Drilling Production 2000 P

08/18/2000 -- Macro e-conomics
There was a common thread running through the various presentations made at one of the first e-commerce conferences held specifically for the oil and gas industry last year in London: definition.
08/17/2000 -- Shell awards EA testing and completion services contract
Shell Petroleum Development Co. of Nigeria Ltd. has awarded a $120 million well testing and completion services contract related to development of EA oil field off Nigeria to Nigerian service company Ciscon. The field, located 90 km south of Warri in shallow water, is expected to cost $1 billion to develop.
08/17/2000 -- Syncrude opens oil sands mine remotely located from upgrader
Syncrude Canada Ltd., Edmonton, opened its new $600 million (Can.) Aurora oil sands mining operation Thursday in the Fort McMurray region of northern Alberta. This is the first oil sands mine to be remotely located from an upgrader, said company officials.
08/16/2000 -- Drilling/Production news briefs, Aug. 16
CanBaikal Resources�Triton Energy�Bergesen DY Offshore�Energy Africa�Imperial Oil�Cairn Energy�Oil & Natural Gas Corp�.Videocon Petroleum�Ravva Oil (Singapore)
08/16/2000 -- Basin Exploration hikes capital budget
Basin Exploration Inc., Denver, is hiking its capital budget by 18% to expand its operations in the Gulf of Mexico, where it has recently deepened one well and participated in drilling five others.
08/16/2000 -- API: Refinery runs hit record 15.9 million b/d in July
The American Petroleum Institute said Wednesday that US refineries processed a record 15.898 million b/d in July. Refining activity was 2.9% higher than a year ago as refineries 'picked up the slack in supplying the nation with petroleum products' by operating at 96% capacity, API said.
08/16/2000 -- Talisman awards Blake contract to UK yard
Talisman Energy UK Ltd., the North Sea E&P arm of Talisman Energy Inc., has awarded Aker Maritime ASA's Aker McNulty yard in Newcastle an extensive contract for the development of the Canadian independent's Blake field and the linked tie-in to the Bluewater Group's Bleo Holm FPSO, currently producing nearby Ross field.
08/14/2000 -- Drilling/Production news briefs, Aug. 14
Mallon Resources � Jicarilla Apache Tribe � Tidewater � Seven Seas Petroleum � Perez Companc � OSCA ... ExxonMobil ... Baker Hughes
08/14/2000 -- Finance/Companies news briefs, Aug. 14
Friede Goldman Halter � Bollinger Shipyards ... Dow Chemical � Alpine Oil Services � Weatherford International ... BP ... IBM ... SAIC ... Ultramar Diamond Shamrock ... Shamrock Logistics
08/14/2000 -- MMS issues study on Gulf of Mexico FPSOs
The US Minerals Management Service has issued a draft environmental impact statement (EIS) on the possible effects of using floating production, storage, and offloading (FPSO) systems at deepwater fields in the US Gulf of Mexico. It concludes that the potential site-specific effects of using FPSOs are essentially the same as with other deepwater development systems.
08/14/2000 -- Statoil puts shoulder to Svale satellite plans
Statoil has put a newly formed project team to work in its northern Norwegian Harstad office sketching out plans to develop the midsize Svale discovery, proven this spring, as a satellite to its nearby Norne floating production vessel.
08/14/2000 -- Market watch, Aug. 14
International energy futures prices dipped Friday as major traders took their profits from last week's rally in a normal safeguard against any bad news over the weekend. But fundamentals remain strong and energy prices are on an upward trend.
08/14/2000 -- BP unit tests Algerian well
Essex Resource Corp., Vancouver, BC, said last week that operator ARCO Ghadames Inc., a unit of BP, has tested the Semhari East-1 appraisal well on the Hassi Bir Rekaiz concession in Algeria.
08/11/2000 -- Oil prices continue to show surprising strength
Oil prices continue to show surprising strength as skepticism builds over added Middle Eastern crude supplies and jitters arise over bogus reports of military tensions in that region.
08/10/2000 -- Maureen refloat plans progress
Norway's Aker Maritime AS has clinched a further �7 million contract connected to Phillips Petroleum UK Ltd.'s decommissioning plans for the Maureen platform in the North Sea. The new deal to tow the giant steel gravity base to the Aker Stord facility, clean its three storage tanks, and carry out a 'thorough inspection' of the platform, builds on a 500 million kroner contract awarded last year to the Norwegian company to engineer the structure's refloating.
08/10/2000 -- EOG's Papa: US gas supply constraint will linger
Elevation of natural gas prices in the US results from supply constraint likely to last several years, says the top executive of a large independent gas producer. Papa told an Independent Petroleum Association of America lunch meeting in Houston Aug. 9 that the inherent decline rate of US gas deliverability is increasing with time, reaching 24%/year in 1998 compared with 14%/year in 1990. That increase, he said, represents '100% of the reason' for gas prices in excess of $4/Mcf this year.
08/09/2000 -- Exploration/Development news briefs, Aug. 9
Noble Affiliates � Samedan Oil Corp. ... Andex Resources � Texoil � Pintail Petroleum � Bechtel Exploration � Abraxas Petroleum � EOG Resources � TransGlobe Energy ... Vintage Petroleum International
08/09/2000 -- EnerMark Income Fund to bid for EBOC Energy
EnerMark Income Fund, Calgary, said it agreed to make a takeover bid through a subsidiary to acquire EBOC Energy Ltd., a private oil and gas producer also based in Calgary. The acquisition would cost EnerMark $155 million (Can.) in cash and assumption of debt.
08/09/2000 -- IEA drops 2000 oil demand estimate; raises supply outlook
The International Energy Agency has revised its forecasts of oil supply and demand for 2000, calling its new demand projection 'conservative' and its supply prediction 'optimistic.' Higher oil prices have boosted investments, especially in the areas of field maintenance, development drilling, and oil field equipment. But, warns IEA, 'It is unlikely this increase can be repeated or is sustainable over the medium term.'
08/09/2000 -- Cool weather damps US summer power use
Cooler summer temperatures for most of the US have minimized system-straining peak electric demand and possibly helped mask a need to expand the US electricity system, the US Energy Information Agency says in its August short-term energy report. Forecaster Dave Costello says projections of growth in demand for electricity have been revised slightly downward to 2.1% in 2000 and 2.45% in 2001.

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Drilling Production 2000 P