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Analysis: Big Oil causing high gas prices?

UPI Correspondent
THE DALLES, Ore., April 3 (UPI)

As gas prices reach record highs, some policymakers say big oil companies are to blame, but the companies say it's not their fault


BP makes new Gulf of Mexico discovery

USA/GULF OF MEXICO: BP has made a new discovery at its Kodiak prospect, located in Mississippi Canyon Block 771, around 60 miles (95 km) off the Louisiana coast, in around 5,000 feet (1,500 m) of water.

The well is operated by BP Exploration & Production with a 63.75 working interest. Co-owners Eni and Marubeni Oil & Gas have 25 percent and 11.25 percent respectively.

The lease was acquired in March 2002 at Lease Sale






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M.J. Brogdin Consulting, LP severing the oil and gas industry in specializes in, well planning, drilling, completion and production.

In conjunction with these services we offer experienced on-site supervision with the expertise to develop, evaluate and execute projects ranging from a single well to entire fields. Our primary objective is to provide the client with a producing well bores at optimized cost and no lost time accidents.

The focus of M. J. Brogdin Consulting, LP is to establish long-term relationships and demonstrate added value from our services.

My name is MICHAEL BROGDIN, President of the company. I established an office in May 2000 in Amarillo Texas after long service with a large independent oil and gas company. My ending position was Drilling superintendent 1985 - 2000

The following pages will furnish you with information on my company. I presently have ten well-sight consultants working for me. We offer expertise from staking a well to installation into the sales line. We would appreciate the opportunity of working with you and your company.

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Office: 806-374-0288
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Devon Energy will sell its oil and gas assets in Equatorial Guinea for $2.2 billion and shift its focus to nearly two-dozen hot Gulf of Mexico prospects, a company spokesperson told Rigzone.

"We are heavily engaged in exploration and production in the Gulf of Mexico," said Devon spokesperson Chip Minty. He added that Devon has 20 prospects left to drill in a "very exciting area" where the company has a "good deal of running room."

The company is seeking to move its assets and rededicate its efforts with a passion on the hot Gulf of Mexico prospects, said Minty.

In a press release issued by the company, after-tax proceeds from the sale are estimated to be $1.7 billion. While closing of the sale is expected to be on May 30, the effective date of the sale is Jan. 1, 2008.

Devon's principal Equatorial Guinea asset is a 23.75% participating interest in the Zafiro offshore oil field, which contains an estimated proved reserves of 55 million barrels of oil. Two undeveloped offshore blocks were also included in the transaction.

"This transaction represents the largest piece of our African divestiture program," said Devon President John Richels in the press release. "With aggregate pre-tax proceeds of the announced transactions surpassing three-billion dollars, the divestiture results have exceeded our expectations."


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