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Exploration Development 2001 P14

  • 05/01/2001 -- MMS disburses final payment to coastal states for disputed OCS leases
    The US Minerals Management Service announced late Wednesday that it recently paid $65 million to six coastal states, sharing the federal proceeds from disputed 8(g) tracts. Including that final payment, Alabama, Alaska, California, Louisiana, Mississippi, and Texas have received $650 million in payments over 15 years.
  • 04/30/2001 -- Canadian minister fears Mackenzie Delta gas could be stranded
    Natural gas reserves in Canada's arctic could be stranded for years if a pipeline from Alaska is built before one from the Mackenzie Valley, says the energy minister of the Northwest Territories. Joseph Handley urged the federal government and Canadian companies to be more aggressive in supporting a line from the delta.
  • 04/30/2001 -- Petro-Canada says Mackenzie Delta wildcat finds gas sands
    Operator Petro-Canada says the first wildcat drilled in the Mackenzie Delta in several decades was a smooth and successful operation. The Kurk M-15 well, about 93 miles northwest of Inuvik, encountered a number of sand zones with gas shows. It was drilled to about 10,171 ft, 1,312 ft beyond the original target depth.
  • 04/30/2001 -- Industry execs tell OTC access lacking to offshore acreage
    The power outages that have rolled across California are nothing compared to the "blackout of vision" on energy issues that plague US consumers and regulators who focus only on low prices, industry executives said Monday at the opening of the annual Offshore Technology Conference in Houston.
  • 04/30/2001 -- Algeria seeks bids to develop five Illizi basin fields
    The Algerian Energy and Mines Ministry and state oil company Sonatrach is launching an international bidding round for the development of five oil and gas fields in the prolific Illizi basin in the eastern Sahara. It plans to open the sealed tender bids on Mar. 31 and sign with the successful bidders by Apr. 15.
  • 04/27/2001 -- Finance/Companies news briefs, Apr. 27
    Wintershall AG ... Shell Petroleum ... Husky Energy ... Titanium Oil & Gas ... KCA Drilling ... Aker Maritime ... Kværner ... Reliance Petroleum ... Big Horn Resources ... Eurogas ... Hydralift ... Brissoneau & Lotz Marine ... Friede & Goldman Halter ... BP France ... Esso ... TotalFinaElf ... Bolloré Energie
  • 04/27/2001 -- PetroChina begins production at Luliang field in Junggar basin
    PetroChina Co. Ltd. has started to develop an oil field in Junggar basin of northwestern China's Xinjiang province. The company plans to drill 261 wells at Luliang field this year to establish a production capacity of 10,800 b/d by Dec. 31, expandable in 3 years to 20,000 b/d.
  • 04/26/2001 -- CAPP study: Canadian governments cashing in on resource royalties
    Canadian governments are cashing in on resource royalties from high commodity prices, which have also boosted oil patch earnings, the Canadian Association of Petroleum Producers (CAPP) reported. A study showed tax and royalty revenues for Ottawa and provincial governments, such as Alberta, will be an estimated $60.5 billion (Can.) for 2000-2003.
  • 04/26/2001 -- Nigeria again pushing proposal for gas pipeline to Algeria
    Nigeria aims to revive a long dormant project to build a gas trunkline linking the West African state to Algeria as part of plans to capitalize on gas reserves estimated to be as high as 200 tcf, according to Rilwanu Lukman, the country's presidential advisor on petroleum and energy. Lukman said Wednesday there was "renewed political commitment" among West African governments to the West African Gas Pipeline.
  • 04/26/2001 -- Statoil relinquishes part of Fylla license off Greenland
    Norwegian company Statoil AS has relinquished part of License 03/97 off Greenland, said the Greenland Bureau of Minerals and Petroleum. A well drilled in the area last summer was a dry hole.
  • 04/26/2001 -- Kenya issues Dana Petroleum three offshore production licenses
    The Kenyan Ministry of Energy has approved three offshore production-sharing contracts for Dana Petroleum PLC, the UK independent said Thursday. The blocks, L5, L7, and L10, cover 35,000 sq km and represent more than half of the country's licensed offshore territory.
  • 04/25/2001 -- Barrett Resources revises reserves with proposed drilling program
    A regulatory decision permitting Barrett Resources Corp. to reduce spacing and drill 202 more wells on 16,000 acres of federal lands in the Piceance Basin will add 212 bcf of proved gas reserves simply because of the physical properties of those tight sands, a company executive said Wednesday.
  • 04/25/2001 -- BP has deepwater Gulf of Mexico discovery near Troika field
    BP PLC has a deepwater oil discovery on Green Canyon Block 243 in the Gulf of Mexico. It said a well on the Aspen prospect, in 3,150 ft of water 5 km from its Troika field, found 490 net ft of pay.
  • 04/25/2001 -- OMV enters Iran with deal to explore the Mehr Block
    OMV Iran Onshore Exploration GmbH signed a service contract Monday with National Iranian Oil Co. for a 4-year exploration program on the Mehr Block. OMV plans to have 2D seismic shot over the 2,500 sq km block this year, followed by exploration drilling starting in 2002.
  • 04/24/2001 -- Venezuela begins tender process for 11 gas prone blocks
    Venezuela has begun a public tender process to grant licenses to private national and foreign companies for the development of 11 areas rich in non-associated gas reserves. Investors qualifying for the tender may submit their offers through mid-May. Bids are due to be opened June 28-29.
  • 04/23/2001 -- Gulfstream begins Hafar gas development project in Oman
    Gulfstream Resources Oman Ltd. has begun drilling at the Hafar gas development project in Oman. In January 1999, Gulfstream signed an agreement to develop Hafar Block 30 and sell 84 MMcfd to Oman for 25 years.
  • 04/23/2001 -- Lundin and partners buy shares of Cai Nouc area off Viet Nam
    Lundin Oil AB and two partners have acquired the interests of Fina Exploration Minh Hai BV and PTTEP International Ltd. in the Cai Nouc development area off Viet Nam. The deal is subject to governmental approval. Terms of the transaction were not disclosed.
  • 04/23/2001 -- US officials hopeful for full federal oil and gas R&D funding
    Strong support in Congress and within industry may help restore funding to oil and gas research programs that the US Department of Energy's budget proposal would cut, administration and industry officials said Monday. They spoke at the American Association of Petroleum Geologists' Washington summit on energy policy.
  • 04/23/2001 -- Joint venture begins drilling exploratory well off Brazil
    A joint venture of four companies headed by Petrobras last week began drilling exploratory well 1-SCS-10 in Block BS-3 in the Santos basin off southern Brazil. The well is being drilled in 200 m of water about 100 miles east of Itajai. It is to be drilled to 5,200 m TD at cost of $15 million.
  • 04/20/2001 -- Policy choices for SPR
    One topic analysts hope the White House does not neglect in its upcoming interagency task force report is the US Strategic Petroleum Reserve. The SPR has been a $20 billion pawn in budget battles and presidential elections.
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