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Drilling Production 2001 P

  • 01/02/2001 -- Marathon, Kinder Morgan form CO2 joint venture
    Marathon Oil Co. and Kinder Morgan Energy Partners LP, both of Houston, formed a joint venture for enhanced oil recovery using carbon dioxide flood techniques in the Yates field and the Scurry Area Canyon Reef Operators Committee (SACROC) unit in the Permian Basin of West Texas.
  • 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.
  • 01/02/2001 -- Agip plans to double Nigerian output by 2004
    The head of Agip SPA's Nigerian E&P arm said Tuesday the company's oil output will be 450,000 b/d within 3 years, making it the third largest producer in the West African nation, according to the news agency of the Organization of Petroleum Exporting Countries.
  • 01/02/2001 -- Petrobras to sell platform, lease it back
    Petroleo Brasileiro SA (Petrobras) sold its Petrobras XX floating production unit to Westdeutsche Landesbank (WestLB) for $200 million. Petrobras will continue to operate the unit through a leasing contract for ten years, with the option to buy it back. The company intends to complete other similar transactions this year.
  • 01/02/2001 -- Shell boosts spending on two Thai fields
    Royal Dutch/Shell Group plans to spend 80% more this year on development in Thailand than last year. Thai Shell Exploration & Production Co., an affiliate of the Anglo-Dutch oil group, plans to spend up to $73 million in 2001. The company intends to sustain production from one field and restart it at another.
  • 01/03/2001 -- Khelil: OPEC output cut could be triggered before Jan. 17
    Algeria's Energy and Mines Minister, Chakib Khelil, Wednesday urged the 11 member states of the Organization of Petroleum Exporting Countries not to wait until the next ministerial meeting Jan. 17 before cutting production to prop up falling oil prices.
  • 01/04/2001 -- Drilling/Production news briefs, Jan. 4
    Prize Energy � Oil & Natural Gas Corp. � Gaffney, Cline & Associates � Petroleum Geo-Services
  • 01/05/2001 -- UTI Energy adds six rigs to fleet
    UTI Energy Corp., Houston, said Friday it has entered into three separate agreements to acquire six drilling rigs for $13.6 million cash. It said the six rigs have an average depth capacity of 15,000 ft and will bring its fleet to 150 rotaries. The three transactions are expected to close by the end of the month.
  • 01/05/2001 -- US rotary count drops seven rigs
    US drilling activity dipped slightly as the industry moved into the new year, with a total 1,107 rotary rigs working this week, seven less than the previous week, officials at Baker Hughes Inc. reported Friday.
  • 01/08/2001 -- Cairn makes second gas find off Western India
    Cairn Energy PLC said Monday that it was considering development options for a second oil and gas find on block CB-OS/2 off Gujurat in Western India. Two zones in the Ambe discovery flowed 41 MMcfd of gas on a 96/64-in. choke, while a third zone flowed 150-500 b/d of oil.
  • 01/09/2001 -- Aker to use BOA vessels for deepwater work
    Aker Maritime AS subsidiary Aker Marine Contractors said Monday it will use BOA Ltd.'s fleet of specialized vessels to install offshore platforms and mooring systems in deepwater. BOA paid 56 million kroner for 40% of AMC, with Aker retaining 60%.
  • 01/09/2001 -- Petroleum Development plans 18 Piceance basin wells
    Petroleum Development Corp., Bridgeport, W.Va., has concluded two farmout deals which will allow it to drill and develop reserves on 57,000 acres in and adjacent to Grand Valley field in Garfield County, Colo. PDC said it now controls 60,500 acres in the gas-prone Piceance basin of western Colorado. Terms of the deal were not disclosed.
  • 01/10/2001 -- AGA says US gas stocks adequate for rest of winter
    The American Gas Association said Tuesday that US natural gas storage levels appear adequate for the rest of the winter. It said gas stocks were 1.73 tcf, more than the country has used at the end of the last five winter heating seasons
  • 01/10/2001 -- Kerr-McGee to spend $630 million in North Sea
    Kerr-McGee Corp., Oklahoma City, plans to spend $630 million on exploration and production in the North Sea this year, the bulk of a $1.03 billion global E&P program announced Tuesday. The investments are part of a record $1.24 billion budgeted for capital expenditures in 2001, up 60% from last year.
  • 01/10/2001 -- Canadian drilling activity sets record
    Canada�s drilling industry is operating at close to capacity, with 96% of the 624 available units in operation. The Canadian Association of Oilwell Drilling Contractors (CAODC) said the total sets a new record for activity, compared to the previous high of 568 units last February.
  • 01/11/2001 -- Clinton won't make Alaska's ANWR a national monument
    President Bill Clinton will not designate the coastal plain of the Arctic National Wildlife Refuge a national monument, a spokesman said Wednesday. The administration said the 1980 Alaska National Interest Lands Act currently gives ANWR more protection against development than monument status would.
  • 01/11/2001 -- Lehman predicts $6.25 gas price for 2001
    The Lehman Brothers investment firm has raised its 2001 natural gas price forecast from to $6.25/MMbtu from $5, and its 2002 forecast to $4.50 from $4.15. However, it said, high prices have decreased demand markedly.
  • 01/11/2001 -- Sinopec Star crude output up 62%
    China's Sinopec Star Petroleum Co. Ltd., a subsidiary of China Petroleum and Chemical Corp. (Sinopec), raised its crude production in 2000 to 2.5 million tonnes, up 62% over 1999. Tahe field in northwestern China's Tarim basin accounted for 76% of the production.
  • 01/12/2001 -- Price stability key to oil, gas markets today
    Price stability is the watchword in oil and gas markets these days. But the two markets are coming at it from different directions.
  • 01/12/2001 -- Second phase set for Fort Hills oil sands project
    TrueNorth Energy Corp., Calgary, plans a second phase to its proposed Fort Hills oil sands project that will double expected peak production to 190,000 b/d of bitumen and nearly double the project's cost to $2 billion (Can.).

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