Drilling Production 2000 P

06/21/2000 -- Market watch, June 21
Unconfirmed rumors that OPEC ministers might increase production only half as much as previously speculated triggered a strong rebound in world oil futures prices Tuesday.
06/21/2000 -- Canadian Natural seeks partner for oilsands project
Canadian Natural Resources Ltd. (CNRL), Calgary, says it is in talks with two groups as part of its quest for a 50% joint venture partner to develop a $6.5 billion (Can.) oilsands project in northern Alberta. CNRL Chairman Allan Markin said the company is looking for a partner with experience in upgrading and marketing. He said CNRL would like to work with a partner with an existing upgrader because the potential to bring the project on stream is better.
06/21/2000 -- Finance/Companies news briefs, June 21
Seacor Smit � Chiles Offshore � Tartan Energy � Albatross Oil & Gas � McDermott International � Babcock & Wilcox International Investments � Ansaldo Volund Group .... Duke Energy Field Services � TransCanada Midstream ... PEPEX ... Unocal ... Northrock Resources ... Petro-Canada ... Ventus Energy Ltd. ... Edge Energy Inc.
06/20/2000 -- Azerbaijan approves onshore Padar PSC
Valekh Aleskerov, head of the foreign investment department at the State Oil Co. of Azerbaijan Republic, said recently that the Milli Majlis, the Azerbaijani Parliament, has approved the production-sharing agreement (PSA) for the Padar concession. Aleskerov noted that the Padar PSA is Azerbaijan's first onshore exploration contract. The concession, about 60 miles southwest of Baku in the Kura River basin, covers about 410 sq miles.
06/20/2000 -- Key Energy to spend $25 million on rig upgrades
With demand for natural gas rising and its backlog of gas-related drilling, completion, and workover services growing, well service firm Key Energy Services Inc., East Brunswick, NJ, said Monday it will refurbish 50-60 workover and completion rigs. The firm has scheduled about $25 million worth of rig work for 2001, aimed at serving the onshore natural gas regions of the US, Argentina, and Canada.
06/20/2000 -- Electric Power news briefs, June 20
AES Corp. ... Conectiv ... Carolina Power & Light ... Con Edison ... Westinghouse Electric Co. .... BNFL PLC ... CMS Energy Corp. ... Michigan Public Service Commission
06/20/2000 -- Latest oil price cycle offers lessons, insights
The peaks and valleys seen in oil prices the past 4 years offer insight into lessons learned in the oil price downturn of 1997-98 and future demand trends in the US market, says a senior economist with the Federal Reserve Bank in Dallas.
06/20/2000 -- Rodr�ez: OPEC faces new challenges in changing oil market
The formation of the Organization of Petroleum Exporting Countries in 1960 was one of the greatest revolutionary events of the 20th Century, but the organization today is faced with a series of new challenges, says Venezuelan Minister of Energy and Mines Al�odr�ez Araque. Speaking in Caracas a few days before the upcoming OPEC ministerial meeting, which begins Wednesday in Vienna, the minister expressed his views on the past, present, and future of the organization.
06/19/2000 -- Husky Oil, Renaissance Energy announce merger
Husky Oil Ltd. and Renaissance Energy Ltd., both of Calgary, jointly announced on Monday that they've agreed to merge. The new company, Husky Energy Inc., will be Canada's second largest producer of oil and natural gas and its fourth largest downstream retailer.
06/19/2000 -- Norsk Hydro rig resumes operation
The drilling rig Bideford Dolphin has resumed operation at Vigdis field in the Norwegian North Sea, and oil production of about 280,000 b/d from Snorre and Vidgdis fields is back on line, Norsk Hydro AS reported Monday.
06/19/2000 -- Conoco to make major UK asset purchase from Norsk Hydro
In a move that will significantly bolster its UK continental shelf oil and gas interests, Conoco Inc.'s UK subsidiary has agreed to acquire the assets of Saga UK Ltd. from Norsk Hydro AS for $540 million. The portfolio includes producing fields Britannia, Alba, and Gryphon and several exploration licenses that Norsk Hydro acquired through its purchase of Saga Petroleum ASA.
06/18/2000 -- Dominion announces confirmation of Devils Tower find
Dominion Exploration & Production Inc., New Orleans, on Friday said a second well confirmed commercial quantities of hydrocarbons at its previously announced Devils Tower discovery on Mississippi Canyon Block 773, about 140 miles southeast of New Orleans.
06/16/2000 -- Norway to raise oil production?
With crude oil prices trading above $32/bbl, the Norwegian government has indicated that it will decide 'in the coming days' whether or not to scrap its current curb on oil output, reports the OPEC News Agency. Oil production of about 280,000 b/d remained idle Thursday at Snorre and Vigdis fields, said Norsk Hydro AS.
06/16/2000 -- Market watch, June 16
Energy futures prices closed mixed in trading on the New York Mercantile Exchange (NYMEX) Thursday. Unleaded gasoline prices continued their upward march. Complex factors are contributing to high gasoline pump prices, says Texaco Inc. CEO Peter I. Bijur.
06/15/2000 -- WPC: Technology unlocking unconventional hydrocarbon resources
New technology is unlocking additional unconventional hydrocarbon resources around the globe, from northern Alberta to Australia and Venezuela�s Orinoco Belt. Speakers at the World Petroleum Congress (WPC) in Calgary Wednesday stressed the role of technology in a variety of large-scale projects.
06/15/2000 -- Drilling-production news briefs, June 15
Sable Offshore Energy Project's Venture platform shut in; Noble, INA form JV to operate jack up.
06/15/2000 -- Helmerich & Payne orders eight more land rigs
Helmerich & Payne Inc., Tulsa, reported Wednesday it has ordered four new land rigs and exercised an option to order four additional land rigs, bringing to 12 the number of rigs the company has ordered since March. The 12 new, highly mobile, 8,000-18,000 ft TD capacity, silicon-controlled rectifier electric rigs will use a design developed and tested by H&P over the past 2 years.
06/15/2000 -- MMS publishes deepwater Gulf of Mexico environmental assessment
The US Minerals Management Service has published an environmental assessment of the potential effects of deepwater Gulf of Mexico exploration, development, and production operations. The document is intended to be a planning tool to help envision the level of National Environmental Policy Act review that will be required for future deepwater work. MMS says most deepwater operations are substantially the same as those in shallow water and that no environmental impact statement is needed.
06/14/2000 -- Exploration/Development news briefs, June 14
Cabot Oil & Gas � Talisman Energy � Summit North Sea Oil � Isramco � BG International ... Kerr-McGee ... Geocan Energy ... Unigeo AS ... Ceska Naftarska Spolecnost SRO ... Nippon Mitsubishi Oil
06/13/2000 -- WPC: Canada's energy supplies still going strong
Despite a history of more than 140 years in the petroleum industry, Canada is still touting its fossil fuel reserves and energy-friendliness. In Alberta in particular, it is not a sin for energy firms to make a profit or get ahead, says Steve West who recently left his post as the province's energy minister to become provincial treasurer. West was one of several speakers who praised the energy record and prospects of Alberta and Canada at the World Petroleum Congress Monday.

Home

General Interest

Exploration & Development

Drilling & Production

Processing

Transportation

Home

2000

Drilling Production 2000 P