More Drilling Operations News

Parker Drilling-Saipem JV snags Karachaganak contract

Jul 26, 2000 The Karachaganak Petroleum Operation BV consortium this week awarded a three-year drilling contract to Tulsa-based Parker Drilling Co. and joint venture partner Saipem SPA of Italy. Under the contract, Parker and Saipem will provide five of six rigs and conduct work for Karachaganak Integrated Organization on the Karachaganak development project near Aksai, western Kazakhstan.

Finance/Companies news briefs, Aug. 1

Aug 1, 2000 Pembina Pipeline � Federated Pipe Lines � Imperial Oil � Anderson Exploration � Cambridge Energy � Enterprise Products Partners � Hawks Industries � Universal Equities Consolidated � David H. Peipers � The Cornerhouse � The Winsome LP � Vectren Enterprises � Haddington Energy Partners � Chase Capital Partners � Nuevo Energy � Mariner Energy � Shell Exploration & Production � Agip Petroleum

Diamond Offshore to upgrade Ocean Baroness semi

Aug 8, 2000 Diamond Offshore Drilling Inc., Houston, said Monday it has awarded a contract to Keppel Fels Ltd., Singapore, for the upgrade of its Ocean Baroness semisubmersible drilling rig to fifth-generation capabilities for deepwater drilling. The upgrade is estimated to cost about $180 million and to take 18 months, including mobilization to the Singapore shipyard. The semi will leave the Gulf of Mexico within 30 days.

IEA drops 2000 oil demand estimate; raises supply outlook

Aug 9, 2000 The International Energy Agency has revised its forecasts of oil supply and demand for 2000, calling its new demand projection 'conservative' and its supply prediction 'optimistic.' Higher oil prices have boosted investments, especially in the areas of field maintenance, development drilling, and oil field equipment. But, warns IEA, 'It is unlikely this increase can be repeated or is sustainable over the medium term.'

corrected: Transocean Sedco Forex to acquire R&B Falcon in $8.8 billion deal

Aug 21, 2000 Transocean Sedco Forex Inc. has agreed to acquire R&B Falcon Corp. in a $8.8 billion deal that would make it the third-largest oil field service company in the world�behind Halliburton Co. and Schlumberger Ltd.�as well as the largest offshore drilling contractor, officials said Monday.

Norsk Hydro to explore Iran's Anaran region

Aug 30, 2000 Norsk Hydro AS has won the tender to explore the Anaran region, located near the Iranian western border city of Dehloran in Ilam province, said Abdulkarim Garavand, governor of the city, last week.

Drilling/Production news briefs, Sept. 7

Sep 7, 2000 Keppel Fels � Transocean Sedco Forex � Caspian Shipyard Co. � SOCAR ... Lukoil � Petroleum Geo-Services ... UTI Energy ... UHC New Mexico

Mitchell Energy completes system expansions

Sep 11, 2000 Mitchell Energy & Development Corp., The Woodlands, Tex., said Monday it has completed two pipeline system expansion projects in North Texas, enabling the firm to boost its natural gas sales and NGL production.

North Leven find for Talisman

Sep 13, 2000 Talisman Energy UK Ltd., the North Sea E&P arm of Canada's Talisman Energy Inc., has made an oil discovery not far from its Clyde field. The North Leven prospect, spudded from the Clyde platform via the 30/17b-A32 extended-reach well, tested at a maximum rate of 12,080 b/d of 39� API crude. The well is current producing some 10,00 b/d through the Clyde facilities.

Pemex launches deepwater drilling program

Sep 15, 2000 During the next 7-10 years, Pemex plans to drill five deepwater wildcats in the Gulf of Mexico in 600-1,400 m of water, a company official indicated Thursday at a Houston conference. Reporters were banned from the presentation by Rafael Navarro III, a petroleum engineer for Pemex E&P, at the 5th Annual Deepwater Technologies & Developments Conference presented by Strategic Research Institute. But copies of his slide presentation were in the book of proceedings provided to attendees.

Fitch IBCA remains cautious on oil field service sector outlook

Sep 18, 2000 The improvement in energy industry commodity prices and industry fundamentals have strengthened the performance of the oil field services sector the past 6 months. But Chicago-based ratings service Fitch IBCA, Duff, & Phelps said it's taking a wait-and-see approach to making possible changes to ratings of the 50 oil service companies it follows.

Kuwait to invite observers to monitor drilling

Sep 20, 2000 Kuwait took the unusual step Tuesday of issuing a press release to announce its intention to invite neutral observers to witness its drilling operations along its border with Iraq. Recently Iraq complained Kuwait has used horizontal wells to drain reserves on its side of the border, which Kuwait denied. Kuwait said it wants to prove the falsity of the accusations.

Baker Hughes considers 'fixing' division, selling segments

Sep 24, 2000 Baker Hughes Inc. has one division�Inteq�that must be fixed, and two segments�its oil and gas properties and the Baker Process division�that should be sold. But the rest of the firm holds much promise for the current rebound, said Michael E. Wiley, the new chairman, president, and CEO.

Rig company: Drilling activity, day rates up

Sep 29, 2000 The good news is that US drilling activity is up a record 41% from year-ago levels, but the best news is that day rates are up, too, and likely to continue rising with the available rig fleet at an all time low, reported officials of Reed-Hycalog, a unit of Schlumberger Ltd., in their annual rig census.

Halliburton plans two new cementing unit designs

Oct 3, 2000 Two new Halliburton Co. onshore cementing pumping unit designs will feature updated technology and safety features. The company told the Society of Petroleum Engineers annual meeting on Monday that more than 60 of the new units will be manufactured and deployed throughout North American markets over the next year.

Market Connection

Refinery Units and Equipment for Sale (PA). Pictured: LSG: Gasoline Desulfurizer, 65,000 BPD.

Refinery Units and Equipment for Sale (PA)

Refinery Units and Equipment for Sale (PA). Pictured: LSG: Gasoline Desulfurizer, 65,000 BPD.

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