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Drilling Production 2001 P9

  • 03/26/2001 -- Market watch: Oil prices rise as Mexico vows production cut
    International oil futures prices rebounded Friday as Mexico announced it would cut its oil production by 40,000 b/d Apr. 1 in cooperation with the planned rollback by the Organization of Petroleum Exporting Countries.
  • 03/26/2001 -- Finance/Companies news briefs, Mar. 26
    Geoservices � Schlumberger Oilfield Services � Benton Oil & Gas � DOL Resources � Coastal Resources � Seitel � Grant Geophysical � Ocean Energy � Texoil � Petroleos de Venezuela SA � Massey Energy � Appalachian Synfuel � Pembina Pipeline Income Fund � Pembina Pipeline
  • 03/27/2001 -- Gulf Indonesia announces test of discovery off East Java
    Gulf Indonesia Resources Ltd., a subsidiary of the Calgary-based Gulf Canada Resources Ltd., plans to drill two more prospects in the Ketapang production sharing contract based upon test results from the Bukit Tua-1 oil discovery off East Java. The well flowed at 2,800 b/d of oil.
  • 03/27/2001 -- Oceaneering International's FPSO to work 7 years for Angola Drilling Co.
    Angola Drilling Co. Ltd. has issued a letter of intent to Oceaneering International Inc. to charter the Ocean Producer, a floating production, storage, and offloading vessel, to produce from the Canuku area off Angola. The FPSO has spent 9.5 years working off West Africa. The new charter is for 7 years.
  • 03/27/2001 -- Conoco moveable gas production unit going to West Natuna Sea
    Conoco Inc. said Tuesday its moveable offshore gas production unit is en route to Indonesia's Block B fields in West Natuna Sea, where it is expected to arrive in early April. Hyundai Heavy Industries in Ulsan, South Korea, built the unit, named Hang Tuah, which can be relocated from field to field as reserves are depleted.
  • 03/27/2001 -- J. Ray McDermott will install pipelines for Shell's Crosby field
    J. Ray McDermott Inc., a subsidiary of McDermott International Inc. will install pipelines for Shell Exploration & Production Co.'s Crosby field, a subsea project in the deepwater Gulf of Mexico. Financial terms of the contract were not disclosed.
  • 03/28/2001 -- DOE says Midway-Sunset pilot project yields 1 million bbl
    The US Department of Energy said Tuesday a government-industry experiment has revived a central California lease and resulted in the production of more than 1 million bbl of oil once thought unrecoverable. DOE said because of the project, oil is flowing from 100 privately funded wells nearby and millions of barrels more could be recovered from the Bakersfield area.
  • 03/28/2001 -- Provident to acquire Maxx Petroleum
    Provident Energy Trust will acquire Calgary-based Maxx Petroleum Ltd. in a $133 million (Can.) deal involving cash, stock, and assumed debt. Maxx, which put itself on the market 9 months ago because of declining stock values, has production of 8,700 boe/d, mainly in the Lloydminster heavy oil region on the Alberta-Saskatchewan border.
  • 03/29/2001 -- Petronas, Pertamina sign 20-year gas agreement
    Malaysian state oil company Petronas has signed a 20-year agreement to buy gas from Indonesian state oil and gas enterprise Pertamina. Petronas will buy up to 250 MMscfd of gas, or a total volume of 1.5 tcf over the contract period. Delivery of the gas from the West Natuna Sea will begin by mid-2002.
  • 03/30/2001 -- TRC accepting internet requests for Texas well data
    The Texas Railroad Commission said Thursday that requests for oil and gas well records, production reports, geological data, and research information can now be made through the agency web site.
  • 03/30/2001 -- US rotary rig count at highest level in 10 years
    US drilling activity increased by 30 rigs this week with a total of 1,193 rotary rigs working across the country and in coastal waters, Baker Hughes Inc. officials said Friday, adding it�s the highest US rig count since Nov. 23, 1990. That count compared with 775 rigs operating at this time a year ago.
  • 04/03/2001 -- Amerada Hess farms into Chestnut field off UK
    Amerada Hess Ltd. has agreed to farm in to the Chestnut field on Block 22/2a in UK North Sea. The agreement follows Br�vig Production Services Ltd.'s announcement it would not be able to fulfill its contract to develop the field.
  • 04/04/2001 -- Companies launch subsea pipeline corrosion research
    InterCorr International Inc., Houston, and Shell Global Solutions (US), a division of Shell Oil Products Co., have launched an industry program to improve systems for monitoring corrosion and flow assurance in subsea pipelines. Other oil companies involved in the program are BP PLC, Venezuela�s PDVSA, and Brazil�s Petrobras.
  • 04/04/2001 -- Exploration/Development news briefs, Apr. 4
    Enterprise Oil � Esso Exploration Angola (Block 15) � BP Exploration (Angola) � Agip Exploration � Statoil � Infinity � Latvia � Corridor Resources � Potash Corp. of Saskatchewan
  • 04/04/2001 -- Drilling companies urged to be proactive regarding e-business strategy
    Now that the hype around e-business has faded, drilling companies still should be proactive rather than reactive in creating an e-business strategy, a spokesman for Helmerich & Payne Inc., Tulsa, said Wednesday. Both customers and suppliers are looking for better supply chain connectivity, he said.
  • 04/04/2001 -- Sec. Norton sees bleak US energy picture
    The US "energy picture does not look good," Interior Sec. Gale Norton warned Wednesday. She said a drought in the West would reduce hydropower and bring California-type electricity shortages to other states. She also noted the nation�s increasing need for oil and gas supplies.
  • 04/04/2001 -- Halliburton repairs Åsgard welds
    Statoil has awarded Halliburton Co. a contract worth 250 million Norwegian kroner ($27.53 million) to strengthen the weak points in the welded joints in pipe connections on Åsgard field in the Norwegian Sea. Weaknesses were discovered in about 72 pipe connections on the seabed when the Smørbukk structure was being prepared for production last autumn.
  • 04/05/2001 -- Petrobras increases its gas reserves in Bolivia by 54%
    Petroleo Brasileiro SA (Petrobras) said its natural gas reserves in the San Alberto and San Antonio fields in Bolivia increased 54% between 1999 and 2000. On Dec. 31, 2000, Petrobras registered reserves of 462 billion cu m in both fields, including proven and probable reserves. On Dec. 31, 1999, the reserves were 300 billion cu m.
  • 04/05/2001 -- Suncor reviews participation in Australia shale plant
    Calgary-based Suncor Energy Inc. is reviewing its interest in the Stuart oil shale demonstration project, near Gladstone in Queensland, Australia.
  • 04/06/2001 -- Gas market bears come out of hibernation
    The natural gas market bears have come out of hibernation and proclaim a "masked" demand slump that could imperil prices.

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