Exploration Development 2000 P

05/15/2000 -- Reports make conflicting predictions for industry M&A activity
Two energy investment firms have drawn different conclusions from their analyses of first quarter merger and acquisition activity. While M&A activity is certain to continue in the energy sector, the pace of US transactions is expected to slow from the aggressive rates seen in the late 1990s, according to a report released by Cornerstone Ventures LP. But Randall & Dewey Inc. drew another conclusion in its report on global M&A transactions.
05/15/2000 -- MMS to hear evidence on FPSO use
US Minerals Management Service (MMS) officials are hosting a 2-day workshop June 7-8 in Houston to examine the successful use of floating production storage and offloading (FPSO) vessels in other countries as a possible prelude to allowing their use in developing deepwater oil reserves in the Gulf of Mexico.
05/15/2000 -- Plan to transport Iranian gas to India stalls
The long-discussed proposal to transport Iranian gas to India via Pakistan has again hit a brick wall (OGJ, Oct. 4, 1999, p 25). Pakistan officials in late April approved the proposed passage of that pipeline through their country, pending a final decision by India's BJP-led coalition government. But India's political leadership apparently has decided to ignore the proposal.
05/12/2000 -- Royal Dutch/Shell seeking Libya deal
Anglo-Dutch oil giant Royal Dutch/Shell said Thursday that it is looking to return to Libya, 9 years after it pulled out of the country. Shell and about 40 other firms attended a May 10 meeting hosted by Libya's National Oil Co., the purpose of which was to outline the terms and acreage allotments for participation in an oil and gas exploration and licensing round in the country.
05/12/2000 -- Exploration/Development news briefs�May 12
Australian Geological Survey Organization � Beach Petroleum NL � Vintage Petroleum Inc. � Adair International Oil & Gas Inc. � Yemen Hunt Oil Co. � Occidental Petroleum Corp. � Perez Companc
05/12/2000 -- Merger turns gas producer into e-business pipeline
A merger is transforming a former Oklahoma independent natural gas exploration and development company into an international internet firm focusing on e-business, e-commerce and e-telecommunications, the company's new president reported Thursday.
05/11/2000 -- Regal, Cass to merge, develop Ukraine fields
Regal Petroleum Ltd., London, and M.L. Cass Petroleum Corp., Calgary, signed a letter of intent to merge and jointly undertake further development of Ukraine's Chernigiv gas and condensate fields. Regal holds a joint venture PSA for the Chernigiv area, which consists of three gas and condensate fields 200 km east of Kiev that are now producing 7 MMcfd from five wells.
05/11/2000 -- Premier makes oil find off Indonesia
Premier Oil PLC and partners have made an oil discovery on Northwest Natuna Block 1 in the Natuna Sea off Indonesia. A test conducted through perforations at 3,798-3,840 ft encountered sand influx and subsequent water channeling, however, and was terminated without a sustained oil flow.
05/10/2000 -- Azerbaijan concession interest changes hands
Commonwealth Oil & Gas Co. Ltd. sold an 11% stake in the exploration, development, and production-sharing agreement for the Southwest Gobustan oil and gas concession in Azerbaijan to a unit of Oklahoma-based Sooner International Petroleum Co. Ltd. Sooner also received an option to purchase another 5% by June 15.
05/10/2000 -- Brazil to sell 32% of Petrobras shares
Brazil's Commerce Minister Alcides Tapias announced that the government plans to sell 32% of state oil company Petroleo Brasiliero SA's shares by late July. The shares will be sold in small blocks to domestic and foreign investors.
05/09/2000 -- Canada increases estimates of reserves off Newfoundland
The Canada-Newfoundland Offshore Energy Board says new estimates of recoverable reserves from six large oil fields off Newfoundland are 33% higher than estimates made in 1992.
05/09/2000 -- Brazil prepares for second open license auction
As the registration period for Brazil's second open exploration licensing round drew to a close on May 5, the round was expected to be a bigger success than the National Petroleum Agency's (ANP) first licensing round, conducted last year. Forty-eight companies have registered to participate in the latest license auction, seven of them Brazilian.
05/09/2000 -- Internet stocks pose risk for Australia's upstream sector
Australia�s petroleum industry has warned that the investment community�s 'love affair' with high-risk internet stocks could cause a plunge in exploration and production expenditures that might ultimately lead to declining domestic oil production, supply disruptions, worsening national accounts, and a compromised position on greenhouse gas emissions.
05/08/2000 -- Tyumen Oil obtains Siberian exploration licenses
Russia's Tyumen Oil Co. (TNK) Monday said it has received two exploration licenses in East Siberia from the Russian Ministry of Natural Resources Commission. TNK will drill for gas in the Khanda and Yuzhno-Ust-Kut, in Irkutsk near the Chinese border.
05/08/2000 -- Unocal makes two gas discoveries off Indonesia
Unocal says two deepwater discoveries off East Kalimantan confirm that the Central Delta play 'contains world-class gas resources.'
05/05/2000 -- Multinational consortium to study Iranian gas reserves
The National Iranian Oil Co. (NIOC) and nine international oil firms have agreed to undertake a study of Iranian gas reserves with a 25-year projection period, according to a report by the OPEC News Agency. The study will identify and quantify gas reserves, estimate domestic consumption levels, and determine the feasibility of gas exports.
05/05/2000 -- Qatar to supply Kuwait with North field gas
Qatar will supply natural gas from its supergiant North field to Kuwait, Qatari Minister of Energy and Industry Abdullah bin Hamad al Attiyah said in Doha May 3. The gas will come from the enhanced gas utilization (EGU) project Qatar General Petroleum Corp. and ExxonMobil Corp. plan to set up to exploit North field gas reserves.
05/03/2000 -- AEC acquires reserves, midstream assets of McMurry Oil
Alberta Energy Co. Ltd., Calgary, on Wednesday announced that its subsidiary AEC Oil & Gas (USA) Inc. will acquire the common shares of McMurry Oil Co. and other private interests. The acquisition will give AEC 1.2 tcf of proven and probable natural gas reserves in exchange for $910 million (Can.) in cash.
05/03/2000 -- El Paso Energy to install deepwater platform
El Paso Energy Partners LP, Houston, said Wednesday that it will install a multipurpose tension-leg platform on Ewing Bank Block 958 in the Gulf of Mexico. The Moses TLP, for the Prince development, will be installed in 1,500 ft of water, about 110 miles off Louisiana, and will be capable of handling up to 50,000 b/d of oil and 80 MMcfd of natural gas.
05/03/2000 -- Talisman buys interest in Texaco North Sea fields
Talisman Energy Inc. said Tuesday that its Talisman Energy (UK) Ltd. subsidiary is acquiring from Texaco Inc. interests in the Tartan field and related fields in the North Sea. Talisman will acquire the 100% interest in Blocks 14/20a and 15/16a of Tartan and Block 14/20bF-1 of the related Highlander and Petronella subsea satellite fields. The company also requisitioned interests in adjacent exploration acreage for an undisclosed amount.

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