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Drilling Production 2001 P

  • 03/14/2001 -- IEA says global oil demand slips with US slowdown
    Global oil demand will slip by 110,000 b/d, as the influence of the slowdown in the US economy combines with persistently high crude prices to curb oil demand, the International Energy Agency stated Wednesday in its monthly market report.
  • 03/15/2001 -- MMS says Wyoming royalty in-kind test was success
    The US Minerals Management Service said Wednesday that its Wyoming royalty in-kind pilot program has demonstrated that taking oil production in-kind can be a viable alternative to the traditional method of taking royalties in-value. The project, conducted in partnership with the state, began in the fall of 1998.
  • 03/15/2001 -- Helmerich & Payne orders 15 more land rigs
    Helmerich & Payne Inc., Tulsa, Thursday said it has ordered 15 new land rigs, worth $9 million each, with delivery expected from March 2002 to February 2003. The fleet expansion was prompted by high levels of exploration and production activity, attractive economics, and recent contracts for other rigs under construction.
  • 03/15/2001 -- OPEC expected to make additional cuts in oil output
    Members of the Organization of Petroleum Exporting Countries are expected to agree to a cut in their collective production Friday. Observers say a reduction appears a foregone conclusion, though speculation as to the exact volume ranges from 500,000-1 million b/d.
  • 03/15/2001 -- TotalFinaElf to bring four major projects on flow in a year
    TotalFinaElf expects to bring four major projects on stream within 1 year, which will boost gas and oil production by nearly 6% by the end of 2005. Speaking to reporters this week, CEO Thierry Desmarest said his firm expects gas and oil production to grow from 2.12 MMboe/d in 2000 to 2.8 MMboe/d within 4 years.
  • 03/15/2001 -- Sources say White House may reverse offshore drilling ban
    Industry officials and lawmakers from oil producing states say the political timing is right for the White House and Congress to lift the 20-year drilling ban on most federal waters. The recommendation could come as soon as the end of this month when the President�s energy task force reports its initial findings.
  • 03/15/2001 -- Pogo to produce two Gulf of Mexico finds by yearend
    Pogo Producing Co. said Thursday its Main Pass 61 No. 2 exploratory well discovered oil, as did its Ewing Bank 871 No. 4 well. Production from both fields is expected by the end of the year.
  • 03/16/2001 -- GAO asked to investigate environmental damage to North Slope
    Democratic leaders who oppose proposals by the administration of President George W. Bush and Republican lawmakers to drill on the Arctic National Wildlife Refuge coastal plain are asking the General Accounting Office to weigh in on the fight. Lawmakers want GAO to estimate the cost to return the North Slope to its original condition once drilling stops.
  • 03/16/2001 -- US rotary rig activity shows slight sag
    US drilling activity dipped slightly with 1,151 rotary rigs working this week. That�s down 7 from the previous week but up from 764 during the same period a year ago, said officials at Baker Hughes Inc.
  • 03/16/2001 -- Suncor Energy to supply diluent for oil sands project
    Petro-Canada and Suncor Energy Marketing Inc. (SEMI), a unit of Suncor Energy Inc., signed a long-term agreement for SEMI to supply diluent for the Petro-Canada MacKay River oil sands project now under construction.
  • 03/16/2001 -- Platte pipeline link serves Kansas refineries
    Platte Pipe Line Co. has added a shipping connection in Nebraska that opens new oil markets in Kansas for Canadian and US shippers on the Express/Platte pipeline system. Crude oil began flowing this week into the Jayhawk Pipeline via the new connection at Holdrege, Neb.
  • 03/19/2001 -- Offshore rig economics rating continues upward trend
    Houston-based offshore drilling contractor Global Marine Inc. reports its worldwide Summary of Current Offshore Rig Economics (SCORE) for February increased 7.1% over January�the eighteenth consecutive month of increases in the rating.
  • 03/23/2001 -- Market watch: Oil prices decline with economic worries
    Oil futures prices declined Thursday among fears of an economic slowdown as global stock markets suffered through one of their worst days in recent months. On the New York Mercantile Exchange, the May contract for benchmark US light, sweet crudes dropped 26� to $26.54/bbl.
  • 03/23/2001 -- Labor union claims Petrobras knew P-36 had problems
    The Nation Oil Works Union (FUP) has released internal Petroleo Brasileiro SA (Petrobras) documents that FUP says shows Petrobras knew of problems with the P-36 platform before it exploded and sank. The platform, a converted semisubmersible rig, sank Tuesday in 1,350 m of water at giant Roncador field in the Campos basin.
  • 03/23/2001 -- PennWest fourth quarter profits tripled
    Penn West Petroleum Ltd., Calgary, reports its 2000 fourth quarter profits tripled over the previous year to $87.6 million (Can). The company, Canada�s tenth largest exploration and production firm, said cash flow more than doubled to $196.5 million from $86.6 million in fourth quarter 1999.
  • 03/23/2001 -- Partners sell production from Yolla field off Australia
    Australian Worldwide Exploration Ltd. and CalEnergy Gas (UK) Ltd. have agreed to sell gas from the yet-to-be-developed Yolla field in the Bass basin off northern Tasmania to Origin Energy Retail Ltd. Development of the field and related pipeline and processing facilties will cost $400 million (Aus.).
  • 03/23/2001 -- Talisman to spend $120 million (Can.) in Sudan this year
    Talisman Energy Ltd. drilled a successful oil wildcat on its controversial Sudan concession and plans to spend $120 million (Can.) on exploration and development in Sudan by Dec. 31. The decision to proceed comes despite criticism from human rights groups, who claim oil development funds a long-running civil war against Sudanese in the south.
  • 03/23/2001 -- US rotary rig count increases slightly to 1,163 units
    US drilling activity increased slightly this week with a total 1,163 rotary rigs working across the country and in coastal waters, Baker Hughes Inc. officials reported Friday. That�s 12 more rigs, including 9 land units, than the previous week and a strong increase from the 768 that were making hole a year ago.
  • 03/23/2001 -- Analyst: Mexico unlikely to cut oil production
    A Simmons & Co. International analyst doubts Mexico actually will cut its oil production despite an official announcement the country will cooperate with the Organization of Petroleum Exporting Countries' production cut.
  • 03/26/2001 -- Interactive environmental mapping system launched
    The UN's World Conservation Monitoring Centre and the International Petroleum Industry Environmental Conservation Association have disclosed an interactive environmental mapping system, IMapS, designed as a tool for decision making in exploration, contingency planning, and emergency response operations.

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