RIGZONE Industry News

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=09Friday December 21, 2001=09Petrocom =09=09=09
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[IMAGE]=09=09 [IMAGE] [IMAGE] In This Issue [IMAGE] [IMAGE] =
[IMAGE] Current Oil and Gas Industry News T! op Stories for the Past=
7 Days Featured Events and Conferences What's in Store - Books & More =
Featured Employment Opportunities Surplus Oilfield Equipment For Sale World=
wide Offshore Rig Utilization Oil & Gas Prices [IMAGE] [IMAGE] I=
ndustry Headlines [IMAGE] [IMAGE] Gazprom To Borrow $100 Billion=
Rubles to Finance Exploration Gazprom is seeking to borrow $100 billion r=
ubles to finance exploration and increase natural gas output in 2002. Oman=
to Cut Production by 40,000 bpd Oman pledges to cut an additional 15,000 =
bpd bringing its total production cut to 40,000 bpd. [IMAGE] [IMAGE] =
advertisement Energy Graphics, Inc. announces the release of Version 5 of =
its INTELLEXTM Report oil and gas data reporting software for the PC. This=
release contains major enhancements, including multi-color lease maps and =
the ability to create reports on field and reservoir data from a new databa=
se product named FieldBaseTM. For more information, visit the Energy Graphi=
cs web site or send an email to bmccallum@energygraphics.com . E=
xploration [IMAGE] [IMAGE] [IMAGE] Petrobras Acquires 75% Stake i=
n Block OPL324 Offshore Nigeria Petrobras has inked a deal for a 30-year c=
ontract on block OPL324 offshore Nigeria. The company would have a 75% int=
erest in the block and serve as operator. ENI and NNPC Form Exploration Jo=
int Venture ENI and Nigerian National Petroleum Corp. and formed an allian=
ce to explore for Block 244 offshore Nigeria. Shell Awards Landmark E?Data=
Contract Landmark has been awarded a three-year E?data management contrac=
t by Shell. Landmark will manage over two terabytes of seismic data using =
the PetroBank system. Statoil Awards Transocean Searcher Mikkel Work The =
Transocean Searcher will be headed to the Mikkel field during the third qua=
rter of 2002 to drill and complet! e three wells for Statoil. [IMAGE] =
[IMAGE] Production [IMAGE] [IMAGE] [IMAGE] Statoil Orders T=
wo More Carriers for Snohvit Statoil and its partners have entered into an=
agreement with K-line and Mitsui for the construction of two new LNG carri=
ers to be used on the Snohvit field in the Barents Sea. Conoco Acquires Ad=
ditional Interests Offshore Vietnam Conoco Inc. announced its agreement wi=
th Statoil ASA to purchase a portion of its interests in the $1.3 billion N=
am Con Son natural gas project, offshore Vietnam. [IMAGE] [IMAGE] =
Company & Financial News [IMAGE] [IMAGE] [IMAGE] Grey Wolf Incr=
eases Credit Faci! lity Grey Wolf has amended its $50 million credit facil=
ity with its existing lender to increase the amount available under the fac=
ility to $75 million and extended the term to January 2006. Wellstream Ac=
hieves ISO 14001 at UK Facility Halliburton's Wellstream business unit ach=
ieves ISO 14001 and OHSAS 18001 certifications at its UK facility. Landmar=
k and SGI Jointly Market GeoProbe Software Landmark and SGI team up to mar=
ket the GeoProbe visualization software that was developed by Magic Earth. =
[IMAGE] [IMAGE] advertisement A National-Oilwell designed, 1992 buil=
t modular offshore drilling rig is available for sale direct from the manuf=
acturer. This rig drilled only 5 wells from the Draugen platform in the No=
rwegian sector of the North Sea. Click on the link below for full details,=
photos and seller contact information: http://www.rigzone.com/market/sur=
plus_listing.asp?eq_id=3D397 Last 7 Days Top Stories [IMAGE] =
[IMAGE] [IMAGE] Devon Energy to Sell Latin American Assets Devon En=
ergy is planning to sell several of its Latin American assets, located in A=
rgentina and Brazil. PDVSA to Spend $375 Million Offshore Trinidad PDVSA =
plans to spend $375 million over the next three years on a natural gas expl=
oration project offshore Trinidad. Murphy Plans to Spend $866 Million in 2=
002 Murphy Oil Corporation announces a capital program of $866 million for=
2002, essentially level with spending during 2001. Energy Partners to Acq=
uire Hall-Houston Energy Partners has entered into an agreement to acquire=
Hall-Houston Oil Company in a deal valued at approximately $88.3 million. =
Conoco To Dev! elop Deepwater Magnolia Field Conoco and Ocean Energy to d=
evelop the Magnolia Field in the deepwater Gulf of Mexico at a cost of $600=
million. Landmark Awarded Brazilian E?Data Management Contract Landmark =
has been awarded a four-year E?data management contract by the Brazilian Ge=
ological Service to organize and manage all Brazilian seismic and well E?da=
ta on behalf of ANP. Santos and Esenjay Make Major Gas Discovery in Texas =
The Runnells #7 well tested at 22 million cubic feet of natural gas and ov=
er 500 barrels of condensate per day. Sakhalin-2 Reports 22 Percent Rise i=
n Production A consortium led by Shell reports that production offshore Ru=
ssia's Sakhalin Island has increased by 22 percent this year from 1.67 mill=
ion tons to 2.0 m! illion. Burlington to Spend $1.3 Billion in 2002 Burli=
ngton Resources plans to spend $1.3 billion in 2002. Most of the E?budget =
will be spent on development programs in Canada, Algeria, the East Irish Se=
a and the United States. Petrobras Looking to Increase Production Outside =
Brazil Petrobras is in the market to purchase a medium-sized oil company w=
ith assets in the Gulf of Mexico. ExxonMobil Completes Several Wells in th=
e Gulf of Mexico ExxonMobil Corporation announced the completion of the Ha=
wkes and Timber Wolf exploration wells in the Mississippi Canyon area of th=
e Gulf of Mexico. Nexen Plans to Spend $1.24 Billion in 2002 Nexen Inc. a=
nnounced a 2002 capital investment ! program designed to deliver long-term =
value growth for shareholders. [IMAGE] [IMAGE] advertisement "From T=
he Rigzone Career Center" I am a 1983 Louisiana Tech Petroleum Engineering =
graduate with 18 years of Amoco, Conoco and Ocean Energy deepwater drilling=
engineering experience. I have been and would like to continue to be an =
effective member of a drilling team involved with planning, rig selection, =
and operational performance measurement. Click here for detailed informati=
on regarding my experience and qualifications. Upcoming Oil & Ga=
s Industry Events [IMAGE] [IMAGE] [IMAGE] Jan. 22 Alliances an=
d Partnering in Oil & Gas Singapore Feb. 7 Marine Construction 2002 =
Houston Feb. 10 2002 SPE International Petroleum Conference & Exhibition=
in Mexico Villahermosa Feb. 26 2002 IADC/SPE Drilling Conference and E=
xhibition DallasMar. 10 AAPG Annual Meeting Houston Apr. 9 2002 SPE=
/ICoTA Coiled Tubing Conference and Exhibition Houston May. 6 Offshore=
Technology Conference 2002 Houston Aug. 27 ONS 2002 Conference and Exh=
ibition Stavanger Oct. 6 Society of Exploration Geophysicists Annual M=
eeting Salt Lake City Oct. 15 Permian Basin International Oil Show Ode=
ssa list your conference view upcoming events [IMAGE] [IMAGE] [IMA=
GE] [IMAGE] [IMAGE] Halliburton INTEC Quest Offshore Horizon Offshore=
Global Completion Service [IMAGE] [IMAGE] promote your company =
[IMAGE] [IMAGE] [IMAGE] Progressing Cavity Pumps [IMAGE] [IMAGE] Oil a=
nd Gas Journal Databook, 2001 Ed. [IMAGE] [IMAGE] Formation Invasion [IM=
AGE] [IMAGE] [IMAGE] more products [IMAGE] [IMAGE] [IMAGE] fea=
tured equipment: ME Portable Top Drive [IMAGE] Cabot 250 Workover and Dr=
illing Rig [IMAGE] [IMAGE] [IMAGE] more equipment [IMAGE] [IMA=
GE] featured jobs: - Forward Trader - Estimator - Control System Speci=
alist more hot jobs << featured candidates: - International Purchasing=
& Materials Professional - Petroleum Engineer - Oilfield Consultant se=
arch fo! r candidates << [IMAGE] [IMAGE] [IMAGE] [IMAGE] Drillshi=
ps: 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) Severe Env.: 81.0% (17/21) [IMAGE] [IMAGE] view complete utiliza=
tion report [IMAGE] [IMAGE] Light Crude Oil: $19.25/BBL (-0.57%) Br=
ent Crude Oil: $19.13/BBL (5.11%) Natural Gas: $2.74/MMBtu (4.58%) Unle=
a! ded Gasoline: $0.55/gal (-1.79%) prices from: 12/20/2001 change since=
: 12/19/2001 [IMAGE] [IMAGE] [IMAGE] =09[IMAGE]=09=09
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ning or, advertise your upcoming industry conference. Click here for mor=
e information, send your press release to info@rigzone.com or call us at =
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