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Drilling Production 2001 P20

  • 07/30/2001 -- Talisman reports record $583 million (Can.) net income during first half
    Talisman Energy Inc., Calgary, reported second quarter net income of $237.2 million (Can.) on cash flow of $640.9 million. For the same quarter 2000, it had reported net income of $213.9 million on revenue of $572.7 million. It said its 6-month results were its best ever. It reported $583 million in net income during the period on cash flow of $1.4 billion.
  • 07/31/2001 -- Market watch: Energy futures falter with economic concerns
    Futures prices for oil and refined products slumped Monday as traders focused their concerns on the effect of a US economic slowdown on the world economy. Some analysts are worried that a sluggish economy will reduce world demand for oil.
  • 07/31/2001 -- Alaska governor urges House to vote Wednesday for ANWR development
    Alaska Gov. Tony Knowles has urged the 435 members of the US House of Representatives to open the coastal plain of the Arctic National Wildlife Refuge to oil and gas development. The House is expected to consider a bill Wednesday that proposes leasing of the region in northeastern Alaska.
  • 08/01/2001 -- Iran negotiates $359 million offshore development deal
    Iranian government officials are negotiating a $359 million buy-back deal with PetroIran Development Co. to triple production from two offshore oil fields to 150,000 b/d by the end of 2005, Middle East sources said Wednesday.
  • 08/01/2001 -- White House backs oil, gas tax breaks in House energy package
    Rep. Bill Thomas (R-Calif.), House Committee on Ways and Means chairman, Wednesday said the White House endorses $13 billion in tax incentives for the oil and gas industry proposed in the committee bill. The Bush administration's own energy blueprint, on which the House bill was based, did not endorse similar incentives.
  • 08/02/2001 -- House passes broad energy bill, narrowly approves ANWR exploration
    The US House of Representatives voted 240-189 Thursday to approve a sweeping bill that contains key portions of the Bush administration's energy blueprint, including approval of leasing of the Arctic National Wildlife Refuge coastal plain. The Senate, controlled by Democrats, is likely to oppose some of the drilling provisions.
  • 08/03/2001 -- Cairn finds oil, gas in block off India; tests planned
    Cairn Energy PLC has made a third hydrocarbon discovery on Block KG-DWN-98/2 off Andhra Pradesh, Eastern India, with well DWN-P-1. The Prospect P well was drilled 12.5 km northwest of the R gas discovery. It has not yet been tested.
  • 08/03/2001 -- Rotary rig count stable in US, falls in Canada
    The number of rotary rigs working this week in the US and its waters was the same as last week, but Canada's count fell slightly, said Baker Hughes Inc., Houston, in its weekly count. There were 1,266 rotary rigs working in the US and its waters. A year ago, the count was 981.
  • 08/06/2001 -- A shaky proposition: a $3/MMbtu natural gas floor price holding this year
    The notion of natural gas prices holding at a $3/MMbtu floor looks increasingly like a shaky proposition in the weeks to come.
  • 08/06/2001 -- DOE plans yet another review of federal energy research programs
    Invited panels of industry experts, elected officials, and other interested parties will participate in a review of federal oil and gas research programs at afternoon public hearings over the next 2 weeks in Denver, Pittsburgh, and Houston, US Energy Sec. Spencer Abraham announced Monday.
  • 08/07/2001 -- Sinopec strikes natural gas discovery in southwestern China
    China Petroleum & Chemical Corp. (Sinopec) said a recent well "remarkably upgraded the production capacity of Jiannan gas field" in Jianghan oil field. The field is near southwestern China's Chongqing City.
  • 08/07/2001 -- Dynegy to build gas processing plant in Chico, Tex.
    Dynegy Inc., Houston, plans to build a second natural gas processing facility in Chico, Tex., adjacent to its existing plant. The 150-MMcfd facility will bring capacity at Chico to 250 MMcfd.
  • 08/08/2001 -- Talisman says no damage to Sudan oil field after rebel attack
    Talisman Energy Inc. says there was no damage to the Heglig oil field in central Sudan after a Sunday attack by rebels opposed to the Khartoum regime. The company said production was briefly suspended and then resumed after the attack by a commando unit of the Sudan People's Liberation Army. (SPLA).
  • 08/09/2001 -- Market watch: Oil futures prices retreat
    Futures prices for oil and refined products dropped in international markets Wednesday, wiping out the previous day's gains in most cases.
  • 08/09/2001 -- Vintage acquires Argentina blocks from Shell unit
    Vintage Petroleum Inc., Tulsa, agreed to acquire producing properties in the Cuyo basin of Argentina from a unit of Royal Dutch/Shell Group for $50.4 million. The blocks are near its existing concessions in the basin.
  • 08/10/2001 -- Iraq again
    Eleven years after Iraq invaded Kuwait, Saddam Hussein continues to complicate world oil markets and governments.
  • 08/10/2001 -- Veba brings Dutch oil field on stream
    German company Veba Oil Nederland BV has brought on stream the Hanze oil field in the North Sea off the Netherlands. The initial rate is 11,000 b/d, but peak production of 30,000 b/d is expected by yearend.
  • 08/10/2001 -- Rotary rig count falls slightly in US, rises in Canada
    The weekly rotary rig count fell by 18 in the US and its waters, but rose 51 in Canada, said Baker Hughes Inc., Houston. This week there were 1,248 rotary rigs working in the US and its waters and 320 working in Canada. A year ago the numbers were 976 and 312 respectively.
  • 08/14/2001 -- Canadian oil sands research keeps production competitive
    A joint research program has facilitated Canadian oil sands development. In the photo, Syncrude Canada Ltd. reinstalls a 'stretched' coker.
  • 08/14/2001 -- AGA study sees shift in use of US natural gas storage facilities
    The American Gas Association reports underground storage is evolving from a peak-shaving tool for utilities to a commercial system that enables companies to manage gas prices and supplies all year. It said gas marketers now control 24% of storage capacity through contracts and gas supply agreements.

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