Apache Corp., Houston, (NYSE: APA) and Unocal Corp. (NYSE: UCL) have traded some Gulf of Mexico-area assets. Unocal received Apache's 13% working interest in the Unocal-operated Ship Shoal 208 Field and an undisclosed amount of cash in exchange for Unocal's majority interest in the Lake Pagie Field in Terrebonne Parish, La.Unocal now holds 100% of the Ship Shoal 208 Field, which covers three Gulf blocks. Apache now operates and holds substantially all of the net revenue interest in the Lake Pagie Field.The net production increase to Unocal at Ship Shoal 208 is about 800 barrels of oil equivalent per day, and net proven reserves added are about 1.4 million barrels of oil equivalent. Lake Pagie net production received by Apache is 1,200 barrels of oil equivalent per day plus net proven reserves of approximately 2.5 million barrels of oil equivalent.Unocal is also selling 20 additional properties in the Lower 48. It expects that, by year-end, it will have sold its working interest in about 90 Gulf-area fields, having net average daily production of about 20,000 barrels of oil equivalent and proved reserves of 40 million.It is retaining interest in 25 producing fields in the Gulf region, having 61,000 barrels of oil equivalent per day of production and 105 million in reserves.Angus Energy Corp., Dallas, (Pink Sheets: AGSC) has acquired drilling rights and operating interests in the Stanton Powell Ranch and surrounding properties in Bosque County, Texas, from an unknown seller. Angus now controls more than 17,000 acres of mineral interests in the Barnett Shale.Arena Resources Inc., Tulsa, Okla., (Amex: ARD) plans to acquire a 100% working interest in mineral leases in Eddy County, N.M., and Yoakum County, Texas. The leases consist of approximately 2,700 acres with existing production from 30 wells. Closing was expected by Oct. 31.Bandera Petroleum Inc., Tulsa, subsidiary Bandera Minerals LLC has purchased all of the mineral and royalty holdings of Commercial Minerals Inc. The assets are in Texas, Oklahoma and Kansas and include some 70,000 gross acres with 240 producing wells.The deal increases Bandera's total holdings to more than 1.2 million gross acres, including more than 3,800 producing wells.Bank of Oklahoma handled the sale.Chesapeake Energy Corp., Oklahoma City, (NYSE: CHK) has purchased south Texas assets from Laredo Energy LP, Houston, and partners for $200 million. The assets, which are 100% gas, are in the Zapata County portion of the south Texas Lobo Trend. Reserves are estimated at 196 billion cubic feet of gas equivalent: 108 billion proved and 88 billion probable or possible. Production is approximately 30 million cubic feet equivalent per day. Of the price, $48 million is assigned to unevaluated leasehold for probable and possible reserves and exploratory acreage. Excluding that, Chesapeake estimates the purchase price at $1.41 per thousand cubic feet equivalent of proved reserves. Including future leasehold and drilling costs to fully develop the proved, probable and possible reserves, Chesapeake estimates the all-in acquisition cost for the 196 Bcfe at $1.51 per thousand cubic feet equivalent.The proved reserves have a reserves-to-production index of 10 years and are 32% proved developed. Initial lease operating expenses on the acquired properties are expected to average $0.09 per thousand cubic feet equivalent, compared with $0.52 for Chesapeake during the first three quarters of 2003. Chesapeake has hedged 100% of the projected Laredo production at more than $5 per thousand cubic feet through year-end 2004. The purchase will be funded with cash on hand and debt. ChevronTexaco (NYSE: CVX) plans to acquire additional working interest and assume operatorship of the Blind Faith discovery from BP (NYSE: BP). ChevronTexaco will earn the right to operate Blind Faith with a 50% working interest, and BP will own the remaining interest.The Blind Faith #1 discovery well was drilled in June 2001 in some 6,900 feet of water in Mississippi Canyon 696. The discovery well partnership consisted of BP with 77.5% working interest and ChevronTexaco with the balance. Privately held Danmark Energy plans to acquire all of Mission Resources Corp.'s, Houston, (Nasdaq: MSSN) East Texas assets for $21.5 million. All of the properties are in the East Texas Field. Net production is approximately 1,150 barrels of oil equivalent per day from 180 wells, with estimated reserves of 4 million barrels of oil equivalent. Mission intends to use the proceeds to acquire Gulf Coast or South Texas gas properties. The sale was expected to close in late October. E-L Gas Co. Inc., Enlo Energy Co. Ltd. and D-H Energy have sold certain assets in Jack, Wise and Tarrant counties, Texas. The properties were operated and consist of interests in 168 producing wells on 27 leases covering a total of 21,650 gross acres. The production and reserves sold are mainly in the Bend Conglomerate formation.The properties were sold in two transactions. Energy Spectrum Advisors Inc., Dallas, was advisor.Edge Petroleum Corp., Houston, (Nasdaq: EPEX) has acquired properties in its core South Texas area for $9.1 million.Proved reserves are estimated at 6.2 billion cubic feet equivalent. Daily production is 1.8 million cubic feet equivalent. Both are approximately 85% gas. The assets are 70% operated.Empiric Energy, Dallas, (OTC Bulletin Board: EPRC) has sold approximately 13,000 net acres in the Texas Panhandle Field in Moore and Potter counties for $350,000 in cash and stock.Harken Energy Corp., Houston, (Amex: HEC) has cancelled plans to sell most of its properties in the Texas Panhandle for $8.7 million in cash to an undisclosed buyer.Harken has not provided a reason for the cancellation. However, it is negotiating with another potential buyer. Petrie Parkman & Co. is advising Harken.Lehman Brothers and Nabors Industries Ltd. have put in a total $350 million toward El Paso Corp.'s, Houston, (NYSE: EP) $500-million, nine- to 12-month U.S. drilling program.Lehman put in $250 million for a 50% net profits interest in two packages of wells, after costs, and Nabors put in $100 million for a 20% net profits interest. Upon payout, Lehman's and Nabors' interests will convert to overriding royalty interests. El Paso retains the remaining 30% interest. It plans to spend 54% of the $500 million through El Paso Production Co. and El Paso Production GOM Inc. and the balance through El Paso Production Oil & Gas USA LP.The agreements allow El Paso to continue drilling its inventory within its existing capex budget.Credit Lyonnais analyst Gordon Howald says, "This is somewhat of a shift in strategy from what prior El Paso management had initially leaned toward for El Paso, which was not 'farm-outs,' but rather a partial monetization of its E&P division via an IPO. It was the dissident shareholders that had put forth this proposal, which we saw as a major difference between the two plans."North Coast Energy Inc., Twinsburg, Ohio, (Nasdaq: NCEB) reports it received several proposals to acquire the company, in response to its April hiring of R.W. Baird & Co. to help it evaluate strategic alternatives to improve shareholder value. "The prices reflected in these proposals are below the recent market trading prices of the company's stock," North Coast reports. The company's stock was trading at around $3 at the time of the spring announcement. Since then, shares improved to nearly $15 and were around $11 recently.Evaluations of proposals and discussions with interested parties continue, North Coast reports. The company primarily explores for gas in the Appalachian Basin. Oneok Energy Resources Co., a subsidiary of Oneok Inc., Tulsa, Okla., (NYSE: OKE) plans to acquire East Texas properties and related gathering systems from Wagner & Brown Ltd., Midland, Texas, for approximately $240 million.Proved reserves are estimated at 177.2 billion cubic feet of gas equivalent. Production is approximately 26 million cubic feet of gas equivalent per day. The proved reserves have a reserve life of 12.4 years and are 91% gas. The acquisition is expected to close by year-end.Patina Oil & Gas Corp., Denver, (NYSE: POG ) has acquired Cordillera Energy Partners LLC for $244.5 million in cash and stock, gaining 235 billion cubic feet equivalent of proved reserves.Cordillera's shareholders received $240.5 million of cash plus five-year warrants to purchase 500,000 common shares of Patina at $45 each.The acquired reserves are 93% gas and primarily in the Midcontinent (91 billion cubic feet equivalent), the San Juan Basin (132 billion) and the Permian Basin (12 billion). Patina estimates that its total proved reserves are now approximately 1.5 trillion cubic feet equivalent.Net daily production from the Cordillera properties exceeds 31 million cubic feet equivalent.Cordillera's principal shareholder was EnCap Investments LP.The deal establishes a third core area for Patina in the San Juan Basin. It also has holdings in Colorado's Wattenberg Field and in the Midcontinent.XTO Energy Inc., Fort Worth, (NYSE: XTO) has acquired properties in Texas, Arkansas, New Mexico and Colorado for $100 million, gaining proved reserves of 83 billion cubic feet of gas, 60% proved developed. The assets are producing 12.7 million cubic feet of gas per day.In East Texas, XTO purchased 42 billion cubic feet equivalent of reserves, 38% proved developed, in Freestone and Limestone counties. Production is 4 million cubic feet equivalent per day. Included are 11,000 gross acres and a gas-processing plant.In the Arkoma Basin, XTO acquired 19 billion cubic feet equivalent of reserves, 88% proved developed, in Franklin, Logan, Pope and Sebastian counties. The interests produce about 4.3 million cubic feet a day, net, mostly from the Aetna Field.In the San Juan Basin, XTO added 22 billion cubic feet equivalent of reserves, 78% proved developed, in New Mexico and Colorado. The interests contribute 4.4 million cubic feet per day of production, with about 70% attributable to the Fruitland Coal formation.