The energy-rich Canadian province of Alberta wants a bigger slice of the energy pie, so in February the government appointed a blue-ribbon panel to review energy royalties and come up with a plan to increase the government’s take.
By way of introduction, “mass torts” were once thought the province of companies whose products caused injury or were the result of a catastrophic occurrence (such as a release of pollution into the drinking water supply of a city).
The Minerals Management Service (MMS) recently conducted one of the most competitive auctions ever held in the central and eastern Gulf of Mexico region.
TXCO Resources has seen major changes during the last two years. Its acquisition of privately held Output Exploration LLC in early 2007 doubled proved reserves, significantly increased oil and gas production, and opened new drilling opportunities outside TXCO’s core Maverick basin operating area.
The private equity market has grown substantially in the last five years. NASDAQ estimates that the amount of equity and debt capital raised using Rule 144a has grown three–fold since 2002 and exceeded $1 trillion in 2006 for the first time.
With the current upcycle in the energy industry extending into its third year, energy companies—oilfield service companies, in particular—have been generating record amounts of excess cash.
Within a month after Hurricane Dean paralyzed oil activities in the Bay of Campeche, which cost PEMEX up to US$1.5 billion in lost production, the Mexican Congress and Senate approved a long awaited fiscal reform package aimed at reviving the financial muscle of Mexico’s national oil company.
High commodity prices have made the energy industry as dynamic as it has been in some time, and the energy trading and risk management (ETRM) sector is no exception. Competition is fierce among energy traders, software vendors, and business and IT consulting companies.
The energy complex is becoming more complex as new players with billions of dollars flock to electronic trading platforms on exchanges and over-the-counter markets.
Commodity XLTM is Triple Point’s flagship solution and is the only commodity trading and risk management system that works across multiple commodities, in real-time from front-to-back office.
Accounting rule changes, Sarbanes-Oxley and volatile energy commodity prices have forced oil and gas companies to seek better risk management programs.
