Drilling Production 2000 P

07/03/2000 -- Drilling/Production news briefs, July 3
Australia to give a tax break to the North West Shelf project � Record wells planned in New Zealand � Shell awards subsea contract to Kvaerner � Forcenergy installs platform off Alaska
07/03/2000 -- Finance/Companies news briefs, July 3
Vermilion Resources � Big Sky Resources � Methanex � Sterling Chemicals � BP Amoco Chemicals � Phillips Petroleum � Chevron � Kuwait Petroleum Corp. � Santa Fe International � ENI � Petroleos e Gas de Portugal
07/03/2000 -- Report: Independents replaced 256% of production in 1999
Independent oil and gas companies replaced a robust 256% of production in 1999�the highest reserve replacement figure recorded in the past 5 years�compared to 113% by major oil companies, says Salomon Smith Barney Inc. in a new report.
07/03/2000 -- Key Energy Completes $100 Million Equity Offering
New Jersey-based Key Energy Services Inc., the world's largest well service contractor, closed the $101.5 million sale of 11 million shares of its common stock, including an over-allotment of 1 million shares. That offering, managed by Lehman Brothers Holdings Inc. and Dain Rauscher Wessels Inc., was priced at $9.625/share.
06/30/2000 -- Drilling/Production news briefs, June 30
Global Offshore expands Equatorial Guinea gas-condensate field for CMS Oil & Gas; Meridian Resources places Louisiana oil and gas well on production.
06/30/2000 -- West Epsilon rig to move to Fr�y field
After 6 years of drilling in the Sleipner West natural gas field in the Norwegian North Sea, the Smedvig AS jack up West Epsilon will begin work in another Norwegian field, Fr�y, in the first half of 2001.
06/30/2000 -- Market watch: June 30
Oil futures prices surged Thursday on international markets as strong fundamentals of supply and demand prevailed.
06/30/2000 -- Gulf of Mexico deepwater gathering system on stream
Deepwater Holdings LLC announced Thursday that natural gas production has begun flowing through its new East Breaks Gathering System in the deepwater Gulf of Mexico. This pipeline was installed in water depths ranging from 440 ft to 4,700 ft, which Deepwater Holdings claims makes it the world's deepest gas export pipeline.
06/29/2000 -- Drilling/Production news briefs, June 29
Houston Exploration Co. � Devon Energy � Vastar Resources � Aker Maritime � Burlington Resources � Baker Energy � Husky Oil � A.P. Moller Maersk � Navion � Bluewater Offshore Production Systems ... Petro-Canada
06/29/2000 -- SABIC starts up polyolefin expansions
Saudi Arabian Basic Industries Corp. (SABIC) said Wednesday that test operations have begun at several of its polyolefin expansion projects. SABIC Managing Director and Deputy Chairman Mohammed al Madhi detailed the completed expansions, along with some that are nearly finished, to the Saudi Press Agency earlier this week.
06/29/2000 -- Pride sues two drilling contractors as result of merger
Houston-based Pride International Inc., a potential white knight sought by Canadian drilling contractor Plains Energy Services Ltd. as a counter to an unsolicited takeover by Precision Drilling Corp., has sued both companies for $500 million plus punitive damages after they decided to merge anyway.
06/28/2000 -- Exploration/Development news briefs, June 28
Triton Energy � Energy Africa � Robo Enterprises � AMG Oil � Indo-Pacific Energy � Kerr-McGee � Pendaries Petroleum � TransGlobe Energy ... Vintage Petroleum
06/28/2000 -- Statoil outlines development plan for Glitne field
Norway's Statoil AS today submitted to the Norwegian Ministry of Petroleum and Energy a plan for the development and operation of Glitne oil field, near Sleipner field on Block 15/5 in the Norwegian North Sea. The plan calls for drilling to begin Oct. 1 and the field to come on stream in the third quarter 2001.
06/27/2000 -- Drilling/Production news briefs, June 27
Smedvig � Keppel Fels � Pride Foramer � Ocean Rig � Sonangol Exploration & Production � Hurricane Hydrocarbons � China National Petroleum Co. � Mobil Oil Canada � Chevron Canada Resources � Petro-Canada � Canada Hibernia Holding � Murphy Oil � Norsk Hydro
06/26/2000 -- ExxonMobil commissions Zafiro field platform
ExxonMobil Corp. announced last week that its new Jade platform in Zafiro field off Equatorial Guinea has started production from its first well at a rate of more than 12,000 b/d. The platform is about 35 miles offshore on Block B.
06/26/2000 -- OPEC's compromise deal: Will it work?
OPEC has effected a compromise between its price hawks and doves that won't put that much more crude oil into the market in the near term but probably will take some heat out of oil prices eventually.
06/23/2000 -- Russia plans offshore exploration program, seeks investment
Russia is gearing up for an intensive offshore exploration program to offset a sharp decline in its onshore production of oil and gas and to supply a growing demand for energy in the future. Russian officials are looking to outside oil companies to finance most of that exploration through production-sharing agreements. They claim Russia's continental shelf contains huge oil and gas reserves.
06/22/2000 -- Electric Power news briefs, June 22
TECO ... BGE ... Dynegy .... ALSTOM ESCA ... APB Energy ... Chapel Hill Brokers ... RedMeteor.com ... Electricit�e France ...Gaz de France ... TransCanada PipeLines ... Arizona Public Service ... Entergy Gulf States
06/22/2000 -- Baker Hughes: High prices, demand revive drilling
Rising demand and prices for oil and natural gas in the US and Canada will help the oil field service and supply sector continue its revitalization, said Gary R. Flaharty, director of investor relations for Baker Hughes Inc., Wednesday at the Banc of America Securities energy conference in Houston.
06/21/2000 -- OPEC agrees to 708,000 b/d output hike
The Organization of Petroleum Exporting Countries quickly agreed Wednesday to increase its oil production another 3%, or 708,000 b/d, to a total 25.4 million b/d, effective July 1. That increase apparently was a mid-point compromise between a smaller hike of 500,000 b/d, preferred by Venezuela and Iran, and a bigger bump of 900,000 b/d, which Saudi Arabia and some other members reportedly favored.

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Drilling Production 2000 P