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Drilling Production 2002 P7

  • Wed Jun 12 13:06:00 CDT 2002 -- ONGC to acquire drilling rig for deepwater probes
    India's Oil & Natural Gas Corp. (ONGC)—currently sitting on a tight, 4-year deepwater exploration schedule—said it expects soon to acquire a deepwater rig for $100-150 million.
  • Tue Jun 11 13:06:00 CDT 2002 -- Oxy claims record slimhole rotary steerable well in Oman
    Occidental of Oman Inc. and Schlumberger Oilfield Services claim to have achieved a world first for the successful geosteering of a 4,712 ft, 6 1/8-in. slimhole lateral well in Oman's Safah field.
  • Tue Jun 04 15:06:00 CDT 2002 -- Oklahoma legislature extends gross production tax rebates for deep natural gas wells
    The Oklahoma Independent Petroleum Association (OIPA) has praised the Oklahoma legislature's recent passage of a statute containing tax incentives to spur natural gas exploration.
  • Fri May 31 00:05:00 CDT 2002 -- Recent oil market bearishness has limits
    Recent bearishness in oil markets may prove short-lived--and may be the breathing space markets needed.
  • Fri May 24 00:05:00 CDT 2002 -- OPEC restraint sowing seeds for market share war
    OPEC's price restraint today may be sowing the seeds of tomorrow's market share war.
  • Tue May 21 10:05:00 CDT 2002 -- Newfoundland's first onshore oil, gas production begins
    Canadian Imperial Venture Corp. completed the commissioning of existing facilities and was granted all necessary approvals and permits to begin production of oil and natural gas from Garden Hill field in western Newfoundland.
  • Tue May 14 16:05:00 CDT 2002 -- DOE announces cooperative agreement to boost geothermal energy production
    Sec. of Energy Spencer Abraham announced a cooperative agreement to develop and demonstrate an Enhanced Geothermal System (EGS) to boost production of geothermal energy in California.
  • Tue May 14 16:05:00 CDT 2002 -- Teton Petroleum reports Siberian production surpasses 4,000 b/d
    Teton Petroleum Co., Steamboat Springs, Colo., announced its field production in western Siberia has increased to 4,080 b/d of oil, with 1,020 b/d net to Teton.
  • Thu May 09 15:05:00 CDT 2002 -- BP raises Atlantis reserves estimate, moves forward on development planning
    BP PLC has updated reserves figures for its Atlantis discovery in the Southern Green Canyon region of the Gulf of Mexico to 575 MMboe. Initial estimates of Atlantis reserves were 300 MMboe.
  • Wed May 08 08:05:00 CDT 2002 -- Statoil awards maintenance, modification contracts
    Statoil ASA awarded contracts worth $330 million to ABB Group for maintenance and modification work on six oil and natural gas platforms in the North Sea and at the Kollsnes gas plant near Bergen, Norway.
  • Tue May 07 13:05:00 CDT 2002 -- OTC: Compact well designs will lead the trend for deepwater
    The economics of deepwater development will demand compact well demand compact well designs. Technology advances will make more-slender and smaller wells possible, reducing wellbore volume by as much as 40%. That was the message delivered by ABB Vetco Gray Vice-Pres. Norman Brammer at Monday's Offshore Technology Conference topical luncheon on "Deepwater Drilling Systems: Evolution and Integration with Production Systems."
  • Tue May 07 13:05:00 CDT 2002 -- Burlington Resources signs first long-term onshore natural gas sales agreement in China
    A unit of Burlington Resources Inc., Houston, has signed a field development-linked natural gas purchase and sales agreement with PetroChina Company Ltd., marking the first long-term agreement of its kind in China.
  • Tue May 07 12:05:00 CDT 2002 -- Petrobras claims deepwater installation record
    Petrobras Monday claimed a world record in ultradeep waters for the installation of a subsea natural gas lift manifold at a depth of 1,885 m (6,184 ft.) in Roncador field in the Campos basin off Brazil.
  • Fri May 03 15:05:00 CDT 2002 -- US drilling activity increases for fourth consecutive week
    US drilling activity continued inching up for the fourth consecutive week, with 776 rotary rigs working, officials at Baker Hughes Inc., Houston, reported Friday.
  • Fri May 03 00:05:00 CDT 2002 -- US natural gas price behavior counterintuitive
    Natural gas prices are behaving in a counterintuitive way, and the outlook is for continued uncertainty.
  • Thu May 02 14:05:00 CDT 2002 -- US will likely face 'major' natural gas supply problems, analyst says
    So far this year, US natural gas production is declining faster than first anticipated, said Raymond James & Associates Inc. in a recent report. And with this fall in gas supplies, gas prices are expected to creep higher later in the year, RJA said: "For the past 6 months, our mantra. . .has been that natural gas will be the key driver of US energy stocks and that lower US natural gas supply will drive gas prices higher."
  • Wed May 01 16:05:00 CDT 2002 -- Rodríguez appointment locks Venezuela to OPEC policy
    In his first meeting with the press since being named president of Petroleos de Venezula SA, Alí Rodríguez Araque last week emphasized that Venezuela still firmly supports the objectives and decisions of the Organization of Petroleum Exporting Countries.
  • Mon Apr 29 11:04:00 CDT 2002 -- Analyst: US oil and gas industry entering long-term recovery
    Natural gas prices in the US will recover sharply this year. Next year promises to be a very good year for the number of drilling rigs working and for the use of coiled tubing services. Oil and gas supply and demand fundamentals in 2003 should yield replacement-cost pricing for rigs. These are all early signs of a long-term recovery beginning for the oil and gas industry.
  • Fri Apr 26 12:04:00 CDT 2002 -- US rig count climbs for third consecutive week
    The US rig count continued to climb for the third consecutive week, with an increase in drilling for natural gas, officials at Baker Hughes Inc., Houston, reported Friday.
  • Fri Apr 26 00:04:00 CDT 2002 -- Canadian gas supply strength could keep lid on gas price upturn
    Surprising strength in Canadian gas production may keep a lid on the US natural gas price recovery this year.

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