Hart's Petroleum Finance Week back issues from January 2002:
E&P MERGERS WERE MORE PREVALENT THAN ASSET TRANSACTIONS DURING A BUSY 2001
Jan 07, 2002 ... Devon's $11.2 Billion of Purchases Led the Pack, Exclusive Petroleum Finance Week Rundown Shows Acquisitions of entire companies were more common than producing property purchases as North American oil and gas producers completed another busy merger and acquisition (M&A) year ....
DOWNSTREAM OIL ALSO HAD ITS SHARE OF SIGNIFICANT MERGERS AND ACQUISITIONS
Jan 07, 2002 ... While the pace of upstream mergers and acquisitions (M&A) remained feverish in 2001, several significant transactions also changed refining and marketing's landscape during the year. The question of what would happen to Texaco Inc.'s interest in its two domestic downstream joint ventures ...
OPEC PLEDGES TO CUT PRODUCTION, BUT SINKING DEMAND PUTS PRESSURE ON PRICES
Jan 07, 2002 ... The Organization of Petroleum Exporting Countries (OPEC) pledged to slash its oil production by 1.5 million barrels per day (b/d) starting Jan. 1. But a number of factors, including non-OPEC production, quota compliance by the cartel's members and falling oil demand, will determine exactly ...
MARINER EXPLORATION WILL RAISE UP TO C$15 MILLION FROM PRIVATE PLACEMENT
Jan 07, 2002 ... Mariner Exploration Inc. agreed to privately place up to C$15 million of flow-through special warrants and common share special warrants with Alberta, British Columbia, Ontario and Nova Scotia investors. Octagon Capital Corp. is lead offering agent of a group that includes Acadian Securities ...
DEVLAN EXPLORATION RAISES NEARLY C$5.5 MILLION FROM PRIVATE PLACEMENT
Jan 07, 2002 ... Devlan Exploration Inc. (TSE: DXI) privately placed 1.98 million flow-through common shares, including 180,000 shares to cover offering agents' overallotments, at C$2.75 each with Alberta and ...
GENESIS RECEIVES NEW $130 MILLION SENIOR SECURED CREDIT REVOLVER
Jan 07, 2002 ... Genesis Energy L.P. (AMEX: GEL) entered into a two-year $130 million senior secured revolving credit facility with Citicorp North America Inc. (CNAI), an affiliate of Salomon Smith Barney Inc., which owns the Houston crude oil gathering and marketing partnership's general partner. Genesis ...
PRIVATE PLACEMENT WILL RAISE MORE THAN C$5 MILLION FOR CANADIAN 88 ENERGY
Jan 07, 2002 ... Canadian 88 Energy Corp. (AMEX: EEE) planned to privately place 2.33 million flow-through common shares with Canadian investors at C$2.15 each for C$5,009,500 of gross proceeds. Dundee Securities Corp ....
PRODUCERS APPEAR CERTAIN TO TRIM NORTH AMERICAN OUTLAYS IN COMING YEAR
Jan 07, 2002 ... Emerging 2002 capital budgets look as if they will fall well short of 2001's fast pace, barring an event that would revive commodity prices. North American spending will fall anywhere from 15 to 25 percent, according to several surveys issued in 2001's final weeks. Companies have grown more ...
RAPTOR WILL RAISE UP TO C$510,000 FROM PRIVATE PLACEMENT OF EQUITY
Jan 07, 2002 ... Raptor Capital Corp. (CDNX: RCP) planned to privately place up to 3 million flow-through common shares at C17 cents each with ...
PETROLEUM FINANCE WEEK'S 2001 M&A TIMELINE
Jan 07, 2002 ... (Exploration and Production Deals during the Year for $100 Million or More) January * Marathon Oil Co. (NYSE: MRO) buys Canadian independent producer Pennaco Energy Inc. (AMEX: PN) for $500 million, including $54 million of assumed debt. * Ocean Energy Inc ....
NYMEX PREPARES TO OFFER SOME NEW OVER-THE-COUNTER TRADING SERVICES
Jan 07, 2002 ... This quarter, the New York Mercantile Exchange (Nymex) plans to offer clearing services for over-the-counter (OTC) trades in "an expansive form." Though Nymex decided to enter this arena prior to the bankruptcy of Enron Corp. (NYSE: ENE), Exchange President J. Robert Collins, Jr. acknowledged ...
CITING INTERNATIONAL GROWTH, NABORS DECIDES TO REINCORPORATE IN BERMUDA
Jan 07, 2002 ... Citing its increasing international business, Nabors Industries Inc. (AMEX: NBR) directors approved a plan last week to reorganize the Houston onshore and offshore drilling contract and change its place of incorporation from Delaware to Bermuda. The plan will establish a new holding company, ...
DELTA PETROLEUM AGREES TO BUY PRIVATELY HELD FORT WORTH INDEPENDENT
Jan 07, 2002 ... Delta Petroleum Corp. (NASDAQ: DPTR) agreed to buy Piper Petroleum Corp., a privately held Fort Worth independent producer, for 1,431,000 shares of restricted common stock. The Denver upstream independent also will pay off approximately $1.18 million of Piper's outstanding debt. Piper owns ...
BRAVO NATURAL RESOURCES BUYS SWIFT ENERGY'S U.S. MIDCONTINENT ASSETS
Jan 07, 2002 ... Bravo Natural Resources agreed to acquire Swift Energy Co.'s (NYSE: SFY) Midcontinent assets for undisclosed terms. The purchase, which includes some of the Houston independent producer's partnerships, will bring Bravo approximately 20 billion cubic feet equivalent (Bcfe) of natural gas ...
APCO ARGENTINA, GLOBEX TERMINATE MERGER JUST PRIOR TO SCHEDULED CLOSING
Jan 07, 2002 ... Apco Argentina Inc. (NASDAQ: APAGF) and privately held Globex Energy Inc. terminated their previously announced merger just before its scheduled closing at the end of 2001. The mutual decision followed a re-evaluation of the merger's terms by the two Tulsa independent producers, Apco Chief ...
KANEB PARTNERS L.P. BUYS PORTLAND, ORE., TERMINAL FROM EXXON MOBIL
Jan 07, 2002 ... Kaneb Pipe Line Partners L.P.'s (NYSE: KPP) S.T. Services subsidiary acquired an 800,000 barrel petroleum products marine terminal in Portland, Ore., from Exxon Mobil Corp. (NYSE: XOM) for undisclosed terms. The terminal, on the Willamette River, adjoins the Dallas pipeline and storage ...
TAPPIT RESOURCES BUYS SOUTHEASTERN SASKATCHEWAN ASSETS FOR C$3.2 MILLION
Jan 07, 2002 ... Tappit Resources Ltd. (TSE: TPT) agreed to buy production properties in southeastern Saskatchewan's Tatagwa area that produce approximately 125 barrels of oil per day (b/d) for C$3.2 million. The acquisition will increase the Regina, Sask., independent producer's ownership of the proposed ...
ONSHORE DRILLERS CONSOLIDATE FURTHER AS PATTERSON-UTI BUYS CLEERE DRILLING
Jan 07, 2002 ... Patterson-UTI Energy Inc. (NASDAQ: PTEN) bought Cleere Drilling Co., the biggest privately held land driller in Texas and one of the nation's 10 largest onshore drilling contractors, for a combination of stock and cash. The Dec. 26 purchase, which also includes17 land- based drilling rigs and ...
UDS BUYS 22 ARIZONA, TEXAS RETAIL OUTLETS PRIOR TO BECOMING PART OF VALERO
Jan 07, 2002 ... More than two and a half weeks before merging with Valero Energy Corp. (NYSE: VLO), Ultramar Diamond Shamrock Corp. (UDS) reported that it bought 22 assorted Midcontinent retail outlets in five separate deals for undisclosed terms. In August of this year, UDS purchased a 3,000 square-foot ...
S&P, FITCH ADJUST THEIR ASSESSMENTS OF VALERO, UDS FOLLOWING MERGER
Jan 07, 2002 ... As Valero Energy Corp. (NYSE: VLO) completed its $6 billion purchase of Ultramar Diamond Shamrock Corp. (NYSE: UDS), Standard and Poor's Corp. affirmed various ratings of UDS obligations (A2 commercial paper, Triple B senior unsecured debt and Double B-Plus preferred stock) and withdrew its ...
INSIDER TRADING WATCH
Jan 07, 2002 ... The following insider trading transactions - stock sold by high- level corporate executives or significant stockholders - were filed during the past week as Form 144 submissions to the Securities and Exchange Commission. - Crystal Cleveland-Kappes Issuer: Ashland Inc ....
OIL FIELD SERVICE SECTOR'S STOCK PRICES APPEAR POISED TO INCREASE DURING 2002
Jan 14, 2002 ... Investors hoping to buy oil field service company stocks at last September's rock-bottom levels are in for a disappointment, Wall Street analysts say. Though the immediate prospects for energy stocks are dicey, the general trend for 2002 looks positive. "I'm very bullish. I think ...
JOHN N. SEITZ ASSUMES ADDITIONAL ROLE AS ANADARKO'S CHIEF EXECUTIVE OFFICER
Jan 14, 2002 ... John N. Seitz, who joined Andarko Petroleum Corp. (NYSE: APC) in 1977 as an exploration geologist, was elected to the additional position of chief executive officer (CEO) at the Houston independent producer last week. He has been Anadarko's president and chief operating officer since 1999, ...
INVESTMENT ANALYSTS RAISED OBJECTIVITY QUESTION WELL BEFORE ENRON'S COLLAPSE
Jan 14, 2002 ... Months before investment analysts were accused of maintaining favorable recommendations as Enron Corp. (NYSE: ENE) collapsed, their trade group, the Association for Investment Management and Research (AIMR), began to examine the analyst independence question. Members were asked last summer to ...
BANKS SUPPLY CALPINE WITH ADDITIONAL $1 BILLION OF WORKING CREDIT CAPITAL
Jan 14, 2002 ... Calpine Corp. (NYSE: CPN) has received commitment letters from its commercial banks for an additional $1 billion unsecured working capital credit facility. The new one-year facility will enable the San Jose, Calif., energy merchant to borrow up to $350 million and will provide it with up to ...
UNUSUALLY HIGH 2001 YEAR-END U.S. GAS INVENTORIES SIGNAL 2002 PRODUCTION DIP
Jan 14, 2002 ... Abnormally warm weather during the fourth quarter left 2001 year- end U.S. natural gas inventories at an estimated 2.86 trillion cubic feet (Tcf), 1.1 Tcf above their level at the end of 2000 and 19 percent above the average for the previous five years, the Department of Energy's Energy ...
STAR GAS PARTNERS L.P. SELLS 1.5 MILLION UNITS AT $21.10 PER UNIT
Jan 14, 2002 ... Star Gas Partners L.P. (NYSE: SGU and SGH) sold 1.5 million common units of limited partner interests in a publicly underwritten offering at $21.10 per unit. A.G. Edwards and Sons, Inc., UBS Warburg Securities LLC and Wachovia Securities were managing underwriters. The Stamford, Conn., energy ...
TOUCHSTONE RESOURCES RAISES U.S.$1 MILLION FROM PRIVATE PLACEMENT
Jan 14, 2002 ... Touchstone Resources Ltd. (CDNX: TUT) privately placed 595,000 units at C$2.60 (U.S.$1.682) per unit with Canadian investors last week for U.S.$1 million of gross proceeds. Each unit consisted of one share of the Houston independent producer's common stock and one- half of a share purchase ...
WITH OIL AND GAS PRICES DOWN, UNOCAL TAKEOVER RUMORS HAVE RESURFACED
Jan 21, 2002 ... Rumors abounded last week that Unocal Corp. (NYSE: UCL) may be snapped up by a much larger rival such as Royal Dutch/Shell (NYSE: RD and SC) or B.P. Plc. (NYSE: BP). Wall Street oil analysts said that while Unocal would indeed make a good acquisition target for many companies, there's nothing ...
RISING INVENTORIES, FALLING DEMAND CREATE A BEARISH DOWNSTREAM OUTLOOK
Jan 21, 2002 ... The American Petroleum Institute resolutely followed its policy of refusing to forecast prices or consumption last week. But there was no escaping the conclusion that the domestic refining and marketing outlook is grim as 2002 gets under way. U.S. petroleum demand fell for the ...
PRODUCERS SUE TO RECOVER INVESTMENTS IN SOUTHERN CALIFORNIA FEDERAL OCS LEASES
Jan 21, 2002 ... Nine oil and gas producers have notified the federal government that they're tired of waiting and would like their money back. They've paid more than $1.21 billion in cash bonus payments and about $8 million in rental payments for 40 outer continental shelf (OCS) leases in the Santa Maria ...
ANADARKO'S 2002 SPENDING PLAN REFLECTS ADJUSTMENTS TO CHANGING MARKETS
Jan 21, 2002 ... Anadarko Petroleum Corp. (NYSE: APC) expects to report record annual earnings for 2001 and production volumes that will be more than 75 percent higher than the previous year's. But the Houston independent producer already has changed its emphasis to reflect changed market conditions, Anadarko ...
TRI-UNION DEVELOPMENT WILL SELL GULF COAST ASSETS, FOCUS ON CALIFORNIA
Jan 21, 2002 ... With plans to focus on California's Sacramento Basin, Tri-Union Development Corp. (TDC) decided last week to sell all or most of its assets on the Texas and Louisiana Gulf Coast and the shallow waters of the Gulf of Mexico during 2002. Albrecht and Associates will market the ...
HEROLD REPORTS AN 8 PERCENT DROP IN WORLDWIDE ENERGY M&A VALUE
Jan 21, 2002 ... Global energy industry merger and acquisition (M&A) transaction value dropped to $243.5 billion in 2001 from $264.4 billion in 2000, triggered by a 24 percent decline in upstream global M&A transactions to $81.5 billion, John S. Herold Inc. said last week. U.S. implied reserve values ...
FORTUNE INSTALLS NEW SENIOR MANAGEMENT, PLANS TO REDUCE OVERHEAD
Jan 21, 2002 ... Fortune Natural Resources Corp. (OTC Bulletin Board: FPXA) named Ronald P. Nowak president and chief operating officer (COO) and promoted Tyrone J. Fairbanks to chairman last week. Fairbanks remains the Houston independent producer's chief executive officer. J. Michael Urban, Fortune's former ...
TRANSOCEAN SEDCO FOREX WILL OFFER TO EXCHANGE R&B FALCON DEBT
Jan 21, 2002 ... Transocean Sedco Forex Inc. (NYSE: RIG) expects to make offers to exchange its debt securities for all of the outstanding publicly held debt securities of its indirect subsidiary, R&B Falcon Corp. The Houston offshore drilling contractor plans to offer notes that have the same principal ...
CASTLE ENERGY AGREES TO SELL DOMESTIC PROPERTIES TO DELTA
Jan 21, 2002 ... Castle Energy Corp. (NASDAQ: CECX) agreed to sell all of its domestic oil and gas properties to Delta Petroleum Corp. (NASDAQ: DPTR) last week for $20 million in cash and 9,566,000 shares of the Denver independent producer's common stock. Delta may repurchase 3,188,667 of the shares for $4.50 ...
TEPPCO PARTNERS L.P. BUYS TWO PIPELINES FROM DIAMOND-KOCH JOINT VENTURES
Jan 21, 2002 ... Texas Eastern Products Pipeline Co. LLC, the general partner of TEPPCO Partners L.P. (NYSE: TPP), signed a definitive agreement to acquire the Chaparral and Quanah pipelines from Diamond-Koch II L.P. and Diamond-Koch III L.P. for $130 million. The two partnerships were joint ventures of ...
NESS ENERGY INTERNATIONAL EXPANDS ITS U.S. ACQUISITION ACTIVITIES
Jan 21, 2002 ... Ness Energy International Inc. (OTC Bulletin Board: NESS) bought 4,000 contiguous acres of mineral rights in West Texas and 4,200 acres of mineral rights northwest of Fort Worth in private transactions for terms that were not disclosed. The rights are in the middle of highly productive fields ...
BELL FUELS, SWEENEY OIL MERGE COMMERCIAL WHOLESALE FUELS BUSINESSES
Jan 21, 2002 ... Bell Fuels Inc. and Sweeney Oil, two of the Midwest's oldest and largest independent petroleum suppliers, have merged their commercial wholesale fuel businesses. As part of the agreement, Bell Fuels will run the day-to-day operations of Sweeney Oil's wholesale fuel business. The new business ...
NATIONAL-OILWELL ACQUIRES HOUSTON CENTRIFUGAL PUMP MANUFACTURER
Jan 21, 2002 ... National-Oilwell Inc. (NYSE: NOI) purchased HAL Oilfield Pump and Equipment Co. (HALCO) for terms that were not disclosed. The Houston oil field equipment supplier designs, manufactures and distributes centrifugal pumps, pump packages and related products. It generated approximately $17.5 ...
SECURITIES HOLDING CORP. AGREES TO BUY NATIONWIDE SAFE*T*PROPANE INC.
Jan 21, 2002 ... Securities Holding Corporation Inc. (OTC Bulletin Board: SHCI) executed a definitive agreement last week to acquire privately held Nationwide Safe*T* Propane Inc. (NSTP). SHCI's management resigned once the deal was complete and a new management took over operations. The Ocala, Fla., company ...
VALERO AND HOLLY SEPARATELY PURSUE PROJECTS TO UPGRADE THEIR REFINERIES
Jan 21, 2002 ... Fluctuating refining margins aren't keeping U.S. downstream independents from increasing their throughput capacity. But Valero Energy Corp. (NYSE: VLO) and Holly Corp. (AMEX: HOC) emphasized improved operations and lower costs as they separately announced refinery upgrades. Valero ...
UBS WARBURG IS TOP BIDDER FOR ENRON'S NORTH AMERICAN TRADING OPERATIONS
Jan 21, 2002 ... UBS Warburg LLC was the successful bidder for Enron Corp.'s (Pink Sheets: ENRNQ) North American and natural gas trading business. "It will be a valuable extension of our worldwide trading activities, which are noted for providing market leadership and superb client service," said John P ....
INSIDER TRADING WATCH
Jan 21, 2002 ... The following insider trading transactions - stock sold by high- level corporate executives or significant stockholders - were filed during the past week as Form 144 submissions to the Securities and Exchange Commission. - Crystal Cleveland-Kappes Issuer: American ...
RANGE RESOURCES CONTINUED TO REDUCE ITS DEBT DURING 2001'S FOURTH QUARTER
Jan 14, 2002 ... Range Resources Corp. (NYSE: RRC) continued to strengthen its financial position in 2001's final quarter, the Fort Worth independent producer reported last week. During the period, Range retired $17.5 million of debt and convertible securities, reduced its bank debt by $3.7 million and ...
RESOURCE AMERICA RAISES RECORD $51 MILLION FOR 2001 DRILLING PROGRAMS
Jan 14, 2002 ... Resource America Inc. (NASDAQ: REXI) closed 2001 with a record $51.3 million of partnership proceeds, 52 percent higher than 2000's $33.8 million. The Philadelphia oil and gas and real estate holding company expects to drill approximately 250 new wells with the money through its Atlas ...
QUESTOR TECHNOLOGY TERMINATES PARTNERSHIP, WILL PURSUE ALTERNATIVES
Jan 14, 2002 ... Questor Technology Inc. (CDNX: QST) filed a notice that it does not intend to close a previously announced limited partnership financing and that it has returned subscriptions that it raised. The Calgary ...
OMNI ENERGY SERVICES RESTRUCTURES DEBT, BUYS ITS AVITATION FLEET
Jan 14, 2002 ... Omni Energy Services Corp. (NASDAQ: OMNI) completed a restructuring of its senior credit facilities and extended their maturity dates. The senior credit realignment will allow the Canereco, La., offshore oil field service company to pursue some near- term business opportunities, Omni ...
GULF OF MEXICO IS PROMINENT AS PETROBRAS AIMS TO BOOST ITS INTERNATIONAL E&P
Jan 14, 2002 ... Petroleo Brasileiro S.A. (NYSE: PBR) plans to pursue further acquisitions in the Gulf of Mexico as it moves toward its goal of producing 300,000 barrels of oil equivalent (boe) per day in areas outside of Brazil. Jorge M. T. Camargo, director of Petrobras's international business, ...
PANCANADIAN ENERGY EXTENDS SMALL SHAREHOLDER SELLING PROGRAM
Jan 14, 2002 ... PanCanadian Energy Corp. (TSE: PCP) extended its small shareholder selling program to March 5 at 4 p.m. Eastern Standard Time. The voluntary program, which originally expired on Jan. 8, enables shareholders ...
KINDER MORGAN ENERGY PARTNERS BUYS ADDITIONAL INTEREST IN COCHIN PIPELINE
Jan 14, 2002 ... Kinder Morgan Energy Partners L.P. (NYSE: KMP) agreed to purchase an additional 10 percent interest last week in the Cochin pipeline system from Nova Chemicals Corp. (NYSE: NCX) for approximately U.S.$29 million in cash. The Houston pipeline and storage partnership initially entered Western ...
CAMPION RESOURCES RAISES NEARLY C$1.7 MILLION FROM PRIVATE PLACEMENT
Jan 14, 2002 ... Campion Resources Ltd. (CDNX: CPR) privately placed 750,000 common shares on a flow-through basis at C$2.25 per share with Canadian investors for C$1,687,500 of gross proceeds. The equity is subject to a 12-month holding period ending Jan. 1, 2003 ....
PLAINS ALL AMERICAN BUYS WEST TEXAS MIDSTREAM OIL ASSETS FROM CORNERSTONE
Jan 14, 2002 ... Plains All American Pipeline, L.P. (NYSE: PAA) agreed to acquire substantially all of CornerStone Propane Partners L.P.'s (NYSE: CNO) midstream crude oil pipeline, gathering and marketing assets for approximately $8.5 million. The properties currently are operated by Coast Energy Group, a ...
CLEARWATER INC. WIDENS OIL FIELD SERVICE SCOPE WITH PURCHASE OF PRITECH
Jan 14, 2002 ... Clearwater Inc. acquired PriTech International Inc., a Houston manufacturer of alkoxylates used primarily to separate water from crude oil, for undisclosed terms. PriTech produces formaldehyde- condensed, nonyl, amyl and butyl resins that are reacted with ethylene oxide and propylene ...
INSIDER TRADING WATCH
Jan 14, 2002 ... The following insider trading transactions - stock sold by high- level corporate executives or significant stockholders - were filed during the past week as Form 144 submissions to the Securities and Exchange Commission. - Crystal Cleveland-Kappes Issuer: Anadarko Petroleum ...
WETMORE, WORKS JOIN SHELL CAPITAL'S PRODUCER FINANCE DIVISION IN HOUSTON
Jan 14, 2002 ... Clint Wetmore and John Works have joined Shell Capital Inc.'s producer finance group in its Houston office. Wetmore, who is the group's vice president of business development, previously was vice president of marketing at Madison Energy Advisors, where he coordinated the marketing of more ...
CONTANGO BUYS ANOTHER 6.1 BCFE OF SOUTH TEXAS RESERVES FOR $11 MILLION
Jan 14, 2002 ... Contango Oil and Gas Co. (AMEX: MCF) increased its ownership interest in its core South Texas exploration property last week with the acquisition of proved developed reserves totaling 6.1 billion cubic feet of natural gas equivalent (Bcfe) for $11 million, or approximately $1.61 per million ...
TORCH OFFSHORE WILL BUY A 520-FOOT VESSEL FROM SEACOR SMIT FOR $9.75 MILLION
Jan 14, 2002 ... Torch Offshore Inc. (NASDAQ: TORC) agreed to buy a 520-foot vessel, the Smit Express, from Seacor Smit Inc. (NYSE: CKH) for $9.75 million last week. The New Orleans offshore construction and pipe laying company will convert the vessel to a DP-2 offshore construction vessel and rename it the ...
MOODY'S AFFIRMS MARATHON ASSESSMENTS FOLLOWING THE SPINOFF OF U.S. STEEL
Jan 14, 2002 ... Moody's Investors Service affirmed its Baa1 senior long-term debt and Prime-2 commercial paper ratings of Marathon Oil Corp. (NYSE: MRO) following the separation of the former USX Corp. into Marathon Oil and the United States Steel Corp. Effective with the separation, which received final USX ...
MOODY'S CHANGES OUTLOOK TOWARD CNOOC TO POSITIVE
Jan 21, 2002 ... Moody's Investors Service changed its outlook toward CNOOC Ltd.'s Baa2 issuer rating - as well as the Baa2 issuer rating outlook of CNOOC Ltd's parent, China National Offshore Oil Corp. - to positive from stable. Moody's conceded that the petroleum industry and regulatory system in China ...
U.S. EXPORT-IMPORT BANK FUNDS INDUSMIN'S UKRAINE OIL PROJECT
Jan 28, 2002 ... The Export-Import Bank of the United States has confirmed its interest in financing Indusmin Energy Corp.'s (OTC Bulletin Board: ICMNF) Kerch oil project in Ukraine. The Houston overseas independent producer will use the money to fully develop the project's west field. The overall development ...
TO NO ONE'S SURPRISE, MOST 2002 UPSTREAM BUDGETS ARE SIGNIFICANTLY LOWER
Jan 28, 2002 ... As expected, independent producers plan to spend much less money to find and develop oil and gas reserves this year compared to 2001. However, because of lower service costs, many companies hope to get more bang for their buck. Budget announcements the past few weeks contained primarily cuts ...
KAIETEUR RESOURCE CORP. RAISES C$10 MILLION FROM PRIVATE PLACEMENT
Jan 28, 2002 ... Kaieteur Resource Corp. (CDNX: KTR) privately placed 13,333,334 special warrants at C75 cents each with Canadian investors for C$10,000,000.50 of gross proceeds. Yorkton Securities Inc. was offering agent. Holders will be able to exercise each warrant to acquire a unit consisting of one ...
APACHE, ANADARKO ARE STRONGEST U.S. E&P INVESTMENT DRAWS OVER SIX MONTHS
Jan 28, 2002 ... The 15 largest investment funds boosted their net common shares in Apache Corp. (NYSE: APA) and Anadarko Petroleum Corp. (NYSE: APC) dramatically between March 31 and Sept. 30, 2001. The increases came as the buy-siders reduced their total equity holdings in 10 large independent producers by ...