KMG Chemicals Inc. (NYSE:KMG)
Industry: Basic Materials

OFF LIST - 2769 consecutive market days: OFF LIST as of 06/07/2005 Through 11/14/2016

Kerr-McGee Corporation (Kerr-McGee) is a United States-based independent oil and natural gas exploration and production companies, with nearly one billion barrels of oil equivalent (boe) of proved reserves as of December 31, 2005. The Company's major producing operations are located onshore in the United States, the United States Gulf of Mexico and offshore China. In addition, it explores for oil and gas in these core areas and in hydrocarbon basins worldwide, including the North Slope of Alaska and offshore West Africa, Brazil and Trinidad and Tobago. The Company acquires leases and concessions and explores for, develops, produces and markets crude oil and natural gas. In January 2006, Kerr-McGee announced an agreement to sell its interests in Gulf of Mexico shelf oil and natural gas properties to W&T Offshore, Inc. (W&T). Tronox Incorporated (Tronox) is a majority-owned subsidiary holding Kerr-McGee's chemical business. During the year ended 31, 2005, the Company sold its entire North Sea oil and gas business. On September 30, 2005, Kerr-McGee completed the sale of its interests in four non-operated oil and gas fields in the United Kingdom sector of the North Sea and related exploratory acreage and facilities. On November 17, 2005, it completed the sale of all remaining North Sea operations. On June 25, 2004, Kerr-McGee completed a merger with Westport Resources Corporation (Westport), an independent exploration and production company with operations onshore in the Rocky Mountain, Mid-Continent and Gulf Coast areas in the United States and in the Gulf of Mexico. The merger added 281 million barrels of oil equivalent (MMboe) to its proved reserves, including natural gas reserves in the Greater Natural Buttes area in Utah. Exploration and Production Operations Kerr-McGee's exploration and production is engaged in the exploration, development and acquisition of crude oil and natural gas properties. The Company's production efforts are concentrated in the United States Gulf of Mexico, the United States onshore and China. In addition, it explores for oil and gas in the core areas and in hydrocarbon trends worldwide, including the North Slope of Alaska and offshore West Africa, Brazil and Trinidad and Tobago. Kerr-McGee's average daily oil production from continuing operations for 2005 was 109 thousand barrels per day. The number of productive oil and gas wells in which the company had an interest, as of December 31, 2005, includes 1,143 gross or 487 net wells associated with improved recovery projects, and 2,532 gross or 2,436 net wells that have multiple completions but are included as single wells. During 2005, Kerr-McGee continued expanded its development programs in the United States onshore. In 2005, 61% of the Company's natural gas and 32% of its crude oil and condensate were produced from United States onshore areas. Total proved reserves for the United States onshore area in 2005 totaled 582 MMboe or 60% of the Company's worldwide proved reserves. Exploration and production activities in the United States onshore area are segregated into two regions, Rocky Mountain and Southern. The Rocky Mountain operations, located in Colorado, North Dakota, Montana, Utah, and Wyoming, consist primarily of low-risk, high-margin resource plays. The Southern operations are primarily focused in Texas, Louisiana, Oklahoma and New Mexico. Kerr-McGee obtained an interest in the Greater Natural Buttes area, during the year ended December 31, 2004, as the result of the merger with Westport. In 2005, Kerr-McGee operated approximately 940 wells in the Greater Natural Buttes area and had interests in an additional 500 non-operated wells. In support of the production operations in Greater Natural Buttes, Kerr-McGee operates over 600 miles of gas gathering pipeline and 30 gas compressors, totaling 36,000 horsepower. Kerr-McGee obtained an interest in the Wattenberg field area as the result of the merger with HS Resources, Inc. The Wattenberg gas field is located in the DJ Basin in northeast Colorado. Kerr-McGee obtai

Current Quote*
Last: $63.410
Change: -2.040
Book: $Unk
Volume: 160,120

As Of: 04/24 16:44 ET
*Quotes delayed by 20min.

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