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Drilling Production 2001 P

  • 05/21/2001 -- Investment analysts see strong oil prices for 5 years
    After more than a decade of depressed oil prices, the petroleum industry is now in a strong up cycle that should last for the next 5 years or longer, a panel of investment analysts said Monday morning. They spoke at a leadership and outlook conference in Houston sponsored by the Gulf Coast section of the Society of Petroleum Engineers.
  • 05/21/2001 -- Sonangol says Angola crude output to hit 1 million b/d next year
    Angola's oil production could climb to 1 million b/d this year as a number of the West African state's deepwater offshore development projects come on stream, José Paiva, London-based managing director at Sonangol Ltd., said Monday. He said Angola's output was expected to rise to 1.3 million b/d by 2005 and continue increasing by 25%/year for the rest of the decade.
  • 05/18/2001 -- US drilling activity dips, marine utilization lowers
    Total US drilling activity dipped this week with 1,225 rotary rigs working, seven less than the previous week but up from 849 a year ago. The utilization rate for mobile offshore rigs in the Gulf of Mexico also was down, industry sources reported Friday. .
  • 05/18/2001 -- Oil slick prompts Petrobras to halt production from 13 platforms
    Petroleo Brasileiro SA (Petrobras) has halted production from 13 oil platforms in Campos basin while it investigates the source of an oil slick, estimated at 98,000 l. of crude. The halted production amounts to 135,000 b/d of crude and 830,000 cu m/day of gas. The slick appeared on Thursday.
  • 05/18/2001 -- Flaring ends at Siri field in Danish North Sea
    Statoil AS's marginal North Siri field has become the first Danish offshore installation to stop flaring gas, the Norwegian operator reported Friday. An average of 25,000 cu m/day of gas, previously flared in connection with production shutdowns or process trips, will now be used either in power generation, or re-injected.
  • 05/18/2001 -- Woodside brings Legendre development off Australia to first oil
    The Ocean Legend offshore production facility has brought the $110 million (Aus.) two-field Legendre development off Australia to first oil, operator Woodside Energy Ltd. reported Friday. Production from Legendre North and Legendre South fields, on production license WA-20-L, will now be ratcheted up to a plateau of 50,000 b/d as three more development wells are completed.
  • 05/18/2001 -- Torrid storage injection pace deflating gas price expectations
    Unless hot weather settles in soon, a blistering gas storage injection pace will begin to reverse expectations about exceptionally high gas prices this summer.
  • 05/16/2001 -- Dolphin gas project issuing prequalification invitations
    This weekend Dolphin Energy Ltd. will issue the first of five prequalification invitations for major engineering and construction management contracts for the the Dolphin natural gas megaproject off Qatar, according to development partner United Arab Emirates Offsets Group.
  • 05/15/2001 -- Esenjay Exploration reports well blowout in Matagorda County, Tex.
    Esenjay Exploration Inc., Corpus Christi, Tex., said a mechanical failure caused its Runnells 5 delineation well to blow out May 12. There was equipment damage but no injuries and no fire. Boots & Coots International Well Control Inc., Houston, said the well bridged over and the uncontrolled gas flow was substantially reduced.
  • 05/15/2001 -- Husky to increase East Coast exploration in drive to double output
    Husky Energy Inc. plans to increase exploration activity off Canada's East Coast as part of a plan to double overall company production to 500,000 boe/d by 2005. A decision about proceeding with the White Rose project off Newfoundland has been put off until September, however.
  • 05/15/2001 -- Norsk Hydro awards contract for Fram West field in North Sea
    Norsk Hydro AS has awarded Aker Maritime AS a 500 million kroner ($55.1 million) contract to provide a production module for the Fram West development in the Norwegian North Sea.
  • 05/15/2001 -- Woodside to proceed with Laminaria Phase II off Australia
    Perth-based Woodside Energy Ltd., operator of Laminaria and Corallina oil fields on Block AC/L5 in the Timor Sea off Australia, said participants have approved the $130 million (Aus.) Laminaria Phase II development.
  • 05/14/2001 -- Drilling/Production news briefs, May 14
    Petrolex Energy ... Seven Seas Petroleum ... Mountain Oil ... Tipperary ... Koch Exploration ... Karachaganak
  • 05/14/2001 -- Harrods offering interests in offshore Thailand licenses
    Harrods Natural Resources Inc., a firm owned by Harrods department store magnate Mohammed Al Fayed, has offered to sell stakes in its petroleum prospecting licenses off Thailand.
  • 05/14/2001 -- Finance/Companies briefs, May 14
    Athabasca Oil Sands Trust ... Bonus Resource Services ... Halter Marine Inc. ... Search Energy Corp.
  • 05/11/2001 -- IPAA considering appeal of Montana drilling case
    The Independent Petroleum Association of America is considering an appeal of a court ruling regarding drilling for oil and natural gas in Lewis & Clark National Forest of Montana. A Seattle federal appeals court said IPAA lacks standing to sue the US Forest Service. IPAA said it was evaluating whether to appeal to the US Supreme Court.
  • 05/11/2001 -- Total US drilling activity increases as offshore utilization slumps
    US drilling activity continued to climb, but after 11 consecutive weeks of improvements, the utilization rate among mobile offshore rigs declined, industry analysts reported Friday. There were 1,232 rotary rigs drilling in the US this week, 15 more than the previous week and up from 830 a year ago.
  • 05/11/2001 -- Petrobras strikes 22°-gravity oil in Brazil's Santos basin
    Petroleo Brasileiro SA (Petrobras) discovered 22°-gravity oil on a deepwater block in Santos basin Block BS-500 in 1,498 m of water. The discovery was off Rio de Janeiro state, 170 km from the city of Rio de Janeiro.
  • 05/11/2001 -- National Oilwell expands control systems line with acquisition
    In a move that expands its electrical control systems line, National Oilwell Inc. acquired Tech Power Controls Co. for about $10 million, sources reported Friday. Both companies are based in Houston.
  • 05/11/2001 -- Resources Chairman praises federal ruling against roadless rule
    A key congressman has praised a May 10 decision by an Idaho judge to issue a temporary injunction against a Clinton administration rule that effectively would block about one-third of the nation's forests from oil drilling and other development. The administration has not yet commented on the ruling.

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