Message-ID: <24922632.1075861064249.JavaMail.evans@thyme> Date: Wed, 2 Jan 2002 05:51:33 -0800 (PST) From: newsletter@rigzone.com To: scorman@enron.com Subject: RIGZONE Newsletter Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: newsletter@rigzone.com X-To: scorman@enron.com X-cc: X-bcc: X-Folder: \Shelley_Corman_Mar2002\Corman, Shelley\Deleted Items X-Origin: Corman-S X-FileName: scorman (Non-Privileged).pst RIGZONE DAILY NEWS -- TUESDAY, JANUARY 2, 2002 ------------------------------------------------------------ Daily News from the worldwide upstream oil & gas industry to view the complete version, please go to: http://www.rigzone.com/newsletter_show.asp?n_id=191 ------------------------------------------------------------ INDUSTRY HEADLINES ------------------------------------------------------------ SMEDVIG'S CEO RESIGNS Christian Bull Eriksson has announced that he will step down as CEO of Smedvig ASA effective immediately. http://www.rigzone.com/news/article.asp?a_id=2292 ENRON RECEIVES APPROVAL TO SELL TWO ASSETS On December 28th a judge approved the sale of two of Enron's assets at a value of $310 million. http://www.rigzone.com/news/article.asp?a_id=2291 U.S. RIG COUNT UP The number of rigs working in the U.S. this week rose by five to 887. http://www.rigzone.com/news/article.asp?a_id=2290 EXPLORATION ------------------------------------------------------------ HALLIBURTON INTRODUCES NEW PERFORATION FLOW LABORATORY Halliburton has added its Perforation Flow Laboratory to its PerfPro process to provide detailed instrumentation and controlled-laboratory conditions that can allow insight into physical phenomena occurring in the reservoir during complicated perforating and multi-phase flow events. http://www.rigzone.com/news/article.asp?a_id=2293 PRODUCTION ------------------------------------------------------------ OPEC AGREES ON PRODUCTION CUTS OPEC members have agreed to cut production by 6.5% for a six-month period beginning January 1, 2002. http://www.rigzone.com/news/article.asp?a_id=2295 OIL FLOWS FROM ECHO-YODEL FIELD Production has begun three months ahead of schedule for the Echo-Yodel field offshore Western Australia. http://www.rigzone.com/news/article.asp?a_id=2294 COMPANY & FINANCIAL NEWS ------------------------------------------------------------ NORTHERN PETROLEUM RAISES FUNDS FOR EXPLORATION UK minnow Northern Petroleum has raised GBP 135,000 from a new share issue for further exploration drilling on its Seven Heads prospect offshore Ireland. http://www.rigzone.com/news/article.asp?a_id=2298 ENDEAVOUR RESOURCES COMPLETES PRIVATE PLACEMENT Endeavour Resources has completed a private placement in the amount of C$165,000. http://www.rigzone.com/news/article.asp?a_id=2297 ALLIED OIL & GAS CORP. ACQUIRES 942235 ALBERTA LTD. Allied Oil & Gas will acquire 942235 Alberta Ltd. for C$2.65 per share. http://www.rigzone.com/news/article.asp?a_id=2296 GERMAN IN ELF SCANDAL POSTS 1 MILLION DOLLAR BAIL Former lobbyist for French oil company Elf Aquitaine, was placed under investigation - one step short of being charged http://www.rigzone.com/news/article.asp?a_id=2289 sponsored by: ************************************************************ A National-Oilwell designed, 1992 built modular offshore drilling rig is available for sale direct from the manufacturer. This rig drilled only 5 wells from the Draugen platform in the Norwegian sector of the North Sea. Click on the link below for full details, photos and seller contact information: ************************************************************ LAST 7 DAYS TOP STORIES ------------------------------------------------------------ PEMEX ENCOUNTERS NATURAL GAS DEVELOPMENT OPPOSITON Pemex runs into opposition on plans to raise the foriegn investment capital needed to for natural gas development plans http://www.rigzone.com/news/article.asp?a_id=2284 KINDER MORGAN BUYS TEJAS Kinder Morgan Energy Partners LP of Houston entered into an agreement to purchase Tejas Gas LLC for approximately $750 million in cash. http://www.rigzone.com/news/article.asp?a_id=2286 NEXEN SETS NEXT YEARS BUDGET Nexen's new capital budget is 1.24 billion dollars. About $240 million is scheduled for worldwide exploaration projects. http://www.rigzone.com/news/article.asp?a_id=2283 PATTERSON/UTI ENERGY, INC BUYS CLERE DRILLING COMPANY ASSETS PATTERSON-UTI ENERGY, INC. the second-largest operator of land-based oil and natural gas drilling rigs in North America, today announced the acquisition of 17 land-based drilling rigs from Cleere Drilling Company http://www.rigzone.com/news/article.asp?a_id=2281 ONGC AND UK BASED BG GROUP DISCUSS ENRON PROPERTIES India's state-run Oil and Natural Gas Corp remains open to continued discussions with UK's BG Group over the operatorship of the Panna-Mukta and Tapti oil and gas fields offshore western India http://www.rigzone.com/news/article.asp?a_id=2279 PETRONAS PROJECTS RATES FOR SOUTH CHINA SEA ANGSI FIELD Malaysia's state-owned Petronas expects the Angsi oil field in the South China Sea to produce 65,000 b/d of oil and 450-mil cu ft/day of natural gas at its peak. http://www.rigzone.com/news/article.asp?a_id=2280 REPSOL OFFSHORE EXPLORATORY LICENSES TOO CLOSE TO MORROCCO Morocco has denounced Spain's violation of the country's maritime territory after Madrid distributed offshore oil prospection licenses for the Canary Islands in Moroccan controlled seas. http://www.rigzone.com/news/article.asp?a_id=2285 DELTA PETROLEUM TO BUY PIPER PETROLEUM Delta Petroleum Corporation, an independent energy exploration and development company, has entered into an agreement to purchase Piper Petroleum Company, a privately owned oil and gas company headquartered in Fort Worth, Texas. http://www.rigzone.com/news/article.asp?a_id=2288 UPCOMING OIL & GAS INDUSTRY EVENTS ------------------------------------------------------------ Jan. 22 Alliances and Partnering in Oil & Gas Feb. 7 Marine Construction 2002 Feb. 10 2002 SPE International Petroleum Conference & E... Feb. 26 2002 IADC/SPE Drilling Conference and Exhibition Mar. 10 AAPG Annual Meeting Apr. 9 2002 SPE/ICoTA Coiled Tubing Conference and Exh... May. 6 Offshore Technology Conference 2002 Aug. 27 ONS 2002 Conference and Exhibition Oct. 6 Society of Exploration Geophysicists Annual Mee... Oct. 15 Permian Basin International Oil Show ------------------------------------------------------------ For details and more events, check out our Events Calendar: http://www.rigzone.com/news/event_home.asp RIGZONE - WHAT'S IN STORE ------------------------------------------------------------ - The North Sea Field Development Guide, 8th Ed. http://www.rigzone.com/store/product.asp?p_id=60 - Drilling Technology Series, Segment II: Routine Drilling Operations http://www.rigzone.com/store/product.asp?p_id=381 - World Deepwater Atlas http://www.rigzone.com/store/product.asp?p_id=616 RIGZONE FEATURED EQUIPMENT ------------------------------------------------------------ DELMAG HAMMERS Delmag D-22/30 Diesel Hammers http://www.rigzone.com/market/surplus_listing.asp?e=340 WEST AFRICA LOCATED COOPER LTO 750 This 1997 built Cooper LTO 750 is in excellent operating condition and is complete with drilling tools, workover tools and spre parts for international operations. http://www.rigzone.com/market/surplus_listing.asp?e=100 OFFSHORE RIG UTILIZATION ------------------------------------------------------------ Drill Ships To 5000': 50.0% (7/14) + 5000' : 100.0% (25/25) Semisubs 2nd Gen: 68.5% (50/73) 3rd Gen: 82.0% (41/50) 4th Gen: 100.0% (38/38) 5th Gen: 100.0% (7/7) Jackups To 200': 53.7% (36/67) 200' MC: 58.3% (14/24) 200' MS: 14.3% (3/21) 300' IC: 87.5% (84/96) +300' IC: 88.9% (48/54) Sev Env: 81.0% (17/21) ------------------------------------------------------------ View a complete utilization report at: http://www.rigzone.com/data/utilization_trends.asp OIL & GAS PRICES ------------------------------------------------------------ Light Crude Oil: $19.84/BBL (-5.07%) Brent Crude Oil: $19.90/BBL (-2.16%) Natural Gas: $2.57/MMBtu (-3.02%) Unleaded Gasoline: $.57/gal. 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