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Drilling Production 2000 P11

  • 07/24/2000 -- Alberta oilsands project approved; another unveiled
    Oilsands activity in Northern Alberta continues to increase as a planned project received regulatory approval last week and new plans were unveiled for another project. Petro-Canada, Calgary, received approval for the McKay River oilsands project in northern Alberta. Meanwhile, OPTI Canada Inc., a unit of the Israeli-US engineering and manufacturing firm Ormat Industries Ltd., announced plans for a $450 million project.
  • 07/24/2000 -- Phillips approves Bohai Bay development plan
    Phillips Petroleum Co. said Thursday it will begin the first development phase of Peng Lai (PL) 19-3 field on Block 11/05 in China's Bohai Bay. Phillips noted that it has made two new oil discoveries on the block, bringing its total number of finds there to six. 'With six discoveries and several large additional prospects identified, we're extremely optimistic about the potential of this block,' said Bill Berry, vice-president of the Eurasia exploration and production division.
  • 07/24/2000 -- Executive Q&A: Offshore Drilling Outlook
    OGJ Online Senior Oil & Gas Writer Sam Fletcher interviewed C.R. "Bob" Palmer, chairman and CEO of Rowan Cos. Inc., on July 11 at the company's Houston headquarters.
  • 07/24/2000 -- Drilling/Production news briefs, July 24
    American Petroleum Institute ... Syncrude Canada ... TotalFinaElf ... National Petroleum Construction Co. of Abu Dhabi ... Chiles Offshore ... Perforadora Central
  • 07/24/2000 -- Exploration/Development news briefs, July 24
    Parallel Petroleum ... Pado Oil & Chemical (Austria) ... Turkmenneft ... Gulf Canada Resources
  • 07/24/2000 -- Gulf of Mexico rig utilization hits 2-year high
    Utilization of mobile offshore rigs hit a 2-year high in the Gulf of Mexico, officials at Houston-based Offshore Data Services reported Friday. Meanwhile, in Washington, DC, Thursday, the US Minerals Management Service (MMS) reported a record 34 rigs working the deep waters of the gulf, in depths of 1,000 ft or more.
  • 07/21/2000 -- NGSA says US producers will meet winter gas needs
    R. Skip Horvath, Natural Gas Supply Association (NGSA) president, told a Senate agriculture subcommittee Thursday that US producers are responding to higher natural gas prices with increased drilling. Horvath said, 'We are confident that natural gas [supplies] will meet winter market demand.'
  • 07/21/2000 -- Rig activity, demand keep gas prices strong
    Demand for natural gas continues strong with gas in storage still roughly 20% below year ago levels, based on injection figures for the week ended July 14. But weather-related issues could make the next 2 weeks injection rates appear strong, compared to 1999 at this time, experts say.
  • 07/20/2000 -- AGA warns of higher natural gas prices
    The American Gas Association reiterated Wednesday that, although natural gas prices are likely to be higher this winter, supplies will be adequate. AGA Pres. David Parker said, 'We're trying to alert consumers that if we have normally cold weather, their natural gas prices could be higher this winter.'
  • 07/19/2000 -- Drilling/Production news briefs, July 19
    BP Amoco allows Diamond Offshore to postpone delivery of Ocean Confidence; Transocean Sedco Forex's Discoverer Enterprise resumes work for BP Amoco.
  • 07/19/2000 -- Lukman: OPEC poised to act on prices
    Rilwanu Lukman, secretary general of the Organization of Petroleum Exporting Countries, today underlined that the organization stands poised to 'stabilize the oil market' by adjusting its collective output to offset rates seen to be 'too high or too low' but refused to be drawn on whether such a move was immediately warranted by the current level of oil prices.
  • 07/19/2000 -- Brigantine field development gets green light
    The UK government today gave the go-ahead to development plans for Shell Expro�s Brigantine gas fields in the southern North Sea. Shell aims to bring the three-field 'cluster'�estimated to hold recoverable gas reserves of 280 bcf�into production using a pair of its low-cost �Trident� design platforms at a cost of �100 million.
  • 07/19/2000 -- Mitchell succeeds with light sand fracing in Barnett shale
    Using the new light sand fracturing technology to enhance production at lower cost, Mitchell Energy & Development Corp. has accelerated development of the Newark East Barnett shale field in North Texas, doubling gas production to 172 MMcfd in just over a year. With the technology, Mitchell has added Upper Barnett production to about 400 existing wells, compared with only 40 that were producing from the formation less than a year ago as a result of light sand fracing (OGJ, Sept. 27, 1999, p. 89).
  • 07/18/2000 -- Enterprise buys R&B Falcon's Gulf of Mexico E&P properties
    Enterprise Oil PLC, London, has completed the acquisition of the Gulf of Mexico E&P properties of R&B Falcon Corp. units Reading & Bates Development Co. and R&B Falcon Subsea Development Inc. for $127.3 million in cash. Enterprise gains a 50% working interest in the Boomvang field development; a 100% working interest in Gyrfalcon field; and, subject to final closing, interests in 19 other Gulf of Mexico deepwater exploration blocks.
  • 07/18/2000 -- BHP's Atlantis appraisal yields 300-ft pay zone
    BHP Petroleum Pty. Ltd. has drilled a successful appraisal of its 1998 Atlantis oil discovery in the Atwater Foldbelt region of the ultradeepwater US Gulf of Mexico. The company announced this week that the well, Atlantis-2, had found a significant oil zone in Miocene sands with net pay some 300 ft thick.
  • 07/17/2000 -- US senators compromise on conservation funding bill
    US Sens. Frank Murkowski (R-Alas.) and Jeff Bingaman (D-NM) said Friday they have agreed on a Conservation and Reinvestment Act (CARA), ensuring the Senate energy committee will approve the bill at a markup July 18-19. The bill would earmark $3 billion/year of federal offshore oil revenues, which now go into the general fund, to finance various government conservation programs.
  • 07/17/2000 -- Huldra platform jacket to be installed this week
    The jacket for Norwegian firm Statoil AS's Huldra platform in the Norwegian North Sea is scheduled for installation this week following completion of its construction at the Aker Verdal fabrication yard north of Trondheim, Norway. First condensate deliveries are slated for summer 2001.
  • 07/17/2000 -- AGA warns winter gas prices will jump
    The American Gas Association warns that US consumers could face significantly higher natural gas prices this winter. The price of natural gas in the US spot and futures markets has increased significantly, and because some supplies are being stored for winter use, prices will be higher, says AGA. It noted several factors behind the higher prices, including low wellhead prices in 1998 and into 1999 and a rig count that has only recently rebounded.
  • 07/14/2000 -- EXECUTIVE Q&A: Outlook for independents
    OGJ Energy Policies Editor Patrick Crow interviewed Barry Russell, the new Independent Petroleum Association of America president, on July 6 in Washington, DC. Russell outlined the challenges facing his association.
  • 07/14/2000 -- Are high oil prices driving the bull market in natural gas, too?
    Are high oil prices driving the bull run in natural gas prices? Part 1 of a 3-part series on the US natural gas market outlook.
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