More Oil & Gas Exploration and Development News

HUNT PLANS TO EXPLORE JUNGLE FRONTIER AREA ON PERMIT IN GUYANA

Jan 22, 1990 Guyana has granted a petroleum exploration license and production sharing agreement to a unit of Hunt Oil Co., Dallas. The license awarded to Guyana Hunt Oil Co. covers 10,294 sq km, or 2,543,702 acres, encompassing all of the Takutu graben area in Guyana's dense jungle interior. The contract, effective Dec. 22, 1989, calls for an initial 4 year exploration term, with options for two more 3 year terms. It also calls for a 20 year production term.

CHINA EYES CHALLENGES IN REMOTE TARIM BASIN

Jan 22, 1990 China National Petroleum Corp.'s key oil and gas strike at 1 Tazhong in the Tarim basin of Northwest China presents the country with major challenges. The discovery, on China's largest known subsurface structure, caps a long history of exploration in the remote Tarim basin. Chinese geologists believe Tarim basin reserves may be 74 billion bbl of oil and 282 tcf of gas, respectively one seventh and one quarter of the national total.

ARKLA GAUGES STRIKES IN TUSCALOOSA, ARKOMA

Jan 29, 1990 Arkla Exploration Co., Shreveport, La., plans exploratory and development drilling this year near new field discoveries in Southwest Mississippi and East Central Arkansas. Arkla's 1-35 Robertson in Amite County, Miss., flowed at a rate of 265 b/d of oil and 232 Mcfd of gas with 1,751 psi flowing tubing pressure through a 12/64 in. choke from selective Cretaceous Tuscaloosa sand perforations at 12,148-158 ft. The Robertson discovery, drilled to 12,500 ft, is 3 miles south of the

BP FINISHES ANOTHER N. SEA HORIZONTAL WELL

Jan 29, 1990 BP Exploration has finished the North Sea's second horizontal well drilled by a semisubmersible rig. Site is in Cyrus field in U.K. North Sea Block 16/28, where BP drilled the sea's first horizontal well in summer 1988 in about 110 m of water (OGJ, Sept. 5, 1988, p. 28). The two wells eventually will produce Cyrus's 13 million bbl reservoir using the Seillean oil production vessel (OGJ, Oct. 2, 1989, p. 44). The company did not disclose a gauge for the latest well. The first well

OPERATORS PLAN U.S. DRILLING INCREASE IN 1990

Jan 29, 1990 John C. McCaslin Exploration Editor Operators expect to drill more wells in the U.S. this year than they did in 1989, when crude oil prices increased nearly 21%. The oil industry last year drilled more. wells than the 27,935 completions forecast at midyear but not as many as the 36,500 predicted at the year's start. The average Baker Hughes rig count last year sagged to a modern record low of 869.

SOVIET DEEP TEST RESUMES

Jan 29, 1990 The Soviet Union has resumed drilling at the world's deepest hole on the Kola Peninsula west of Murmansk. A Tass report said a rock sample has been recovered from a depth of 12,070 m (39,599 ft). Drilling in the Kola SG-3 well was suspended in December 1983 at 39,586 ft. Moscow said drilling was stopped to install more powerful rig components "and to enable scientists to conduct a number of experiments." Casing was run to nearly 9,000 m (29,527 ft). Casing of 245 mm diameter was

U.S. BRIEFS

Jan 29, 1990 A FEDERAL JUDGE in Los Angeles granted Mesa LP summary judgment in a lawsuit filed by Unocal Corp. in the wake of Mesa Partners II's attempt to acquire Unocal in 1985. Unocal had sought recovery under short swing profit provisions of Securities Exchange Act Section 16b, designed to prevent unfair use of information obtained through a person's relationship to the issuing corporation. KIMCO ENERGY CORP., Denver, formerly Henry Energy Corp., and Broken Arrow Petroleum Corp., Scottsdale,

COMPLEX GEOLOGY DISCUSSED BY NOTED ARABIAN SCIENTIST

Jan 29, 1990 Saleh M. Billo King Saud University Riyadh, Saudi Arabia The Arabian Gulf expands as an arm of the Arabian Sea between the Arabian Peninsula and southwest Iran (Fig. 1).

U.S. OIL DEMAND TO CLIMB IN 1990

Jan 29, 1990 Robert J. Beck Economics Editor Continued economic growth coupled with stable or slowly declining petroleum product prices will boost U.S. oil demand in 1990. Last year product demand grew minimally due to substantial increases in product prices and competition from other fuels in the industrial and utility markets. While demand grows, domestic supply will sag again.

U.S. MUST SLOW OIL IMPORT GROWTH

Jan 29, 1990 U.S. Department of Energy officials drafting a national energy strategy should pay close heed to new numbers reflecting the country's energy health. By the measure that should be most significant to policy makers, the patient is ill and getting worse. According to American Petroleum Institute, oil imports as a percentage of total deliveries reached 46% in 1989, just short of the record high 47.7% of 1977. Statistical adjustments to neutralize changes in stocks reverse the standings: Last

RECENT STRIKES FIRE IMPORTANT ARKOMA ERA

Jan 29, 1990 John C. McCaslin Exploration Editor Exploratory interest in the Arkoma basin of eastern Oklahoma and western Arkansas has never been as high as in these days of deeper wildcatting into Paleozoic rocks all the way down to the Cambro-Ordovician Arbuckle. Recent gas discoveries in the Oklahoma portion of the basin have set off one of the most active leasing and drilling forays in many years in the Mid Continent province. Each new well completion lends more information to the geologists who are

NORWAY'S STATOIL SHARPENS FOCUS ON U.S. MARKET FOR OIL AND GAS

Jan 29, 1990 Norway's Den norske stats oljeselskap AS sees the U.S. as a major market for its North Sea production. Statoil Pres. Harald Norvik told the Norwegian-American Chamber of Commerce in New York his company is still working on plans to ship liquefied natural gas to the U.S. Statoil anticipates increased oil and gas exports and is seeking wider trading for its Oseberg field crude. "We believe the U.S. will be an attractive market, and the 1990s will be an attractive time to enter that market,"

INTERNATIONAL BRIEFS

Jan 29, 1990 PHILLIPS Petroleum Co. Iran received a $92 million settlement from the Iran-U.S. Claims Tribunal in compensation for an expropriated one-sixth interest in two oil fields off Iran. A tribunal award of $110 million to Phillips last June did not dispose of a counterclaim by Iran for oil received by Phillips under purchase contract. The current settlement, minus a $1 million statutory fee deducted by the U.S. Treasury Department, disposes of all claims and counterclaims.

OGJ NEWSLETTER

Jan 29, 1990 New production facilities are planned for the Middle East in preparation for higher demand for crude from the region later in the decade. Arabian Petroleum Pipelines (APP) will boost capacity of the Sumed pipeline from the Gulf of Suez to the Mediterranean Sea to 2.4 million b/d from 1.6 million b/d during the next 3 years. In the Persian Gulf, Abu Dhabi Co. for Onshore Oil Operations (ADCO) will expand capacity of Bab onshore oil field and the Jebel Dhanna export terminal.

CHEVRON SETS 1990 SPENDING AT $4.3 BILLION

Jan 29, 1990 Chevron Corp. plans a slight increase in worldwide capital and exploratory spending to $4.3 billion in 1990 as it continues to restructure. The budget includes $2.2 billion for exploration and development, unchanged from 1989, and about $1.2 billion for refining and marketing, up about 26% from 1989. Chemical spending will be $380 million, unchanged from last year excluding the 1989 acquisition of Plexco, a polyethylene pipe and products manufacturer. The rest of the budget is for shipping,

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

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