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General Interest 2001 P10

  • 05/31/2001 -- PetroCom joins industry consortium to upgrade offshore communications
    Petroleum Communications Inc. (PetroCom), an offshore cellular telephone and satellite communications firm in Harahan, La., is joining with founders of the Western Gulf Microwave Consortium to upgrade communications for offshore platforms and drilling rigs in the western Gulf of Mexico.
  • 05/23/2001 -- Bush administration handicapped until appointees confirmed
    US President George W. Bush's supply-oriented energy policy is winning cheers from the oil and gas industry, but other energy proposals are temporarily stalled until he assembles his new administration.
  • 05/22/2001 -- Oil and gas firms urged to find new ways to recruit, retain workers
    While many worry about future energy supplies, the "truly scarce resource" in the oil and gas industry over the next few years will be "talented, technical people," said a panel of industry executives.
  • 05/18/2001 -- Eight producers to put $25 billion in Saudi gas projects
    In a major move to reopen its upstream sector to foreign investors, Saudi Arabia on Friday named eight international oil companies to participate in three natural gas exploration and development projects with an initial total cost estimated at $25 billion.
  • 05/17/2001 -- Award in Texas gas station dealers' lawsuit against Exxon climbs
    A federal judge in Corpus Christi, Tex., set the total award in an independent gas station dealers' lawsuit against Exxon Corp. at about $10 million, including attorney fees, court costs, and interest, an attorney said. The judgment followed a jury verdict of $5.7 million in November 2000.
  • 05/17/2001 -- Congress pledges to move swiftly on White House energy plan
    The US Congress Thursday responded swiftly to President Bush's energy task force plan, pledging to pass comprehensive energy legislation this year. But Democrats critical of the report say they will not vote for a bill that overemphasizes supply over conservation.
  • 05/09/2001 -- ExxonMobil asks FTC to investigate Unocal's gasoline patents
    ExxonMobil Corp. and the National Petrochemical & Refiners Association each have asked the US Federal Trade Commission to investigate reformulated gasoline patents held by Unocal Corp. Neither the FTC or ExxonMobil has contacted Unocal, a Unocal spokesman said. The FTC requests are the latest in a series of challenges regarding Unocal's patents.
  • 05/04/2001 -- Analyst says producers are subletting deepwater rigs more often
    The deepwater rig market is emerging as a spot market because producers are becoming comfortable with the idea of subletting rig time to other operators, said an analyst for ODS-Petrodata Group. In the US Gulf of Mexico, subletting has grown from 2-4% of the activity in 1996-97 to 15% or more of the rig market activity.
  • 05/04/2001 -- El Paso, Marathon to study subsea pipeline route from Nova Scotia
    El Paso Corp. and Marathon Oil Co. Friday said they have agreed to conduct a feasibility study for a subsea pipeline route to transport natural gas from Nova Scotia to the northeastern US. The Maritimes & Northeast Pipeline Ltd. currently moves gas from Sable Island field off Nova Scotia to New England.
  • 05/02/2001 -- OTC panel says technology challenges require broader input
    Oil and gas companies must look beyond themselves when it comes to research and development, panelists in an Offshore Technology Conference technical session agreed Wednesday. Operators said they look to service companies, universities, national labs, and innovative technology entrepreneurs for solutions to problems.
  • 05/02/2001 -- Herold says US reserve replacement costs fell 8% in 2000
    John S. Herold Inc. reports that despite a 150% increase in capital spending to $50.7 billion, reserve replacement costs dropped 8% to $4.73/boe in 2000 for the top 50 US exploration and production companies. Its annual survey said reserve replacement rates set records, with companies replacing 272% of oil and 251% of gas production.
  • 05/17/2001 -- Hovensa refinery fire cuts gasoline production by 30,000 b/d
    A Tuesday fire at Hovensa LLC in St. Croix, US Virgin Islands, has reduced gasoline production by 30,000 b/d, but it has not affected oil processing, an Amerada Hess Corp. spokesman in New York said Thursday. Hovensa is a joint venture between Amerada Hess Corp. and Petroleos de Venezuela SA.
  • 05/25/2001 -- China opens six Tarim gas blocks for foreign investment
    China revealed details of a proposal to open six natural gas blocks in northwestern China's Tarim basin for foreign investment.
  • 05/24/2001 -- ExxonMobil plans to appeal gas royalty owners' class action lawsuit
    ExxonMobil Corp. Thursday said it will appeal a federal judge's certification of a nationwide class action suit filed by gas royalty owners against Exxon Corp., now ExxonMobil Corp. The law firm Fleming & Associates LLP, Houston, filed the suit on behalf of the plaintiffs, which attorneys estimate at nearly 70,000.
  • 05/21/2001 -- Finance/Companies news briefs, May 21
    Denerco Oil ... Intrepid Energy North Sea ... Norway Petroleum Fund ... CTE ... Osinerg ... Serpet Consult ... Perupetro ... Australian Worldwide Exploration ... Macquarie Equity Capital Markets ... National Petrochemical ... Vanco CI-112 ... Xpronet ... PETROCI ... and more
  • 05/08/2001 -- Berry Petroleum blames California electricity crisis for profit drop
    Berry Petroleum Co., Taft, Calif., said first-quarter net income dropped 44% from last year because of an after-tax charge of $4.2 million related to non-payment from Berry's electricity customers. Berry reported net income for the quarter ended Mar. 31 of $5 million, or 23¢/share, down from $8.9 million, or 40¢/share.
  • 05/03/2001 -- National Fuel Exploration to acquire Player Petroleum
    National Fuel Exploration Corp., a subsidiary of Buffalo, NY-based Seneca Resources Corp., has agreed to acquire Player Petroleum Corp., Calgary, in a transaction worth $165 million (Can.).
  • 05/24/2001 -- Spinnaker makes four Gulf of Mexico discoveries
    Spinnaker Exploration Co., Houston, announced it has made four discoveries in the Gulf of Mexico. Three of the operations established new fields and one a deeper pool discovery.
  • 05/09/2001 -- Exploration/Development news briefs, May 9
    ABB Offshore Systems ... Kværner ... BP Brasil ... Petroleo Brasileiro ... Esso Brasil ... TotalFinaElf ... Lexxor Energy
  • 05/07/2001 -- Exploration/Development news briefs, May 7
    National Iranian Oil ... Ensign Geophysics ... Geopet ... Perupetro ... Texas Railroad Commission ... Goodrich Petroleum ... Ivanhoe Energy ... Aera Energy ... Esenjay Exploration ... Ocean Energy... Swift Energy ... Gulf Canada Resources
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