The Oil Daily articles from June 2003

The Oil Daily archives from June 2003

Anticipated Iraqi Exports Roiling Market.
June 2, 2003... Even before they start, Iraqi oil exports are knocking the value of rival producers' grades. Russia is being hit particularly hard. The prospect of a near-term return of Iraqi oil through a tender for stored Kirkuk crude at the Turkey's...

Pemex Audit Becoming Political Football.
June 2, 2003... An audit of Pemex by a Mexican congressional committee regarding financial information for 2001 has led to charges of irregularities and has opened the possibility of a "scandal" timed to influence Mexico's legislative elections. Pemex...

Platts Faces Gasoline Pricing Challenge.
June 2, 2003... LONDON -- Pricing service Platts has responded to a challenge by European gasoline traders to its new product price assessment methodology -- but the response came straight from the deep freeze. Traders have objected to Platts' decision to...

Crude Prices Move Little During Week, Market Awaits Opec News.
June 2, 2003... Crude oil prices continued to move higher Friday as traders continued to digest Thursday's weekly inventory reports, which showed an unexpected draw in gasoline stocks. Gasoline and heating oil futures on the New York Mercantile Exchange...

Thirsty US Refiners Soak Up Plethora of Russian Crude Cargoes for Gasoline Output.
June 2, 2003... The absence of Iraqi barrels and significant cuts in Saudi crude exports have prompted US end-users to snap up trans- Atlantic alternatives as refineries crank up runs to meet higher gasoline demand. Though sour differentials came under...

Senate Returns to Focus Once Again on Energy Legislation.
June 2, 2003... WASHINGTON -- A sweeping energy bill, shelved for well over three weeks, will finally be front and center in the Senate as lawmakers reconvene today after a week-long recess for the Memorial Day holiday. The first order of business will be...

Natural Gas Prices Are Likely to Avoid Spikes in the Short Term.
June 2, 2003... The price spikes that so many pundits anticipate for the gas market this summer are likely to hold off through early June due to widespread mild weather in forecasts for eastern US markets. Still, there is a pervasive sense that the gas market...

Daily Oil & Gas Price Review.(Illustration)
June 2, 2003... Daily Oil & Gas Price Review Prices for Friday, May 30, 2003 Light Sweet Futures -- Prompt Month ($/barrel) 1st 5-Day 2nd 3rd Chg Month Avg. ...

Canadian Gas Storage.(Brief Article)
June 2, 2003... Canadian Enerdata reported that the amount of natural gas in Canadian storage facilities rose 15.9 Bcf to 149.0 Bcf for the week ended May 23. Storage caverns are 30.8% full, up from 27.6% full one week ago, but down from 55.4% full a year ago....

Baker Hughes Drilling Report.(rig count)(Brief Article)
June 2, 2003... US Rig Count Rises 9 The number of rigs searching for oil and gas in the US rose by 9 to 1,059 for the week ended May 30, according to Baker Hughes. A year ago there were 854. The number of rigs searching for oil fell by four to 160...

Stock Market Scorecard.(stock prices, various energy companies)(Illustration)
June 2, 2003... Stock Market Scorecard Close 1-Day. % Chg.? May 30 Chg. % Chg. 10-Day 52-Wk YTD Integrated Majors Occidental 33.74 +0.90 ...

Southern Union Issues Guidance.(Brief Article)
June 2, 2003... Natural gas utility Southern Union on Friday said it expects fiscal 2003 earnings at or near the low end of its forecast range, reflecting the impact of a stock offering and its acquisition of CMS Energy's Panhandle Eastern Pipe Line. The...

Piedmont's Profits Slip.(Piedmont Natural Gas)(Brief Article)
June 2, 2003... Natural gas distributor Piedmont Natural Gas on Friday said second-quarter profit fell as changes in the way it records revenue and the cost of gas for volumes delivered but not yet billed decreased earnings. For the quarter ended Apr. 30,...

Climate Report Backs Ethanol.(use of ethanol in gasoline can reduce carbon dioxide emissions)(Brief Article)
June 2, 2003... Carbon dioxide emissions linked to climate change can be drastically cut in the transportation sector by adopting policies that reduce gasoline consumption and increase corn- based ethanol use in gasoline, says a new report released by the Pew...

California Oil Output Dips.(Brief Article)
June 2, 2003... Data released May 28 by the California Department of Conservation show a 4,000 b/d monthly decline in crude oil production in February to 772,000 b/d. Fields in the San Joaquin Valley's Kern County in central California were responsible...

Meridian Makes Gas Find.(Meridian Resource)(Brief Article)
June 2, 2003... Houston-based Meridian Resource Friday posted initial production results from its Biloxi Marshlands No. 6-2 well, its second prospect in the area. The 6-2 well tested into the sales line from the Lower Cris I sand interval through...

Valero Sells $300M in Notes.(Valero Energy)(Brief Article)
June 2, 2003... Independent oil refiner and marketer Valero Energy has sold $300 million in 10-year notes, joint lead managers Barclays Capital, J.P. Morgan, and Morgan Stanley said on Friday. Valero also recently issued $250 million in three-year...

Williams Mulls Offering.(of unsecured notes)(Brief Article)
June 2, 2003... Natural gas company and pipeline operator Williams said Thursday it is considering a sale of $500 million in unsecured notes, but would evaluate the market and likely pricing before making a final decision. If an offering comes off, it...

Plains Closes Note Offering.(Plains Exploration & Production)(Brief Article)
June 2, 2003... Houston-based Plains Exploration & Production said Friday it completed its $75 million note offering, which will help finance its acquisition of 3TEC Energy (OD Feb.4,p7). Plains successfully completed the private placement of $75 million...

Halliburton Settles Suits.(Brief Article)
June 2, 2003... Halliburton said Friday it signed a memorandum of understanding to settle 20 shareholder class-action lawsuits concerning claims for the purchase of the oil-field service company's stock over a four-year period. Houston-based Halliburton...

Transocean Gets Conoco Stake.(in Deepwater Drilling II joint venture)(Brief Article)
June 2, 2003... Offshore drilling contractor Transocean said Friday that a subsidiary has purchased ConocoPhillips' 40% interest in the Deepwater Frontier joint venture, Deepwater Drilling II. Transocean already owns the other 60% interest in the joint...

Suncor Names New CFO.(J. Kenneth Alley appointed at Suncor Energy)(Brief Article)
June 2, 2003... Canadian integrated firm Suncor Energy said Friday it appointed J. Kenneth Alley as its new senior vice president and chief financial officer, effective Jul. 1. Currently Suncor's current vice president of finance, Alley will replace Steve...

Iraqi Oil Advisory Board Due by Mid-June.
June 3, 2003... BAGHDAD -- Ending the mystery of its composition and the weeks of speculation about whether it would ever materialize, initial members of the US-appointed advisory board for the Iraqi oil sector are to be named by mid-June. Iraqi citizens...

Devon, Gulfsands Ink Syrian Exploration Deal.
June 3, 2003... HOUSTON -- Devon Energy and privately owned Gulfsands Petroleum have signed a four-year deal to acquire seismic data and drill four oil exploration wells in northeastern Syria, extending Devon's presence in the politically sensitive Middle...

Nymex Crude Futures Shoot Past $30/bbl, Hits Six-Week High.(Brief Article)
June 3, 2003... Crude futures in New York shot past $30 per barrel Monday as traders reacted to fresh government data that shows the US economy is improving and maybe is not as bad as had been thought. Concerns over US inventories -- particularly gasoline...

Somo Tender Slowed by Logistical and Communications Problems.(State Oil Marketing Organization)
June 3, 2003... BAGHDAD -- Local logistical and communications problems still are slowing the restart of Iraqi crude oil exports, although tender documents for the first legal oil sales since the start of the war and the ending of UN sanctions could be sent...

Broad Market Surge, Oil and Gas Price Strength Boost Energy Shares.
June 3, 2003... Continued strength in the broader equity market combined with robust crude oil and natural gas prices to produce solid gains for energy shares last week. The S&P 500 continued its late May surge, gaining 3.2% last week to close at 963.59...

Premcor Cuts Q2 Earnings Forecast, Blames Softening Margins.
June 3, 2003... Shares of Premcor moved lower Monday after the independent refiner said it expects second-quarter earnings to be below analysts' forecasts. Premcor said after the market closed on Friday that it expects second-quarter earnings to be...

Halliburton Delivers Assessment of Damage to Iraqi Fields.(Kellogg, Brown & Root reports on Iraq's oil infrastructure)
June 3, 2003... BAGHDAD -- Halliburton subsidiary Kellogg, Brown & Root (KBR) is understood to have presented its first assessment of the physical condition of Iraq's oil infrastructure to the top oil official with the US occupation force in Baghdad on Sunday....

Russia Expects a Role for Its Companies in Postwar Iraq.
June 3, 2003... MOSCOW -- Russia continues to expect a role in postwar Iraq, the country's president, Vladimir Putin, made clear in a weekend meeting with his US counterpart, George W. Bush. The meeting between the two leaders -- their first since the Iraq...

Daily Oil & Gas Price Review.(Illustration)
June 3, 2003... Daily Oil & Gas Price Review Prices for Monday, June 2, 2003 Light Sweet Futures -- Prompt Month ($/barrel) 1st 5-Day 2nd 3rd Chg Month Avg. ...

Cooling Degree Days.(Illustration)
June 3, 2003... Cooling Degree Days Week Dev Cum Dev For week of From From From May 31, 2003 Week From Year...

Stock Market Scorecard.(Illustration)
June 3, 2003... Stock Market Scorecard Close 1-Day. % Chg.? Jun 02 Chg. % Chg. 10-Day 52-Wk YTD Integrated Majors ConocoPhillips 55.04 +1.07 ...

Swift Updates Production.(Swift Energy Co.)(Brief Article)
June 3, 2003... Houston-based Swift Energy said Monday that May production from its Lake Washington Field averaged more than 5,700 net boe/d. Oil barging operations are functioning normally and have become the primary oil sales outlet, Swift said. Barging...

BP to Drill for Treasure.(BP Exploration & Production will test Treasure Island exploration concept)(Brief Article)
June 3, 2003... Newfield Exploration received notice from BP Exploration & Production of its intent to drill an initial well to test the Treasure Island exploration concept, as provided for and subject to the terms and conditions of the joint exploration...

Fitch Gives Exxon Top Rating.(Brief Article)
June 3, 2003... Fitch Ratings initiated coverage of US supermajor Exxon Mobil and assigned its 'AAA' senior unsecured rating to the company, as well as a commercial paper rating of 'F1+', reflecting its superior financial standing. The assignments affect...

Opec Delegates Discuss Summit.(Brief Article)
June 3, 2003... Deputy oil ministers and other senior officials from Opec members will meet later this week in Vienna to discuss "long- term planning" with a view to staging a gathering of heads of state from oil producer countries in 2005, Opec sources said...

Saudi Move Bolsters Silva.(Saudi Arabia nominates Suleiman al-Herbish to serve as head of OPEC Fund for International Development)(Brief Article)
June 3, 2003... Saudi Arabia has nominated its representative on the Opec board of governors, Suleiman al-Herbish, to serve as head of the Opec Fund for International Development, a move that could pave the way for Opec Secretary General Alvaro Silva to serve...

Mexico to Keep Exports Steady.(Brief Article)
June 3, 2003... Mexico will maintain crude exports at 1.88 million b/d in June, and will continue its "careful evaluation" of the oil markets, the country's Energy Ministry said late Friday. It added that Mexico would "pay close attention" to the results of...

Peru Sets New Royalty Terms.(Brief Article)
June 3, 2003... Peru approved two new royalty calculation schemes for hydrocarbon contracts Friday designed to encourage investments in smaller fields and speed negotiations over field development plans. PetroPeru will promote the new terms in Calgary, Canada,...

Petrobras to be Listed on Merval.(Buenos Aires stock exchange)(Brief Article)
June 3, 2003... Brazilian state oil company Petrobras is planning to list shares in the Buenos Aires stock exchange as part of a series of moves to rapidly consolidate its recent acquisition of a majority stake of Argentine Pecom Energia (Perez Companc),...

Chevron Sells Texas Refinery.(Brief Article)
June 3, 2003... ChevronTexaco on Monday said it would sell its stake in a small refinery complex in El Paso, Texas, to Western Refining Co. LP, a closely held firm that owns a minority stake in the complex. The company did not disclose financial terms of the...

Halliburton Sells Unit.(Halliburton Measurement Systems)(Brief Article)
June 3, 2003... Halliburton said it sold Halliburton Measurement Systems for approximately $33 million in cash to NuFlo Technologies, an investment by the Houston-based private equity firm SCF Partners. The sale of the unit is part of Halliburton's...

Grey Wolf Buys El Paso Rigs.(Brief Article)
June 3, 2003... Drilling services provider Grey Wolf said it would close a deal this Wednesday to buy two rigs from a subsidiary of El Paso for $9 million in cash. One of these rigs is currently operating under a management agreement with Grey Wolf and...

CMS Sells Pipeline Stake.(Brief Article)
June 3, 2003... Dearborn, Michigan-based CMS Energy said Monday it sold for $26 million its one-third interest in the 142 mile Guardian Pipeline, which stretches from Joliet, Illinois, into southern Wisconsin, to a subsidiary of Wisconsin Public Service...

Williams Closes Asset Sales.(Brief Article)
June 3, 2003... Williams said late Friday that it closed three previously announced transactions involving sales of assets and a power contract for a total of approximately $663 million. Williams Chairman and CEO Steve Malcolm, said the sales are evidence...

Dominion Sets Cove Point Start.(Brief Article)
June 3, 2003... In a filing with the Federal Energy Regulatory Commission (FERC) last week, Richmond-based Dominion said that it expects its Cove Point, Maryland, LNG Facility, located on Chesapeake Bay, to be reactivated on Jul. 22. According to Dominion...

Diamond Gets Pemex Contract.(Diamond Offshore Drilling )(Brief Article)
June 3, 2003... Diamond Offshore Drilling said Monday that it was awarded three drilling contracts for semisubmersible rigs by Pemex, Mexico's state-owned oil company. The work, which is expected to generate total combined revenues of approximately $272...

Institutional Group Favors El Paso Dissidents.
June 4, 2003... HOUSTON -- A recommendation in favor of El Paso's dissident shareholder group by Institutional Shareholders Service (ISS) on Tuesday may have given the Selim Zilkha-led opposition the edge it needs to prevail in efforts to oust El Paso's board...

Iraq Production Capability Appears Overstated.
June 4, 2003... BASRAH -- A large gap exists between the ambitious plans being hatched in Baghdad to restore Iraqi oil production and the reality on the ground in southern Iraq, the country's largest production center. While officials at the oil ministry...

Futures Market Consolidates Gains; All Eyes on US Inventory Data.(Brief Article)
June 4, 2003... Crude futures on the New York Mercantile Exchange (Nymex) ended slightly lower, consolidating much of the gains achieved in Monday's rally that pushed prices beyond $30 per barrel. Nymex sweet crude posted a light loss of 4cents/bbl to...

More Russian Barrels Find a Home in US Gulf Coast Market.
June 4, 2003... US spot crude traders can't seem to get enough of Russian crude. Approximately 3 million barrels of Russian Urals have been sold in the Gulf Coast market in the past few days, with three deals being completed Monday, said a Gulf Coast...

ChevronTexaco, Edison Mission Expand Sunrise Power Project.
June 4, 2003... ChevronTexaco Worldwide Power and Gasification and Edison Mission Energy (EME) completed the phase two expansion of the Sunrise Power Project and repeated history by adding gas- fired generation to the power-hungry California market "just in...

Sigh of Relief Pushes Shares of Top Integrated Oils Past Market in May.(shares of top integrated oil and gas companies rally past the broader equity market in 5/03)
June 4, 2003... After missing out on the fun in April, shares of top integrated oil and gas companies rallied past the broader equity market in May spurred by crude oil prices that continued to firm despite investor fears of a collapse after the US-led war...

Special Counsel Sought on DOI's Griles.(groups call for an investigation of Deputy Interior Secretary J. Steven Griles)(Brief Article)
June 4, 2003... WASHINGTON -- A number of public interest groups on Tuesday called for the appointment of a special counsel to investigate whether Deputy Interior Secretary J Steven Griles unlawfully used his office to favor his former clients, including Devon...

KBR Crew Released After Being Held by Iranian Coast Guard.(Kellogg Brown & Root)
June 4, 2003... DUBAI -- What was supposed to be a routine mission to inspect the Mina al-Bakr oil terminal off Iraq's southern Al- Fao peninsula turned into a 26-hour nightmare in Iran for a group of nine soldiers, engineers, and naval crew subcontracted by...

European Imports Soften Bite of Low US Oil Product Inventories.(gasoline imports)
June 4, 2003... There may be some European salve to take part of the sting off tight US gasoline supplies going into this summer's driving season while also helping to ameliorate a potential threat to heating oil supplies later in the year. European...

Alberta Energy Board Bullish on Oil Sands, Bearish on Gas.(Alberta's oil sands production may triple by 2012)
June 4, 2003... Alberta's oil sands production -- already greater than its conventional crude output -- could triple by 2012, according to the Canadian province's Energy and Utilities Board (EUB). Meanwhile natural gas production in Alberta faces a steady...

Kuwait Petroleum Readies Contracts for Northern Fields.
June 4, 2003... LONDON -- Kuwait Petroleum Corp. (KPC) is planning next week to send out long-awaited drafts of a contract for international oil companies to invest in expanding Kuwait's northern oil fields. The issue of drafts for the operating service...

Daily Oil & Gas Price Review.(Illustration)
June 4, 2003... Daily Oil & Gas Price Review Prices for Tuesday, June 3, 2003 Light Sweet Futures -- Prompt Month ($/barrel) 1st 5-Day 2nd 3rd Chg Month Avg. ...

Stock Market Scorecard.(stock prices for several petroleum firms)(Illustration)
June 4, 2003... Stock Market Scorecard Close 1-Day. % Chg.? Jun 03 Chg. % Chg. 10-Day 52-Wk YTD Integrated Majors Total Fina Elf 75.15 +1.15 ...

Pioneer Drilling Posts Loss.(for its fiscal fourth quarter and fiscal year 2003)(Brief Article)
June 4, 2003... Pioneer Drilling on Tuesday reported results for the three months ended Mar. 31 as well as its fiscal year 2003. Revenue for the fiscal fourth quarter of 2003 was $25.1 million, compared with revenue of $16.2 million in the fourth quarter...

Remington Touts Discoveries.(Remington Oil and Gas announces two discoveries in the Gulf of Mexico)(Brief Article)
June 4, 2003... Remington Oil and Gas announced two discoveries in the Gulf of Mexico Tuesday and issued an update on its drilling and production activities. Dallas-based Remington said the discoveries were made at Eugene Island 397 A-8 and at Vermilion...

Patterson-UTI Reports for May.(drilling statistics for April and May)(Brief Article)
June 4, 2003... Patterson-UTI Energy reported drilling statistics for the months of April and May on Tuesday. The Snyder, Texas-based land driller reported a total of 5,856 drilling days in May, with an average of 189 drilling rigs in operation, including...

Exxon, Others Hit Oil in Angola.(Exxon Mobil discovers oil at Angola's Block 32, some 102 miles offshore)(Brief Article)
June 4, 2003... Exxon Mobil on Tuesday said oil was discovered at Angola's Block 32, located 102 miles offshore, with its first exploration well there. Block 32 is operated by France's Total, the largest stakeholder with 30%. Other owners include US...

PDV Courts Tomoporo Investors.(Petroleos de Venezuela's representatives are meeting with firms for the development of oil reserves at the Tomoporo field)(Brief Article)
June 4, 2003... Representatives of Venezuela's state owned oil giant Petroleos de Venezuela (PDV) have been holding informal meetings with foreign companies to potentially develop the recently discovered oil reserves at the Tomoporo field, one of the country's...

S&P Raises Repsol YPF Outlook.(Standard & Poor's improves its ratings outlook for Spanish Repsol YPF to stable)(Brief Article)
June 4, 2003... Standard & Poor's raised its outlook for Spanish Repsol YPF to stable from negative and improved its short-term corporate credit rating to A-2 from A-3 on Tuesday. The ratings reflect the company's solid positions in Spain's downstream oil...

Apache Offers Gulf Blocks.(32 blocks are being auctioned)(Brief Article)
June 4, 2003... Apache is auctioning 32 blocks in 18 western Gulf of Mexico fields, some just acquired from BP, as the US independent oil and gas producer shuffles its portfolio of assets. Houston-based Apache said the sales, managed by boutique investment...

Petrobras Makes Major Offshore Discovery.
June 5, 2003... Brazilian state oil giant Petrobras announced Wednesday four new offshore oil finds totaling an estimated 500 million barrels, which added to previous discoveries confirm the existence of a new oil-rich province in the northern part of the...

Romania Gearing Up for Sale of Petrom.
June 5, 2003... WASHINGTON -- The man presiding over the sale of a majority stake in Eastern Europe's largest state oil company says while price will be a consideration, a buyer who makes long- term development plans for the company that would benefit Romania...

Equatorial Guinea Eyes Marathon LNG Stake.(GEPetrol wants 25% stake in liquefied natural gas project)
June 5, 2003... London -- Equatorial Guinea's state oil company, GEPetrol, aims to take a 25% stake in US Marathon's proposed $1 billion liquefied natural gas (LNG) project, the country's secretary of state for energy, Gabriel Nguema Lima, told Oil Daily at...

Futures Slide for Second Straight Day After Strong Inventory Data.
June 5, 2003... Crude futures on the New York Mercantile Exchange (Nymex) and London's International Petroleum Exchange slipped for the second straight day after the latest weekly US data revealed a healthy inventory buildup last week. Nymex light, sweet...

FERC Denies Calpine Collateral Complaint; Sonat Due $31 Million.(Federal Energy Regulatory Commission)
June 5, 2003... WASHINGTON -- Federal regulators on Wednesday denied a complaint from natural gas shipper Calpine on the question of how much collateral a shipper should post to a pipeline, a ruling that has strong implications on pipeline creditworthiness...

Producers say Deep Shelf Drilling Won't Halt Gulf Gas Slide.
June 5, 2003... Deep shelf gas presents an interesting niche opportunity for a select band of producers but it will not halt the slide in overall gas production from the Gulf of Mexico, companies active in the deep shelf gas play said on Wednesday. "I...

Schlumberger Looking to Iran for Work, Despite Tensions with US.
June 5, 2003... Schlumberger, the international oil-field services giant, continues to dip its toe in Iran's oil sector, despite escalating tensions between Washington and Tehran. The company, which has headquarters in the US and France, is treading...

US Expects Iraqi Oil Exports To Fetch $5 Billion by End of Year.
June 5, 2003... WASHINGTON -- The US estimates revenues from Iraqi oil sales could reach $5 billion in the second half of this year even as it expects future oil export contracts to be more transparent but similar to those under the Oil for Food program, a top...

US, Asian Lifters Snapping Up Nigerian Crude In June.
June 5, 2003... Nigerian loading schedules for June show a sharp rise in exports to the US, to over 500,000 barrels per day from less than 250,000 b/d in April. The inflow of Nigerian light, sweet crudes will help US refiners gear up to meet a larger than...

Daily Oil & Gas Price Review.(Illustration)
June 5, 2003... Daily Oil & Gas Price Review Prices for Wednesday, June 4, 2003 Light Sweet Futures -- Prompt Month ($/barrel) 1st 5-Day 2nd 3rd Chg Month Avg. ...

EIA Weekly Statistics.(Energy Information Administration)(Illustration)
June 5, 2003... Department of Energy Weekly Statistics For Week Ended May 30, 2003 Crude Oil: StocksCrude Oil: Production and Imports (millions of bbl)(Average, thousands of bbl) Domestic Current Previous ...

Stock Market Scorecard.(Illustration)
June 5, 2003... Stock Market Scorecard Close 1-Day. % Chg.? Jun 04 Chg. % Chg. 10-Day 52-Wk YTD Integrated Majors Statoil 8.96 +0.30 ...

KCS Has Elm Grove Success.(KCS Energy Inc.)(Brief Article)
June 5, 2003... Houston-based independent KCS Energy announced Wednesday that continued drilling and workover success at the 100% working interest Elm Grove field in north Louisiana has increased production rates to over 20 MMcf/d. "We have now brought...

Crosstex Gets Financing.(Crosstex Energy receives funding to acquire assets from Duke Energ Field Services)(Brief Article)
June 5, 2003... Crosstex Energy said Wednesday it closed two new senior secured financing facilities: a bank facility of $100 million and an institutional shelf facility of $50 million. The Dallas-based midstream gas company will use the funds for general...

Schlumberger Sells Bonds.(to pay down debt)(Brief Article)
June 5, 2003... Schlumberger said Wednesday it privately sold $1.3 billion of 20-year senior bonds convertible into stock, and plans to use proceeds to retire debt. Shares of the New York- and Paris-based company' fell early Wednesday on the news. ...

Williams Expects New Facility.(Brief Article)
June 5, 2003... Williams said Wednesday it expects to secure a new $800 million credit facility in the next few weeks. The new financing would replace an existing $1.1 billion credit line the company secured last summer and would be used primarily for issuing...