP To Acquire All Of Occidental's Pakistani Assets

BP Plc, London, (NYSE: BP) plans to acquire all the Pakistan interests of Occidental Petroleum Corp., Los Angeles, (NYSE: OXY) ...

Pioneer Plans To Form Two MLPs

Pioneer Natural Resources Co., Dallas, (NYSE: PXD) plans to form two publicly traded master limited partnerships which will own interests ...

Teck Cominco To Acquire 50% Interest In Lease 14 From UTS

Teck Cominco Ltd., Vancouver, (Toronto: TCK.A; NYSE: TCK) plans to acquire a 50% interest in Lease 14 in the Athabasca ...

Callon Acquires Interest In GOM Field From BP

Callon Petroleum Co., Natchez, Miss., (NYSE: CPE) has closed the acquisition of an 80% working interest in Entrada Field in ...

Penn West Closes Alberta Acquisition

Penn West Energy Trust, Calgary, has closed the acquisition of conventional assets in Alberta from an undisclosed seller for approximately ...

Dune To Acquire Goldking Energy

Dune Energy Inc., Houston, (Amex: DNE) plans to acquire Houston-based Goldking Energy Corp., for $302.5 million in cash and $18 ...

Plains To Acquire Colorado Assets

Plains Exploration & Production Co., Houston, (NYSE: PXP) plans to acquire all the interests in producing properties and midstream assets ...

Dana Petroleum To Acquire Devon's Egyptian Assets

Dana Petroleum Plc, Aberdeen, U.K., (London: DNX) plans to acquire the Egyptian assets of Devon Energy Corp., Oklahoma City, (NYSE: ...

EV Energy And EnerVest Plan To Acquire Texas Assets From Anadarko

EV Energy Partners LP, Houston, (Nasdaq: EVEP) and certain institutional partnerships managed by EnerVest Management Partners Ltd., Houston, plan to ...

Range To Equalize Interests In Nora Field With Equitable

Range Resources Corp., Fort Worth, Texas, (NYSE: RRC) plans to equalize its interests in the Nora Field in southwestern Virginia ...

Encore Closes Williston Basin Acquisition From Anadarko

Encore Acquisition Co., Fort Worth, Texas, (NYSE: EAC) has closed the acquisition of oil and gas properties in the Williston ...

Legacy To Acquire Assets In Texas And New Mexico

Legacy Reserves LP, Midland, (Nasdaq: LGCY) plans to acquire certain producing properties in Texas and New Mexico from two undisclosed ...

Former IPAA President Lloyd Unsell Dies

Lloyd N. Unsell passed away April 7 at age 84. He retired as president of the Independent Petroleum Association of ...

Superior Acquires Advanced Oilwell Services

Superior Energy Services Inc., Harvey, La., (NYSE: SPN) has acquired Brookshire, Texas-based Advanced Oilwell Services Inc. for $24.1 million in ...

American Real Estate To Sell Its Interest In SandRidge

American Real Estate Partners LP , New York, (NYSE: ACP) plans to sell its interests in privately held SandRidge Energy ...

Basic Closes Sledge Drilling Acquisition

Basic Energy Services Inc., Midland, Texas, (NYSE: BAS) has closed its acquisition of Midland-based Sledge Drilling Holding Corp. for approximately ...

ExxonMobil Names Albers Senior Vice President

ExxonMobil Corp., Irving, Texas, (NYSE: XOM) has named Mark Albers senior vice president. He was president of ExxonMobil Development Co. ...

The Exploration Co. Closes Output Exploration Acquisition

The Exploration Co. (TXCO), San Antonio, (Nasdaq: TXCO) has closed its acquisition of privately held Output Exploration LLC, Houston, for ...

Shell Acquires Balance Of Interest In Shell Canada

Royal Dutch Shell Plc, London, (NYSE: RDS.A) has acquired 98.8% of Shell Canada Ltd., Calgary, (Toronto: SHC) for C$45 per ...

Range Sells Gulf Of Mexico Shelf Assets

Range Resources Corp., Fort Worth, Texas, (NYSE: RRC) has sold its Gulf of Mexico properties to an undisclosed private company ...

Eagle Rock To Acquire Upstream Assets In 17 States

Eagle Rock Energy Partners LP, Houston, (Nasdaq: EROC) plans to acquire certain fee minerals, royalties and working interest properties throughout ...

COMPANIES IN THIS ISSUE


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