Drilling Production 2001 P

11/26/2001 -- Oil prices weaken in wake of production cut disagreements
London oil traders continued to mark down the price of North Sea Brent crude following Russia's decision not to support the Organization of Petroleum Exporting Countries in making output cuts.
11/23/2001 -- Russia fails to support Organization of Petroleum Exporting Countries
Oil prices have again retreated below what London traders describe as the psychologically important $20 bbl mark as Russian surprised the market by announcing production cuts far below those expected by the Organization of Oil Exporting Countries (OPEC) in support of the cartel's planned output cuts.
11/23/2001 -- Statoil AS drifting rig back in tow as company announces Huldra startup
Statoil AS Byford Dolphin drilling rig is under tow again in the Norwegian Sea after being adrift for over 24 hours in heavy seas 140 miles off the northern Norwegian coast. The company also today announced the successful startup of its delayed Huldra project.
11/22/2001 -- Prices firm as Organization of Petroleum Exporting Countries (OPEC) say production cuts imminent
Prices on the London International Petroleum Exchange (IPE) have staged a recovery, as indications emerged that the Organization of Petroleum Exporting Countries (OPEC) expects to announce an agreement with non-member producers which, could take as much as 2 million b/d out of the marketplace.
11/22/2001 -- 'Due for replacement' drilling rig adrift in Norwegian Sea
Statoil AsA's Byford Dolphin drilling rig has been adrift in the Halten Bank area of the Norwegian Sea since it escaped from a tow early today. All 71 crew on board are in good condition, and the position is not considered critical.
11/22/2001 -- UK Domestic gas supplier Centrica buys into North and Irish Sea assets
Centrica PLC, the gas supply and service company created following the privatization of the British Gas Corporation, is to spend $88 million to acquire gas an oil production assets in the North Sea and Irish Sea.
11/20/2001 -- US Secretary of Energy to visit Russian counterparts this month
US Energy Sec. Spencer Abraham will represent the US in a ceremony celebrating the completion of the Caspian Pipeline Consortium pipeline on Nov. 27 in Novorossiysk, Russia. He also will go to Vienna to meet with the International Atomic Energy Association.
11/19/2001 -- Global Marine rig market indicator continues to fall
Offshore drilling contractor Global Marine Inc., Houston, reports its worldwide Summary of Current Offshore Rig Economics for October fell by 3.1% from September. The rating continues to be dragged down by low Gulf of Mexico rates, said the company.
11/19/2001 -- More rigs working in deepwater US Gulf of Mexico, says MMS
Forty-seven rigs were working in at least 1,000 ft of water in the Gulf of Mexico this week, said the US Department of the Interior's Minerals Management Service. Of these, a record 43 were working in 1,500 ft or more of water, and 9 were working in 5,000 ft or more of water.
11/19/2001 -- ChevronTexaco raises goals for post-merger improvements
ChevronTexaco Corp. has set higher financial and operational targets for the merged company. It said recurring synergies would be $1.8 billion/year by March 2003.
11/19/2001 -- Market watch: Energy futures rebound but market remains shaky
Energy futures prices rebounded Friday in response to massive declines in earlier trading sessions last week, but analysts said international oil markets remain highly uncertain.
11/16/2001 -- North American rotary drilling activity falls this week
North American drilling activity continued to fall this week, with 1,261 rotary rigs drilling in Canada and in the US and its waters, said Baker Hughes Inc., Houston. That was down 19 from last week.
11/16/2001 -- Petro-Canada finds hydrocarbons on fault block east of Terra Nova field
Petro-Canada, operator of Terra Nova oil field off Newfoundland, Friday said the first well on a separate fault block east of the field found hydrocarbons.
11/16/2001 -- Supreme Court denies IPAA standing in suit challenging Forest Service
The US Supreme Court won't allow the Independent Petroleum Association of America to challenge a US Forest Service decision not to lease lands in the Lewis and Clark National Forest of Montana.
11/15/2001 -- Drilling/Production news briefs, Nov. 15
Amerada Hess ... Bergesen ... Statoil ... Prosafe Drilling Services ... Consortium Service Management Group ... Humble Petroleum ... CNOOC ... Talisman Energy (UK) ... FMC Technologies ... Soekor E&P ... Apache China Petroleum ... Shengli Oil & Gas ... and more
11/15/2001 -- Market watch: Energy prices plummet in wake of OPEC decision
Energy prices plummeted Wednesday with the demand by the Organization of Petroleum Exporting Countries that nonmember producers cooperate in a proposed 2 million b/d cut in oil production by Jan. 1.
11/15/2001 -- $400 million development set for dormant southern N. Sea gas fields
The UK government has approved the development of the second phase of the JUNO network of gas fields in the southern sector of the North Sea. The partners in the project will now proceed with a $400 investment.
11/15/2001 -- Pemex pipeline conference focuses on heightened security concerns
Security -- past, present, and future -- for the natural gas and petroleum pipelines of North America was the unifying theme in remarks that opened the Sexto Congreso y Exposición Internacional de Ductos in Mérida, Yucatán, Wednesday.
11/15/2001 -- Kerr-McGee gives CSO Aker Maritime work for Gunnison field spar
Kerr-McGee Corp. has awarded CSO Aker Maritime Inc. a truss spar contract for the Gunnison field development in the Gulf of Mexico.
11/14/2001 -- MMS to require casing pressure monitoring for subsea wellheads
The US Mineral Management Service has proposed that wells with subsea wellheads completed after Jan. 1, 2005, have the means for monitoring casing pressures. MMS issued a notice of proposed rulemaking to amend its regulations for oil and gas well completion operations.

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Drilling Production 2001 P