Exploration Development 2000 P

05/24/2000 -- Nigerian company files suit to prevent block reallocation
The Nigerian federal government�s offer of 22 oil blocks for international competitive tender suffered yet another setback last week when indigenous company Oil & Gas Nigeria Ltd. (OGN) brought suit to restrain the government from reallocating one of the deep offshore acreages. OGN wants to protect its holding in Oil Prospecting Lease 249. Details of the OGN suit are still not clear, but operators believe it might be an attempt to thwart the current bidding round.
05/23/2000 -- EIA says ANWR likely has 5.7 billion bbl of recoverable oil
The US Energy Information Administration has reported that the coastal plain of the Arctic National Wildlife Refuge could contain as much as 16 billion bbl of recoverable oil, much of it economically recoverable. The EIA report, using US Geologic Survey data, projected a 95% probability of at least 5.7 billion bbl of oil in ANWR, a 5% probability of at least 16 billion bbl, and a mean value of 10.3 billion bbl.
05/23/2000 -- Venezuela sets tender date for first gas licenses
Venezuela plans to open a public tender later this year for private national and foreign investment to develop 11 areas rich in nonassociated natural gas reserves. The proposed tender, through which licenses will be granted to private companies to explore for and produce natural gas, forms part of the government's broad energy policy, aimed at accelerating the development of the nation's natural gas sector.
05/23/2000 -- Hurricane emerges from bankruptcy, gets upgraded investment rating
Things are looking up for Calgary-based Hurricane Hydrocarbons Ltd., which recently emerged from bankruptcy (OGJ, Feb. 28, 2000, p. 36). Moody's Investors Service said it is upgrading the company's senior notes to B3 from C to reflect its reorganization and Hurricane's recent merger with Shymkentnefteorgsyntez (ShNOS), which operates a a refinery Shymkent, Kazakhstan.
05/22/2000 -- Exploration/Development news briefs, May 23
ECOPETROL � Seven Seas Petroleum � Sipetrol � MTV Investments ... Saudi Aramco � Esenjay Exploration
05/22/2000 -- Texaco makes deepwater oil discovery off Louisiana
Texaco Inc. on Monday said it and partner Agip Petroleum Exploration Inc., an affiliate of Italy's ENI SPA, have made a wildcat oil discovery in the deepwater Gulf of Mexico with their Champlain No. 1 well. Initial results indicate the presence of high-quality reservoir sands with a total net pay of 140 ft. The ultimate size of the discovery will be determined by further appraisal drilling.
05/22/2000 -- Oxy resumes work on controversial Colombian project
Occidental of Colombia, a unit of Occidental Petroleum Corp., Los Angeles, reactivated exploration activities on the Sirir�lock, within the former Samor�roject, on May 16. A court injunction had halted exploration activities in this promising zone of the Colombian plains foothills in March.
05/22/2000 -- Samedan drills successful appraisal well off Israel
Samedan Mediterranean Sea, an subsidiary of Ardmore, Okla.-based Noble Affiliates Inc., has found gas with an appraisal well drilled in the southern extension of Noa field off Israel. Although Noble did not report any test results for Noa South-1, it said it expects the well to produce at a rate higher than Noa-1's 30 MMcfd of gas.
05/22/2000 -- Shell bids for controlling stake in Woodside
Shell Development Australia Ltd. has made a bid to take control of Woodside Petroleum Ltd. through an assets-for-shares swap worth more than $4 billion (Aus.). Shell has offered to trade its inventory of exploration and production assets in Australian and New Zealand, together with some other overseas E&P assets, for a quantity of new shares in Woodside sufficient to raise Shell's stake in the firm to 60% from the current 34%.
05/19/2000 -- Canadian company takes stake in Oman tracts
Berkley Petroleum Corp., Calgary, says it has signed deals with partners for two projects in Oman in its first venture outside Canada. The company will join Phillips Petroleum and Maersk Oil Oman, of Denmark, to explore two production-sharing agreement areas in southwest Oman that cover about 2.2 million acres.
05/19/2000 -- Energy games
Many times-in fact, most times-that legislation is introduced in the US Congress, it's not with the expectation that the bill could pass.
05/19/2000 -- Drilling/Production news briefs, May 19
American Petroleum Institute ... Meridian Resource Corp. � Manti Operating Co. � Enron North American Corp. � Sipetrol � Devon Energy Corp. � Petrobras � Saibos CML ... Enercon Engineering Inc.
05/18/2000 -- Chevron San Jorge makes oil discovery in Argentina
Chevron San Jorge SA, a wholly owned subsidiary of Chevron Corp., announced Thursday an oil discovery on its R�Negro Norte block in the Argentine province of R�Negro. El Solitario Sur x-1, drilled to 8,980 ft TD about 6 miles east of Chevron's Loma Negra oil fields complex, found multiple productive sandstone reservoirs in two formations.
05/18/2000 -- Minister outlines Qatar gas strategy
Qatar has outlined a four-pronged strategy to tap the country's huge gas reserves. Its core focus will be to satisfy rising gas demand in the region, including domestic demand, Minister of Energy and Industry Abdullah bin Hamad al Attiyah has said.
05/18/2000 -- Finance/Companies news briefs, May 18
Chevron Corp. ... Tengizchevroil ... Peoples Energy ... NBB Energy Partners I LP ... Excelergy Corp. ... PricewaterhouseCoopers ... GulfWest Oil Co.
05/18/2000 -- Exploration/Development news briefs, May 18
Perez Companc SA makes Ecuador find; Chevron Corp. snags deepwater Equatorial Guinea block.
05/17/2000 -- ARCO Ghadames makes oil discovery in Algeria
Drucker Industries Inc., Vancouver, BC, reports that partner ARCO Ghadames Inc. has completed logging of its Semhari East-1 well at 3,900 m TD on the Hassi bir Rekaiz oil concession in Algeria. Petrophysical and reservoir formation data analysis are very encouraging, said Drucker, indicating the well encountered an oil reservoir over the two main producing horizons found in the region.
05/16/2000 -- Kuwait welcomes Iran's decision to stop work in disputed waters
Kuwait has welcomed a decision by Iran to stop drilling in a giant gas-condensate field in an offshore area claimed by three countries. Saudi Arabia, Kuwait, and Iran have been long sought a tripartite accord covering the area.
05/16/2000 -- Petronas acquires Pakistani block holdings
Pakistan has awarded an exploration and development license to units of Malaysian state firm Petronas and UK independent Lasmo PLC, while Petronas also acquired interests in and operatorship of another Pakistani block.
05/16/2000 -- Exploration/Development news briefs, May 16
TotalFinaElf SA ... South Atlantic Petroleum ... Braspetro ... Statoil AS ... ENI SPA ... Tanganyika Oil Co. Ltd. ... Syrian Petroleum Co. ... Dragon Oil Turkmenistan Ltd. ... Naftiran Intertrade Co. Ltd.

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