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Exploration Development 2001 P13

  • 05/09/2001 -- Gulf Canada reports first quarter earnings 27 times 1Q 2000
    Gulf Canada Resources Ltd., Calgary, reports first quarter earnings of $140 million (Can.), a 27-fold increase over first quarter 2000 and almost equal to total 2000 earnings of $148 million. Earnings per share of 24¢ were up 140%, compared with the best quarter of 2000.
  • 05/09/2001 -- More California blackouts expected Wednesday
    The California grid operator said it expects to call for 800 Mw in firm load curtailments Wednesday afternoon, double the 400 Mw that were shed during Tuesday's rolling blackouts. The system is expected to be under even heavier demand Wednesday than it was Tuesday. Peak demand on the transmission system is expected to reach 35,190 Mw Wednesday, compared to Tuesday's projected peak of 34,469 Mw.
  • 05/09/2001 -- Lundin hits oil in joint development area off Viet Nam
    Lundin Oil AB, through its wholly owned subsidiary Lundin Malaysia Ltd., Wednesday announced an oil discovery on Block PM-3 CAA in a joint development area off Malaysia and Viet Nam. The East Bunga Raya No. 1 well encountered seven oil zones.
  • 05/09/2001 -- Fluor awarded engineering contract for project off China
    Phillips Petroleum Co., Bartlesville, Okla., selected Fluor Corp.'s offshore services division to provide engineering for the Bohai Bay Peng Lai 19-3 Phase II Development Project off China, said Fluor, Aliso Viejo, Calif. The contract calls for feasibility studies with options for front-end design, engineering, and other services.
  • 05/08/2001 -- California braces for another day of blackouts
    With temperatures hitting record highs, California braced for a second day of possible rolling blackouts Tuesday. Jim McIntosh, director of operations for the California Independent System Operator, warned blackouts are 'probable' later in the day during a Tuesday morning conference call. 'Demand is trending at 1000 Mw over where we were yesterday at this time,' he said.
  • 05/08/2001 -- FTC finds no illegal activity in western states gasoline market
    The US Federal Trade Commission Monday said a 3-year investigation of major refiners has found no illegal marketing and distribution activities by them in five western states. FTC initiated the investigation to explore differences in the price of gasoline between California cities Los Angeles, San Francisco, and San Diego.
  • 05/07/2001 -- FERC mulls modifying spills to boost Northwest hydropower
    The Northwest Power Planning Council said 2,250 Mw of hydroelectric power would be available for this summer, if water were not spilled over dams now and saved for later when demand for power is greatest. The planning council submitted information last month to the Federal Energy Regulatory Commission in response to a west-wide request to identify ways to increase the power supply.
  • 05/07/2001 -- Gulf Indonesia says Suban-5 flows 31 MMcfd
    Gulf Indonesia Resources Ltd. and partners report the Suban-5 delineation well in the Corridor Block production sharing contract area in South Sumatra flowed on initial testing at a rate of 31 MMcfd of natural gas.
  • 05/07/2001 -- Indian offering draws bids for 16 offshore, 7 onshore tracts
    The Indian government has received bids for 16 offshore and seven onshore blocks in the second round of the new exploration licensing policy (NELP-II). The state-owned Oil & Natural Gas Corp. competed with a partnership of Reliance Industries Ltd. and Hardy Exploration and Production India Ltd. to dominate the offering.
  • 05/07/2001 -- Williams to buy Barrett Resources for $2.8 billion, topping Shell's bid
    Williams, Tulsa, Monday announced an agreement to acquire Barrett Resources Corp., Denver, for $2.8 billion in a deal more than doubling Williams' natural gas reserves as Williams anticipates ramping up its power generation in coming years. Shell Oil Co. had made a $2 billion hostile bid for Barrett.
  • 05/04/2001 -- Santos makes another Australian Otway basin find
    Santos Ltd., operator of Australian exploration permit 154 in the Victorian section of the Otway basin, has made its fourth discovery in that area this year. Lavers-1 wildcat has intersected an 11-m gross gas column in the Cretaceous Waarre sand at 1,542-53 m. The well reached 1,627 m total depth.
  • 05/04/2001 -- Sudan awards Block 5B adjacent to Thar Jath oil discovery
    Sudan has awarded an exploration and production sharing agreement for Block 5B to four companies. Petronas Carigali Overseas Sdn. Bhd. and Sudapet Ltd. were designated joint operators, having 41% and 10% interest respectively. Lundin Oil AB, of Sweden, said its subsidiary Lundin Muglad Ltd. and OMV AG each have 24.5%.
  • 05/04/2001 -- Sao Tome signs agreement for Gulf of Guinea seismic work
    Petroleum Geo-Services ASA, Oslo, Friday announced an exclusive agreement with Sao Tome and Principe to acquire and market 3D seismic data promoting acreage in future license rounds. The Sao Tome islands lie in the deep water 200 miles west of Equatorial Guinea and Gabon.
  • 05/04/2001 -- Statoil buys up 15% of SDFI for 38.6 billion kroner
    The Norwegian Ministry of Petroleum has sold 15% of the state's direct financial interest in offshore oil and gas exploration licenses to Statoil for 38.6 billion kroner.
  • 05/03/2001 -- Ramco farms into Anschutz�s Bulgarian acreage
    Ramco Energy PLC, London, has agreed to farm into Anschutz Bulgaria Ltd.'s A-Lovech license area in northwestern Bulgaria. Anschutz, a subsidiary of Anschutz Overseas Corp., was awarded the A-Lovech block in April 2000, and will act as operator. Once approved by the Bulgarian government, Ramco will have 20% interest and Anschutz will have 80% interest.
  • 05/03/2001 -- Santa Catalina, Eclipse to farm-into Sneddon project
    Santa Catalina Mining Corp., Vancouver, and Eclipse Exploration Ltd., Calgary, have agreed to farm-into AEC Oil & Gas Ltd.'s lands in the Sneddon area in northwestern Alberta.
  • 05/02/2001 -- Latvia plans to launch first Baltic Sea licensing round
    The Republic of Latvia plans to launch its first oil and gas licensing round for Baltic Sea exploration acreage. It will offer seven permits for exploration and drilling and 66 blocks for "preinvestigation." Pre-investigation licenses must be applied for by Oct. 31, while the deadline for bidders for exploration licenses is Jan. 25.
  • 05/01/2001 -- AGA says gas reserves additions top 2000 output by 26%
    US natural gas reserves are up, but infrastructure still must be built to deliver the gas to consumers, the American Gas Association said in a report released Tuesday. Additions to gas reserves exceeded US production by at least 26% in 2000.
  • 05/01/2001 -- BP awards design contract for Shah Deniz platform in Caspian Sea
    BP Exploration (Shah Deniz) Ltd. has awarded KCA Drilling Ltd. a contract for the front-end engineering design of a proposed platform drilling facility for the Shah Deniz development in the Caspian Sea off Azerbaijan.
  • 05/01/2001 -- Premiers say Canada's East Coast has broad reserves for US markets
    The East Coast of Canada will be a growing exporter of oil, natural gas, and electric power to US markets within the next few years, the premiers of Nova Scotia and of Newfoundland and Labrador provinces said Tuesday at the Offshore Technology Conference in Houston.

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