Drilling Production 2002 P

02/25/2002 -- Open markets
As policy-makers look to avoid another Enron Corp. mess, the regulatory spotlight could turn toward improving energy market transparency.
02/21/2002 -- Shell's Brutus TLP shut in for repairs
Shell Exploration & Production Co. (Sepco) has confirmed it shut in its Brutus tension leg platform (TLP) on Feb. 12 because of valve failures in the production processing system. During the shutdown, work will be initiated to expand the platform's oil production capacity to 130,000 b/d from 60,000 b/d.
02/19/2002 -- DOE selects 2 new technical aid projects for independents
The US Department of Energy Monday added 2 new projects to its ongoing program to help smaller independents test higher-risk technologies that may boost production from marginal wells. Woolsey Petroleum Corp., Wichita, and Tenneco Energy LLC, Wheat Ridge, Colo., received grants.
02/19/2002 -- MMS issues final notice for central Gulf of Mexico lease sale
The US Minerals Management Service issued a final notice for central Gulf of Mexico Lease Sale 182, scheduled for Mar. 20 in New Orleans. The sale will offer 4,447 unleased blocks covering 23.4 million acres on the gulf's Outer Continental Shelf off Louisiana, Mississippi, and Alabama.
02/19/2002 -- BP outlines oil field pipeline plans in deepwater Gulf of Mexico
BP PLC outlined plans late Monday for the construction of three crude oil pipelines that will carry oil production from the firm's major discoveries in the deepwater Gulf of Mexico.
02/18/2002 -- Senate Democrats introduce California-Gulf of Mexico oil lease swap bill
Senators from Louisiana and California last week introduced legislation to close a decades-old, billion-dollar dispute between industry and California over offshore oil leases. It directs the Secretary of the Interior to provide oil companies holding California leases with a swap of equivalent value in the Gulf of Mexico within 30 days of the bill's passage.
02/16/2002 -- Greenhouse gas emissions market could approach $1 billion, traders say
Wind energy projects are among those qualifying for emerging greenhouse gas emissions trading programs. Photo courtesy World Bank
02/15/2002 -- Decline of land gas drilling still pulls down US rig count
The continued downward spiral of land drilling activity dragged down the weekly US rig count, Baker Hughes Inc., Houston, reported Friday.
02/14/2002 -- Industry officials expect oil and gas markets to rebound in last half of 2002
Industry executives and analysts apparently are convinced that both international oil and US natural gas markets will rebound in the second half of this year.
02/14/2002 -- Nexen reports strong net income in 2001, replaces 137% of production
Nexen Inc., Calgary, declared net income of $30 million (Can.) for the fourth quarter 2001 and $450 million for the full year 2001 on revenue of $515 million and $2.7 billion respectively. It said last year's results were the second best in its history.
02/14/2002 -- US public land agencies encouraging coalbed methane plays
Expanding coalbed methane production from public lands remains an important goal for the Bush administration, officials have told Congress.
02/13/2002 -- Calpine reports working capital now positive in amended filing
Independent power producer Calpine Corp. amended its third quarter financial report to include additional information requested by the US Securities and Exchange Commission. The company's shares closed down 6.78% to $7.98 in trading on the New York Stock Exchange Wednesday, compared to a 52-week high of $58.04/share.
02/13/2002 -- Apache finds another Lower Cretaceous Flag oil field off Australia
Apache Corp. has a discovery in the Carnarvon basin off Western Australia. Apache said this is its fourth commercial find there in the last year.
02/13/2002 -- Yukos, MOL to spend $300-350 million on western Siberian field
Russian company OAO NK Yukos and Hungarian company MOL PLC have agreed to jointly further develop Zapadno-Malobalysk field in Russia. They will invest $300-350 million in the project.
02/13/2002 -- API says oil output rise, warmer winter slashed January imports 11%
The American Petroleum Institute said Wednesday that a rise in US production and a warm winter combined to slash petroleum imports 11% in January. It said a 30.9% drop in imported refined products underscored the current US consumer demand situation.
02/13/2002 -- Industry groups want Congress to update offshore drilling rules
A coalition of industry trade groups representing majors and independents is unhappy with pending legislation designed to update federal coastal zoning laws. They say the bill may further discourage offshore drilling. Currently coastal states have broad authority to review or delay offshore drilling even if it is in federal waters.
02/12/2002 -- Officials say Russia will increase production to reclaim market share
Russia is ready to crank up its oil production despite any risk of a price war with Saudi Arabia, warned both government and industry officials from that country Tuesday at a Houston conference of oil and natural gas executives.
02/12/2002 -- Iran gives Sheer Energy approval for Masjed-I-Suleyman field work
Iran has granted approval for Sheer Energy Cyprus Ltd., a wholly owned subsidiary of Canadian company Sheer Energy Inc., to redevelop Masjed-I-Suleyman oil field under a buy-back contract.
02/12/2002 -- Exploration/Development news briefs, Feb. 12
Kerr-McGee ... FMC Technologies ... Hurricane Hydrocarbons ... BP ... Honeywell Industry Solutions ... Mustang Automation & Control ... Novus Petroleum ... Harken Energy ... Republic Resources ... and more.
02/12/2002 -- BP's profits plunge 46% in fourth quarter, pushing 2001 results lower
BP PLC Tuesday said its fourth quarter profits were badly hit by the falling world oil price, plunging 46% to $2.2 billion, but the company has more oil and gas development opportunities than it can undertake.

Home

General Interest

Exploration & Development

Drilling & Production

Processing

Transportation

Home

2002

Drilling Production 2002 P