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A few natural gas producers and utility executives still may admit--very privately--that they didn't see a need for more liquefied natural gas (LNG) coming to the U.S. Sempra Energy LNG [...]

The volumetric production payment (VPP) option of financing acquisitions is still an appealing choice for producers who want to raise money and investors seeking good, reliable returns. It's also clear [...]

A decade can make a big difference. In 2003, the climate generally has been cold for just about any initial public offering of common stock. Ten years ago, it was [...]

Signs of an impending increase in demand for oilfield services--from the drilling of wells to supplying specialized services and equipment to stimulate and maintain production--have been in place for several [...]

When Tulsa oilman Randy Foutch sold Lariat Petroleum to Newfield Exploration Co. in early 2001, he decided almost immediately that he didn't want to continue working for a larger company. [...]

2001 was a good year for U.S. independent producers. Despite a fairly steady drop in oil and, especially, North American natural gas prices through the final months, many exploration and [...]

In the oil and gas world immediately before September 11, domestic issues had pushed international interests into the background. Producers' previously robust cash flows turned anemic as North American natural [...]

Independent oil producers can face significant challenges when working with a private capital source. Most independents cannot consider public debt and equity offerings at present, but there are opportunities for arranging deals with private capital sources.

Investment in the oil business by Boston area financial companies is discussed.

Public equity and debt financing for the oil exploration and production industry is slowly being opened up but firms that add attractive assets and improve their financial position have the advantage. In addition to improving profitability, proactive oil firms have significantly lowered their debt-to-cap ratio. Thus, firms that have successfully managed their debts and improved their overall profitability are not only prime candidates for financing, but will also have higher stock prices because of added value to their properties.

Exxon Corp again registered the highest full-year profits of any firm on the Fortune 500 magazine with $8.46 bil of earnings in 1997. Exxon posted the fourth highest market value at over $158.78 bil and ranked 30th in total assets at almost $96.1 bil. Nonetheless, General Motors Corp and Ford Motor Co posted higher 1997 revenues than Exxon. Meanwhile, diversified energy suppliers moved up higher on the Fortune 500.

The Middle East remains the petroleum industry's 'center of gravity.' Although the region has remained stable during the 1980s and early 1990s aside from Saddam Hussain's invasion of Kuwait, political events in the region, especially Saudi Arabia, still holds the key to global oil and gas output and prices. Meanwhile, the distinction between OPEC members and non-OPEC members is fast disappearing as more countries increase their production to meet growing demand.

In a few more months, politicians and the public almost certainly will ask why more natural gas is not being produced in response to continued high prices. Independent producers are [...]

The loss of mezzanine financing by Enron, Aquila, Shell and Mirant is tremendous by remaining financiers' counts. 'We believe about $2 billion of previously available capital for oil and gas [...]

One year after the September 11 tragedies, when 15 of 19 airline hijackers came from Saudi Arabia, relations between the kingdom and the U.S. apparently remain intact. Some U.S. observers [...]

Larger oil companies endured another brutal quarter as earnings came in lower year-to-year across the board. Once again, no one got a break. Upstream operations felt the impact of oil [...]

It's still too soon to say whether the expected second-half 2002 upturn in exploration will arrive as scheduled, despite higher natural gas prices and a strengthening rig count. Small and [...]

Global E&P spending will rise by 11.4% in 2000 to $92.6 billion, from an estimated $83.1 billion in 1999, according to a survey from Salomon Smith Barney Inc..

The US oil industry's three trade associations, the American Petroleum Institute (API), the Independent Petroleum Assn of America (IPAA)and the National Petroleum Refiners Assn (NPRA) have outlined the planned changes to be made with their respective organizations to respond to the new demands of the industry. The API plans to streamline membership in its committees, inviting those which will be affected by issues to sit in committee chairs to facilitate the decision making process. The IPAA plans to widen its network, to include more members from regional groups while the NPRA is expected to be active in the lobbying activities of the industry.

The results of the 15th annual survey and analysis of worldwide oil and gas exploration and production (E&P) spending conducted by Salomon Brothers show a 14.7% increase in planned E&P spending for 1997. The estimate is believed to be the largest planned increase since 1987. The New York-based investment banking firm's survey also shows that the spending plans of most oil companies will continue to be based on the projected oil and gas prices. It is believed that much of the E&P budgets will be spent on overseas drilling activities.

US oil and gas companies are intensifying exploration and production activities in Latin America despite problems regarding privatization in the region. Dallas, TX-based Triton Energy Ltd. was one of the first US independent producers to venture in South America, where it found the Cusiana Field in Colombia. British Petroleum Co. PLC is Triton's partner in the project. Houston, TX-based Hondo Oil and Gas Co. has also been focusing on exploring and developing the Opon natural gas field.

NatWest Securities Ltd. economist Fergus MacLeod predicts that the prevailing price stability in the oil industry will continue in the long-term. He noted that modestly high prices are a result of renewed strength between energy demand and supply. MacLeod believes that petroleum supplies outside OPEC will begin to decline after 1996. Despite his positive outlook, MacLeod warned of a possible short-term price decline marked by a levelling off of prices between $18 and $19 per barrel.

Several independent petroleum and gas production companies such as Cross Timbers Oil Co. and Union Pacific Resources Group Inc. intend to increase their capital outlays in 1996 in response to higher prices during the 1st of 1996. The increased capital spending will go to expand new and existing production sites. One company that does not intend to boost capital spending is Anadarko Petroleum Corp. which already came into 1996 with a higher capital budget.

When Questar Corp. agreed to buy Shenandoah Energy Inc. this summer for $406 million in cash and assumed debt, it was the largest acquisition of producing oil and gas assets [...]

Culminating discussions that began soon after their separate spinoffs from Unocal more than 35 years ago, Global Marine Inc. and Santa Fe International Corp. plan to merge. The combined company, [...]

Venezuela's proposed new energy law would allow private companies to participate in oil production, refining and commercialization for the first time since the South American country nationalized the oil industry [...]

No one disputes the Caspian Basin's oil and gas potential. The area's resources are considerable, but the logistics of getting what's produced there to market are formidable. That's why meaningful [...]

Faced with falling North American natural gas prices, producers have begun to rebuild hedges they pruned earlier this year. Risk-management instruments that looked like liabilities when gas prices climbed during [...]

Oil-country tubular-goods suppliers clearly benefited as domestic drilling accelerated during the second quarter. Lone Star Technologies Inc., Maverick Tube Corp. and NS Group Inc. each reported record earnings for the [...]

What if the experts scheduled an energy crisis, and nobody came? At first glance, that seems to have occurred in the summer of 2001. California was supposed to run short [...]

Although independent producers' stock prices fell dramatically from March 31 to the end of June, they could drop even more, Wall Street oil analysts warned as 2001's second quarter ended. [...]

Anadarko Petroleum Corp. (NYSE: APC) has won in a bid for Gulfstream Resources Canada Ltd. (Toronto: GUR) against an unsolicited offer by Australian independent Roc Oil Co. Ltd. 'The Gulfstream [...]

Citing increased drilling for natural gas in North America and more activity in international markets, Salomon Smith Barney Inc. raised its 2001 worldwide rig count forecast to 2,480 units from [...]

As North American natural gas prices eroded in mid-June, Helmerich & Payne Inc. directors approved the construction of 10 more new rigs and major equipment for the Tulsa drilling contractor's [...]

Denver's Westport Resources Corp. (NYSE: WRC) will vault into the ranks of the nation's 20 largest independent producers when it completes its $922-million purchase of Belco Oil and Gas Corp. [...]

Conoco Inc. (NYSE: COCA) has made a decisive move to expand its upstream portfolio with a C$9.8-billion (US$6.3-billion) purchase of Gulf Canada Resources Ltd. (NYSE: GOU). The addition of the [...]

The world's oil and gas producers are increasing their 2001 capital budgets beyond the healthy gains they established in December 2000, a survey of 350 producers indicates. The group's planned [...]

Oil and gas producers, who have wanted the government to appreciate their efforts to supply the country with energy, seem to have received that with the Bush administration's proposed national [...]

The Williams Cos. plans to increase its efforts to pursue Arctic gas and liquids development, according to Cuba Wadlington Jr., president of Williams Gas Pipeline. The company is also commencing [...]

Independents benefited from U.S. natural gas prices that were significantly higher year-to-year. Independent refiner-marketers got help from continued strong domestic refining margins. Integrated oil companies savored the rare simultaneous good [...]

Plains Resources Inc. will sell a portion of its interest in Plains All American Pipeline LP to an investor group for approximately $149.3 million, and take on James C. Flores [...]

In southern California, Occidental Petroleum Corp.'s gas assets have been extremely profitable. Of the company's worldwide gas production, 46% is in California. Tyler Dann, who follows the company for Banc [...]

Historical Canadian E&P profitability has been low in comparison to that of the world's other major producing regions, according to a new report. The Canadian Oil and Gas Industry Competitiveness [...]

U.S. natural gas demand is expected to increase steadily, reaching 25.4 trillion cubic feet (Tcf) per year by 2004 and 30.6 Tcf by 2015. At the same time, production growth [...]

U.S. producers managed a significant achievement in 2000: They spent lavishly, yet wisely, in replacing domestic reserves, John S. Herold Inc. says. The Norwalk, Connecticut-based research firm's 34th annual reserve [...]

Marathon Oil will be spun from its USX Corp. parent, after nearly two decades of sharing boardroom quality time with its U.S. Steel sibling. Nineteen years after it became part [...]

Not every producer and capital provider sees long-term reserve growth as the best route to high returns. Some believe aggressive exploitation, followed by a timely divestiture, is a better formula. [...]

Conventional wisdom has given the Gulf of Mexico a significant edge for several years as most likely to help meet growing U.S. natural gas demand because it is closer and [...]

As the Bush administration's energy policy task force, under Vice President Richard B. Cheney's direction, prepared its much anticipated recommendations, it was not surprising several other studies emerged. Most were [...]

Merrill Lynch & Co.'s global oil research team expects emerging market oil stocks to perform well during the next 12 months as a result of a positive oil price environment, [...]