Oil and Gas Investor Magazine - September 2006 September 1, 2006 Feature Canadian Producers Waiting Out New M&A Stalemate Taryn Maxwell Chesapeake Energy Eliminating Operating Risks Nissa Darbonne Lower Natural Gas Prices Likely to Not Last Leslie Haines Microcaps Aiming to Grab Larger Market Share Bertie Taylor Producers Surfacing CBM in Western Canada Peggy Williams Producers Without Succession Plans Should Consider Exit Strategy William (Billy) Bauch and Eric Nielsen U.S. Producers Finding More Capital from Abroad Brian A. Toal Headlines Abraxas Sells Gas Assets In South Texas Addax Petroleum Closes Acquisition of Pan-Ocean's Operations Beach Petroleum Acquires Delhi Group Canadian Natural Plans To Acquire Anadarko Canada Canetic Resources Names Tiede COO CGG To Acquire Veritas for US$3.1 Billion Chaparral To Acquire Calumet Oil Chesapeake Plans To Buy Stake In Chaparral Chevron Reaches Record-Breaking Depths In Gulf Of Mexico Crescent Point To Acquire Mission Oil & Gas Endeavour Names Chairman And Vice Chairman Energy Partners Rejects Woodside Petroleum Bid Ipsco Plans Acquisition Of NS Group For $1.5 Billion Knight Gains Assets In Oklahoma And Texas Meridian Resources Acquires Offshore Texas Assets From Vintage Noble Drilling Names Williams VP Of Business Development Pengrowth Energy Closes ExxonMobil Canada Asset Acquisition Pengrowth Plans To Acquire Alberta Interests From ExxonMobil Riata Changes Name To SandRidge Energy Riata Plans To Acquire NEG Oil & Gas Shiningbank Energy Income To Acquire Rider Resources Sinopec And ONGC Videsh Close Omimex De Colombia Acquisition Statoil Plans To Acquire Gulf Assets From Plains Exploration Superior Energy Services Plans To Acquire Warrior Energy Tullow To Acquire Hardman Resources Companies in This Issue Companies in this Issue Company Briefs Additional news Apache leaves Bohai Bay, China Exco to buy Winchester; roll out assets into MLP M&A News Oxy to expand in California, West Texas Peoples to merge with WPS Resources Completions Blackbeard Nissa Darbonne, Executive Editor E&P Momentum Make way for Shales Peggy Williams Editors Comment A Change In The U.S. Gas Game? Leslie Haines Abundance of Social, Tax Problems Renewed In South America Stephen Payne Abundance Of Social, Tax Problems Renewed In South America Stephen Payne BP News Initially Startles Markets; Revision Calms Bertie Taylor Canadian Stalemate Taryn Maxwell CERA: Projects Under Way Mean Peak Oil Nowhere In Sight Don Lyle Dairy Farms to Contribute New U.S. Gas Supply Nissa Darbonne Dairy Farms To Contribute New U.S. Gas Supply Nissa Darbonne El Paso May Get Back into The M&A Game Bertie Taylor El Paso May Get Back into The M&A Game Bertie Taylor El Paso May Get Back into The M&A Game Bertie Taylor El Paso May Get Back Into The M&A Game Bertie Taylor El Paso May Get Back Into The M&A Game Bertie Taylor From Alaska To Denver Leslie Haines Independents Produced Nine Of 10 Texas Barrels Of Oil In 2005 Leslie Haines Make Way For Shales Peggy Williams New Exploration Wells Down, Development Up In U.K. North Sea Peggy Williams Oil-Sands Development Affecting Canadian Natural Gas Exports Brian A. Toal Oil-Sands Development Affecting Canadian Natural Gas Exports Brian A. Toal Public Independents Bertie Taylor RSEG: Rotational Shifts Could Cure Some Oil-Sands Woes Bertie Taylor S&P: $100 Oil Could Slow GDP Growth, But Won't Cause Recession Bertie Taylor Saudi Aramco Gears Up With Higher Rig Count, New Ventures Leslie Haines Shale-Gas Producers Ramping Up Production, Rigs Leslie Haines Stronger For Longer Brian A. Toal Ziff: Gas/Oil Price Divergence Widest Since 1996 Brian A. Toal Exploration Highlights Eastern U.S. Gulf Coast International Highlights Peggy Williams Midcontinent and Permian Basin Western U.S. From the Editor-in-Chief From Alaska to Denver Leslie Haines New Financings New Financings NewsWell Acquisition costs hit historic high in second quarter Taryn Maxwell Calgary firm: Rotational shifts could cure some oil-sands labor woes Bertie Taylor CERA: Projects under way mean peak oil nowhere in sight Don Lyle Chesapeake will need FAA clearance for some Barnett wells Bertie Taylor Dairy farms to contribute new U.S. gas supply Nissa Darbonne ExxonMobil/Newfield ultradeep-shelf wildcat temporarily abandoned Nissa Darbonne Independents produced nine of 10 Texas barrels of oil in 2005 Leslie Haines New exploration wells down, development up in U.K. North Sea Peggy Williams New U.S. refining capacity planned by end of 2010 Bertie Taylor Oil-sands development affecting Canadian natural gas exports Brian A. Toal Prospectors show nearly $500 million in interest in Western GOM Oil and Gas Investor This Week S&P: $100 oil could slow GDP growth, but won't cause recession Bertie Taylor S&P: U.S. economy more sensitive now to energy costs Bertie Taylor Sayer: Canadian producers seek fewer dollars in first half Stephen Payne Shale-gas producers ramping up production, rigs Leslie Haines Solich trying hand at private-equity placement Taryn Maxwell Ziff: Gas/oil price divergence widest since 1996 Brian A. Toal On the Money Stronger for Longer Brian A. Toal Trends & Analysis Capping Risk Bill Martin, Benfield Corporate Risk, Houston