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Drilling Production 2000 P4

  • 11/13/2000 -- OPEC now concerned about oil overproduction
    The Organization of Petroleum Exporting Countries has deferred decision on any further crude oil production increases until its January meeting. The 11-nation organization met on the weekend to discuss changes to production levels might steady the oil price within the $22-$28/bbl target range.
  • 11/10/2000 -- Seismic activity now lags drilling rigs, analysts say
    Improved seismic crew efficiencies and a growing backlog of drillable prospects has converted the seismic business from a leading indicator to a lagging result of US drilling activity, say analysts with Raymond James and Associates Inc.
  • 11/10/2000 -- Processing news briefs, Nov. 10
    Jilin Chemical Industry Corp. � Phillips Petroleum � UOP � Intercontinental Quimica � Washington Group International � Ultramar Diamond Shamrock � Syncrude Canada
  • 11/09/2000 -- UAE offers to open tap further
    On the eve of an Organization of Petroleum Exporting Countries meeting, United Arab Emirates energy Minister Obaid Bin Saif Al-Nasseri said his country could raise its oil output further, in line with 'market conditions. He did not disclose the UAE's excess capacity.
  • 11/09/2000 -- EIA says drilling will boost gas supply in 2001
    Higher US drilling rates have begun to boost natural gas supply, the US Energy Information Administration says in its November short-term energy outlook. The government agency revised its estimates for 2001 production growth to about 350 bcf, up from 240 bcf in previous outlooks. But government forecasters say this winter's gas prices will still be about 90% higher than last winter. The EIA also revised upward its estimate of 1999 US electricity output by 1%, resulting in a 3% growth rate.
  • 11/08/2000 -- Statoil foresees 1 billion kroner savings a year with well efficiency program
    Norwegian oil and gas giant Statoil has set the ball rolling on a subsea well maintenance initiative that aims to yield yearly savings of as much as 1 billion kroner for 9 fields off Norway. Eighteen companies have signed up for the so-called 'efficient well intervention program' which will cover Statoil's Statfjord, Gullfaks, Åsgard, Norne, and Heidrun fields, as well as the Tordis, Vigdis, and Borg developments operated by Norsk Hydro.
  • 11/07/2000 -- EDC awards contract for work in Bohai Bay
    Energy Development Corp. China Inc., an indirectly wholly owned subsidiary of Noble Affiliates Inc., Houston, has selected Houston-based Paragon Engineering Services Inc. to assist it in developing the Cheng Dao Xi Block A field in the southern half of China's Bohai Bay, Paragon said Monday.
  • 11/03/2000 -- EXECUTIVE Q&A: Joseph A. Reeves and Michael J. Mayell
    In 1981, Joseph A. Reeves Jr. and Michael J. Mayell became partners and formed Texas Meridian Resources Inc., an independent oil and gas producer that was renamed Meridian Resource Corp. in 1997. Reeves, Meridian's chairman, and Mayell, its president, discussed the company and its future in a Nov. 3 interview with Sam Fletcher, senior oil and gas writer for OGJ Online.
  • 11/03/2000 -- DOE to fund seven environmental compliance projects
    The US Department of Energy will provide $4.4 million to partially fund seven projects to improve the environmental compliance of oil and natural gas operations at lower cost. Sponsors will contribute $2.3 million. Exact funding levels will be determined during contract negotiations.
  • 11/02/2000 -- NEB says Canadian synthetic crude production could triple
    The National Energy Board reports that the volume of synthetic crude oil and bitumen produced in Canada will nearly triple within a decade if all of the projects currently underway or planned are completed. NEB said by 2010 the industry would produce about 1.9 million b/d from oilsands deposits in northern Alberta and Saskatchewan.
  • 11/02/2000 -- December vote expected on Mexico electricity reform measure
    With Mexico's electricity sector at a crossroads, President-elect Vincente Fox is expected to submit an electricity sector reform bill to the Mexican Congress before he takes office next month. A vote on the legislation is expected shortly after his Dec. 1 inauguration. Without new supplies, electricity shortfalls resulting in nationwide blackouts are predicted within the next 2 years, says the US Energy Information Administration.
  • 11/01/2000 -- Statoil presses on with Norwegian Sea wildcats
    Oil and gas giant Statoil Wednesday reported it was pressing ahead with a program of drilling in the Falk structure near its Norne development in the Norwegian Sea after having spudded a duster in the Nordland VI area. Via the new well, 6608/11-2, Statoil hopes to firm up a connection between the unexplored Falk area and its earlier Svale discovery.
  • 10/31/2000 -- China approves Noble Affiliates' Bohai Bay development
    The Chinese government has given final approval to Energy Development Corp. China Inc. to develop the Cheng Dao Xi Block A field in southern Bohai Bay, said Energy Development parent company Noble Affiliates Inc. First production from the field is expected in the second quarter 2002.
  • 10/31/2000 -- Northern Endeavour resumes production
    Following safety and integrity checks, oil production resumed aboard the Northern Endeavour floating production, storage, and offloading vessel, Woodside Energy Ltd. of Australia reported Monday. The Northern Endeavour produces oil from the Laminaria and Corallina oil fields in AC/L5 in the Timor Sea off Australia.
  • 10/31/2000 -- Market watch, Oct. 31
    Activity was mixed on international energy futures markets Monday, in the wake of the decision by the Organization of Petroleum Exporting Countries to increase oil production for the fourth time this year.
  • 10/31/2000 -- Nabors Drilling head: Many idle rigs available
    The contract drilling industry can put more idle rigs to work in the lower 48 US states than many imagine, the head of the biggest land drilling contractor said Saturday at the close of the annual meeting of the Independent Petroleum Association of America in San Antonio, Tex.
  • 10/30/2000 -- BP, Repsol, others award contracts to Coflexip Stena Offshore
    BP, Repsol-YPF SA, Coparex BV, and the Iranian Offshore Oil Co. have awarded several engineering and supply-service contracts to subsidiaries of Coflexip Stena Offshore Group over the last few months, that company reported Monday.
  • 10/30/2000 -- UK North Sea operations green slightly
    Companies producing oil and gas in the UK North Sea are continuing to slowly improve their collective environmental performance, according to a new report from the UK Offshore Operators' Association. The report assessed the 'overall environmental performance' of 30 oil companies operating on the UK Continental Shelf.
  • 10/30/2000 -- Market watch, Oct. 30
    Another production hike by the Organization of Petroleum Exporting Countries, amid mild weather, is likely to continue pushing back oil and natural gas prices, industry analysts said Monday. OPEC's move for an immediate production increase surprised traders Friday, triggering a heavy sell-off that sent energy futures tumbling.
  • 10/27/2000 -- Global oil's faithful servant
    So fundamental has the North Sea industry's contribution been to Europe's oil and gas supply-and economies-over the last 30 years, that one can become blinkered to the broader significance of hydrocarbons being produced in the waters off more than 130 countries worldwide.
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