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Drilling Production 2001 P4

  • Tue Jan 30 11:01:00 CST 2001 -- Audit: Southern California Edison transferred billions to parent
    An audit of Southern California Edison Co. ordered by state regulators showed the company paid its parent Edison International $4.8 billion in dividends during the last 5 years. The audit also revealed that the utility had $1.226 billion in cash as of Jan. 19, compared to a previous utility estimate of $51.8 million. The PUC wanted more financial data to help state officials decide what type of relief is needed, if any, to prevent the second largest utility in California from going bankrupt.
  • Thu Feb 01 10:02:00 CST 2001 -- Santa Fe awards letter of intent for two spec jack ups
    Santa Fe International Corp. placed an order with PPL Shipyard PTE Ltd. of Singapore for two jack up rigs. In December, Santa Fe said it intended to build two deepwater semisubmersibles and up to four jack ups. The two rigs will cost $125 million each and take 2 years to complete. The agreement includes options for more such units, the first two at a similar price.
  • Thu Feb 01 10:02:00 CST 2001 -- Syncrude Canada buys power plant
    Syncrude Canada Ltd.'s joint venture partners have bought a power plant near their Mildred Lake oil sands plant in northern Alberta from TransAlta Ltd., Calgary, for $65 million (Can.). The sale was effective Jan. 1, 2001.
  • Thu Feb 01 17:02:00 CST 2001 -- Conoco adds 333 million boe to reserves
    Conoco Inc., Houston, said Thursday that it added 333 million boe to its worldwide proved reserves in 2000, replacing 139% of the oil and gas it and affiliates produced during the year. Conoco's 2000 reserve additions largely came from the company's primary focus areas of Indonesia, Venezuela, North America, the UK, and Viet Nam.
  • Fri Feb 02 10:02:00 CST 2001 -- Santa Fe touts contrarian rig construction policy
    Santa Fe International Corp. Vice-Pres. Richard Hoffman said his company's recent decision to build at least four offshore rigs without contracts is nothing new for Santa Fe (OGJ Online, Feb. 1, 2001). He said the company has built on spec regularly since 1988, and intends to continue.
  • Fri Feb 02 15:02:00 CST 2001 -- Aussie oil shale production up
    Australian companies Southern Pacific Petroleum NL and Central Pacific Minerals NL, along with Canadian joint venture partner Suncor Energy Inc., produced 16,000 bbl of naphtha and medium shale oil in a December test run at the Stuart project near Gladstone in Queensland.
  • Fri Feb 02 15:02:00 CST 2001 -- North American drilling activity continues to climb
    Drilling activity continued to improve with 1,138 rotary rigs working in the US and its waters this week, officials at Baker Hughes Inc. reported Friday. That�s 22 more than the previous week and up strongly from 757 during the same period a year ago.
  • Mon Feb 05 09:02:00 CST 2001 -- Hunt Oil improves offer for Berkley
    A unit of Hunt Oil Co., Dallas, has increased the cash component of an offer for Calgary-based Berkley Petroleum Corp., Calgary, to $10.50 (Can.) per share from $10. The offer is open for acceptance until 7 p.m. Calgary time Feb. 15. Berkley said Feb. 4 it had rejected Hunt's 'marginally improved' offer.
  • Mon Feb 05 15:02:00 CST 2001 -- Occidental to evaluate Peruvian jungle blocks
    Occidental Petroleum Corp. has signed an 18-month agreement with Perupetro, the state oil agency, to evaluate blocks 21 and 22 in the Pachitea and Ucayali basins. Repsol-YPF SA and Maple Gas Corp. are also on the verge of signing exploration agreements.
  • Tue Feb 06 11:02:00 CST 2001 -- UK oil, gas production figures diverge
    Oil and gas production in the UK moved in opposite directions last year, as total energy production fell 2.5% from the year before, according to Department of Trade and Industry data. Oil production dropped 7.9% in 2000 due to summer maintenance in the North Sea that lasted longer and had a greater impact than last year. Gas output rose 9.5%.
  • Tue Feb 06 11:02:00 CST 2001 -- UK seeks gas flow from two Irish Sea blocks
    UK Minister of Energy Peter Hain Tuesday said the government would accept applications to develop two blocks containing fallow gas discoveries in the eastern Irish Sea. Kerr-McGee North Sea UK Ltd. previously held blocks 113/28 and 113/29 under a petroleum production license but relinquished them in 1999.
  • Tue Feb 06 15:02:00 CST 2001 -- Land drillers must cope with new ergonomics rule
    Drillers have been warned that an Occupational Safety & Health Administration program to reduce work-related musculoskeletal disorders creates a 'superior class of injured personnel' by ordering more compensation for ergonomic than for other types of injuries.
  • Wed Feb 07 11:02:00 CST 2001 -- Norne-Heidrun gas trunkline opens
    Statoil AS has started up a gas export line expected to move 7.6 billion cu m/year from two of the northernmost producing fields on the Norwegian Continental Shelf to continental Europe. Statoil said Wednesday that first flow was Monday for the U-shaped Norne and Heidrun gas export trunkline system.
  • Wed Feb 07 15:02:00 CST 2001 -- Study: Well complexity leading factor in offshore accidents
    The complexities of deep wells and extended-reach drilling are bigger factors in offshore accidents than water depth or whether the operator is a major or independent producer, an academic analyst told members of the International Association of Drilling Contractors at a Houston conference.
  • Wed Feb 07 15:02:00 CST 2001 -- Polar Lights project in Russia passes 75 million-bbl mark
    Polar Lights Co., a joint venture of Conoco Inc. and its Russian partners, announced Wednesday that Ardalin field has passed the 75 million bbl (10 million tons) production milestone. The field, in the Nenets Autonomous Okrug of the Timan Pechora basin, began production in August 1994.
  • Thu Feb 08 09:02:00 CST 2001 -- Draugen shutdown continues
    Norske Shell AS said Thursday its Draugen field in the Norwegian Sea remained shut down after production was cut last Friday due to adverse winter weather and extremely low temperatures. Acting Draugen Platform Manager Nils Gunnar Gundersen said the temperature at the field, located on block 6407/9, had climbed to �1� C and 'work is being done to prepare the start-up procedure.'
  • Thu Feb 08 10:02:00 CST 2001 -- Statoil to try bacteria-driven oil recovery at Norne field
    Statoil AS aims to produce an extra 30 million bbl of oil over the next 15 years from its Norne development in the Norwegian Sea through the pioneering use of a 'bacteria-aided' method of improved oil recovery, it said Thursday. Kjell Arne Jakobsen, staff engineer for petroleum technology on Norne, said method uses naturally occurring bacteria which, when treated with oxygen, 'wash' oil out of the pore walls of a reservoir for recovery.
  • Thu Feb 08 16:02:00 CST 2001 -- Drilling/Production news briefs, Feb. 8
    TotalFinaElf � Transocean Sedco Forex � US Environmental Protection Agency � Enterprise Oil � Dril-Quip
  • Fri Feb 09 00:02:00 CST 2001 -- Gas markets to remain tight despite recent respite
    Will a major shortfall of natural gas supply this winter spell tight gas markets for the foreseeable future? That likelihood continues to persist even though a demand slump has brought gas prices back down from their stratospheric peaks of December.
  • Fri Feb 09 08:02:00 CST 2001 -- Hydro fields ease back into production
    Norsk Hydro AS reported Thursday that its Njord oil field in the Norwegian Sea had resumed normal operations as production at many of the operator's other Norwegian Continental Shelf installations was ramped back up after 'drastic' output reductions related to the recent cold weather.
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