Prize Energy Corp., Grapevine, Tex., has earmarked $60 million for its capital drilling budget in 2001. This is a 40% increase over 2000's expenditure. In 2001, Prize will focus on development drilling and recompletions in the Permian Basin of West Texas, the onshore Gulf Coast area of South Texas and Louisiana, and the Mid-Continent area of Western Oklahoma and the Texas Panhandle. It expects to drill 185 wells.
India's Oil & Natural Gas Corp. plans to spend $645 million to redevelop the northern portion of Bombay High field under a plan submitted by UK-based technical consultants Gaffney, Cline & Associates. The government-owned company said last year it would redevelop both parts of Bombay High (OGJ Online, Nov. 20, 2000).
Petroleum Geo-Services said the upgrade of the Ramform Banff floating production, storage, and offloading vessel is complete and the vessel was will leave the shipyard mid-January. PGS said last year the modification would reduce the FPSO's roll motion by 50% and cost less than $20 million (OGJ Online, Sept. 7, 2000). Previously, the vessel was expected before yearend but was delayed by UK documentation requirements.