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Drilling Production 2001 P

  • 09/19/2001 -- Reversing 16-year slide, US stripper oil output rose in 2000
    Reversing a long decline, the number of marginal oil wells and oil production from them increased in 2000, the Interstate Oil and Gas Compact Commission reported Wednesday. It was the first increase in production since 1984.
  • 09/19/2001 -- Pipeline repairs to shut in Point Pedernales field off California
    Nuevo Energy Co. plans to suspend oil production from Point Pedernales field to replace five flanges on the 20-in. pipeline between Platform Irene and an onshore processing plant. Production is about 5,000 b/d net to Nuevo. It has an 80% working interest and Mission Energy Co. has 20%.
  • 09/18/2001 -- Prudential Financial sees no change in US refining margins
    Prudential Financial has not changed its prediction of a $7.15/bbl margin for US refiners for the remainder of the year, despite uncertainty following terrorist attacks. It said refining margins have more than doubled in the last 6 weeks after declining about 60% in the 6-week period prior to that.
  • 09/18/2001 -- Gulf of Mexico rig market weakness again drags down SCORE indicator
    Offshore drilling contractor Global Marine Inc., Houston, reports its worldwide Summary of Current Offshore Rig Economics for August fell by 3.2% from July.
  • 09/17/2001 -- US Congress may attach energy policy measures to budget bills
    The outlook for comprehensive energy legislation grew more muddled Monday as the US Congress focused on pending spending bills that will fund the government during the fiscal year that starts Oct. 1. The House passed a bill in August; the Senate is considering its own proposals.
  • 09/14/2001 -- Michigan provisionally approves Great Lakes directional drilling procedures
    The Michigan Oil & Gas Association applauded proposed oil and gas leasing guidelines that include directional drilling under Lake Huron and Lake Michigan. The newly revealed procedures still await final approval by the Michigan Department of Natural Resources.
  • 09/14/2001 -- US, Canada rotary rig count falls from last week
    The weekly rotary rig count fell by 14 in the US and its waters and by 10 in Canada, said Baker Hughes Inc., Houston. This week there were 1,202 rotary rigs working in the US and its waters and 318 working in Canada. A year ago, the numbers were 1,012 and 271 respectively.
  • 09/13/2001 -- Amerada Hess prepares to spud Faroe Islands wildcat
    The Faroe Islands Petroleum Ministry said Thursday it has approved Amerada Hess (Faroes) Ltd.'s plans to drill a wildcat in 950 m of water on the Faroe Shelf. The well is expected to take 2-3 months and will be the last well drilled on the Faroe Shelf this year.
  • 09/13/2001 -- CanArgo sidetracks Georgian wildcat, drills ahead at another
    CanArgo Energy Corp., London, plans to sidetrack its first hole in a Georgian exploration program testing Cretaceous gas prospects.
  • 09/11/2001 -- Energy prices likely to escalate, analysts report
    Terrorist attacks in New York and Washington, DC, will surely drive up energy prices at least for a while, industry analysts reported late Tuesday. But how long prices remain high depends largely on market perceptions, they said.
  • 09/11/2001 -- Exploration/Development news briefs, Sept. 11
    Norsk Hydro ... Sonangol ... Phillips Petroleum ... Braspetro ... Royal Dutch/Shell ... ENI ... Kellogg Brown & Root ... Mærsk Olie og Gas ... Statoil
  • 09/10/2001 -- Dominion to acquire Louis Dreyfus Natural Gas for $2.3 billion
    Dominion Resources Inc. of Richmond, Va., is acquiring Louis Dreyfus Natural Gas Corp., Oklahoma City, in a $2.3 billion cash, stock, and assumed debt deal that will increase Dominion's natural gas reserves 60% and expand its fast-growing energy trading business, company officials said Monday.
  • 09/07/2001 -- Gulf of Mexico rig utilization rate slumps to 25-month low
    The percentage of mobile offshore rigs under contract in the Gulf of Mexico hit a 25-month low this week, along with a large drop in both the total number of land rigs working in the US and the number of US rigs drilling for natural gas, industry analysts reported Friday.
  • 09/07/2001 -- Conoco awards contracts for Belanak gas field off Indonesia
    Conoco Inc. awarded two engineering, procurement, construction, and installation contracts for the $1.6 billion Belanak gas development off Indonesia.
  • 09/06/2001 -- Helmerich & Payne to buy 27 more rigs in 2002
    Helmerich & Payne Inc., Tulsa, plans to acquire 25 more land rigs and two offshore platform rigs in 2002. It plans capital expenditure of $340 million for next year on fleet additions and refurbishment of existing rigs and other capital equipment.
  • 09/06/2001 -- Schlumberger acquiring fiber-optics technology firm Sensor Highway
    Schumberger Oilfield Services, a unit of Schlumberger Ltd., said Thursday it is acquiring Sensor Highway Ltd. (Sensa), which provides fiber optic sensing technologies for oil and gas wells.
  • 09/05/2001 -- Bergesen Offshore awards oil processing systems contracts to ABB
    Bergesen Offshore, a Norway-based production contractor, has awarded a $95 million contract to ABB Group to build and operate the oil processing systems on two floating production, storage, and offloading vessels.
  • 09/04/2001 -- TotalFinaElf brings Franklin field on stream in UK North Sea
    TotalFinaElf SA has started Franklin field in the UK North Sea, which adds to production of jointly developed Elgin field, which came on stream in March. The two fields should plateau at 140,000 b/d of condensate and 13 million cu m/day of gas, said TotalFinaElf.
  • 09/04/2001 -- Statoil buying Rasmussen Group's 20% share of Navion
    Statoil plans to buy the Rasmussen Group's 20% share in the Navion shipping and offshore company for $175.4 million effective Oct. 1. Statoil will now own all of Navion. It also was agreed that the Rasmussen group will take over Navion's 50% interest in Rasmussen Maritime Services (RMS).
  • 08/29/2001 -- MMS proposes safety rule for offshore pipeline repairs
    The US Minerals Management Service published Tuesday a proposed rule requiring operators to submit written safety plans and procedures prior to opening flanges or cutting into offshore pipelines for repairs or modifications.

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