Drilling Production 2000 P

12/29/2000 -- US drilling activity climbs at yearend
US drilling operations ended the year with a burst of activity, despite ice storms that lashed North Texas, Oklahoma and other areas of the Midwest. There were 1,114 rotary rigs working in the US and its waters this week, 27 more than the previous week and up from 771 a year ago.
12/29/2000 -- EIA sees 32% gain in US energy demand by 2020
The US Energy Information Administration says with a growing economy, US energy demand is projected to increase 32% from 1999 to 2020, reaching 127 quadrillion btu. But it said faster or slower economic growth, or use of energy-efficient and renewable energy sources, could change the forecast.
12/29/2000 -- Oil group urges royalty relief for medium-water fields
The Domestic Petroleum Council has urged the US Minerals Management Service to expand its proposed offshore royalty relief rules to provide more aid for marginal Gulf of Mexico fields in 200 to 800 m of water.
12/27/2000 -- North Sea's Captain field begins phase two output
Texaco North Sea UK Co. and the Korea Captain Co. Ltd. Wednesday began production from the second phase (Area B) of their Captain field development in Block 13/22a of the UK North Sea. The $500 million expansion will bring production from 60,000 b/d to 85,000 b/d during 2001
12/26/2000 -- Five oil firms agree to US-UK human rights standard
The US State Department has said five international oil companies have agreed to a code of conduct drafted by the US and UK governments. Agreeing to the pact were Texaco Inc., Chevron Corp., BP, Conoco Inc and Royal Dutch/Shell.
12/26/2000 -- PetroChina plans to boost gas output 7% in 2001
PetroChina Co. Ltd. plans to add 1.06 billion cu m of natural gas production capacity in 2001. That will raise its gas production 7% to 19 billion cu m, accounting for about 70% of China's total. The company's gas production will be further raised to 43.3 billion cu m by 2005.
12/21/2000 -- US land rig count slumps in pre-holiday week
There were 1,087 rotary rigs working in the US and its waters this week, 20 less than last week but up from 797 during the same period a year ago, officials of Baker Hughes Inc. reported Thursday. The number of working rigs usually declines slightly just ahead of Christmas, but winter weather may also have been a factor.
12/21/2000 -- Tyumen to take over four production subsidiaries
Russian company Tyumen Oil Co. plans to absorb its four oil production subsidiaries to make the company more attractive to international capital markets prior to an international bond offering in mid-2001. The company also plans to merge with its refining and marketing subsidiaries, beginning next fall.
12/20/2000 -- Exploration/Development news briefs, Dec. 20
Chevron � Sociedade Nacional de Combustiveis de Angola � Agip Angola � TotalFinaElf-Angola � Petrogal � Danish Oil and Natural Gas Co. � Denerco Oil � LD Energi � RWE-DEA � Ramco Energy � Polish Oil & Gas Co. � FX Energy � Essex Resource � Nostra Terra (Overseas) � PanCanadian Petroleum � and more
12/20/2000 -- Huntsman, Saudi group to study building ethylene oxide derivatives plant
Huntsman Corp., Salt Lake City, Utah, has entered a memorandum of understanding with Ahmad Hamad Al-Gosaibi & Bros. Group of Saudi Arabia to review the feasibility of building a petrochemical manufacturing facility at Al-Jubail, Saudi Arabia. The companies expect to complete the feasibility study by mid-2001.
12/19/2000 -- Four DOE labs to study gas hydrates
The US Department of Energy said that four national laboratories will begin studies of the properties and production potential of gas hydrates. The department said that with growing demand for natural gas, it has decided to accelerate gas hydrate research.
12/19/2000 -- Enterprise gets interest in South Pars phases 6, 7, 8
Enterprise Oil, through its subsidiary Enterprise Middle East, has inked a participation agreement with South Pars operator Petro Pars giving the UK oil company a 20% stake in Phases 6, 7, and 8 of the giant gas field development project off Iran. The deal was set up through the assignment of a proportionate interest in a service contract entered into by Petro Pars and the National Iranian Oil Company in July this year.
12/18/2000 -- IPAA says lack of rigs and crews restrains output
The Independent Petroleum Association of America's supply and demand committee has predicted US gas production will grow 1.5% to 19.01 tcf next year, with most of those new supplies coming from the Gulf of Mexico. IPAA said the number of rigs drilling for gas is as high as it ever has been.
12/18/2000 -- MMS, DOE eye gaps in ultra-deep water technologies
The US Minerals Management Service and the Department of Energy plan to help develop technology for oil and gas production in the ultra-deep waters of the Gulf of Mexico.
12/18/2000 -- TotalFinaElf studying potential Dalia field development
TotalFinaElf SA has launched basic engineering studies for the Dalia project. The field is on Block 17, 135 km off Angola, in 1,300 m of water. Discovered in 1997, Dalia is near the Girassol oil field, which is due on stream in late 2001 with peak production of 200,000 b/d oil. Dalia may have greater production potential than Girassol, said TotalFinaElf.
12/18/2000 -- Analysts: E&P spending to jump more than 19% in 2001
Worldwide exploration and production spending will jump more than 19% next year, Lehman Brothers reported Monday. But unlike this year, when growth in spending was highly skewed towards North American natural gas drilling, the increases planned for 2001 will be more broadly based, officials said.
12/18/2000 -- Offshore rig profitability continues upward trend
Houston-based offshore drilling contractor Global Marine Inc. reports its Summary of Current Offshore Rig Economics (SCORE) for November increased to 35.9, up 3.1% from October. November's SCORE is up 49.5% from the same month a year ago and is down 21.7% from the same month 5 years ago.
12/18/2000 -- Drilling/Production news briefs
Statoil � Wood Group Production Technology � Pride International � Brøvig � BP � Indo-Pacific Energy
12/18/2000 -- Western Oil Sands files for IPO
Western Oil Sands Inc., Calgary, which has a 20% interest in a $3.5 billion (Can.) oil sands project, has filed a final prospectus for an initial public offering of $60 million in shares. The company is a partner in the Athabasca Oil Sands Project, which is expected to produce 150,000 b/d of oil by 2003.
12/15/2000 -- US land drilling increases, Gulf of Mexico activity dips
There were 1,107 rotary rigs working this week, 19 more than the previous week and up sharply from 815 a year ago, Baker Hughes Inc. reported Friday. The latest count included 940 land rigs, 20 more than the previous week, while the number of inland barges was down 1 to 22.

Home

General Interest

Exploration & Development

Drilling & Production

Processing

Transportation

Home

2000

Drilling Production 2000 P