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Drilling Production 2000 P8

  • 09/06/2000 -- Suncor puts Australian oil shale project on hold
    Suncor Energy Inc., Calgary, announced it will spend $13-$22 million (Can.) as its share of a project to resolve operational issues at its a $250 million Stuart joint venture oil shale demonstration project in Australia. The project will be put on hold until concerns about environmental and social impacts are addressed, said Suncor. In addition, the company agreed to an after-tax writedown of $80 million (Can.) on the project, reflecting increased costs and delayed oil production.
  • 09/06/2000 -- Cost-cutting technology to tap 'small but many opportunities' in UK North Sea
    Shell Expro Managing Director Malcolm Brinded has followed up his welcome recent announcement of the oil company's enlarged $1.2 billion capital expenditure program for the UK sector of the North Sea with a confident vision of a domestic offshore oil industry prolonging its productive life through new technologies and further cost-cutting.
  • 09/06/2000 -- API urges home heating oil users to fill tanks
    The American Petroleum Institute has urged New England heating oil consumers and suppliers to refill storage tanks before the winter heating season begins. API Policy Analysis and Statistics Director John Felmy said, 'We realize that fuel prices are higher than last year and there may be an inclination on the part of homeowners to wait until heating oil is really needed to fill up.' But, he said, the delivery system could be strained if homeowners and suppliers wait until the first cold snap.
  • 09/06/2000 -- Venezuelan minister proposes oil price information campaign
    Venezuelan Energy and Mines Minister Al�odr�ez Araque told Venezuela's El Nacional newspaper that, during the next Organization of Petroleum Exporting Countries' ministerial conference, which starts Sunday, he will propose the launch of a worldwide information campaign aimed at explaining the real issues behind oil prices.
  • 09/04/2000 -- Group urges funding increase for US low-income heating program
    Warning that US natural gas prices could further increase this winter, five senior executives with the Natural Gas Council urged President Clinton and the chairs of the US House of Representatives and Senate Appropriations Committee to increase funding for the Low-Income Home Energy Assistance Program (LIHEAP). They also asked Clinton to consider releasing emergency funds earlier in the winter season for low-income households hit by large gas bills.
  • 09/04/2000 -- Coplex announces Santos Basin farm-in
    Naftex Energy Corp. subsidiary Coplex Petroleo do Brasil Ltda. and two other companies have entered a farmout agreement with Petroleo Brasileiro SA that will give them a combined 65% working interest in Block BS-3 in the Santos Basin off Brazil's southeast coast.
  • 09/04/2000 -- Exploration/Development briefs, Sept. 4
    Sibneft � Ocean Energy � Kerr-McGee Oil & Gas � Cal Dive International � Enterprise Oil � Esenjay Exploration
  • 09/04/2000 -- Processing news briefs, Sept. 4
    Ultramar Diamond Shamrock � Tosco � Syncrude Canada � GE Plastics � Jacobs Engineering � Sargeant Bulktainers � American International Petroleum Corp. ... Sunoco ... Syntroleum
  • 09/04/2000 -- Shell spend hike raises North Sea sights but 'no new boom'
    The UK North Sea's slow-rolling recovery from the lowest activity levels in its history was today given a further shot in the arm by news from Shell Exploration & Production PLC that it plans to inject some $1.2 billion in to as many as half a dozen new developments in the province over the coming year. On top of an increased capital outlay, the oil major added it would be expanding investment in its exploration drilling and seismic programs by as much as $300 million over the next 5 years.
  • 09/01/2000 -- IRANIAN UNREST STIRS SPECTER OF OIL SUPPLY JOLT
    In their anxiety over the supply and price of crude oil, market observers may be watching the wrong side of the Persian Gulf.
  • 09/01/2000 -- Heat wave heats up natural gas prices to record high
    It's hard to tell what's hotter right now: the weather in the US Southwest and South Central states, the country's natural gas drilling rig activity, or natural gas futures prices. All three categories are marking record highs this week.
  • 08/31/2000 -- Saudi Arabia calls for 'appropriate increase' in OPEC oil output
    Saudi Arabia has called for an 'appropriate increase' in oil production from the Organization of Petroleum Exporting Countries in order to restore equilibrium to the international oil market and re-establish price stability. The call was made in a statement issued Wednesday at the end of a meeting of the kingdom's Higher Council for Petroleum and Minerals, chaired by King Fahd bin Abdulaziz al-Saud, the Saudi Press Agency reported.
  • 08/31/2000 -- Triton spuds Ceiba-6 well, begins completion of Ceiba-2
    Triton Energy Ltd., Dallas, said Wednesday that it has spudded the Ceiba-6 well off Equatorial Guinea, and that Global Marine Inc.'s R.F. Bauer drillship, a Sedco-700 semisubmersible rig, started completion of the Ceiba-2 well this week after completing Ceiba-4. Triton plans to drill up to six exploration wells after Ceiba-6.
  • 08/30/2000 -- Texas independent declares Moroccan oil-gas discovery
    Skidmore Energy Inc., Salado, Tex., said its Moroccan affiliate Lone Star Energy drilled a discovery well on Block 3 of the Talsinnt Permit in the High Plateau basin. The SBK-1 well on the Sidi Belkacem prospect 'confirms the petroleum system and the potential of the Triassic and Jurassic age sediments on the northern flank of the Atlas Mountains,' said geologist and Skidmore Pres. John Sobehrad.
  • 08/28/2000 -- PanCanadian to acquire Montana Power's gas, oil interests
    PanCanadian Petroleum Ltd., Calgary, said Monday it plans to purchase the upstream, midstream, and marketing divisions of Montana Power Co., Butte, Mont., for $475 million (US). Montana Power will use the proceeds from the sale to expand Touch America, its national fiber-optic and wireless broadband telecommunications subsidiary, said Robert P. Gannon, Montana Power's chairman and CEO.
  • 08/28/2000 -- BHP reveals additional pay zone for Atlantis appraiser
    Broken Hill Proprietary Co. Ltd. (BHP), Melbourne, on Monday revealed that the Atlantis-2 appraisal well in the US Gulf of Mexico found a further 200 ft of net oil pay, in addition to the oil-bearing Miocene sands reported in July (OGJ Online, July 18, 2000). This additional zone brings the total net pay to over 500 ft.
  • 08/28/2000 -- PanCanadian to acquire upstream, midstream assets of Montana Power
    PanCanadian Petroleum Ltd., Calgary, said Monday it plans to purchase the upstream, midstream, and marketing divisions of Montana Power Co., Butte, Mont., for $475 million (US). The sale includes subsidiaries that have interests in exploration, production, and marketing of crude oil, natural gas, and gas liquids in the US and Canada.
  • 08/23/2000 -- Aker, Cammell Lairds team up for floater conversions
    Ship repair specialist Cammell Lairds PLC and Aker Maritime ASA's UK subsidiary Aker McNulty today sealed a teaming agreement for floating production conversion work. The deal builds on a cooperative relationship forged by the two companies when working together on projects including Enterprise Oil PLC's Pierce Berge Hugin floating production, storage, and offloading vessel, and the Kerr-McGee Janice floating production unit.
  • 08/22/2000 -- Finance/Companies news briefs, Aug. 22
    Kerr-McGee�Statoil Exploration US�Mullen Transportation�E-Can Oilfield Services Group�Ultramar Diamond Shamrock�Tosco�El Paso Energy�Enerplus Group�Vastar Resources�BP�Lyondell Chemical�Petroleos de Venezuela SA�Diversa�Celanese
  • 08/21/2000 -- corrected: Transocean Sedco Forex to acquire R&B Falcon in $8.8 billion deal
    Transocean Sedco Forex Inc. has agreed to acquire R&B Falcon Corp. in a $8.8 billion deal that would make it the third-largest oil field service company in the world�behind Halliburton Co. and Schlumberger Ltd.�as well as the largest offshore drilling contractor, officials said Monday.

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