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Drilling Production 2000 P15

  • 05/30/2000 -- Production testing begins at East Lost Hills gas project
    Operator Berkley Petroleum Corp., Calgary, has begun production tests of the East Lost Hills No. 1 well targeting deep gas in Southern California's San Joaquin basin. In early tests of a test program that will continue for several weeks, calculated gas flow rates increased to 12 MMcfd from 4 MMcfd during 'highly restricted' initial cleanup flow, says Berkley.
  • 05/25/2000 -- Price outlook remains bullish as natural gas climbs past $4
    Analysts have been anticipating premium natural gas prices this summer, but the Henry Hub June futures contract on the New York Mercantile Exchange jumped ahead of schedule by closing above $4/MMbtu Wednesday. The contract settled at $4.073 and was still trading well past $4 the following day�close to $4.10/MMbtu on Thursday morning but approaching $4.20 in the early afternoon.
  • 05/24/2000 -- Drilling/Production news briefs, May 25
    Phillips awards Jade contract; Pride deploys Pride Angola drillship to drill for Elf off Angola.
  • 05/24/2000 -- Sakhalin-I drilling set to resume
    The Russian Natural Resources Ministry has approved a request for permission to resume drilling work at the Sakhalin-I project. The Sakhalin I consortium plans to begin drilling a new appraisal well, Chaivo-6, in July, ministry officials said.
  • 05/22/2000 -- Normandy IGCC project takes step forward
    Partners in Projet IGCC Normandie�a gasification project being developed by TotalFinaElf SA, Electricit�e France, and Texaco Inc.�have selected UOP LLC, Des Plaines, Ill., to supply the acid gas removal process for the gasification plant they will build in France's Normandy region. UOP will use an innovative design approach that improves environmental performance while optimizing plant operations.
  • 05/21/2000 -- Price outlook for natural gas gets brighter
    Already-high US natural gas prices are expected to rise further as a result of tightening supplies. Two financial analysts gave their predictions for the gas market in separate reports last week. Salomon Smith Barney says it is raising its full-year 2000 price forecast for natural gas to $3.25/MMbtu from $2.78/MMbtu, and a Lehman Brothers Co. official told an Independent Petroleum Association of America meeting that tighter supplies will push US gas prices to about $3.50/Mcf this winter.
  • 05/21/2000 -- IPAA cautiously hopeful on tax legislation for US producers
    The Independent Petroleum Association of America, meeting in San Francisco late last week, was told Friday that election-year politics in the US could provide an opportunity this summer for oil tax legislation in Congress. IPAA Chairman Jerry Jordan noted that several pending bills would give US producers tax relief. 'I'm not optimistic, because everybody [in Congress] is thinking about the election. But if we don't push it now, we'll have less chance in the future,' said Jordan.
  • 05/19/2000 -- Finance/Companies news briefs, May 19
    Woodside Energy Ltd. ... Santos Offshore Pty. Ltd. ... Shell Co. of Australia ... Petrobras � Ranger Oil Ltd. � Petrobank Energy Resources Ltd. � Canadian 88 Energy Corp. � The American Energy Group Ltd. � Northern Lights Energy Ltd.
  • 05/19/2000 -- General interest news briefs, May 19
    US Department of Energy ... Enron Energy Services � Kawasaki Motors Corp. USA � R&B Falcon � Williams � Petro-Canada
  • 05/19/2000 -- US DOE helps two tribes develop oil, gas
    The US Energy Department will spend $695,000 to help the Jicarilla Apache Tribe in New Mexico and the Ute Indian Tribe in Utah develop oil and gas resources. Energy Sec. Bill Richardson said, 'Our goal is to provide tools for Native Americans to develop and manage their mineral resources by providing them access to the latest technological innovations.'
  • 05/19/2000 -- Research group sues to keep Texas from dismantling platform
    Gulf Marine Institute of Technology, a nonprofit research group, went to court Thursday to stop the Texas General Land Office (GLO) from dismantling a former oil and gas production platform complex in the Gulf of Mexico that the institute hopes to convert into the first offshore fish farm in US waters. Institute officials claim the project was approved 2 years ago by former Texas Land Commissioner Garry Mauro. But current state officials say an official agreement was never signed.
  • 05/17/2000 -- API says April gasoline production at record level
    API's April supply-demand statistics show increased US gasoline production, reduced gasoline pump prices, lower crude oil production, and reduced petroleum stock levels.
  • 05/16/2000 -- Global Marine SCORE shows improvement in rig market
    Global Marine Inc. on Monday said that its worldwide summary of current offshore rig economics (SCORE) was up 1.6% for April to 27.5% vs. the 27.1% recorded for March. The level of drilling rig activity is still down compared with years past, however. The April 2000 SCORE is down 6.3% from April 1999 and 27.8% from the same time 5 years ago. Still, the rise reflects continued improvement in all major markets, said Global Marine Chairman Bob Rose.
  • 05/16/2000 -- Market Watch, May 16
    Oil futures prices continued to climb, with NYMEX crude again nearing $30/bbl as OPEC officials indicate no plans to increase production above current 'satisfactory' levels. OPEC members gave a cold shoulder to US officials pushing for the organization to again increase production.
  • 05/16/2000 -- Japan seeks increased Iran crude supplies
    Japan and the US could be headed for a showdown over Japan�s plan to improve economic ties with Iran. Japan's Ministry of International Trade and Industry is expecting to shortly open talks with Iran to procure more stable crude oil supplies. A ministry official told OGJ the specific agenda has yet to be decided, but the focus of the talks would be on crude supplies and other energy-related topics.
  • 05/15/2000 -- Drilling/Production news briefs, May 15
    Soekor E&P � Energy Africa � Pluspetrol Peru Corp. � Occidental Peruana Inc.
  • 05/15/2000 -- Finance/Companies news briefs, May 15
    Syncrude Canada Ltd. ... New York Mercantile Exchange
  • 05/12/2000 -- Baker Hughes: US rig count essentially flat
    US drilling activity remained relatively flat, with 830 rotary rigs working during the week ended May 12, down 3 from the previous week but up strongly from 507 during the same period a year ago, Baker Hughes Inc. officials reported Friday. Meanwhile, drilling activity in Canada continued to improve, following the seasonal slowdown from the spring thaw.
  • 05/12/2000 -- Finance/Companies news briefs�May 12
    Gaz de France � Precision Drilling Corp. � Plains Energy Services Ltd. � Rio Alto Exploration Ltd. � Renata Resources Inc. � Petrobank Energy and Resources Ltd. � Ranger Oil Ltd. � Gulf Canada Resources Inc. � Petrovera Resources � PanCanadian Petroleum Ltd. � Australian Gas Light Co. � Australian Pipeline Trust � Dongguan Gas Corp. � Foshan Gas Corp. � and more
    Sen. Frank Murkowski (R-Alas.) wants to do several right things for the energy business. But the reason on which he bases his initiative will eventually hurt the business.
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