Oil and Gas Investor Magazine - January 2003 January 1, 2003 Feature BEST UPSTREAM BUYS Brian Toal FOCUSING ON RETURNS Leslie Haines MAGNOLIA MAGIC Peggy Williams NORTH AFRICA Nissa Darbonne SOUTH TEXAS Leslie Haines STRAIGHTENING THE DRILLING CURVE Peggy Williams THE UNDER-$5-MILLION LOAN Companies in This Issue Companies in This Issue Company Briefs 2003 U.S. spending to stabilize at 2002 rate Additional briefs Canadian news... Capital-provider news... Other CDX, ArcLight form Lightning Gas Other International news... Williams give up contol of MLP Other XTO Energy increases its CBM portfolio Completions BUYERS with CASH Nissa Darbonne E&P Momentum LEASING & PERMITTING DATA Other Exploration Highlights EASTERN U.S. GULF COAST INTERNATIONAL HIGHLIGHTS Peggy Williams MIDCONTINENT & PERMIAN BASIN WESTERN U.S. From the Editor-in-Chief HAPPY NEW YEAR LESLIE HAINES New Financings New Financings - Equity/Debt table NewsWell Canadian juniors are selling sooner than expected Other ChevronTexaco outlines its North American commitment Leslie Haines Gas prices in the Rockies to benefit from pipeline expansions Peggy Williams M&A continues to remain mostly in state of gridlock Nissa Darbonne PIRA gives big points to biggest oil companies Other Producers focus on deeper U.S. gas targets Leslie Haines On the Money A DRILLING PROMENADE IN THE ATWATER FOLD BELT Peggy Williams Trends & Analysis The tables have turned: Interest in private oil and gas investment climbs Other