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Drilling Production 2000 P

  • 05/30/2000 -- Pertamina, Petronas consider oil project partnership
    Indonesian state oil, gas, and mining company Pertamina is planning to offer Malaysian state firm Petronas entry into an $800 million oil product pipeline project on Java Island, if the Malaysian national oil company is willing to undertake the scheme jointly, according to local reports.
  • 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 -- Finance/Companies news briefs, May 25
    ExxonMobil ... Thyssengas ... RWE Energie ... Maxx Petroleum � Nigeria's National Electric Power Authority � Marubeni Engineering � NYMEX � Providence Energy � Southern Union � Montana Power � Schlumberger Resource Management Services... CellNet Data Systems ... Northern States Power Co. ... Titan Exploration ... Unocal ... Onako ... Rosneft ... Slavneft
  • 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.
  • 05/23/2000 -- UPR, Magnum Hunter confirm East Texas gas find
    Union Pacific Resources Inc., (UPR) Fort Worth, Tex., and Magnum Hunter Resources Inc., Irving, Tex., on Tuesday said a confirmation well extended their Mossy Grove natural gas discovery, located 90 miles north of Houston in Walker and Madison counties, Tex.
  • 05/22/2000 -- Will exploration technology advances offset rapid reserves declines?
    Energy analysts are pessimistic about rapidly depleting oil and gas reserves in the face of rising demand, while explorationists remain confident that new technology will continue to lower costs and find new reserves. At a petroleum conference in Houston Friday, speakers noted that new satellite exploration is uncovering prospective petroleum basins that haven't even been named yet. But the biggest discoveries were made decades ago with much less sophisticated technology.
  • 05/22/2000 -- Gruy Petroleum to install real-time well data collection devices
    Gruy Petroleum Management Co., a subsidiary of Magnum Hunter Resources Inc., Irving, Tex., on Monday said it has formed a strategic alliance and made a capital investment with internet technology company Aurion Technologies Inc., of Dallas. Gruy will use remote monitoring devices on producing oil and gas properties to obtain real-time well data, transmitted over the internet by Aurion. The data will allow personnel to efficiently monitor and control production.
  • 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 -- DOE to fund projects aimed at extending field lives
    In the fourth and final round of a program to help small producers, the US Department of Energy will provide grants to five companies with proposals to extend the productive life of reservoirs. DOE said the five firms have less than 50 employees and lack financial resources for research. They were chosen from 28 proposals.
  • 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 -- Oxy and partners to explore Albania blocks
    Lundin Oil AB says force majeure has been lifted on two of the three blocks in Albania in which it is a partner. Preparations are under way to begin drilling on the Shpiragu prospect, formerly known as Sqepuri, on Block 2 in the fourth quarter.
  • 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.
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