Drilling Production 2002 P

04/16/2002 -- Tulsa conference discusses advances in improving oil recovery
Oil recovery factors for many of the world's oil fields have improved over the years, but implementing new technologies, expanding existing technologies to other reservoirs, and understanding the processes better can improve recovery further. That can be gleaned from many of the papers presented at the Society of Petroleum Engineers and US Department of Energy 13th Symposium on Improved Oil Recovery this week in Tulsa.
04/16/2002 -- Marathon abandons well on Annapolis prospect off Nova Scotia
Marathon Canada Ltd., a wholly owned subsidiary of Marathon Oil Co., has elected to plug and abandon its Annapolis B-24 deepwater exploratory well off Nova Scotia for mechanical reasons. The move followed a detailed analysis of the wellbore's condition following a gas kick on Mar. 24.
04/16/2002 -- XTO Energy buys properties from CMS, swaps some assets with Marathon Oil
XTO Energy Inc. has agreed to buy coalbed methane holdings in the Powder River basin for $101 million from CMS Oil and Gas Co. In turn, XTO Energy agreed to swap those properties with Marathon Oil Co. for oil and natural gas properties in eastern Texas and northern Louisiana.
04/16/2002 -- Long-term impacts of Chavez return uncertain
Uncertainty clouds the outlook for Venezuela's oil policy in the wake of last week's abortive coup.
04/15/2002 -- Market watch: Oil energy futures fall, then rebound on Venezuelan upheaval
Oil futures prices began a rebound today after dropping sharply at the end of last week when Venezuelan President Hugo Chavez resigned under military pressure and a transitional government was named for what proved to be less than 48 hr.
04/12/2002 -- US rig count ascends again, aided by increased land drilling
US drilling activity increased this week by 9 rigs, with 747 rotary rigs reported drilling in the US and its waters, Baker Hughes Inc., Houston, said Friday. A year ago, the US rig count stood at 1,198.
04/10/2002 -- Anadarko starts up 75,000 b/d production train at Algerian oil field
Anadarko Petroleum Corp. has started a fourth oil production train at Hassi Berkine central processing facility (CPF) in Algeria. Startup of the 75,000 b/d train—which ties in production from five satellite fields on Block 404—will eventually increase output from the four-train CPF to 285,000 b/d of oil, Anadarko said.
04/10/2002 -- Pioneer to acquire deepwater gulf, W. Texas field stakes
Pioneer Natural Resources Co., Dallas, reported Tuesday that it will spend $193 million to acquire working interests in natural gas properties in the Gulf of Mexico and West Texas.
04/09/2002 -- Olympic Peru gears up for first sales of nonassociated gas
US-based Olympic Peru Inc plans to begin its first commercial sales of nonassociated gas by mid-April, when it expects to have its final technical certificate from Osinerg, Peru's organization for the supervision of the energy industry.
04/08/2002 -- BP, Rowan reach agreement on Gorilla V jack up rig dispute
BP PLC and its partner companies will pay Rowan Cos. Inc. $175 million as part of a settlement that resolves a long-standing dispute over Rowan's Gorilla V jack up rig.
04/08/2002 -- EIA says summer gasoline prices likely lower than last year
US gasoline pump prices for spring and summer 2002 are expected to average $1.46/gal, about 8¢ lower than last year's average of $1.54/gal, according to new Energy Information Administration projections. But EIA cautioned that tightening oil markets worldwide have already moved gasoline prices up rapidly this spring from winter lows.
04/05/2002 -- Interior, industry says support waning for lease swapping proposals
US government and industry officials said support in Congress is waning for various lease "swapping" proposals now being considered as the Senate deliberates a comprehensive energy bill this spring. Senators from Louisiana and California wanted to see legislation that closed a decades-old, billion-dollar dispute.
04/05/2002 -- US drilling activity resumes its downward spiral
US drilling activity declined this week, wiping out last week's gain that was the first after 9 weeks of straight losses, officials of Baker Hughes Inc., Houston, reported Friday. There were 738 rotary rigs drilling in the US and its waters this week, 23 fewer than last week and down from 1,200 a year ago.
04/04/2002 -- Market watch: Energy futures prices undergo corrections
Energy futures prices regressed Wednesday as international markets adjusted from earlier spikes this week. The May contract for benchmark US sweet, light crudes dropped 15¢ to $27.56/bbl on the New York Mercantile Exchange, while the June position lost 18¢ to $27.66/bbl.
04/03/2002 -- Talisman produces first oil from Hannay field in North Sea
Talisman Energy (UK) Ltd., a unit of Talisman Energy Inc., Calgary, reported bringing Hannay field on production in the central North Sea. The field—which lies on UK Continental Shelf Block 20/5c about 13.5 km northwest of the Talisman-operated Buchan Alpha facility—is producing 15,000 b/d of oil from a single well, which is constrained by limits on the Buchan facility, Talisman reported.
04/03/2002 -- US natural gas production decline accelerating, analyst contends
US natural gas production is on the decline, and the decline is accelerating rapidly, according to preliminary results of a Raymond James & Associates Inc. first quarter survey of 30 of the largest US natural gas producers.
04/02/2002 -- Several variables behind 50%+ jump in US natural gas prices since mid-February
Several variables have resulted in natural gas prices rising by more than 50% on the New York Mercantile Exchange since mid-February. Chief among them are a 30% spike in crude oil prices, tensions in the Middle East, and concerns over US nuclear power capacity.
04/02/2002 -- Lehman: Canadian natural gas production gaining momentum
Canadian natural gas production has gained momentum despite a slow start in January, thanks in part to the recently completed pipeline expansion at Ladyfern field in northeastern British Columbia, Lehman Bros. Inc. analyst Thomas Driscoll said.
04/02/2002 -- CNPC to invest $700 million in Sino-Russia oil pipeline
State-owned China National Petroleum Corp. has earmarked $700 million to invest in a crude oil pipeline linking Russian oil production with refineries in northern China. Russian companies will invest another $1 billion in building the 2,400 km pipeline linking Angarsk oil field in Western Siberia's Irkutsk region with refineries near China's top producing oil field complex at Daqing.
04/01/2002 -- Suncor's outage could make it miss 2002 oil sands production goal
Last week's temporary outage at Suncor Energy Inc.'s oil sands facility in northern Alberta could prevent the company from reaching its 2002 production target. Partial production resumed Mar. 25 from the Suncor oil sands plant following a Mar. 20 power outage that interrupted the plant's operations for about an hour, Suncor reported.

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Drilling Production 2002 P