Drilling Production 2001 P

09/28/2001 -- Gulf of Mexico rig utilization drops for seventh week
For the seventh consecutive week, utilization fell among mobile offshore rigs in the Gulf of Mexico as US drilling activity declined, industry analysts said Friday. A total of 1,168 rotary rigs were working in the US and its waters this week, said officials at Baker Hughes Inc., Houston. That's 18 less than last week but up from 1,015 a year ago.
12/28/2001 -- DOE selects two more projects for research program
The US Department of Energy added two more projects to its program to develop technologies to increase natural gas production from low-permeability reservoirs. The agency selected 20 other projects for the program last August.
12/28/2001 -- Baker Hughes survey shows slight uptick in US rotary rig count
The US rig count registered a small gain Friday, up 5 with 887 rotary rigs drilling during the final full week of activity for 2001, said officials at Baker Hughes Inc. in Houston. However, that increase was just another fluctuation in a general downward trend for US drilling over the past 28 weeks.
12/28/2001 -- Shell to begin pilot water injection project at Thai field
A unit of the Royal Dutch/Shell Group will launch a pilot water injection project in Greater Sirikit field on S1 concession in early 2002. During 2001, the field suffered a rapid drop in pressure. Thai Shell will decide in mid-2002 whether to commit to a full-scale water injection program.
12/27/2001 -- Nang Nuan redevelopment on hold after failure of well
Thai Shell Exploration & Production Co.'s planned revival of production from Thailand's first offshore oil field is doubtful, officials said.
12/27/2001 -- Market watch: Oil prices rise in anticipation of OPEC action
Futures prices for oil and refined products jumped Wednesday in anticipation that members of the Organization of Petroleum Exporting Countries will roll back production quotas by 1.5 million b/d at their meeting Friday in Cairo. Lower temperatures in the eastern US and forecasts of even colder weather also helped boost energy prices.
12/26/2001 -- Petronas, ExxonMobil bring Angsi field in South China Sea on line
Petronas Carigali Sdn. Bhd., a branch of Malaysian national oil company Petronas, began first production from Angsi field in the South China Sea off Malaysia, 6 months ahead of schedule and 30% below original approved cost.
12/26/2001 -- Petrobras shopping for $3 billion oil company in the Gulf of Mexico
Petroleo Brasileiro SA (Petrobras) is ready to spend some $3 billion to purchase an oil company that will expand its production in the Gulf of Mexico, said the company's financial director Joao Nogueira Batista.
12/21/2001 -- North American drilling activity continues to fall
US drilling activity continued to fall with 882 rotary rigs working this week, officials at Baker Hughes Inc. reported Friday. That's 25 fewer than the previous week and down from 1,087 during the same period last year when the rig count was still trending up.
12/21/2001 -- Norway approves unitization of Kristin field
Norway's Ministry of Petroleum and Energy approved a unitization plan for three licenses on the Halten Bank linked to the development of Kristin field operated by Statoil ASA.
12/21/2001 -- Market watch: Energy futures prices decline with oversupply worries
Futures prices for oil and refined products dipped Thursday as traders worried about the resolve of oil producers to curb production. Oman said it would reduce its oil production by 40,000 b/d, instead of the 25,000 b/d it originally pledged.
12/20/2001 -- ONGC proposes $9.8 billion outlay for 5-year plan
India's state-owned Oil and Natural Gas Corp. (ONGC) plans to spend 469.7 billion rupees ($9.8 billion) over 5 years to produce 144.28 million tonnes of crude oil and 121.80 billion cu m of gas.
12/19/2001 -- Canadian Natural Resources to curtail some heavy oil activity in 2002
Canadian Natural Resources Ltd., Calgary, has decided to curtail some heavy oil drilling and production in 2002. It said recent declines in world oil prices, combined with an unusually high heavy oil differential, contributed to its decision.
12/19/2001 -- SPDC awards facilities contract to Stolt Offshore, Adamac Group
Shell Petroleum Development Co. awarded a $245 million facilities refurbishment and construction contract for its Western Nile Delta Forcados Yokri development to Stolt Offshore SA and a unit of the Nigerian Adamac Group.
12/18/2001 -- Fourth quarter gas production could be lower than market suggests
Fourth quarter estimates of natural gas production could be overly optimistic, lending support to US gas prices next year, even if demand doesn't rebound quickly, financial analysts said Monday. Raymond James & Associates Inc. projected fourth quarter production could be down as much as 2%, compared to the third quarter.
12/18/2001 -- Market watch: OPEC leaves door open for possible quota cuts
As energy prices weakened, officials of the Organization of Petroleum Exporting Countries said Tuesday they would discuss "coordination of the implementation of the organization's decision to reduce output" at a Dec. 28 meeting in Cairo.
12/18/2001 -- Magnum Hunter, Prize Energy to merge into $1.2 billion company
Magnum Hunter Resources Inc. and Prize Energy Corp. Tuesday said they would merge into a $1.2 billion independent oil and gas company during the first quarter. The company will continue to be named Magnum Hunter Resources and will remain in Irving, Tex.
12/18/2001 -- Boots & Coots allies with railroad accident response firm
An employee of Boots & Coots International Well Control Inc. at a blowout. It has formed an alliance with a railroad accident response firm.
12/17/2001 -- GlobalSantaFe market indicator falls only slightly from October
Offshore drilling contractor GlobalSantaFe Corp., Houston, reports its worldwide Summary of Current Offshore Rig Economics (SCORE) for November fell 0.4% from October.
12/17/2001 -- Conoco, Ocean Energy to develop Magnolia field in Gulf of Mexico
Conoco Inc. said Monday it will develop Magnolia field in 4,700 ft of water in the Gulf of Mexico. The project will cost $600 million.

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Drilling Production 2001 P