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Drilling Production 2001 P7

  • 03/05/2001 -- Exploration/Development briefs, Mar. 5
    Nuevo Energy ... Santos Ltd. ... GEOCAN Energy � Unigeo � Seven Seas Petroleum � Ecopetrol
  • 03/06/2001 -- California state Republicans call for special session on gas
    California must boost in-state natural gas production to avoid another energy crisis, California Republicans said Monday, in calling for Gov. Gray Davis to convene a special legislative session to deal with skyrocketing natural gas prices. But a Davis spokesman dismissed the proposal as unnecessary, saying there is plenty of time to deal with gas issues during the current special session the governor called to address the state's electricity crisis.
  • 03/06/2001 -- California Republicans urge Gov. Davis to call special session on gas
    California must boost in-state natural gas production to avoid another energy crisis, California Republicans said Monday, in calling for Gov. Gray Davis to convene a special legislative session to deal with skyrocketing gas prices. But a Davis spokesman dismissed the proposal as unnecessary, saying there is plenty of time to deal with gas issues during the current special session the governor called to address the state's electricity crisis.
  • 03/06/2001 -- CIPA members try to stave off deadline on associated gas
    The California Independent Petroleum Association is scrambling to extend SoCal Gas Co.�s year-end deadline to stop taking associated natural gas that is not up to state quality standards. That move could shut down several small and medium oil producers in southern California, CIPA officials said.
  • 03/07/2001 -- Barrett Resources considering Shell�s $2.2 billion offer
    The outcome of Shell Oil Co.'s $2.2 billion bid to acquire Denver-based independent Barrett Resources Corp. should be known by the end of the week, Walter van de Vijver, chief executive of Shell Oil Co.'s exploration and production arm Shell E&P Co., said Wednesday. Shell said Barrett's board had promised to respond to its proposal to acquire all Barrett common stock for $55/share "no later than Mar. 9."
  • 03/07/2001 -- Ecuador to reactivate 90 shut-in oil wells
    Petroecuador, Ecuador's state oil company, plans to reactivate 90 shut-in oil wells in five fields by forming operating agreements with investors in the private sector. The government wants to reestablish production from the wells, which have been closed for some years for various reasons.
  • 03/07/2001 -- Coiled tubing use predicted to jump 20-25% this year
    The coiled tubing business is rebounding, with some exciting technology and applications yet to come, industry officials said Wednesday at the start of an annual meeting and exhibition in Houston.
  • 03/09/2001 -- Another OPEC cut possible this week; is it justified?
    Will OPEC proceed with another production cut at its ministerial meeting in Vienna this week? And will it be justified?
  • 03/09/2001 -- Statoil to drill Porcupine basin prospect off Ireland
    Transocean Sedco Forex Inc.'s drilling rig Sovereign Explorer will spud the first exploration well on the Sarsfield prospect on the Irish continental shelf for Statoil AS late this spring, the Norwegian state-owned oil and gas company said Thursday. Sarsfield is on exploration license 8/95 in 650 m of water in the Porcupine Basin west of Ireland.
  • 03/09/2001 -- US drilling continues climb to 1,158 rotary rigs
    US drilling activity climbed for a second consecutive week with 1,158 rotary rigs working, Baker Hughes Inc. reported Friday. That total was a 7-rig jump compared with last week, when the US rig count rebounded by 30 rigs.
  • 03/12/2001 -- Market watch: Energy prices drop for second consecutive day
    Energy futures dropped for a second consecutive day Friday across the New York Mercantile Exchange and international markets upon uncertainty about the Organization of Petroleum Exporting Countries' pending decision on oil production quotas.
  • 03/12/2001 -- Friede ends dispute with Ocean Rig over two semis
    Friede Goldman Halter Inc., Gulfport, Miss., Monday announced it signed an agreement with Ocean Rig ASA, Oslo, resolving contract problems for the completion and delivery of Ocean Rig's two Bingo 9000 rigs. Meanwhile, Ocean Rig has dropped arbitration proceedings it initiated in London earlier this month.
  • 03/12/2001 -- Study says corrosion costs US firms $440 billion/year
    Corrosion problems are costing US industry $440 billion/year, participants of a Houston meeting were told Monday. More than 50% of all pipeline incidents and 60-80% of all process plant failures are directly related to corrosion, said members of the National Association of Chemical Engineers.
  • 03/13/2001 -- US firms to develop 240 gas wells in Mexico�s Burgos basin
    BJ Services Co. and Precision Drilling Corp. said Tuesday that Petroleos Mexicanos (Pemex) has awarded them a development contract to drill and complete 240 gas wells in the Burgos basin. The basin covers more than 50,000 sq km in the northeastern Mexico near Camargo.
  • 03/13/2001 -- Democrats expected to unveil energy plan this week
    US Sen. Jeff Bingaman (D-NM) is expected to introduce a bill this week that fellow Democrats say would take a more pragmatic approach to energy policy than a recent Republican energy proposal. Unlike the latter, the Democratic plan would not allow exploration on the Arctic National Wildlife Refuge coastal plain.
  • 03/13/2001 -- Executive Interview: Yukos CEO says access to markets restricting Russian production
    Mikhail Khodorkovsky, CEO of the Russian firm OAO Yukos, says 5 years ago his company was worried about obtaining cash for operations. Today, he says, Yukos wants to obtain knowledge at the best price.
  • 03/13/2001 -- Rig contractors urged to make improvements during upturn
    The future success of the oil and gas drilling industry rests on its ability to change its cost structure and engage the best talents, the chairman of the International Association of Drilling Contractors said here Tuesday.
  • 03/13/2001 -- Sheer Energy gets contract to develop Iranian oil field
    Sheer Energy Inc., Calgary, said Tuesday its subsidiary, Sheer Energy (Cyprus) Ltd., won an $88 million service contract to develop Masjed-I-Suleyman oil field in Iran. The project will include a reservoir simulation study, well recompletions, drilling of 10 wells, and construction of water reinjection facilities.
  • 03/14/2001 -- Pakistan's Zamazama gas field brought on stream
    A joint venture operated by BHP Petroleum Pty Ltd announced Zamzama gas field was brought on stream less than a year from the signing of a gas sales contract and less than 3 years from discovery.
  • 03/14/2001 -- Democrats expected to unveil energy plan next week
    US Sen. Jeff Bingaman (D-NM) is expected to introduce a bill next week that fellow Democrats say would take a more pragmatic approach to energy policy than a recent Republican energy proposal. Unlike the latter, the Democratic plan would not allow exploration on the Arctic National Wildlife Refuge coastal plain.
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