tag:blogger.com,1999:blog-56791332743371515422024-02-20T16:38:20.990+02:00D Three Technology - Natural Gas ScavengersD Three Technology, LLC manufactures natual gas scavengers and specialty amines. DTM products combine with MEA or DEA to remove CO2 (carbon dioxide) and H2S (hydrogen sulfide) from natural gas streams Call 818.392.8210 and ask for additional information.Unknownnoreply@blogger.comBlogger1330125tag:blogger.com,1999:blog-5679133274337151542.post-20461992937746477202011-03-08T04:13:00.002+02:002011-03-08T04:13:36.866+02:00Pipeline Company Going Public<div style="color: #333333; font-family: Arial, Helvetica, sans-serif; font-size: 13px; line-height: 18px; margin-bottom: 1.39em; margin-left: 0px; margin-right: 0px; margin-top: 0px;">HOUSTON--(<a href="http://www.businesswire.com/" style="color: #226db3; text-decoration: none;">BUSINESS WIRE</a>)--Plains All American Pipeline, L.P. (NYSE: <a href="http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.paalp.com%2Ffw%2Fmain%2Fdefault.asp%3Fb%3D789%261%3D1&esheet=6637912&lan=en-US&anchor=PAA&index=1&md5=862918b41fd86beb3bcb1ef547d4f630" style="color: #226db3; text-decoration: none;" target="_blank">PAA</a>) announced today that it has commenced, subject to market conditions, an underwritten public offering of 6,400,000 of its common units representing limited partner interests. The Partnership also intends to grant the underwriters a 30-day option to purchase up to 960,000 additional common units to cover over-allotments, if any.</div><div style="color: #333333; font-family: Arial, Helvetica, sans-serif; font-size: 13px; line-height: 18px; margin-bottom: 1.39em; margin-left: 0px; margin-right: 0px; margin-top: 0px;">The Partnership intends to use the net proceeds from the offering, including the proceeds from any exercise of the over-allotment option, to reduce outstanding borrowings under its credit facilities and for general partnership purposes. Amounts repaid under the Partnership’s credit facilities may be reborrowed to fund its ongoing capital program, potential future acquisitions, or for general partnership purposes.</div><div style="color: #333333; font-family: Arial, Helvetica, sans-serif; font-size: 13px; line-height: 18px; margin-bottom: 1.39em; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Citi, BofA Merrill Lynch, J.P. Morgan, Morgan Stanley, UBS Investment Bank and Wells Fargo Securities will act as joint book-running managers of the offering.</div><div style="color: #333333; font-family: Arial, Helvetica, sans-serif; font-size: 13px; line-height: 18px; margin-bottom: 1.39em; margin-left: 0px; margin-right: 0px; margin-top: 0px;">When available, copies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained from the underwriters as follows:</div><table cellspacing="0" class="bwtablemarginb" style="color: #333333; font-family: Arial, Helvetica, sans-serif; font-size: small; line-height: 18px; margin-bottom: 10px;"><tbody>
<tr style="font-size: 13px;"><td style="font-size: 13px;"></td><td style="font-size: 13px;"> </td><td style="font-size: 13px;"> </td><td style="font-size: 13px;"> </td><td style="font-size: 13px;"></td></tr>
<tr style="font-size: 13px;"><td class="bwpadl0 bwvertalignt bwalignl" style="font-size: 13px; padding-left: 0px; text-align: left; vertical-align: top;"><div class="bwcellpmargin" style="font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Citigroup Global Markets Inc.</div><div class="bwcellpmargin" style="font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Brooklyn Army Terminal</div><div class="bwcellpmargin" style="font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Attention: Prospectus Delivery Dept.</div><div class="bwcellpmargin" style="font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;">140 58<sup style="font-size: 11px; line-height: 7px;">th</sup> Street, Brooklyn, NY 11220</div><div class="bwcellpmargin" style="font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Telephone: (800) 831-9146</div><div class="bwcellpmargin" style="font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><a href="mailto:batprospectusdept@citi.com" style="color: #226db3; text-decoration: none;" target="_blank">batprospectusdept@citi.com</a></div></td><td style="font-size: 13px;"></td><td style="font-size: 13px;"></td><td style="font-size: 13px;"></td><td class="bwpadl0 bwvertalignt bwalignl" style="font-size: 13px; padding-left: 0px; text-align: left; vertical-align: top;"><div class="bwcellpmargin" style="font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;">BofA Merrill Lynch</div><div class="bwcellpmargin" style="font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;">4 World Financial Center<br />
New York, New York 10080<br />
Attn: Prospectus Department<br />
<a href="mailto:dg.prospectus_requests@baml.com" style="color: #226db3; text-decoration: none;" target="_blank">dg.prospectus_requests@baml.com</a></div></td></tr>
<tr style="font-size: 13px;"><td style="font-size: 13px;"></td><td style="font-size: 13px;"></td><td style="font-size: 13px;"></td><td style="font-size: 13px;"></td><td style="font-size: 13px;"> </td></tr>
<tr style="font-size: 13px;"><td class="bwpadl0 bwvertalignt bwalignl" style="font-size: 13px; padding-left: 0px; text-align: left; vertical-align: top;">J.P. Morgan Securities LLC<br />
via Broadridge Financial Solutions<br />
1155 Long Island Avenue<br />
Edgewood, New York 11717<br />
Telephone: (866) 803-9204</td><td style="font-size: 13px;"></td><td style="font-size: 13px;"></td><td style="font-size: 13px;"></td><td class="bwpadl0 bwvertalignt bwalignl" style="font-size: 13px; padding-left: 0px; text-align: left; vertical-align: top;"><div class="bwcellpmargin" style="font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Morgan Stanley & Co. Incorporated</div><div class="bwcellpmargin" style="font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Attn: Prospectus Dept.</div><div class="bwcellpmargin" style="font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;">180 Varick Street, 2nd Floor</div><div class="bwcellpmargin" style="font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;">New York, NY 10014</div><div class="bwcellpmargin" style="font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Tel: (866) 718-1649</div><div class="bwcellpmargin" style="font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Email: <a href="mailto:prospectus@morganstanley.com" style="color: #226db3; text-decoration: none;" target="_blank">prospectus@morganstanley.com</a></div></td></tr>
<tr style="font-size: 13px;"><td style="font-size: 13px;"></td><td style="font-size: 13px;"></td><td style="font-size: 13px;"></td><td style="font-size: 13px;"></td><td style="font-size: 13px;"> </td></tr>
<tr style="font-size: 13px;"><td class="bwpadl0 bwvertalignt bwalignl" style="font-size: 13px; padding-left: 0px; text-align: left; vertical-align: top;"><div class="bwcellpmargin" style="font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;">UBS Securities LLC</div><div class="bwcellpmargin" style="font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Attention: Prospectus Dept.</div><div class="bwcellpmargin" style="font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;">299 Park Avenue</div><div class="bwcellpmargin" style="font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;">New York, NY 10171</div><div class="bwcellpmargin" style="font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Telephone: (888) 827-7275</div></td><td style="font-size: 13px;"></td><td style="font-size: 13px;"></td><td style="font-size: 13px;"></td><td class="bwpadl0 bwvertalignt bwalignl" style="font-size: 13px; padding-left: 0px; text-align: left; vertical-align: top;"><div class="bwcellpmargin" style="font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Wells Fargo Securities, LLC<br />
Attn: Equity Syndicate Dept.<br />
375 Park Avenue<br />
New York, New York 10152</div><div class="bwcellpmargin" style="font-size: 13px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><a href="mailto:cmclientsupport@wellsfargo.com" style="color: #226db3; text-decoration: none;" target="_blank">cmclientsupport@wellsfargo.com</a><br />
Phone: (800) 326-5897</div></td></tr>
</tbody></table><div style="color: #333333; font-family: Arial, Helvetica, sans-serif; font-size: 13px; line-height: 18px; margin-bottom: 1.39em; margin-left: 0px; margin-right: 0px; margin-top: 0px;">The common units will be offered and sold pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering may be made only by means of a prospectus and related prospectus supplement.</div><div style="color: #333333; font-family: Arial, Helvetica, sans-serif; font-size: 13px; line-height: 18px; margin-bottom: 1.39em; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve certain risks and uncertainties. These risks and uncertainties include, among other things, the stability of the capital markets and other factors and uncertainties inherent in the marketing, transportation, terminalling, gathering and storage of crude oil and other petroleum-related products discussed in the Partnership's filings with the Securities and Exchange Commission.</div><div style="color: #333333; font-family: Arial, Helvetica, sans-serif; font-size: 13px; line-height: 18px; margin-bottom: 1.39em; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Plains All American Pipeline, L.P. is a publicly-traded master limited partnership engaged in the transportation, storage, terminalling and marketing of crude oil, refined products and liquefied petroleum gas and other natural gas related petroleum products. Through its general partner interest and majority equity ownership position in PAA Natural Gas Storage, L.P. (NYSE: PNG), PAA is also engaged in the development and operation of natural gas storage facilities. PAA is headquartered in Houston, Texas.</div>Unknownnoreply@blogger.com52tag:blogger.com,1999:blog-5679133274337151542.post-83184269949223281642011-03-02T02:36:00.000+02:002011-03-02T02:36:30.583+02:00Natural Gas Pipelines Under Review<span class="Apple-style-span" style="font-family: helvetica, 'microsoft sans serif', arial, sans-serif;"><span class="Apple-style-span" style="font-size: 14px; line-height: 10px;"><span class="Apple-style-span" style="-webkit-text-size-adjust: none; color: #333333; font-family: Arial; font-size: 12px; line-height: normal;"><div id="story-body" style="margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"><div style="font-size: 14px; line-height: 19px; margin-bottom: 10px; margin-left: 0px; margin-right: 0px; margin-top: 10px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">The National Transportation Safety Board began on Tuesday three days of hearings in Washington, DC to examine causes of last fall’s pipeline rupture in San Bruno. The natural gas explosion and fire killed eight people and destroyed dozens of homes.</div><div style="font-size: 14px; line-height: 19px; margin-bottom: 10px; margin-left: 0px; margin-right: 0px; margin-top: 10px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">National Transportation Safety Board Chair Deborah Hersman set the scene in San Bruno, a city south of San Francisco near the SFO airport: "On Sept. 9, 2010," she said, "a little after 6 p.m., as commuters were arriving home from work and families were sitting down at the dinner table, a 30-inch-diameter natural gas pipeline ruptured."</div><div style="font-size: 14px; line-height: 19px; margin-bottom: 10px; margin-left: 0px; margin-right: 0px; margin-top: 10px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">The explosion carved out a giant crater, and blew a 28-foot chunk of pipe a football field away. NTSB investigator Ravi Chhatre said a pair of off-duty employees reported the fire to Pacific Gas and Electric.</div><div style="font-size: 14px; line-height: 19px; margin-bottom: 10px; margin-left: 0px; margin-right: 0px; margin-top: 10px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">"The dispatch center dispatched an on-duty employee to investigate the reported explosion," said Chhatre.</div><div style="font-size: 14px; line-height: 19px; margin-bottom: 10px; margin-left: 0px; margin-right: 0px; margin-top: 10px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">But that employee wasn’t qualified to shut off the pipeline. It took PG&E an hour and a half to stop the flow of natural gas that was fueling the fire.</div><div style="font-size: 14px; line-height: 19px; margin-bottom: 10px; margin-left: 0px; margin-right: 0px; margin-top: 10px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Much of the hearing focused on why the pipeline didn’t have a remote shut-off valve. NTSB investigator Robert Trainor pressed PG&E consulting engineer Chih-Hung Lee about a policy memo he wrote five years ago. He asked Lee to read from a federal report that concludes the longer that natural gas flows, the more potential there is for damage.</div><div style="font-size: 14px; line-height: 19px; margin-bottom: 10px; margin-left: 0px; margin-right: 0px; margin-top: 10px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">"The degree of disruption in the heavily populated or commercial area would be in direct proportion to the duration of the fire," Lee read.</div><div style="font-size: 14px; line-height: 19px; margin-bottom: 10px; margin-left: 0px; margin-right: 0px; margin-top: 10px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Trainer said he wanted to contrast that conclusion with Lee's memo which states, "the duration of the flame has little or nothing to do with human safety or property damage."</div><div style="font-size: 14px; line-height: 19px; margin-bottom: 10px; margin-left: 0px; margin-right: 0px; margin-top: 10px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Lee said he based his memo on pipeline industry research that said most of the damage occurs in the first 30 seconds after a gas line rupture. But the San Bruno blast touched off a fire that firefighters couldn’t stop until the gas was shut off manually 90 minutes after the blast. PG&E officials testified that had there been a remote shut-off valve in place, the gas could have been turned off in 20 minutes.</div><div style="font-size: 14px; line-height: 19px; margin-bottom: 10px; margin-left: 0px; margin-right: 0px; margin-top: 10px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Democratic Congresswoman Jackie Speier has introduced a bill that requires pipeline operators to install automatic or remote shut-off valves. Speier’s district includes San Bruno.</div><div style="font-size: 14px; line-height: 19px; margin-bottom: 10px; margin-left: 0px; margin-right: 0px; margin-top: 10px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">"I am frankly sick and tired of a scenario on Capitol Hill," she said, "where we hold hearings over and over again and then don’t do anything. I want to see something done this time."</div><div style="font-size: 14px; line-height: 19px; margin-bottom: 10px; margin-left: 0px; margin-right: 0px; margin-top: 10px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">The House hasn’t yet scheduled a committee hearing for Speier’s bill.<br />
<br />
On the second day of the NTSB’s San Bruno hearings, the board will hear from San Bruno’s fire chief and from members of the California Public Utilities Commission.</div><div><br />
</div></div></span></span></span>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5679133274337151542.post-59106745459789086642011-02-27T02:35:00.000+02:002011-02-27T02:35:05.349+02:00Russia Sending Natural Gas to Europe<div style="font-family: arial, sans-serif;"><span class="Apple-style-span" style="font-size: 12px; line-height: 16px;"><i>PRLog</i> – <i>Feb 25, 2011</i> – Historically, Europe has been one of the leading consumers of natural gas, though in recent years, the natural gas consumption has been declining. Decline in consumption has been a result of economic slowdown, due to recession and a conscious attempt by European Union to cut it natural gas consumption, of which a substantial amount comes from Russia. And worrying part remains that there are very few alternatives for Europe to Russian gas supplies. According to IEA’s estimates, the current European energy imports of 50% are projected to rise to 70% by 2030. This means, the current share of Russian supply, which makes almost half of Europe’s natural gas imports, is likely to increase over next two decades. Synergyst’s “Future of European Natural Gas Market (2011-2015)” explores the current situation of natural gas imports in Europe, role of Russia in those supplies and an analysis of alternatives to Russian supplies. </span></div><div id="bdab" style="font-family: arial, sans-serif; font-size: 12px; min-height: 250px;"><div class="content" id="bd" style="font-family: arial, sans-serif; font-size: 12px; line-height: 1.4;"><br />
Report Coverage and Highlights<br />
<br />
- Report discusses the overall economic condition in Europe and analyzes Current electricity production, consumption and trade Trends and projects future economic growth and energy demand and supply.<br />
<br />
- European gas market is evaluated in detail with Current demand and supply scenario and future projection for the same.<br />
<br />
- Importance of Russian gas supply is analyzed with emphasis on European imports and estimates for future Russian production and export. Role of Gazprom is also looked into in detail.<br />
<br />
- Natural gas demand and supply Trends and import dependency are examined for leading European Countries and future recommendations are presented. Countries analyzed include Belgium, Czech Republic, France, Germany, Hungary, Italy, Netherlands, Poland, Spain and United Kingdom.<br />
<br />
- Also discussed is the situation in Countries that are highly dependent on Russian Natural gas supplies. These include Austria, Bulgaria, Estonia, Finland, Greece, Latvia, Lithuania, Poland, Romania and Slovakia.<br />
<br />
- Issues like monopolistic attitude of Gazprom, geopolitical disturbance in the region and rising costs are discussed in detail to highlight the Importance of Europe looking elsewhere for gas supplies.<br />
<br />
- In-depth evaluation of alternative supply options is presented along with our recommendations for future choices. </div></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5679133274337151542.post-7711128452894393432011-02-23T02:28:00.002+02:002011-02-23T02:28:30.929+02:00Natural Gas Safety Tips<div style="font-family: arial, sans-serif;"><span class="Apple-style-span" style="font-size: 12px; line-height: 16px;"><i><a href="http://www.prlog.org/" style="color: #3060e0; font-family: arial, sans-serif; text-decoration: none;">PRLog (Press Release)</a></i> – <i>Feb 18, 2011</i> – Natural Gas Safety Awareness Can Mean The Difference Between Life and Death </span></div><div id="bdab" style="font-family: arial, sans-serif; font-size: 12px; min-height: 250px;"><div class="content" id="bd" style="font-family: arial, sans-serif; font-size: 12px; line-height: 1.4;">A leading energy company reminds people safety is key following deadly Pennsylvania gas explosion<br />
<br />
Stamford, CT – February 18, 2011 – The cause of the natural gas explosion that rocked a Pennsylvania neighborhood and left five people dead last week is still unclear. The investigation is currently focused on the aging cast-iron gas main that services the Allentown, Pennsylvania neighborhood.<br />
<br />
According to a leading independent energy provider, regardless of the cause of this particular tragedy, the accident serves as an opportunity for everyone to review the importance of natural gas safety.<br />
<br />
«This terrible tragedy in Pennsylvania illustrates just how deadly natural gas can be,» says Jeffrey Mayer, President and CEO of MXenergy, one of the nation's fastest growing independent energy providers. «Natural gas provides an important and invaluable service but it is equally critical that we treat it with respect and always use the upmost care when dealing with it in any capacity.»<br />
<br />
Natural Gas Safety Tips<br />
<br />
Use Your Nose: If you smell even the slightest odor of gas leave the area immediately and call your service provider or 911 from a remote location. Do not waste time or use anything that can cause a spark, such as a cell phone or even a garage door opener<br />
<br />
Regular Inspections:<wbr></wbr> Have all gas appliances, furnaces, chimneys, vents and gas lines regularly inspected and maintained by a certified professional<br />
<br />
Keep Areas Clear: Keep all areas surrounding appliances and equipment unblocked to allow for clear airflow<br />
<br />
Look for the Blue Flame: Check all pilot lights and burners for a steady blue flame. The only exception is gas fireplaces which sometimes have a yellow flame<br />
<br />
Dig Safely: Always call your local provider before you begin digging to avoid hitting an underground pipe and causing a leak<br />
<br />
Store Properly: Never set flammable material close to any gas appliance or equipment<br />
<br />
Properly Maintain Your Meter: Don't allow frozen rain or ice to build up on your meter. Use a broom (never a shovel) to clear ice and snow<br />
<br />
<br />
Signs Of Trouble<br />
<br />
Listen: A hissing noise near a pipeline or building is cause for concern. Immediately call your local service provider<br />
<br />
Look: Dead or distressed vegetation above a gas main is another cause for concern and should be reported<br />
<br />
Sniff: Any hint of natural gas odor inside or outdoors is cause for immediate action. Quickly leave the area and then call your provider or 911 for help<br />
<br />
«Safety and awareness are of critical importance,»<wbr></wbr> continues Mayer. «While there is no evidence of homeowner negligence in the Pennsylvania explosion, it still is a reminder to us all of the awesome power of natural gas and the necessity for constant caution and respect.»<br />
<br />
Pennsylvania investigators report no calls of problems or odor prior to the explosion and plan to send cameras through the main to look for cracks and will perform pressure tests on the service lines.</div><br />
# # #<br />
<br />
<div id="ab" style="font-family: arial, sans-serif; font-size: 12px;">MXenergy is one of the fastest growing retail natural gas and electricity suppliers in North America, serving approximately 500,000 customers in 41 utility territories in the United States and Canada. For over 11 years, the company has provided millions of customers with a choice in how they purchase energy to run their homes and businesses. Founded in 1999 to provide natural gas and electricity to consumers in deregulated energy markets, MXenergy helps residential customers and small business owners control their energy bills by providing both fixed and variable rate plans. MXenergy is committed to best practices in environmental conservation, supporting local communities through various outreach programs and is a member of the Chicago Climate Exchange. For more information MXenergy please visit www.mxenergy.com.</div></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5679133274337151542.post-77718146636841659562011-02-20T04:43:00.001+02:002011-02-20T04:43:30.374+02:00European Gas Group Met in January<div style="font-family: arial, sans-serif; font-size: 12px;"><i class="px11" style="font-size: 11px;">IMMEDIATE RELEASE</i></div><div id="bdab" style="font-family: arial, sans-serif; font-size: 12px; min-height: 250px;"><div class="content" id="bd" style="font-family: arial, sans-serif; font-size: 12px; line-height: 1.4;"><i><a href="http://www.prlog.org/" style="color: #3060e0; font-family: arial, sans-serif; text-decoration: none;">PRLog (Press Release)</a></i> – <i>Jan 13, 2011</i> – There are high expectations in the gas industry for a lively European Gas Conference when all the major role players in the great pipeline debate take to the stage in Vienna from 26-28 January.<br />
<br />
The Great European Pipeline Debate<br />
The attendance of the European Gas Conference by the heads and high-level supporters of the five major European pipeline projects, including Nabucco, South Stream and White Stream, promises some fascinating debate during the event. <br />
<br />
South Stream is a proposed gas pipeline to transport Russian natural gas to the Black Sea to Bulgaria and further to Italy and Austria. It is seen as a rival to the planned Nabucco pipeline which will run from Turkey to Austria and is supported by the EU as an attempt to lessen European dependence on Russian energy. White Stream (also known as the Georgia-Ukraine-<wbr></wbr>EU gas pipeline) is a proposed pipeline project to transport natural gas from the Caspian region to Romania and Ukraine with further supplies to Central Europe.<br />
<br />
Report back on latest developments<br />
Austrian Economy minister Reinhold Mittlerlehner, the leading oil and gas corporation, OMV, and former German Foreign minister Joschka Fischer are also amongst the distinguished panel of speakers at the event which will bring together some 300 stakeholders from the European gas industry. <br />
<br />
The Managing Director of Nabucco Gas Pipeline International, Reinhard Mitschek, will report back on the latest developments in the project, Joschka Fischer is a committed Nabucco supporter while OMV is a partner in the pipeline. <br />
<br />
Representing South Stream is the CEO, Marcel Kramer, who will also present an update while the head of the Russian Gas Society on energy and gas co-operation and State Duma deputy chairman, Valery Yazev, is a well-known proponent of the Russian pipeline project. A significant delegation from the Russian gas giant, Gazprom, is attending as well as a high-level representative from the Turkish Energy Ministry.<br />
<br />
Robert Pirani, the chairman of the White Stream project will also be there and along with the other major European pipelines, TAP and ITGI, will present the latest project developments during the European Gas Conference.<br />
<br />
Other topics that will be addressed include:<br />
How long the decoupling of oil and gas prices will last, and how it will affect the industry<br />
North, East, South, West and Central European cooperation to ensure security of <br />
supply<br />
The facilitation of an open European gas market<br />
Global context: how developments in Middle Eastern, US, and North African gas will impact the European market </div></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5679133274337151542.post-85983222801564452232011-02-18T03:21:00.002+02:002011-02-18T03:21:57.258+02:00Oil and Natural Gas Assets Acquired by DeeThreeD Three Technology is not affiliated with DeeThree<br />
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<div class="mw_release" style="color: #222222; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px;"><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">DeeThree Exploration Ltd. ("DeeThree" or the "Company") (TSX:DTX) is pleased to announce that it has entered into a definitive purchase and sale agreement (the "Agreement") with Fairborne Energy Ltd. and Fairborne Pivotal Production Partnership (the "Vendor") pursuant to which DeeThree will, subject to certain conditions, acquire producing oil and natural gas assets (the "Assets") for cash consideration of $125 million (the "Acquisition"), subject to customary closing adjustments. The Acquisition is expected to close on or about March 22, 2011 with an effective date of January 1, 2011. The closing of the Acquisition is subject to certain conditions and the receipt of all required regulatory approvals, including the approval of the Toronto Stock Exchange.</div><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">DeeThree will finance the Acquisition through a combination of the net proceeds of a $100 million 'bought deal' short form prospectus subscription receipt offering and its existing working capital. In addition, the 'bought deal' prospectus offering will also include the issuance of common shares on a "flow-through" basis under the <em>Income Tax Act</em> (Canada) for additional proceeds of $15 million. A description of the prospectus offering is provided below under "Financing". </div><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;"><strong>Summary of the Acquisition</strong></div><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">Through the Acquisition, DeeThree is acquiring approximately 1,830 boe/d (2010 exit production) of primarily high working interest, operated oil, natural gas and natural gas liquids production and reserves principally situated in Brazeau, West Pembina and the Peace River Arch area of northern Alberta.</div><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">The Assets have the following material attributes.</div><ul style="list-style-type: disc; margin-top: 0px;"><li><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">Low-decline production of approximately 1,830 boe/d of which 40% is light crude oil and natural gas liquids;</div></li>
<li><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">High working interest, operated light oil resource style play with production from the Belly River formation over a contiguous land base in the Brazeau area with associated facilities and infrastructure ownership;</div></li>
<li><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">Various oil and gas producing assets in the Peace River Arch consisting of stable diversified production from the Montney, Charlie Lake, Bluesky, Spirit River Group and Doe Creek formations with ownership in associated facilities and infrastructure including a gas processing plant;</div></li>
<li><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">Proved plus Probable Reserves – 5.416 mmboe <sup style="font-size: 9px; line-height: 0; vertical-align: 0.5ex;">1</sup>;</div></li>
<li><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">Reserve life index of 8.1 years on proved plus probable reserves as of December 31, 2009 and based on current production;</div></li>
<li><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">Undeveloped land of approximately 32,000 net acres which DeeThree estimates to have a value of approximately $7 million;</div></li>
<li><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">Numerous identified low-risk vertical and horizontal drilling locations on the acquired lands.</div></li>
</ul><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;"><sup style="font-size: 9px; line-height: 0; vertical-align: 0.5ex;">1</sup> The aforementioned reserves information is based on an independent engineering evaluation report prepared by GLJ Petroleum Consultants Ltd. effective December 31, 2009. </div><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;"><strong>Transaction Metrics</strong></div><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">DeeThree will significantly increase its oil and natural gas liquids weighting upon completion of the Acquisition to approximately 40% of proved plus probable reserves. Based on the $125 million purchase price, net of $7 million of undeveloped land value, the key transaction metrics are:</div><ul style="list-style-type: disc; margin-top: 0px;"><li>$64,480 per boe/d of production;</li>
<li>$21.78 per proved plus probable boe of reserves; and</li>
<li>The acquisition is accretive to DeeThree on all key metrics.</li>
</ul><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;"><strong>Strategic Rationale</strong></div><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">DeeThree believes there are numerous anticipated benefits and upside potential associated with the Acquisition, as described below:</div><ul style="list-style-type: disc; margin-top: 0px;"><li><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">The Brazeau property which forms part of the Assets complements the Company's emerging Alberta Bakken light oil play providing an additional "high-quality" resource play with several operational synergies;</div></li>
<li><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">Internal reserve estimates indicate considerable upside associated with the Assets beyond current reserves bookings, particularly in a light oil resource play at Brazeau where the Company estimates significant unrecovered reserves;</div></li>
<li><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">The Assets will provide the Company with a more balanced and diverse production base resulting in 2011 pro forma exit of approximately 50% crude oil and NGLs;</div></li>
<li><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">With the combination of increased cash flow from the acquired Assets along with the anticipated increase to the Company's credit facility, the Company can comfortably fund its aggressive program to explore and develop the Alberta Bakken;</div></li>
<li><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">DeeThree is seeking and is confident that it will obtain an increase of $30 million to its existing revolving credit facility to a total of $40 million. The new credit facility is subject to credit approval and satisfaction of conditions that are typical of transactions of this nature, including the closing of the Acquisition. The planned incremental borrowing capacity associated with the Assets will help DeeThree retain its strong balance sheet and financial flexibility;</div></li>
<li><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">The Peace River Arch component of the asset package provides DeeThree with access to a production and land base in which the Company's technical team has extensive past experience and success in exploring and developing. </div></li>
</ul><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;"><strong>Financing</strong></div><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">DeeThree has concurrently entered into an agreement with a syndicate of underwriters co-led by Macquarie Capital Markets Canada Ltd. and Casimir Capital Ltd. pursuant to which DeeThree will issue 23,300,000 subscription receipts ("Subscription Receipts") at a price of $4.30 per Subscription Receipt, by way of a 'bought deal' short form prospectus offering for gross proceeds of $100,190,000 and 3,000,000 common shares ("Flow-Through Shares") issued on a "flow-through" basis under the <em>Income Tax Act</em> (Canada) at the price of $5.15 per share for gross proceeds of $15,450,000, representing aggregate gross proceeds of $115,640,000. In addition, DeeThree has granted the underwriters a 15% an over-allotment option (the "Option") to purchase, on the same terms, up to an additional 3,495,000 Subscription Receipts for additional gross proceeds of up to $15,028,500 if the Option is exercised in full. This Option is exercisable, in whole or in part, by the underwriters at any time up to 30 days following the closing of the offering to cover the Underwriters' over-allotments, if any. The maximum gross proceeds raised under the offering will be $130,668,500 should this Option be exercised in full. Closing of the offering is anticipated to occur on or before March 11, 2011, and is subject to the receipt of applicable regulatory approvals, including approval of the TSX.</div><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">The proceeds of the Subscription Receipt offering will be used to partially fund the Acquisition and the proceeds of the Flow-Through Share offering will be used to fund DeeThree's ongoing exploration activities on its newly acquired properties and also its Lethbridge properties.</div><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">Upon completion of this Acquisition, DeeThree's 2011 capital expenditure program is anticipated to be increased from the previously announced $32 million to $41 million including the planned drilling of seven Bakken locations and an additional seven light oil horizontal locations on the anticipated acquired Property. With the additional cash flow from the acquired property and the anticipated increase in the Company's credit facility, DeeThree is well positioned to fund its 2011 capital expenditure program.</div><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;"><strong>Bakken Update</strong></div><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">In late 2010, the Company spud its first vertical Bakken stratigraphic test well on its Lethbridge property. The well was successfully drilled to the planned vertical depth with the target section cored and retrieved. After reviewing encouraging results from the core data, DeeThree proceeded with a horizontal leg. As of today's date, DeeThree has successfully drilled its planned horizontal leg and with continued positive results, installed a 15-stage frac assembly. The well is currently awaiting fracture stimulation operations. </div><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">The Company has two more licensed stratigraphic vertical wells that will be cored; testing additional land blocks and is currently in various stages of acquiring several multi-well pad sites. In total DeeThree plans to drill another seven Bakken locations on its Lethbridge property throughout 2011 with one rig being utilized consistently throughout the year with the possibility of engaging a second rig depending on results.</div><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;"><strong>DeeThree's Advisors</strong></div><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">Macquarie Capital Markets Canada Ltd. acted as financial advisor and Casimir Capital Ltd. acted as strategic advisor to DeeThree with respect to the Acquisition.</div><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">For further information, please contact Martin Cheyne, President and Chief Executive Officer of DeeThree Exploration Ltd., by telephone at (403) 263-9130.</div><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;"><em><strong>Reader Advisory</strong></em></div><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;"><strong>Forward-Looking Statements.</strong> Certain information included in this press release constitutes forward-looking information under applicable securities legislation. Such forward-looking information is provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Forward-looking information typically contains statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project" or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information in this press release may include, but is not limited to, information with respect to: operational decisions and the timing thereof, development and exploration plans and the timing thereof; future production level; timing for completion of the Acquisition and the Prospectus financing and the anticipated benefits resulting from the transactions described in this press release. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect.<br />
Although DeeThree believes that the expectations reflected in such forward-looking information is reasonable, undue reliance should not be placed on forward-looking information because DeeThree can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified in this press release, assumptions have been made regarding and are implicit in, among other things: field production rates and decline rates; the ability of DeeThree to complete the Acquisition and the other transactions described in this press release and, once completed, to realize the anticipated benefits of the Acquisition and other transactions; the timely receipt of any required regulatory approvals; the ability of DeeThree to obtain qualified staff, equipment and services in a timely and cost efficient manner to develop its business; DeeThree's ability to operate the properties in a safe, efficient and effective manner; the ability of DeeThree to obtain financing on acceptable terms; the ability to replace and expand oil and natural gas reserves through acquisition, development of exploration; the timing and costs of pipeline, storage and facility construction and expansion; future oil and natural gas prices; currency, exchange and interest rates; the regulatory framework regarding royalties, taxes and environmental matters; and the ability of DeeThree to successfully market its oil and natural gas products. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which have been used. DeeThree undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change, unless required by law. </div><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">Forward-looking information is based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by DeeThree and described in the forward-looking information. The material risk factors affecting DeeThree and its business are contained in DeeThree's Annual Information Form which is available under DeeThree's issuer profile on SEDAR at<a href="http://www.sedar.com/" style="color: #cc0000; text-align: left; text-decoration: none;">www.sedar.com</a>.</div><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">The reader is cautioned not to place undue reliance on this forward-looking information.</div><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;"><strong>BOE Presentation.</strong> References herein to "boe" mean barrels of oil equivalent derived by converting gas to oil in the ratio of six thousand cubic feet (Mcf) of gas to one barrel (bbl) of oil. Boe may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf: 1 bbl is based on an energy conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.</div><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirement. This media release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there by any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.</div></div><div style="clear: both; color: #222222; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;"></div><div style="clear: both; color: #222222; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;"></div><div class="releaseContact" style="background-repeat: repeat repeat; border-bottom-color: rgb(189, 190, 192); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: rgb(189, 190, 192); border-left-style: solid; border-left-width: 1px; border-right-color: rgb(189, 190, 192); border-right-style: solid; border-right-width: 1px; border-top-color: rgb(189, 190, 192); border-top-style: solid; border-top-width: 1px; color: #222222; float: left; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; line-height: 18px; margin-bottom: 10px; margin-left: 0px; margin-right: 20px; margin-top: 10px; padding-bottom: 5px; padding-left: 10px; padding-right: 10px; padding-top: 10px; width: auto;"><div style="clear: both; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;"><b>For more information, please contact</b></div>DeeThree Exploration Ltd.<br />
Martin Cheyne<br />
President and Chief Executive Officer<br />
(403) 263-9130</div><div class="clearAll" style="clear: both; color: #222222; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px;"></div><div id="nav_links" style="color: #222222; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px; padding-bottom: 10px; padding-left: 10px; padding-right: 10px; padding-top: 10px; text-align: left;"><a href="http://www.marketwire.com/mw/search.do?params=&grpSearch=C&companyid=67782" style="color: #cc0000; text-align: left; text-decoration: none;">Click here to see all recent news from this company</a></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5679133274337151542.post-62643472793991439092011-02-17T02:29:00.000+02:002011-02-17T02:29:40.399+02:00Munn from Mack Energy Says Slow Down the Talk<span class="Apple-style-span" style="font-family: arial; font-size: 12px;"></span><br />
<div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 12px; font-style: inherit; font-weight: inherit; line-height: 15px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 18px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">Amid the frenzy of shale gas drilling that has extended from the Barnett Shale to the Marcellus in the northeast, one Midland expert is holding a stop sign.</div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 12px; font-style: inherit; font-weight: inherit; line-height: 15px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 18px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">"My pitch is to slow down," said Bill Munn, manager of gas marketing with Mack Energy of his recent talk with members of the Natural Gas Society of the Permian Basin.</div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 12px; font-style: inherit; font-weight: inherit; line-height: 15px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 18px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><span class="Apple-style-span" style="line-height: normal;"></span></div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 12px; font-style: inherit; font-weight: inherit; line-height: 15px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 18px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">"The shales, no one knows what they are yet," he continued. "The facts have nowhere near caught up with the hype. The facts may support the hype or they may not; we're getting way ahead of ourselves."</div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 12px; font-style: inherit; font-weight: inherit; line-height: 15px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 18px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">Munn compared the hype to the dot-com and real estate bubbles or even electric deregulation in Texas where "we were told under deregulation our electric bills would be real cheap."</div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 12px; font-style: inherit; font-weight: inherit; line-height: 15px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 18px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">He stressed that the gas reserves operators active in the shale plays promise may well exist, "but this is still bad rock," and producing that gas will be difficult and expensive. The operators promoting those reserves are not doing anything wrong, he added. But, he pointed out, everyone has their own agenda.</div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 12px; font-style: inherit; font-weight: inherit; line-height: 15px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 18px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">"I'm not an expert," said the veteran gas marketer. "I'm not a geologist, I don't have degrees. But I have some facts and I don't believe we have all this gas that will be coming out of the ground. I don't think it's economical," and he is skeptical production could rise to 30 billion cubic feet.</div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 12px; font-style: inherit; font-weight: inherit; line-height: 15px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 18px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">Again, he said, he is urging patience.</div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 12px; font-style: inherit; font-weight: inherit; line-height: 15px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 18px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">"If I were these companies, I'd put the best spin on it; that's not wrong. But the public is not seeing a lot of the facts. We don't know if the depletion rate is rapid or if the rate will last forever. When I see phrases like 'game changer' or 'new world,' when I hear those terms I get cautious. We need that gas and it's there, we just don't know what it will cost. In an area that covers 100 miles, that shale isn't uniform. This isn't a hoax but we need to slow down and make sure we know what the production will be and what it will cost."</div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 12px; font-style: inherit; font-weight: inherit; line-height: 15px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 18px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">What is not a part of the discussion about the nation's natural gas supplies, Munn added, is the sharp decline in conventional gas production, which he said has sunk to 6 billion cubic feet a day since he began marketing gas.</div>Unknownnoreply@blogger.com9tag:blogger.com,1999:blog-5679133274337151542.post-35175250855252687792011-02-16T03:52:00.001+02:002011-02-16T03:52:40.787+02:00Natural Gas Trucks Coming<div style="clear: both; color: #222222; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">FT. WORTH, TX--(Marketwire - February 15, 2011) - EVCARCO, Inc. (<exchange name="OTCBB">OTCBB</exchange>: <a href="http://www.marketwire.com/mw/stock.jsp?Ticker=EVCA" style="color: #cc0000; text-align: left; text-decoration: none;">EVCA</a>) (<exchange name="OTCQB">OTCQB</exchange>:<a href="http://www.marketwire.com/mw/stock.jsp?Ticker=EVCA" style="color: #cc0000; text-align: left; text-decoration: none;">EVCA</a>) announced today that it will sell CNG powered Foton MD 3000 medium-duty class 3-5 trucks at its green auto dealerships. Foton Motor Co. is the largest commercial vehicle manufacturer in China, its existing assets are in excess of 5 Billion Dollars U.S. and they have a staff of 28,000 employees. Foton has the capacity to produce up to 26,000 units of the Foton MD 3000 medium-duty class 3-5 trucks a year.</div><div style="clear: both; color: #222222; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">The MD 3000 and LD1000 are versatile for multi-use applications and are equipped with cargo delivery bodies. The vehicle's chassis and Euro-style cab design allows for easy multi-conversions for uses such as street sweepers and refuse collection. The truck will allow businesses and municipalities to have a high quality, environmentally friendly, domestically produced clean natural gas solution for all of their truck needs.</div><div style="clear: both; color: #222222; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">Mack Sanders, CEO of EVCARCO, stated, "The MD 3000 and LD1000 CNG powered truck will allow our green auto dealerships to enter the commercial sales arena with a high quality versatile environmentally friendly medium duty truck, DOT compliant and with a full warranty. We expect to receive the first CNG powered Foton 3000 next month. Government support and mandates, which have been the key to the adoption of natural-gas vehicles in the U.S. recently, has confirmed our vision. Our team has worked diligently for some time with the manufacturer's distributor on the development of this project and we are pleased with the results."</div><div style="clear: both; color: #222222; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">For more information on EVCARCO, Inc., please view: <a href="http://ctt.marketwire.com/?release=721119&id=95872&type=1&url=http%3a%2f%2fwww.evcarco.com" style="color: #cc0000; text-align: left; text-decoration: none;">www.evcarco.com</a>. Shareholder inquiries should be directed to (972) 571-1624.</div><div style="clear: both; color: #222222; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">EVCARCO, Inc. is the first automotive retail group dedicated to deploying a coast-to-coast network of environmentally friendly franchised dealerships and vehicles. EVCARCO is bringing to market the most advanced clean technologies available in plug-in electric, alternative fuel, and<br />
pre-owned hybrid vehicles. We live in the communities we work in; our corporate culture reflects the greening aspirations of our customers. Our dealerships are not just a place to buy a vehicle; they are a warm embrace of eco-culture, a place where like minded individuals can interact while getting a quick AltEng refill on their way to work.</div><div style="clear: both; color: #222222; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">This Press Release contains certain forward looking statements that involve substantial risks and uncertainties, including, but not limited to, the results of ongoing clinical studies, economic conditions, product and technology development, production efficiencies, product demand, competitive products, competitive environment, successful testing and government regulatory issues. Additional risks are identified in the company's filings made with the Securities and Exchange Commission.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5679133274337151542.post-45288984106426990962011-02-15T02:17:00.000+02:002011-02-15T02:17:07.150+02:00Penn Residents Worried About Shale<div style="font-family: Arial, sans-serif;">Residents worried about Marcellus Shale natural gas drilling want to make sure Allegheny County Council holds a second public hearing on the subject.</div><div style="font-family: Arial, sans-serif;">Council's agenda for Tuesday night includes a motion to schedule a hearing next month.</div><div style="font-family: Arial, sans-serif;">Gloria Forouzan, of Lawrenceville, said she and other anti-drilling advocates want council members to know the topic is important to many of their constituents.</div><div style="font-family: Arial, sans-serif;">If authorized by a majority of full council, the session would take place 5 p.m. March 10 in the Gold Room of the courthouse.</div><div style="font-family: Arial, sans-serif;">Council had held a similar hearing on July 21.</div><div style="font-family: Arial, sans-serif;">Since that time, County Executive Dan Onorato has come out in support of natural gas drilling on county-owned land, a position that has drawn support from both Republican and Democratic candidates looking to succeed him.</div><div style="font-family: Arial, sans-serif;">County officials have said that any drilling would have to be done in ways that benefit the local community, protect the environment and respect the rights of neighboring property owners.</div><div style="font-family: Arial, sans-serif;">With a primary election coming in May, Ms. Forouzan said the topic deserved another airing. "A lot more people have become concerned about this issue in the past few months," she said. "They need a chance to speak out."</div><div style="font-family: Arial, sans-serif;">Council's government reform committee last week discussed but took no action on three measures that would regulate drilling in the county.</div><div style="font-family: Arial, sans-serif;">Councilman Michael Finnerty, D-Scott, proposed an ordinance to prohibit natural gas wells within 2,000 feet of a residence. Councilmen Rich Fitzgerald, D-Squirrel Hill, and John DeFazio, D-Shaler, proposed a 500-foot buffer zone. Lycoming County had passed a similar regulation, Mr. Fitzgerald said.</div><div style="font-family: Arial, sans-serif;">State law requires only a 200-foot buffer around drilling platforms.</div><div style="font-family: Arial, sans-serif;">Committee members discussed both measures with representatives of the state Department of Environmental Protection and of Range Resources, a drilling company active in Southwestern Pennsylvania.</div><div style="font-family: Arial, sans-serif;">The proposed county restrictions, which would be stricter than state rules, might not be legal, Range Resources spokesman Jim Cannon said. It was not clear if state law would pre-empt local regulations on setbacks, he said.</div><div style="font-family: Arial, sans-serif;">Elizabeth Schneider, a member of Lincoln Place Action group, urged council to pass tougher drilling rules. Even a 500-foot buffer zone was not sufficient to protect neighbors in urban or suburban areas, she said.</div><div style="font-family: Arial, sans-serif;">Councilwoman Jan Rea, R-McCandless, had proposed an ordinance to set up a county disposal registry to keep track of the liquids used to fracture underground rocks and release natural gas.</div><div style="font-family: Arial, sans-serif;">She withdrew her measure after George Jugovic, the EPA's southwest regional director, said the state collected such reports two times a year.</div><span class="Apple-style-span" style="font-family: Arial, sans-serif;"><span><br />
<br />
</span></span>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5679133274337151542.post-43287574901697234022011-02-14T03:11:00.000+02:002011-02-14T03:11:11.684+02:00Worker Still Missing from Mont Belvieu Explosion<div style="color: #224466; font-family: Arial, Tahoma, Verdana; font-size: 12px; line-height: 17px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 15px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Mont Belvieu, TX—One worker is still missing following an explosion and fire at a natural gas liquids plant in Mont Belvieu, Tuesday afternoon, February 8, 2011. The blast occurred around 12:30 p.m. at Enterprise Products petrochemical plant, which is about 30 miles southeast of Houston, as reported by Forbes and Fox News.</div><div style="color: #224466; font-family: Arial, Tahoma, Verdana; font-size: 12px; line-height: 17px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 15px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">A plume of smoke from the explosion and subsequent fire could be seen for 30 miles, as firefighters battled to contain the flames. The fire was so intense that it caused trucks parked in a nearby lot to explode.</div><div style="color: #224466; font-family: Arial, Tahoma, Verdana; font-size: 12px; line-height: 17px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 15px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Officials believe the blast was caused by a “failure of some kind” on one of the plant’s pipelines that feeds liquids into the dome. Another source stated the explosions also occurred in an iso-octane unit.</div><div style="color: #224466; font-family: Arial, Tahoma, Verdana; font-size: 12px; line-height: 17px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 15px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">One worker is still missing following the blast. Details regarding the missing worker have not been released.</div><div style="color: #224466; font-family: Arial, Tahoma, Verdana; font-size: 12px; line-height: 17px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 15px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Enterprise Products Partners is one of the largest NGL fractionation complexes in the world.</div><div style="color: #224466; font-family: Arial, Tahoma, Verdana; font-size: 12px; line-height: 17px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 15px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Investigations are underway.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5679133274337151542.post-85234416562570152852011-02-13T06:42:00.002+02:002011-02-13T06:42:57.071+02:00LNG Plant Ensenada Still a Go<div style="color: #222222; font-family: Georgia, 'Times New Roman', Times, serifl; font-size: 14px; line-height: 20px; list-style-image: initial; list-style-position: initial; list-style-type: none; margin-bottom: 16px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Ensenada officials who attempted to shut down a big natural gas import terminal that supplies Mexican and U.S. customers were rebuffed Friday by Baja California and federal intervention.</div><div style="color: #222222; font-family: Georgia, 'Times New Roman', Times, serifl; font-size: 14px; line-height: 20px; list-style-image: initial; list-style-position: initial; list-style-type: none; margin-bottom: 16px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">"The municipal police came onto the site," said Kathleen Teora, a spokeswoman for San Diego-based Sempra Energy, which owns the Energia Costa Azul plant. "There was an issue between the state, the federal and the municipal authorities."</div><div style="color: #222222; font-family: Georgia, 'Times New Roman', Times, serifl; font-size: 14px; line-height: 20px; list-style-image: initial; list-style-position: initial; list-style-type: none; margin-bottom: 16px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">The plant continued operating, she said.</div><div style="color: #222222; font-family: Georgia, 'Times New Roman', Times, serifl; font-size: 14px; line-height: 20px; list-style-image: initial; list-style-position: initial; list-style-type: none; margin-bottom: 16px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Ensenada Mayor Enrique Pelayo Torres ordered the plant shut down Friday saying there were "irregularities and flagrant violations to the law."</div><div style="color: #222222; font-family: Georgia, 'Times New Roman', Times, serifl; font-size: 14px; line-height: 20px; list-style-image: initial; list-style-position: initial; list-style-type: none; margin-bottom: 16px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Later in the day, however, the president of the Mexican Energy Regulatory Commission sent Pelayo a letter asserting that the plant is operating within the law and that it's up to federal officials, not local politicians, to decide whether it stays open or not.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5679133274337151542.post-33916309284904474222011-02-10T03:08:00.001+02:002011-02-10T03:08:44.184+02:00Chevron Finds More Natural Gas in Australia<span class="Apple-style-span" style="color: #363636; font-family: Arial, Helvetica, sans-serif; font-size: 12px;">SAN RAMON, Calif., Feb 09, 2011 (M2 PRESSWIRE via COMTEX) --</span><br />
<div style="color: #363636; font-family: Arial, Helvetica, sans-serif; font-size: 12px; overflow-x: hidden; overflow-y: hidden; width: auto;">Chevron Corporation (NYSE: <span class="tmSymbol_filter" rel="CVX">CVX | <a href="http://pr.tradingmarkets.com/chart/CVX/" id="tipb_0" style="color: blue; text-decoration: underline;">PowerRating</a></span>) today announced a further drilling success in the Carnarvon Basin offshore Western Australia, Australia's premier hydrocarbon basin.</div><div style="color: #363636; font-family: Arial, Helvetica, sans-serif; font-size: 12px; overflow-x: hidden; overflow-y: hidden; width: auto;">The Orthrus-2 well is located in the WA-24-R permit area approximately 60 miles (100 kilometers) northwest of Barrow Island. The well was drilled to a total depth of 14,098 feet (4,297 meters).</div><div style="color: #363636; font-family: Arial, Helvetica, sans-serif; font-size: 12px; overflow-x: hidden; overflow-y: hidden; width: auto;">Combining both appraisal and exploration objectives, the well encountered 243 feet (74 meters) of net gas pay, of which 102 feet (31 meters) of net gas pay was encountered in a deeper, previously unexplored <a class="kLink" href="http://www.tradingmarkets.com/news/press-release/cvx_-chevron-announces-further-natural-gas-find-in-australia-1480190.html#" id="KonaLink0" style="background-attachment: initial !important; background-clip: initial !important; background-color: transparent !important; background-image: none !important; background-origin: initial !important; background-position: initial initial !important; background-repeat: initial initial !important; border-bottom-color: transparent !important; border-bottom-style: none !important; border-bottom-width: 0px !important; border-left-color: transparent !important; border-left-style: none !important; border-left-width: 0px !important; border-right-color: transparent !important; border-right-style: none !important; border-right-width: 0px !important; border-top-color: transparent !important; border-top-style: none !important; border-top-width: 0px !important; bottom: 0px; color: rgb(51, 153, 0) !important; cursor: pointer; display: inline !important; font-family: inherit !important; font-size: inherit !important; font-variant: normal; font-weight: inherit !important; left: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: none; outline-width: initial; padding-bottom: 0px !important; padding-left: 0px !important; padding-right: 0px !important; padding-top: 0px !important; position: static; right: 0px; text-decoration: underline !important; text-transform: none !important; top: 0px;"><span style="color: rgb(51, 153, 0) !important; font-family: inherit !important; font-size: inherit !important; font-weight: inherit !important; position: static;"><span class="kLink" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: none; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-color: initial; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: initial !important; border-left-style: none !important; border-left-width: 0px !important; border-right-color: initial !important; border-right-style: none !important; border-right-width: 0px !important; border-top-color: initial !important; border-top-style: none !important; border-top-width: 0px !important; color: rgb(51, 153, 0) !important; display: inline !important; float: none !important; font-family: inherit !important; font-size: inherit !important; font-weight: inherit !important; padding-bottom: 1px !important; padding-left: 0px !important; padding-right: 0px !important; padding-top: 0px !important; position: static; width: auto !important;">target</span></span></a> interval in the Orthrus field.</div><div style="color: #363636; font-family: Arial, Helvetica, sans-serif; font-size: 12px; overflow-x: hidden; overflow-y: hidden; width: auto;">George Kirkland, vice chairman, Chevron, said, "The find at Orthrus-2 represents our tenth offshore discovery in Australia within the past 18 months. Our successful drilling program offshore Western Australia demonstrates Chevron's global exploration capability and our commitment to technical excellence and safe operations."</div><div style="color: #363636; font-family: Arial, Helvetica, sans-serif; font-size: 12px; overflow-x: hidden; overflow-y: hidden; width: auto;">Jim Blackwell, president, Chevron Asia Pacific Exploration and Production, said, "Our leading Carnarvon Basin leasehold and our accompanying exploration success help underpin further expansion opportunities on the Gorgon Project."</div><div style="color: #363636; font-family: Arial, Helvetica, sans-serif; font-size: 12px; overflow-x: hidden; overflow-y: hidden; width: auto;">Chevron's Australian subsidiary is the operator of WA-24-R and holds a 50 percent interest, while <a class="kLink" href="http://www.tradingmarkets.com/news/press-release/cvx_-chevron-announces-further-natural-gas-find-in-australia-1480190.html#" id="KonaLink1" style="background-attachment: initial !important; background-clip: initial !important; background-color: transparent !important; background-image: none !important; background-origin: initial !important; background-position: initial initial !important; background-repeat: initial initial !important; border-bottom-color: transparent !important; border-bottom-style: none !important; border-bottom-width: 0px !important; border-left-color: transparent !important; border-left-style: none !important; border-left-width: 0px !important; border-right-color: transparent !important; border-right-style: none !important; border-right-width: 0px !important; border-top-color: transparent !important; border-top-style: none !important; border-top-width: 0px !important; bottom: 0px; color: rgb(51, 153, 0) !important; cursor: pointer; display: inline !important; font-family: inherit !important; font-size: inherit !important; font-variant: normal; font-weight: inherit !important; left: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: none; outline-width: initial; padding-bottom: 0px !important; padding-left: 0px !important; padding-right: 0px !important; padding-top: 0px !important; position: static; right: 0px; text-decoration: underline !important; text-transform: none !important; top: 0px;"><span style="color: rgb(51, 153, 0) !important; font-family: inherit !important; font-size: inherit !important; font-weight: inherit !important; position: static;"><span class="kLink" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: none; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-color: initial; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: initial !important; border-left-style: none !important; border-left-width: 0px !important; border-right-color: initial !important; border-right-style: none !important; border-right-width: 0px !important; border-top-color: initial !important; border-top-style: none !important; border-top-width: 0px !important; color: rgb(51, 153, 0) !important; display: inline !important; float: none !important; font-family: inherit !important; font-size: inherit !important; font-weight: inherit !important; padding-bottom: 1px !important; padding-left: 0px !important; padding-right: 0px !important; padding-top: 0px !important; position: static; width: auto !important;">Mobil</span></span></a> Australia Resources Company Pty Limited holds 25 percent. Shell Development (Australia) Pty Ltd and BP Exploration Alpha Ltd each hold a 12.5 percent interest.</div><div style="color: #363636; font-family: Arial, Helvetica, sans-serif; font-size: 12px; overflow-x: hidden; overflow-y: hidden; width: auto;">Chevron is one of the world's leading integrated energy companies, with subsidiaries that conduct <a class="kLink" href="http://www.tradingmarkets.com/news/press-release/cvx_-chevron-announces-further-natural-gas-find-in-australia-1480190.html#" id="KonaLink2" style="background-attachment: initial !important; background-clip: initial !important; background-color: transparent !important; background-image: none !important; background-origin: initial !important; background-position: initial initial !important; background-repeat: initial initial !important; border-bottom-color: transparent !important; border-bottom-style: none !important; border-bottom-width: 0px !important; border-left-color: transparent !important; border-left-style: none !important; border-left-width: 0px !important; border-right-color: transparent !important; border-right-style: none !important; border-right-width: 0px !important; border-top-color: transparent !important; border-top-style: none !important; border-top-width: 0px !important; bottom: 0px; color: rgb(51, 153, 0) !important; cursor: pointer; display: inline !important; font-family: inherit !important; font-size: inherit !important; font-variant: normal; font-weight: inherit !important; left: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: none; outline-width: initial; padding-bottom: 0px !important; padding-left: 0px !important; padding-right: 0px !important; padding-top: 0px !important; position: static; right: 0px; text-decoration: underline !important; text-transform: none !important; top: 0px;"><span style="color: rgb(51, 153, 0) !important; font-family: inherit !important; font-size: inherit !important; font-weight: inherit !important; position: static;"><span class="kLink" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: none; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-color: rgb(51, 153, 0); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: initial !important; border-left-style: none !important; border-left-width: 0px !important; border-right-color: initial !important; border-right-style: none !important; border-right-width: 0px !important; border-top-color: initial !important; border-top-style: none !important; border-top-width: 0px !important; color: rgb(51, 153, 0) !important; display: inline !important; float: none !important; font-family: inherit !important; font-size: inherit !important; font-weight: inherit !important; padding-bottom: 1px !important; padding-left: 0px !important; padding-right: 0px !important; padding-top: 0px !important; position: static; width: auto !important;">business</span></span></a> worldwide. The company's success is driven by the ingenuity and commitment of its employees and their application of the most innovative technologies in the world. Chevron is involved in virtually every facet of the energy <a class="kLink" href="http://www.tradingmarkets.com/news/press-release/cvx_-chevron-announces-further-natural-gas-find-in-australia-1480190.html#" id="KonaLink3" style="background-attachment: initial !important; background-clip: initial !important; background-color: transparent !important; background-image: none !important; background-origin: initial !important; background-position: initial initial !important; background-repeat: initial initial !important; border-bottom-color: transparent !important; border-bottom-style: none !important; border-bottom-width: 0px !important; border-left-color: transparent !important; border-left-style: none !important; border-left-width: 0px !important; border-right-color: transparent !important; border-right-style: none !important; border-right-width: 0px !important; border-top-color: transparent !important; border-top-style: none !important; border-top-width: 0px !important; bottom: 0px; color: rgb(51, 153, 0) !important; cursor: pointer; display: inline !important; font-family: inherit !important; font-size: inherit !important; font-variant: normal; font-weight: inherit !important; left: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: none; outline-width: initial; padding-bottom: 0px !important; padding-left: 0px !important; padding-right: 0px !important; padding-top: 0px !important; position: static; right: 0px; text-decoration: underline !important; text-transform: none !important; top: 0px;"><span style="color: rgb(51, 153, 0) !important; font-family: inherit !important; font-size: inherit !important; font-weight: inherit !important; position: static;"><span class="kLink" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: none; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-color: rgb(51, 153, 0); border-bottom-style: solid; border-bottom-width: 1px; border-left-color: initial !important; border-left-style: none !important; border-left-width: 0px !important; border-right-color: initial !important; border-right-style: none !important; border-right-width: 0px !important; border-top-color: initial !important; border-top-style: none !important; border-top-width: 0px !important; color: rgb(51, 153, 0) !important; display: inline !important; float: none !important; font-family: inherit !important; font-size: inherit !important; font-weight: inherit !important; padding-bottom: 1px !important; padding-left: 0px !important; padding-right: 0px !important; padding-top: 0px !important; position: static; width: auto !important;">industry</span></span></a>. The company explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and other energy products;<a class="kLink" href="http://www.tradingmarkets.com/news/press-release/cvx_-chevron-announces-further-natural-gas-find-in-australia-1480190.html#" id="KonaLink4" style="background-attachment: initial !important; background-clip: initial !important; background-color: transparent !important; background-image: none !important; background-origin: initial !important; background-position: initial initial !important; background-repeat: initial initial !important; border-bottom-color: transparent !important; border-bottom-style: none !important; border-bottom-width: 0px !important; border-left-color: transparent !important; border-left-style: none !important; border-left-width: 0px !important; border-right-color: transparent !important; border-right-style: none !important; border-right-width: 0px !important; border-top-color: transparent !important; border-top-style: none !important; border-top-width: 0px !important; bottom: 0px; color: rgb(51, 153, 0) !important; cursor: pointer; display: inline !important; font-family: inherit !important; font-size: inherit !important; font-variant: normal; font-weight: inherit !important; left: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: none; outline-width: initial; padding-bottom: 0px !important; padding-left: 0px !important; padding-right: 0px !important; padding-top: 0px !important; position: static; right: 0px; text-decoration: underline !important; text-transform: none !important; top: 0px;"><span style="color: rgb(51, 153, 0) !important; font-family: inherit !important; font-size: inherit !important; font-weight: inherit !important; position: static;"><span class="kLink" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: none; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-color: initial; border-bottom-style: solid; border-bottom-width: 1px; border-left-color: initial !important; border-left-style: none !important; border-left-width: 0px !important; border-right-color: initial !important; border-right-style: none !important; border-right-width: 0px !important; border-top-color: initial !important; border-top-style: none !important; border-top-width: 0px !important; color: rgb(51, 153, 0) !important; display: inline !important; float: none !important; font-family: inherit !important; font-size: inherit !important; font-weight: inherit !important; padding-bottom: 1px !important; padding-left: 0px !important; padding-right: 0px !important; padding-top: 0px !important; position: static; width: auto !important;">manufactures</span></span></a> and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops the energy resources of the future, including biofuels. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5679133274337151542.post-57270985104209334352011-02-09T03:25:00.002+02:002011-02-09T03:25:17.112+02:00Insignia Energy Upbeat<span class="Apple-style-span" style="-webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px; font-family: Helvetica, Arial, Verdana, sans-serif; font-size: 13px;"></span><br />
<div style="color: black; font-family: helvetica, arial, sans-serif; font-size: 13px; font-weight: normal; margin-bottom: 13px; margin-left: 0px; margin-right: 0px; margin-top: 13px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"><span class="xn-location" style="font-family: Helvetica, Arial, Verdana, sans-serif; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">CALGARY</span>, <span class="xn-chron" style="font-family: Helvetica, Arial, Verdana, sans-serif; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Feb. 8</span> /CNW/ - Insignia Energy Ltd. ("<b style="color: black; font-family: Helvetica, Arial, Verdana, sans-serif; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">ISN</b>" - TSX) ("<b style="color: black; font-family: Helvetica, Arial, Verdana, sans-serif; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Insignia</b>" or the "<b style="color: black; font-family: Helvetica, Arial, Verdana, sans-serif; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Company</b>") is pleased to announce the results of its independent reserve evaluation, effective <span class="xn-chron" style="font-family: Helvetica, Arial, Verdana, sans-serif; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">December 31, 2010</span>, of the Company's reserves by GLJ Petroleum Consultants Ltd. ("<b style="color: black; font-family: Helvetica, Arial, Verdana, sans-serif; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">GLJ</b>").</div><div style="color: black; font-family: helvetica, arial, sans-serif; font-size: 13px; font-weight: normal; margin-bottom: 13px; margin-left: 0px; margin-right: 0px; margin-top: 13px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"><u style="font-family: Helvetica, Arial, Verdana, sans-serif; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"><b style="color: black; font-family: Helvetica, Arial, Verdana, sans-serif; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">2010 YEAR-END RESERVE HIGHLIGHTS</b></u></div><ul style="font-family: Helvetica, Arial, Verdana, sans-serif; list-style-type: disc; margin-bottom: 0px; margin-left: 30px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"><li style="font-family: Helvetica, Arial, Verdana, sans-serif; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Proved producing reserves increase by 34% to 3.9 MMboe, proved reserves increased by 14% to 6.2 MMboe and proved plus probable ("<b style="font-family: Helvetica, Arial, Verdana, sans-serif; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">P+P</b>") reserves increased by 10% to 14.7 MMboe, compared to 2009 year end levels, on a per share basis and on an absolute basis.</li>
<li style="font-family: Helvetica, Arial, Verdana, sans-serif; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Insignia's reserve additions totaled 2.4 MMboe on P+P reserves and 1.8 MMboe on proved reserves.</li>
<li style="font-family: Helvetica, Arial, Verdana, sans-serif; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">The Company increased its oil and natural gas liquid reserves by 98% and 77% on total proved and total P+P reserves, respectively, compared to its 2009 year end reserves.</li>
<li style="font-family: Helvetica, Arial, Verdana, sans-serif; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Based on fourth quarter 2010 average production of 3,289 boe per day, Insignia's reserve life index ("<b style="font-family: Helvetica, Arial, Verdana, sans-serif; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">RLI</b>") is 12.2 years on P+P basis and 5.1 years on a proved basis</li>
</ul>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5679133274337151542.post-65651307332722134842011-02-08T02:08:00.001+02:002011-02-08T02:08:33.282+02:00Gas Trader Pleads Guilty<div style="font-family: Arial, Helvetica, sans-serif; font-size: 13px;">HOUSTON—Former Houston gas trader Stephanie Roqumore has pleaded guilty to two counts of wire fraud arising from her scheme to defraud numerous natural gas trading companies of nearly $8 million, United States José Angel Moreno announced today.</div><div style="font-family: Arial, Helvetica, sans-serif; font-size: 13px;">Today, at a hearing before United States District Judge Lynn N. Hughes, Roqumore, 48, admitted that from March 2002 through April 2010, she used false and fraudulent financial statements to defraud 12 known companies—Virginia Power Energy Marketing, Inc.; Coral Energy Resources, L.P.; Occidental Energy Marketing, Inc.; Energy-Koch Trading, L.P.; Cargill, Inc.; Hess Corporation; Natural Fuel Resources, Inc.; Proliance Energy, LLC; Southwest Energy, L.P.; Adams Resource Marketing, LTD; Allegheny Energy; and CMS Resource Energy Management Company. Judge Hughes scheduled Roqumore’s sentencing for May 9, 2011. Each of the wire care fraud counts carries a maximum penalty of 20 years in a federal prison and a $250,000 fine. In addition to pleading to the criminal charges, Roqumore has agreed to a forfeiture order of over $4.8 million in illegal proceeds from her scheme.</div><div style="font-family: Arial, Helvetica, sans-serif; font-size: 13px;">Roqumore admitted that as the sole employee, owner, and operator of three natural gas trading companies: SRR Energy Management Resources, Inc, d/b/a Gas Energy Management, Inc. (GEM); Gas American Resources, Inc. (GAR); and, Resource American Energy (RAE), she contacted natural gas trading companies all over the country requesting to trade natural gas with them. If the company was interested in trading with Roqumore, the two parties entered into a Base Contract for Sale and Purchase of Natural Gas. Shortly after entering into the contract, Roqumore would request a line of credit from the trading company in order to purchase natural gas from them. The companies required financial statements from Roqumore for whichever of her three companies she was using at the time. The line of credit was granted based on the net worth of the company provided in its financials. The financial statements that Roqumore provided to obtain the lines of credit were intentionally falsified by her to make her companies (GEM, GAR and RAE) appear to be more profitable and worth far more than they actually were.</div><div style="font-family: Arial, Helvetica, sans-serif; font-size: 13px;">She further admitted the false financial statements for GEM or GAR were faxed by Roqumore under a cover letter purportedly from an actual Certified Public Accountant (C.P.A.). The attached sheets were stamped "audited" and always showed Roqumore's companies, whether GEM or GAR, with a net year-end income in the millions of dollars. Roqumore admitted that she falsified the cover letters also and that the C.P.A. played no role in her fraudulent behavior. The fraudulent financials showed year-end net incomes for GEM and GAR for 2003 to 2006 in the multi-millions, when in fact neither company’s yearly net income ever exceeded $100K and their ending net income was usually negative. Roqumore also created fraudulent financials for RAE for the same purposes. The RAE financials, however, were sent under a cover letter from a fictitious C.P.A. firm, R&R Accounting and Consulting Group, in Houston.</div><div style="font-family: Arial, Helvetica, sans-serif; font-size: 13px;">Roqumore admitted purchasing natural gas from one of the victim companies using the fraudulently obtained line of credit and then selling that natural gas to other gas companies. When the trades settled, Roqumore was paid for the gas she sold but she did not pay the victim company for the gas she bought. For example, from November to December 2005, Energy-Koch Trading, L.P. (EKT) sold GEM $1.1 million of natural gas on credit. Roqumore, in turn, sold that natural gas to four other companies for just under $1.1 million. On the settlement dates, GEM was paid a total of $1,092,187.80 by the four companies, but GEM paid EKT only $50,000. Roqumore never paid EKT the remaining $1,046,331.20 for the natural gas she purchased from them. On August 30, 2006, Roqumore faxed fraudulent financial statements showing a net income of more than $10 million for GAR to National Fuel Resources, Inc. (NFR). Another time, Natural Fuel Resources, Inc. (NFR) sold GAR $1.6 million of natural gas on credit. Roqumore, in turn, sold that natural gas to Conoco Phillips for just over $1.6 million. On the settlement dates, GAR was paid $1,649,730.00 by Conoco Phillips but GAR paid NFR only $100,000. Roqumore never paid NFR the remaining $1,494,617.00 for the natural gas she purchased from them. In total, Roqumore fraudulently obtained approximately $7.9 million in natural gas on credit from the 12 energy companies from March 2002 through April 2010. Roqumore never paid for that natural gas.</div><div style="font-family: Arial, Helvetica, sans-serif; font-size: 13px;">Roqumore remains free on bond pending sentencing.</div><div style="font-family: Arial, Helvetica, sans-serif; font-size: 13px;">The investigation leading to the criminal charges and today’s conviction was conducted by the FBI. Assistant United States Attorney Al Balboni is prosecuting the case.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5679133274337151542.post-58808946854124473762011-02-05T02:00:00.002+02:002011-02-05T02:00:55.144+02:00Tucson Area Had Natural Gas Shortage This Week<span class="Apple-style-span" style="font-family: Arial, Helvetica, sans-serif; font-size: 13px; line-height: 16px;"></span><br />
<div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; line-height: 18px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">Some Tucson-area customers may be without natural gas service as late as Monday or Tuesday, Southwest Gas spokeswoman Libby Howell said.</div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; line-height: 18px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">The utility is bringing in about 70 workers from elsewhere to help re-start gas service at homes on Tucson's east side.</div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; line-height: 18px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">About 14,000 Tucson homes east of North Swan Road in the Catalina Foothills and in the Rita Ranch area have been without natural gas service since this morning, Howell said.</div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; line-height: 18px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">Southwest Gas workers will have to go door-to-door in those areas twice, Howell said. First they will turn off the meters at each house, then they will go inside each house to light pilot lights and ensure service has resumed, Howell said.</div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; line-height: 18px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">In response to the outages and record cold, city officials are opening two shelters at 5 p.m. today. They are at Udall Center, 7200 E. Tanque Verde Road and Pantano Christian Church, 10355 E. 29th St.</div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; line-height: 18px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">The Udall location will permit pets but only if they are in crates, and the Pantano location will not accept pets.</div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; line-height: 18px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">A shortage of natural gas in the pipeline that serves Tucson left areas on Tucson's northeast and southeast sides without gas service beginning this morning.</div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; line-height: 18px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">The southern part of Sierra Vista, down to Hereford, also is without gas service. Cochise County has set up temporary warming centers, not equipped as shelters, in Benson, Bisbee, Douglas, Sierra Vista and Willcox.</div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; line-height: 18px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">The places most affected around Tucson are from North Swan Road eastward in the Catalina Foothills to North Wentworth Road and the Rita Ranch area on the southeast side.</div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; line-height: 18px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">Southwest Gas is asking customers who still have natural-gas service to limit their use by turning down the heat and reducing hot-water usage.</div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; line-height: 18px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">The reason for the shortage is not only the high demand by residential customers but also high demand by power companies to fuel their plants, El Paso Natural Gas said in a news release. In addition, power outages and freeze-offs in the areas that supply gas have reduced the supply.</div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; line-height: 18px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">“More gas is being taken off our system than we have supplies coming into the system,” El Paso said.</div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; line-height: 18px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">El Paso supplies the gas used by Southwest’s customers, while Southwest runs the local distribution system. El Paso said it is shifting all the gas possible into its pipeline.</div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; line-height: 18px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">East-side resident Donna Ester said her thermostat was set at 60 degrees all night but the gas went out before it automatically goes up during the day. The result: the indoor temperature was in the low 50s all day and promised to go further down.</div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; line-height: 18px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">“I worry most about my cat because he is always cold,” Ester said via e-mail. “I’ve been heating up a neckwarmer in the microwave and putting it in his bed.”</div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; line-height: 18px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">A drop in the pipeline's pressure began knocking out customers' service around 6:30 a.m., Howell said. As the extent of the problem became clear, the utility turned off service to affected areas.</div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; line-height: 18px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">It’s a scary scenario for elderly people living in Hereford, resident Beverly Manigault said. The temperature dropped below zero in their area, which lies in a dip near the Huachuca Mountains, she said.</div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; line-height: 18px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">Electric space heaters are sold out at local retail stores, but Manigault’s husband was able to buy three at the store on Fort Huachuca, she said.</div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; line-height: 18px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">They’re using two in their home and gave the other to an elderly neighbor, she said.</div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; line-height: 18px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">At Loew's Ventana Canyon resort, on the northeast side, 400 guests found themselves without heat today, General Manager Brian Johnson said. The resort adjusted by serving mostly cold items in the restaurants and providing extra blankets to guests.</div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; line-height: 18px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">About 10 guests checked out as a result, he said. Guests may also request to be moved to another inn, he said.</div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; line-height: 18px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">The resort's engineers also examined the gas fireplace in the resort's lobby and determined it could be used to burn wood, so logs are flaming there now, Johnson said.</div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; line-height: 18px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">"A lot of guests we’ve talked to have been very understanding," he said. "It’s totally out of our control."</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5679133274337151542.post-17662295051961168922011-02-02T03:07:00.002+02:002011-02-02T03:07:59.883+02:00Natural Gas Processing Complex Deal is Done<span class="Apple-style-span" style="color: #333333; font-family: Arial, Helvetica, sans-serif; font-size: 13px;">ENVER & PITTSBURGH--(</span><span class="Apple-style-span" style="color: #333333; font-family: Arial, Helvetica, sans-serif; font-size: 13px;"><a href="http://www.businesswire.com/" style="color: #226db3; text-decoration: underline !important;">BUSINESS WIRE</a></span><span class="Apple-style-span" style="color: #333333; font-family: Arial, Helvetica, sans-serif; font-size: 13px;">)--MarkWest Energy Partners, L.P. (MarkWest) (NYSE: MWE) and EQT Corporation (EQT) (NYSE: EQT) today announced the closing of MarkWest’s previously announced acquisition of EQT’s natural gas processing complex in Langley, Kentucky and an associated natural gas liquids (NGL) pipeline for $230 million.</span><span class="Apple-style-span" style="color: #333333; font-family: Arial, Helvetica, sans-serif; font-size: 13px;">The acquisition includes a 100 million cubic feet per day (MMcf/d) cryogenic processing plant, a 75 MMcf/d refrigeration processing plant, approximately 28,000 horsepower of compression, and a partially constructed NGL pipeline that MarkWest will complete. In conjunction with the acquisition, MarkWest executed a long-term agreement with EQT to provide processing services for EQT’s Kentucky Huron shale gas and to extend its existing agreement with EQT to provide NGL transportation, fractionation, and marketing services.</span><br />
<div id="story" style="color: #333333; font-family: Arial, Helvetica, sans-serif; font-size: small;"><div style="font-size: 13px; margin-bottom: 1.39em; margin-left: 0px; margin-right: 0px; margin-top: 0px;">“We are very pleased to complete the acquisition of the Langley processing facility and NGL pipeline, which will expand our extensive midstream capabilities in the Marcellus and Huron/Berea shales,” said Frank Semple, chairman, president and chief executive officer of MarkWest. “We are also excited about the quality group of EQT employees who have joined the MarkWest team. We have been a leader in providing fully integrated midstream services in the Northeast for more 20 years and the new facilities and enhanced organization in Kentucky will strengthen our capabilities and provide long-term value to MarkWest and to EQT.”</div><div style="font-size: 13px; margin-bottom: 1.39em; margin-left: 0px; margin-right: 0px; margin-top: 0px;">“We look forward to working with MarkWest in support of the development of our liquids rich plays, Marcellus Shale in West Virginia and Huron Shale in Kentucky," said David Porges, president and chief executive officer of EQT.</div><div style="font-size: 13px; margin-bottom: 1.39em; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><b>About MarkWest</b></div><div style="font-size: 13px; margin-bottom: 1.39em; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><b>MarkWest Energy Partners, L.P.</b> is a master limited partnership engaged in the gathering, transportation, and processing of natural gas; the transportation, fractionation, marketing, and storage of natural gas liquids; and the gathering and transportation of crude oil. MarkWest has extensive natural gas gathering, processing, and transmission operations in the southwest, Gulf Coast, and northeast regions of the United States, including the Marcellus Shale, and is the largest natural gas processor in the Appalachian region.</div><div style="font-size: 13px; margin-bottom: 1.39em; margin-left: 0px; margin-right: 0px; margin-top: 0px;">This press release includes “forward-looking statements.” All statements other than statements of historical facts included or incorporated herein may constitute forward-looking statements. Actual results could vary significantly from those expressed or implied in such statements and are subject to a number of risks and uncertainties. Although MarkWest believes that the expectations reflected in the forward-looking statements are reasonable, MarkWest can give no assurance that such expectations will prove to be correct. The forward-looking statements involve risks and uncertainties that affect MarkWest’s operations, financial performance, and other factors as discussed in its filings with the Securities and Exchange Commission. Among the factors that could cause results to differ materially are those risks discussed in the periodic reports MarkWest files with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2009, and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2010. You are urged to carefully review and consider the cautionary statements and other disclosures made in those filings, specifically those under the heading “Risk Factors.” MarkWest does not undertake any duty to update any forward-looking statement except as required by law.</div><div style="font-size: 13px; margin-bottom: 1.39em; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><b>About EQT</b></div><div style="font-size: 13px; margin-bottom: 1.39em; margin-left: 0px; margin-right: 0px; margin-top: 0px;">EQT Corporation is an integrated energy company with emphasis on Appalachian area natural gas production, gathering, transmission and distribution. Additional information about the company can be obtained through the company's web site, <a href="http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.eqt.com&esheet=6593938&lan=en-US&anchor=http%3A%2F%2Fwww.eqt.com&index=1&md5=483bde4606cf6a42ea84af5ded95a88e" style="color: #226db3; text-decoration: underline !important;" target="_blank">http://www.eqt.com</a>; Investor information is available on that site at <a href="http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fir.eqt.com&esheet=6593938&lan=en-US&anchor=http%3A%2F%2Fir.eqt.com&index=2&md5=837e1f9e32f178e50c82f2315fea81a4" style="color: #226db3; text-decoration: underline !important;" target="_blank">http://ir.eqt.com</a>. EQT Corporation uses its web site as a channel of distribution of important information about the company, and routinely posts financial and other important information regarding the company and its financial condition and operations on the Investors web pages.</div><div style="font-size: 13px; margin-bottom: 1.39em; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Wells Fargo Securities, LLC advised EQT on this transaction.</div><div style="font-size: 13px; margin-bottom: 1.39em; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><b>EQT Cautionary Statements</b></div><div style="font-size: 13px; margin-bottom: 1.39em; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Disclosures in this press release contain forward-looking statements. Statements that do not relate strictly to historical or current facts are forward-looking. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include EQT's guidance regarding the availability of processing capacity and NGL transportation, fractionation and marketing services following the transaction. These statements involve risks and uncertainties that could cause actual results to differ materially from projected results. Accordingly, investors should not place undue reliance on forward-looking statements on current expectations and assumptions about the future events. While EQT considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks and uncertainties, most of which are difficult to predict and many of which are beyond EQT's control. The risks and uncertainties that may affect the operations, performance and results of EQT's business and forward-looking statements include, but are not limited to, those set forth under Item 1A, "Risk Factors" of EQT's Form 10-K filed for the year ended December 31, 2009 and in the company’s 10-K for the year ended December 31, 2010 to be filed with the Securities and Exchange Commission, as updated by any subsequent Form 10-Qs.</div><div style="font-size: 13px; margin-bottom: 1.39em; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Any forward-looking statement speaks only as of the date on which such statement is made and the company does not intend to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise.</div></div><div id="releaseBottom" style="clear: both; color: #333333; display: block; font-family: Arial, Helvetica, sans-serif; font-size: small; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><div class="epi-chromeBorder" id="contacts" style="background-color: #0076b6; margin-bottom: 1.4em; margin-left: 0px; margin-right: 0px; margin-top: 1.4em; padding-bottom: 1px; padding-left: 1px; padding-right: 1px; padding-top: 1px; width: 397px;"><div class="hd"><h2 class="c epi-chromeHeader" style="background-color: #0076b6; border-bottom-color: rgb(212, 229, 195); border-left-color: rgb(212, 229, 195); border-right-color: rgb(212, 229, 195); border-top-color: initial; border-top-style: initial; border-top-width: 0px; color: white; font-size: small; font-weight: bold; font: normal normal bold small/normal Arial, Helvetica, sans-serif; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 3px; padding-left: 6px; padding-right: 6px; padding-top: 3px;">Contacts</h2></div><div class="bd" id="contactsBody" style="padding-bottom: 1px; padding-left: 1px; padding-right: 1px; padding-top: 1px;"><div class="c epi-blockBGColor" style="background-color: white; padding-bottom: 5px; padding-left: 5px; padding-right: 5px; padding-top: 5px;"><div><div style="font-size: 13px; margin-bottom: 1.39em; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><b>MarkWest Energy Partners</b><br />
Frank Semple, 866-858-0482<br />
Chairman, President & CEO<br />
or<br />
Nancy Buese, 866-858-0482<br />
Senior VP and CFO<br />
or<br />
Dan Campbell, 866-858-0482<br />
VP of Finance & Treasurer<br />
<a href="mailto:investorrelations@markwest.com" style="color: #226db3; text-decoration: none;" target="_blank">investorrelations@markwest.com</a><br />
or<br />
<b>EQT</b><br />
<b>Analysts:</b><br />
Patrick Kane, 412-553-7833<br />
Chief IR Officer<br />
<a href="mailto:pkane@eqt.com" style="color: #226db3; text-decoration: none;" target="_blank">pkane@eqt.com</a><br />
<b>Media:</b><br />
Karla Olsen, 412-553-5726<br />
Public Relations Manager<br />
<a href="mailto:kolsen@eqt.com" style="color: #226db3; text-decoration: none;" target="_blank">kolsen@eqt.com</a></div><div style="font-size: 13px; margin-bottom: 1.39em; margin-left: 0px; margin-right: 0px; margin-top: 0px;"></div></div></div></div></div><div class="ndmSection" style="margin-bottom: 1.39em; min-height: 1px;"></div></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5679133274337151542.post-57182140195464704292011-01-30T02:39:00.000+02:002011-01-30T02:39:08.742+02:00ExxonMobil Sees Future Profit in Natural Gas<div style="font-family: arial, verdana, 'Lucida Grande', sans-serif; font-size: 11px;">Expanding prosperity for a growing world population will drive an increase in energy demand of about 35 percent by 2030 compared to 2005, even with significant efficiency gains, and natural gas will emerge as the second-largest energy source behind oil, ExxonMobil said today as it released its new edition of <i>Outlook for Energy: A View to 2030</i>.</div><div style="font-family: arial, verdana, 'Lucida Grande', sans-serif; font-size: 11px;">The growing use of natural gas and other less-carbon intensive energy supplies, combined with greater energy efficiency in nations around the world, will help mitigate environmental impacts of increased energy demand. According to the <i>Outlook</i>, global energy-related carbon dioxide emissions growth will be lower than the projected average rate of growth in energy demand.</div><div style="font-family: arial, verdana, 'Lucida Grande', sans-serif; font-size: 11px;">“Our energy outlook clearly points to a growing demand for energy globally which reflects improving living standards for millions of people around the world. ExxonMobil will continue to invest in technology and innovation to develop new economic energy supplies to help meet this demand while looking for ways to reduce environmental impacts,” said Rex W. Tillerson, chairman and chief executive officer.</div><div style="font-family: arial, verdana, 'Lucida Grande', sans-serif; font-size: 11px;">“The forecasts also show a shift toward natural gas as businesses and governments look for reliable, affordable and cleaner ways to meet energy needs,” Tillerson said. “Newly unlocked supplies of shale gas and other unconventional energy sources will be vital in meeting this demand.”</div><div style="font-family: arial, verdana, 'Lucida Grande', sans-serif; font-size: 11px;">The <i>Outlook for Energy</i> is developed annually to help guide ExxonMobil’s global investment decisions. The company shares the findings publicly to increase understanding of the world’s energy needs and challenges. The outlook is the result of a detailed analysis of approximately 100 countries, 15 demand sectors and 20 fuel types and is underpinned by economic and population projections and expectations of significant energy efficiency improvements and technology advancements.</div><div style="font-family: arial, verdana, 'Lucida Grande', sans-serif; font-size: 11px;">Rising electricity demand -- and the choice of fuels used to generate that electricity -- represent a key focus area, which will have a major impact on the global energy landscape over the next two decades. According to the outlook, global electricity demand will rise by more than 80 percent through 2030 from 2005 levels. In the non-OECD (Organization for Economic Co-operation and Development) countries alone demand will soar by more than 150 percent as economic and social development improve and more people gain access to electricity.</div><div style="font-family: arial, verdana, 'Lucida Grande', sans-serif; font-size: 11px;">According to ExxonMobil’s <i>Outlook</i>, efforts to ensure reliable, affordable energy while also limiting greenhouse gas emissions will lead to polices in many countries that put a cost on carbon dioxide emissions. As a result, abundant supplies of natural gas will become increasingly competitive as an economic source of electric power as its use results in up to 60 percent fewer CO2 emissions than coal in generating electricity. Demand for natural gas for power generation is expected to rise by about 85 percent from 2005 to 2030 when natural gas will provide more than a quarter of the world’s electricity needs. Natural gas demand is rising in every region of the world but growth is strongest in non-OECD countries, particularly China where demand in 2030 will be approximately six times what it was in 2005.</div><span class="Apple-style-span" style="font-family: arial, verdana, 'Lucida Grande', sans-serif; font-size: 11px;"><span><br />
<br />
</span></span>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5679133274337151542.post-70835509598820324462011-01-25T05:52:00.001+02:002011-01-25T05:52:14.366+02:00Shale Still in Play for Some<span class="Apple-style-span" style="color: #333333; font-family: verdana, arial, helvetica, clean, sans-serif; font-size: 13px; line-height: 16px;"></span><br />
<div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; line-height: 20px; margin-bottom: 7px; margin-left: 0px; margin-right: 0px; margin-top: 7px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">Shale drilling takes a particular expertise. Recently we have seen companies with this expertise do very well as shales and their millions of barrels are just waiting to be tapped. At first, horizontal drilling was performed on natural gas wells, and recently this was expanded to oil. If we are to use the Bakken shale as an example, where drillers are getting about 95% oil, companies like Brigham Exploration Company (<a href="http://seekingalpha.com/symbol/bexp" style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #024999; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-decoration: none; vertical-align: baseline;" title="Brigham Exploration Co.">BEXP</a>) or Continental Resources Inc. (<a href="http://seekingalpha.com/symbol/clr" style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #024999; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-decoration: none; vertical-align: baseline;" title="Continental Resources Inc.">CLR</a>) are making a mint.</div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; line-height: 20px; margin-bottom: 7px; margin-left: 0px; margin-right: 0px; margin-top: 7px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">Carrizo Oil and Gas Inc (<a href="http://seekingalpha.com/symbol/crzo" style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #024999; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-decoration: none; vertical-align: baseline;" title="Carrizo Oil & Gas Inc.">CRZO</a>) has this expertise. Carrizo is in a situation that could be something great. They were founded in 2003 and since then they have been busy. As of December 31st of 2009, they had participated in drilling 786 wells. At that time they had a 73% success rate.<br />
<br />
Carrizo has a sizeable position in the North Sea. They also have accumulated several shale acreages:</div><blockquote style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; line-height: 20px; margin-bottom: 7px; margin-left: 0px; margin-right: 0px; margin-top: 7px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 10px; padding-right: 10px; padding-top: 0px; vertical-align: baseline;"><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; line-height: 20px; margin-bottom: 7px; margin-left: 0px; margin-right: 0px; margin-top: 7px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">Fort Worth Barnett 47000 acres<br />
Marcellus Shale 111290 acres<br />
Marfa Basin 58000 acres<br />
Fayetteville Shale 26000 acres<br />
Eagle Ford Shale 20000 acres<br />
Niobrara Shale 61000 acres</div><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; line-height: 20px; margin-bottom: 7px; margin-left: 0px; margin-right: 0px; margin-top: 7px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"></div></blockquote><div style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: inherit; font-size: 13px; font-style: inherit; font-weight: inherit; line-height: 20px; margin-bottom: 7px; margin-left: 0px; margin-right: 0px; margin-top: 7px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">Carrizo's plan is strong organic growth. To do this they are drilling for gas in the Barnett and Marcellus. The Eagle Ford and Niobrara will be drilled for oil. They plan to drill the low risk Barnett Shale initially. Estimates have this location's proved reserves at 570 Bcfe with potential for an additional 780 Bcfe. There are 470 potential well sites (500 foot spacing) . They are planning on developing their Marcellus Shale position. They are planning on being much more aggressive with respect to their liquids positions. Due to the better margins, the Niobrara and Eagle Ford Shales are a priority. In 2010, Carrizo drilled 5 wells and frac'd 3 in Eagle Ford. Eagle Ford will have up to 2 rigs running this year. The Niobrara had 3 drilled and 1 frac'd, and are expecting at least one rig running. These two areas could add up to 7000 BOED sometime this year. At today's prices this will increase production by one-third and double revenue. </div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5679133274337151542.post-88575544988671931082011-01-22T19:42:00.002+02:002011-01-22T19:42:54.578+02:00How Do You Frac a Well<div style="color: #333333; font-family: Helvetica, Arial, sans-serif; font-size: 1.4em; line-height: 1.5em; margin-bottom: 1em; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Activist shareholder groups are pressing natural gas companies to reduce the environmental impact of a drilling technique called hydraulic fracturing.</div><div style="color: #333333; font-family: Helvetica, Arial, sans-serif; font-size: 1.4em; line-height: 1.5em; margin-bottom: 1em; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">The investor groups say they have filed resolutions with nine oil and gas companies that use hydraulic fracturing, or "fracking," to extract gas from shale formations thousands of feet underground. Critics contend that fracking has the potential to pollute groundwater. The industry says it is safe.</div><div style="color: #333333; font-family: Helvetica, Arial, sans-serif; font-size: 1.4em; line-height: 1.5em; margin-bottom: 1em; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">The shareholder proposals ask drillers to explain how they plan to manage the risks associated with fracking. The shareholders also want full disclosure of fracking chemicals, a reduction in the volume and toxicity of the chemicals and improvements in well construction</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5679133274337151542.post-84935336457234216942011-01-21T01:53:00.000+02:002011-01-21T01:53:11.853+02:00Chinese Participate in USA Well Drilling Program<div style="clear: both; color: #222222; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">PORTLAND, OR--(Marketwire - January 20, 2011) - Xun Energy, Inc. ("XNRG") (<exchange name="OTCBB">OTCBB</exchange>: <a href="http://www.marketwire.com/mw/stock.jsp?Ticker=XNRG" style="color: #cc0000; text-align: left; text-decoration: none;">XNRG</a>) Xun Energy, Inc. announces the Company will participate in a planned 15 well drilling program with Global Energy Acquisitions, LLC and its affiliates ("GEA"). GEA is a Florida limited liability company. GEA intends to drill 15 oil and gas wells on a 416 acre parcel located in Adair County, Kentucky. Each well will be drilled to a depth of up to 2,000 feet in order to reach the Murfreesboro or Knox Formations. The targeted date for the completion of the $2,550,000 funding requirement has been set to February 28, 2011.</div><div style="clear: both; color: #222222; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">Upon the success of the drilling program, GEA will pay to XNRG up to 12.5% gross royalty on revenues generated from the drilling program. XNRG's participation will be based upon XNRG's investment in GEA's 15 well drilling program. XNRG's participation interest has not yet been established.</div><div style="clear: both; color: #222222; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">Peter Matousek, the Company's president, commented, "The agreement with GEA provides the Company with an opportunity to participate in an oil and gas program which would provide the Company with steady cash flow." </div><div style="clear: both; color: #222222; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;"><strong>About GEA</strong></div><div style="clear: both; color: #222222; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">GEA is in the business of investing in oil and natural gas exploration programs.</div><div style="clear: both; color: #222222; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;"><strong>About XNRG</strong></div><div style="clear: both; color: #222222; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">Xun Energy, Inc. is a development stage company with limited assets. The Company's prospects will be subject to securing financing and the success of the drilling program.</div><div style="clear: both; color: #222222; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">This Press Release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, we claim the protection of the safe harbor for forward-looking statements provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Such forward-looking statements by definition involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. In particular, there is no assurance that reserves, production, pricing levels or other factors pertaining to the oil and gas operations will be sustained at the expected rates or levels over time. Discussions of factors, which may affect future results, are contained in our recent filings. Under no circumstances does this Press Release constitute an offer to sell or a solicitation of an offer to buy the securities of the company described in this Press Release in which such offer, solicitation or sale of securities would be unlawful prior to registration, qualification or filing under the securities laws of any jurisdiction.</div><div style="clear: both; color: #222222; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left;">For Further information on this news release or on XNRG, please visit<a href="http://ctt.marketwire.com/?release=710373&id=58111&type=1&url=http%3a%2f%2fwww.xunenergy.com%2f" style="color: #cc0000; text-align: left; text-decoration: none;">http://www.xunenergy.com/</a> or contact XNRG's Investor Relations Department, telephone: 1-775-200-0505, e-mail address: <a href="mailto:investor@xunenergy.com" style="color: #cc0000; text-align: left; text-decoration: none;">investor@xunenergy.com</a>.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5679133274337151542.post-33421125059586385642011-01-20T04:19:00.001+02:002011-01-20T04:19:36.424+02:00Encana Selling Natural Gas Plant<span class="Apple-style-span" style="font-family: Arial, Helvetica, sans-serif; font-size: 12px;">Encana (TSX:ECA, NYSE: ECA) said Tuesday it has agreed to sell its Fort Lupon natural gas processing plant to Western Gas Partners (NYSE: WES) for $303 million.<br />
<br />
The plant, located in Colorado, processes about 84 million cubic feet per day (MMcf/d) of natural gas. The sale also includes five natural gas gathering pipeline systems and associated compression facilities.<br />
<br />
Under the agreement, Encana USA has processing fees that allows the company to extract about 3,500 barrels of natural gas liquids per day from its processed natural gas. <br />
<br />
"This divestiture is part of Encana's ongoing initiative to capture significant incremental value from its midstream assets -- natural gas processing plants, pipeline gathering systems and compression facilities,” said Renee Zemljak, an executive at Encana. <br />
<br />
“We are looking to enter into long-term and competitive fee-for-service agreements with industry-leading midstream companies.”<br />
<br />
Encana is also trying to sell its Cabin Gas Plant, which has received regulatory approval for two phases of development for a total processing capacity of 800 MMcf/d. The plant is in the early stage of constructing the first phase, which is designed to have capacity of about 400 MMcf/d. The plant is scheduled to start processing natural gas from Horn River, British Columbia in 2012.<br />
<br />
The sale of the Fort Lupon plant, subject to regulatory approval, is expected to close in the first quarter of 2011. </span>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5679133274337151542.post-6010926190982347622011-01-17T20:37:00.002+02:002011-01-17T20:37:26.578+02:00Anderson Energy Ltd Update<span class="Apple-style-span" style="font-family: arial, helvetica; font-size: 12px;">CALGARY, ALBERTA--(Marketwire - Jan. 17, 2011) - Anderson Energy Ltd. ("Anderson Energy" or the "Company") (TSX:AXL) is pleased to provide an update of its Cardium drilling operations and its 2011 capital budget.</span><br />
<div style="font-family: arial, helvetica; font-size: 12px; padding-bottom: 15px;"></div><span class="Apple-style-span" style="font-family: arial, helvetica; font-size: 12px;">CARDIUM OPERATIONAL UPDATE</span><div style="font-family: arial, helvetica; font-size: 12px; padding-bottom: 15px;"></div><span class="Apple-style-span" style="font-family: arial, helvetica; font-size: 12px;">As of January 16, 2011, the Company has drilled 24 gross (17.2 net) Cardium horizontal oil wells with a 100% success rate. Of these wells, twenty gross (13.4 net) Cardium wells have been placed on production. The remaining four wells are expected to be producing in February 2011.</span><div style="font-family: arial, helvetica; font-size: 12px; padding-bottom: 15px;"></div><span class="Apple-style-span" style="font-family: arial, helvetica; font-size: 12px;">In November 2010, the Company reduced its interstage frac density from 100 meters to 75 meters with improved initial productivity when compared to offsetting wells. In January 2011, the Company conducted its first operated water based frac. The completion costs of this well are expected to be approximately $500,000 less than other oil based 18-20 tonne fracs. Initial oil production rates from the first water frac have been encouraging. The Company is continuing to evaluate the merits of water based fracs. If further evaluation is positive, this may prove to be a method to significantly decrease the costs of Cardium completions and improve economic returns.</span><div style="font-family: arial, helvetica; font-size: 12px; padding-bottom: 15px;"></div><span class="Apple-style-span" style="font-family: arial, helvetica; font-size: 12px;">The Company continues to add land through farm-ins, acquisitions and property swaps. The Company's non contingent drilling inventory has grown to 143 gross (85.3 net) development locations. Ultimate potential drilling inventory based on three wells per section is 309 gross (180 net) drilling locations. The Company has increased the Cardium prospective land that it owns or controls to 103 gross (60 net) sections of land.</span><div style="font-family: arial, helvetica; font-size: 12px; padding-bottom: 15px;"></div><span class="Apple-style-span" style="font-family: arial, helvetica; font-size: 12px;">In 2010, the Company developed Cardium horizontal core areas in Garrington, Willesden Green and Pembina East. This winter, a new Cardium core area is being developed in Ferrier. In each core area, tank batteries are built and individual wells drilled off pads are pipelined to the tank batteries further increasing efficiencies and decreasing operating costs. The Company consolidates its position in each core area through land acquisitions and farm-ins.</span><span class="Apple-style-span" style="font-family: arial, helvetica; font-size: 12px;"><span><br />
</span></span>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5679133274337151542.post-6816634075160616322011-01-12T00:43:00.000+02:002011-01-12T00:43:09.135+02:00Devon's Nichols Bullish on Natural Gas<div orgfontsize="12px" style="font-family: arial, verdana, sans-serif; font-size: 12px; margin-bottom: 12px; margin-left: 0px; margin-right: 0px; margin-top: 12px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">The chairman of Devon Energy Corp. says he expects a "revolution" in the growing use of natural gas as a power source for electricity generating facilities across the country according to press reports.</div><div orgfontsize="12px" style="font-family: arial, verdana, sans-serif; font-size: 12px; margin-bottom: 12px; margin-left: 0px; margin-right: 0px; margin-top: 12px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Devon co-founder and Chairman Larry Nichols made the comments Tuesday during a "Legislative Boot Camp" for new Oklahoma lawmakers sponsored by The State Chamber it was widely reported in the press.</div><div orgfontsize="12px" style="font-family: arial, verdana, sans-serif; font-size: 12px; margin-bottom: 12px; margin-left: 0px; margin-right: 0px; margin-top: 12px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Oklahoma City-based Devon is a natural gas and oil exploration and production company that employs more than 5,400 people worldwide and Nichols says the growing use of technologies like hydraulic fracturing and horizontal drilling has dramatically boosted the amount of natural gas available in the United States for use and recovery. And while he says he predicts natural gas prices to remain fairly low this year, he says he expects prices to rebound as the nation's economy recovers from the recent recession and further uses of natural gas are exploited.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5679133274337151542.post-46772140199771089492011-01-11T03:29:00.000+02:002011-01-11T03:29:20.878+02:00Honda to Offer Natural Gas Civic<span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', Times, serif; font-size: 14px; line-height: 22px;"></span><br />
<div style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: Georgia, 'Times New Roman', Times, serif; font-size: 15px; font-weight: normal; line-height: 1.6em; margin-bottom: 17px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">Honda Motor Co. says it plans to sell a natural-gas version of its new Civic sedan in all 50 states starting this year. The company currently sells around 1,500 natural-gas Civics each year, mostly to government fleets. Until now, it only sold natural-gas Civics to individual buyers in four states.</div><div style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: Georgia, 'Times New Roman', Times, serif; font-size: 15px; font-weight: normal; line-height: 1.6em; margin-bottom: 17px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">Natural gas-burning vehicles produce lower emissions, and 98 percent of the natural gas used in the U.S. comes from North America. But there are only 1,000 natural gas fueling stations in the U.S.</div><div style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: Georgia, 'Times New Roman', Times, serif; font-size: 15px; font-weight: normal; line-height: 1.6em; margin-bottom: 17px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">Honda is also releasing a gas-electric hybrid version of the Civic. Honda introduced the new Civic on Monday at the Detroit auto show. It has a more aerodynamic, chiseled look than the outgoing Civic. The compact sedan goes on sale this spring. </div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5679133274337151542.post-66357415869967736472011-01-07T03:07:00.002+02:002011-01-07T03:07:53.856+02:00Apache Production at Balboa Field<div style="color: #464646; font-family: Helvetica, Arial, sans-serif; font-size: 12px; line-height: 1.333em; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"><span class="xn-location" style="font-family: Helvetica, Arial, sans-serif;">HOUSTON</span>, <span class="xn-chron" style="font-family: Helvetica, Arial, sans-serif;">Jan. 6, 2011</span> /PRNewswire/ -- Apache Corporation (NYSE, Nasdaq: <a href="http://studio-5.financialcontent.com/prnews?Page=Quote&Ticker=APA" style="color: #6099e9; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: none; outline-width: initial; text-decoration: none;" target="_blank" title="APA">APA</a>) today announced that hydrocarbon production has begun at its Balboa Field, located on East Breaks Block 597. Initial gross flow rates have stabilized at approximately 30 million cubic feet of natural gas and 1,400 barrels of oil per day. Apache's subsidiary is the operator of the field and holds a 50 percent working interest.</div><div style="color: #464646; font-family: Helvetica, Arial, sans-serif; font-size: 12px; line-height: 1.333em; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Balboa is located in estimated water depths of 3,350 feet approximately 130 miles south of <span class="xn-location" style="font-family: Helvetica, Arial, sans-serif;">Galveston, Texas</span>. The field is a one-well development with a six-mile tieback to the Anadarko-operated Boomvang spar on East Breaks 643. The reservoir features oil-bearing sandstones with a natural gas cap. The well has been completed near the crest of the structure to optimize overall hydrocarbon recovery. This completion was designed to initially produce natural gas and liquids with increasing liquids and decreasing gas volumes throughout the life of the field.</div><div style="color: #464646; font-family: Helvetica, Arial, sans-serif; font-size: 12px; line-height: 1.333em; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">"Subsea tieback technology has significantly improved the economics for deepwater developments by lowering the threshold for commercial accumulations," said <span class="xn-person" style="font-family: Helvetica, Arial, sans-serif;">John Crum</span>, co-chief operating officer and president -- <span class="xn-location" style="font-family: Helvetica, Arial, sans-serif;">North America</span>. "Through acquisitions completed in 2010, Apache now has both the capability in-house and the portfolio of properties in the deepwater<span class="xn-location" style="font-family: Helvetica, Arial, sans-serif;">Gulf of Mexico</span> to exploit assets such as Balboa and add shareholder value."</div><div style="color: #464646; font-family: Helvetica, Arial, sans-serif; font-size: 12px; line-height: 1.333em; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Apache assumed operatorship of Balboa with the acquisition of Mariner Energy in <span class="xn-chron" style="font-family: Helvetica, Arial, sans-serif;">November 2010</span>. The field commenced production on <span class="xn-chron" style="font-family: Helvetica, Arial, sans-serif;">Dec. 28, 2010</span>.</div><div style="color: #464646; font-family: Helvetica, Arial, sans-serif; font-size: 12px; line-height: 1.333em; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Apache Corporation is an oil and gas exploration and production company with operations in <span class="xn-location" style="font-family: Helvetica, Arial, sans-serif;">the United States</span>, <span class="xn-location" style="font-family: Helvetica, Arial, sans-serif;">Canada</span>, <span class="xn-location" style="font-family: Helvetica, Arial, sans-serif;">Egypt</span>, the United Kingdom North Sea, <span class="xn-location" style="font-family: Helvetica, Arial, sans-serif;">Australia</span> and <span class="xn-location" style="font-family: Helvetica, Arial, sans-serif;">Argentina</span>. Apache posts announcements, updates, investor information and all press releases, on its website, <a href="http://www.apachecorp.com/" style="color: #6099e9; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: none; outline-width: initial; text-decoration: none;" target="_blank">www.apachecorp.com</a>.</div><div style="color: #464646; font-family: Helvetica, Arial, sans-serif; font-size: 12px; line-height: 1.333em; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"><b><i>Forward-looking statements</i></b></div><div style="color: #464646; font-family: Helvetica, Arial, sans-serif; font-size: 12px; line-height: 1.333em; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 10px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"><i>This news release contains certain "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 including, without limitation, expectations, beliefs, plans and objectives regarding production and exploration activities. Any matters that are not historical facts are forward-looking and, accordingly, involve estimates, assumptions, risks and uncertainties, including, without limitation, risks, uncertainties and other factors discussed in our most recently filed Annual Report on Form 10-K, recent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K available on our website, </i><a href="http://www.apachecorp.com/" style="color: #6099e9; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: none; outline-width: initial; text-decoration: none;" target="_blank"><i>http://www.apachecorp.com/</i></a><i>, and in our other public filings and press releases. There is no assurance that Apache's expectations will be realized, and a number of factors could cause actual results to differ materially from projections, anticipated results or other expectations expressed in this news release, including Apache's drilling risks, and the ability to execute on production and development plans. We assume no duty to update these statements as of any future date. However, readers should review carefully reports and documents that Apache files periodically with the Securities and Exchange Commission.</i></div>Unknownnoreply@blogger.com0