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IMPORTANT OIL & GAS NEWS

OIL & GAS NEWS ARCHIVE ... April - June 2000

1/97 - 6/97 7/97 - 12/97 1/98 - 3/98 4/98 - 6/98 7/98 - 9/98 7/98 - 12/98 1/99 - 3/99 4/99 - 6/99 7/99 - 9/99 10/99 - 12/99 1/00 - 3/00 4/00 - 6/00 7/00 - 9/00 10/00 - 12/00 1/01 - 3/01 current quarter

(6/30) ... Baker-Hughes reported U. S. rig count at 920, up 27 compared to last week (718 for gas and 202 for oil) ... Canada's rig count at 327, up 31 compared to last week ... Chesapeake Energy (Oklahoma City, OK) agreed to acquire Gothic Energy for approx $345 million with stocks to create the 10th largest natural gas producer in the U. S. ... Buckeye Pipe Line Co. completed the acquisition of 6 petroleum products terminals from Agway Energy Products LLC, those are located in Brewerton, Geneva, Marcy, Rochester, and Vestal in New York and Macungie in Pennsylvania ...
(6/28) ... AGA reported an injection of 73 BCF into the natural gas storage, representing 47.6% full or 1,567 BCF, up from 45.3% last week ... down 22.9% compared to last year of 2,033 BCF ... the DOE reported crude oil stocks up 0.3 MMB at 295.5 MMB, distillate stocks up 0.4 MMB at 103.8 MMB, unleaded gasoline stocks up 1.5 MMB at 204.3 MMB ... Stockholders of National-Oilwell and IRI International approved the merger of the two companies ...
(6/27) ... API reported crude oil stocks up 2.25 MMB, distillate stocks down 0.35 MMB, unleaded gasoline stocks up 1.77 MMB, and refinery capacity up 0.9% at 96.3% compared to prior week's ...
(6/23) ... Baker-Hughes reported U. S. rig count at 893, up 22 compared to last week (690 for gas and 203 for oil) ... Canada's rig count at 296, up 45 compared to last week ... Mina Al-Ahmadi Kuwait's biggest refinery with 485,000-B/D capacity was shut down due to an explosion caused by a gas leak Sunday morning, killing 4 ... A tanker carrying 1,300 tons of crude sank off the coast of Cape Town, South Africa on Friday, causing a 20-square mile spill toward Robben Island ...
(6/22) ... Ocean Energy, ExxonMobil, and Government of Equatorial Guinea announced production began from the first well on the new Jade platform in the Zafiro field of 12,000 B/D bringing the total field production to 112,000 B/D ... Plains Energy Services (Toronto) accepted the sweetened offer from Precision Drilling Corp. ...
(6/21) ... AGA reported an injection of 64 BCF into the natural gas storage, representing 45.3% full or 1,496 BCF, up from 43.4% last week ... the DOE reported crude oil stocks down 4.6 MMB at 295.2 MMB, distillate stocks down 1.5 MMB at 103.4 MMB, unleaded gasoline stocks up 0.1 MMB at 202.8 MMB ... OPEC members agreed to boost production by 3% or 708,000 Barrels per day beginning July 1st ...
(6/20) ... API reported crude oil stocks down 4.38 MMB, distillate stocks down 0.51 MMB, unleaded gasoline stocks up 0.36 MMB, and refinery capacity up 1.4% at 95.5% compared to prior week's ...
(6/19) ... Conoco agreed to acquire Norssk Hydro ASA's interests in the Britannia, Alba, and Gryphon offshore fields for approx $450 million ... Weatherford International agreed to acquire Alpine Oil Services Corp. for approx $55 million in stocks ...
(6/16) ... Baker-Hughes reported U. S. rig count at 871, up 31 compared to last week (666 for gas and 205 for oil) ... Canada's rig count at 251, down 60 compared to last week ... the U. S. Department of Energy approved the release of 500,000 barrels of oil from the Strategic Petroleum Reserve to Citgo's refinery in Lake Charles, Louisiana as Citgo requested due to supply problem due to ship channel blockage ... Conoco also requested a similar volume later ...
(6/15) ... Heritage Propane Partners, L. P. (Tulsa, OK) agreed to merge with US Propane creating the 4th largest domestic propane marketer covering 485,000 customers in 28 states ... Pinnacle Oil International, Inc. (Calgary) changed its name to Energy Exploration Technologies ...
(6/14) ... AGA reported an injection of 78 BCF into the natural gas storage, representing 43.4% full or 1,430 BCF, up from 41.0% last week ... the DOE reported crude oil stocks down 1.4 MMB at 299.8 MMB, distillate stocks up 2.4 MMB at 104.7 MMB, unleaded gasoline stocks up 1.4 MMB at 202.7 MMB ... Apache agreed to acquire oil and gas properties in the Permian Basin and South Texas, mostly in the Stratton Field, Agua Dulce, Texas from Collins & Ware for more than $300 million ... Samson Investments (Tulsa, OK) completed the acquisition of East Texas gas properties from Torch E&P and Bellwether Exploration for approx $10.5 million ...
(6/13) ... API reported crude oil stocks down 2.10 MMB, distillate stocks up 1.16 MMB, unleaded gasoline stocks down 0.5 MMB, and refinery capacity down 0.7% at 94.0% compared to prior week's ...
(6/9) ... Baker-Hughes reported U. S. rig count at 840, down 26 compared to last week (643 for gas and 197 for oil) ... Canada's rig count at 311, up 41 compared to last week ...
(6/7) ... AGA reported an injection of 78 BCF into the natural gas storage, representing 41.0% full or 1,352 BCF, up from 38.7% last week ... the DOE reported crude oil stocks down 4.0 MMB at 301.2 MMB, distillate stocks up 4.4 MMB at 102.5 MMB, unleaded gasoline stocks up 0.2 MMB at 201.3 MMB ...
(6/6) ... API reported crude oil stocks down 4.35 MMB, distillate stocks up 3.15 MMB, unleaded gasoline stocks up 1.49 MMB, and refinery capacity up 0.1% at 94.7% compared to prior week's ... Bargo Energy (Houston, TX) announced the completion of the sale of its properties in Ardmore Basin to Le Norman Partners for approx $32 million and the sale of its interest in the Russell Clearfork Unit to Cross Timbers for approx $3 million ...
(6/5) ... 3TEC Energy (Houston, TX) completed the acquisition of oil properties in the Glenwood and White Oak fields in East Texas for approx $55 million ...
(6/2) ... Baker-Hughes reported U. S. rig count at 862, up 2 compared to last week (668 for gas and 198 for oil) ... Canada's rig count at 270, up 60 compared to last week ... Canada's CGX Energy (Vancouver) offshore drilling platform was force to move out of the Suriname-Guyana disputed area by Suriname's navy ... Louis Dreyfus Natural Gas was announced to be the highest bidder with $133 million for oil and gas properties of the bankrupt Costilla Energy ...
(6/1) ... the DOE reported crude oil stocks down 4.6 MMB at 305.2 MMB, distillate stocks up 0.7 MMB at 98.1 MMB, unleaded gasoline stocks down 2.5 MMB at 201.1 MMB ...
(5/31) ... AGA reported an injection of 56 BCF into the natural gas storage, representing 38.7% full or 1,274 BCF, up from 37.0% last week ... API reported crude oil stocks down 1.74 MMB, distillate stocks up 1.21 MMB, unleaded gasoline stocks down 2.19 MMB, and refinery capacity up 0.1% at 94.6% compared to prior week's ...
(5/30) ... Unleaded gasoline futures closed at $1.0024/gallon, highest since August 1990 at $1.11/gallon ...
(5/26) ... Baker-Hughes reported U. S. rig count at 864, up 15 compared to last week (662 for gas and 202 for oil) ... Canada's rig count at 210, up 18 compared to last week ... Pure Resources, Inc. is the new company formed by the merger between Unocal's oil and gas exploration assets in the Permian Basin and the San Juan Basin with Titan Exploration ... Devon Energy (New York) agreed to acquire Santa Fe Snyder Corp. in a deal valued at $2.35 billion in stock plus $1 billion in debt assumption ...
(5/25) ... Inland Resources (Denver, CO) signed a Letter of Intent to acquire the 25,000-B/D refinery in North Salt Lake City, 9 gasoline stations, and oil & gas properties in the Uninta Basin, Utah from Flying J Inc. for approx $50 million in cash plus the assumption of $5.8 million in debt ...
(5/24) ... AGA reported an injection of 55 BCF into the natural gas storage, representing 37.0% full or 1,218 BCF, up from 35.3% last week ... the DOE reported crude oil stocks up 1.0 MMB at 309.8 MMB, distillate stocks up 1.3 MMB at 97.4 MMB, unleaded gasoline stocks up 1.1 MMB at 203.6 MMB ... Indo Pacific Oil & Gas, a subsidiary of Fortune Oil & Gas (Vancouver), agreed to acquire all the shares of GFB Resources (Java) Ltd from Carmanah Resources Ltd (Calgary) including the Bawean Production Sharing Contract which covers 1,180 square miles in the Java Sea ... Vastar Resources approved BP Amoco's offer at $83 per share for the remaining 19.1% shares that they have not owned ... RWE Energie AG agreed to acdquire Exxon Mobil's 25% ownership in Thyssengas, a German natural gas transmission, distribution, and storage company, increasing their ownership to 75% ...
(5/23) ... API reported crude oil stocks down 1.33 MMB, distillate stocks up 0.42 MMB, unleaded gasoline stocks up 1.38 MMB, and refinery capacity up 0.7% at 94.5% compared to prior week's ... Aspen Group Resources (Oklahoma City, OK) agreed to acquire 33 producing oil wells in the El Dorado field, Butler County, Kansas from Flowers Estate with $1 MM cash plus stock ...
(5/19) ... Baker-Hughes reported U. S. rig count at 849, up 19 compared to last week ... Canada's rig count at 182, down 12 compared to last week ...
(5/18) ... Geodyne Energy (Calgary) acquired 65% interest and operationship of the Ramos Mexia field in Argentina with 5 producing wells for approx $2.4 million in cash and stock ...
(5/17) ... AGA reported an injection of 46 BCF into the natural gas storage, representing 35.3% full or 1,163 BCF, up from 33.9% last week ... the DOE reported crude oil stocks up 0.2 MMB at 308.8 MMB, distillate stocks up 0.3 MMB at 96.1 MMB, unleaded gasoline stocks up 1.7 MMB at 202.5 MMB ... Northern Lights Energy Ltd agreed to acquire oil and gas properties and equipment in Texas and 100% of the common stock of The American Energy Operating Corp. for approx $4 million ...
(5/16) ... API reported crude oil stocks down 2.23 MMB, distillate stocks down 0.66 MMB, unleaded gasoline stocks up 0.63 MMB, and refinery capacity up 1.3% at 93.8% compared to prior week's ...
(5/15) ... Weatherford International (Houston, TX) signed a Letter of Intent to acquire Alpine Oil Services (Calgary) for approx $55 million in common stock ... Valero Energy completed the acquisition of Exxon Mobil's 160,000-B/D refinery in Benicia, CA and 260-store retail distribution chain ... Aspen Group Resources (Oklahoma City, OK) acquired 55% and Hat Creek Exploration LLC acquired 45% of Briscoe Oil Operating covering 180 wells, mostly in Oklahoma ... Hunt Oil agreed to offer for all of the issued and outstanding common shares of Newport Petroleum Corp. ...
(5/12) ... Baker-Hughes reported U. S. rig count at 830, down 3 compared to last week (634 for gas and 196 for oil)... Canada's rig count at 194, up 24 compared to last week ...
(5/10) ... AGA reported an injection of 58 BCF into the natural gas storage, representing 33.9% full or 1,117 BCF, up from 32.2% last week ... the DOE reported crude oil stocks up 4.5 MMB at 308.6 MMB, distillate stocks down 0.6 MMB at 95.8 MMB, unleaded gasoline stocks down 1.7 MMB at 200.8 MMB ... Rio Alto Exploration Ltd (Calgary) agreed to acquire Renata Resources, in cash and share offer approx $67 million ...
(5/9) ... API reported crude oil stocks up 4.14 MMB, distillate stocks up 0.63 MMB, unleaded gasoline stocks down 0.85 MMB, and refinery capacity down 0.7% at 92.5% compared to prior week's ...
(5/8) ... AGL Resources (Atlanta) agreed to acquireVirginia Oil & Gas, a wholly subsidiary of Dominion Resources for approx $500 million in cash ... Le Norman Partners LLC agreed to acquire oil and gas properties in southern New Mexico from Bargo Energy for approx $32 million ...
(5/5) ... Baker-Hughes reported U. S. rig count at 833, up 35 compared to last week ... Canada's rig count at 170, up 44 compared to last week ...
(5/3) ... AGA reported an injection of 32 BCF into the natural gas storage, representing 32.2% full or 1,059 BCF, up from 31.2% last week ... the DOE reported crude oil stocks down 3.3 MMB at 304.1 MMB, distillate stocks up 2.7 MMB at 96.4 MMB, unleaded gasoline stocks up 1.8 MMB at 202.5 MMB ...
(5/2) ... API reported crude oil stocks down 7.89 MMB, distillate stocks up 3.24 MMB, unleaded gasoline stocks up 1.94 MMB, and refinery capacity up 1.5% at 93.2% compared to prior week's ... Texaco announced plan to acquire 20% interest in Energy Coversion Devices (Troy, MI) for approx $67.3 million to jointly develop and commercialize hydrogen alternative energy ... Mart Resources (Calgary) entered a letter of intent to acquire all issued and outstanding shares of Interbasin Resources covering 100% interest in an offshore exploration license in Nigeria ... Phillips Alaska and BP Amoco announced an oil field discovery in Alaska's North Slope which could contain 50 MMB with a well test of 4,000 B/D ...
(5/1) ... Conoco Canada Ltd closed the acquisition of Petro-Canada's natural gas liquid business including the Empress plant at Medicine Hat ...
(4/28) ... Baker-Hughes reported U. S. rig count at 798, down 19 compared to last week ... Canada's rig count at 126, up 2 compared to last week ... Seminole Transportation and Trading agreed to acquire Dynegy's domestic crude business including storages and pipelines ... Chevron owns 29% of Dynegy ... Green River Pipeline LLC agreed to acquire 35% in the Jonah Gas Gathering Co., Sublette County, WY from MCN Energy Group, its partner in the venture, for approx $45 million ...
(4/27) ... Southwestern Energy (Fayetteville, AR) agreed to acquire producing wells in the Overton field, Smith County, TX from Total Fina Elf for approx $6.5 million ...
(4/26) ... AGA reported an injection of 25 BCF into the natural gas storage, representing 31.2% full or 1,027 BCF, down from 30.6% last week ... the DOE reported crude oil stocks up 5.1 MMB at 307.4 MMB, distillate stocks up 0.9 MMB at 93.7 MMB, unleaded gasoline stocks down 1.3 MMB at 200.7 MMB ... Phillips Petroleum completed the acquisition of Arco Alaska after the Federal Trade Commission approved the deal (approx $ 7 billion) which is retroactive to 1/1/2000 ...
(4/25) ... API reported crude oil stocks up 4.25 MMB, distillate stocks up 0.22 MMB, unleaded gasoline stocks down 0.68 MMB, and refinery capacity down 0.3% at 91.7% compared to prior week's ... Ambra Resources (Vancouver, BC) acquired 25% of Venture Oil & Gas increasing holding from 50% to 75% ownership ...
(4/24) ... Louis Dreyfus Natural Gas Corp. agreed to acquire oil and gas assets of Costilla Energy for approx $100 million ... Seneca Resources (Buffalo, NY) agreed to acquire Tri Link Resources Ltd (Calgary) for approx $230 million ... Entergy Corp. and Koch Industries Inc. announced plans to form Entergy-Koch, L.P. ...

(4/21) ... Baker-Hughes reported U. S. rig count at 817, up 8 compared to last week ... Canada's rig count at 124, down 31 compared to last week ...
(4/20) ... Colonial Pipeline Co. repurchased 11.49% ownership from Mobil Pipeline Co., a subsidiary of Exxon Mobil ... Aspen Group Resources acquired 35 producing properties located in Oklahoma from Fer-Scher Exploration, LLC with stocks ...
(4/19) ... AGA reported a withdrawal of 25 BCF from the natural gas storage, representing 30.6% full or 1,008 BCF, down from 31.4% last week ... the DOE reported crude oil stocks up 5.5 MMB at 296.8 MMB, distillate stocks down 3.9 MMB at 92.8 MMB, unleaded gasoline stocks down 1.6 MMB at 202.0 MMB ...
(4/18) ... API reported crude oil stocks up 6.58 MMB, distillate stocks down 2.68 MMB, unleaded gasoline stocks down 2.84 MMB, and refinery capacity up 0.5% at 92.0% compared to prior week's ... Algeria's Sonatrach agreed to acquire 40% in the Rhourde El Baguel oil field from Atlantic Richfield for approx $350 million ...
(4/17) ... Chevron-Phillips is the new name of a joint venture between Chevron and Phillips of their chemical businesses ... Amerada Hess announced that they had acquired the Gassi El Greb Redevelopment Project (including the El Gassi, El Agreb, and Zotti fields from Sonatrach for approx $55 million and then would form a joint venture under the new name of SonaHess to operate those fields ... Samson Canada Ltd. agreed to acquire all of the outstanding shares of Calahoo Petroleum in a deal worth $94 million ... Anderson Exploration Ltd (Calgary) agreed to acquire Ulster Petroleum Ltd with an offer higher than that from Hunt Oil. ...
(4/14) ... Baker-Hughes reported U. S. rig count at 809, up 12 compared to last week (616 for gas and 193 for oil) ... Canada's rig count at 155, down 26 compared to last week ... Amerada Hess signed two contracts worth $579 million with Algeria's state-run Sonatrach, one for exploration in 350 miles square Block 410C with seismic and 4 wells and one for oil enhance recovery in the El Gassi, Zotti, and El Agreb fields ...
(4/13) ... the Federal Trade Commission approved BP Amoco Plc.'s purchase of Atlantic Richfield Co. ...
(4/12) ... AGA reported an injection of 2 BCF into the natural gas storage, representing no change at 31.3% full or 1,018 BCF ... the DOE reported crude oil stocks up 2.9 MMB at 296.8 MMB, distillate stocks down 0.6 MMB at 96.7 MMB, unleaded gasoline stocks down 0.2 MMB at 203.6 MMB, and propane stocks up 0.4 MMB at 21.9 MMB ... Aspen Group Resources Corp. is the new name for Cotton Valley Resources Corp. ... Crude sample from the detained Russian tanker tested to be from both Iran and Iraq ... Royal Dutch/Shell Group said it was their Iranian crude ...
(4/11) ... API reported crude oil stocks up 4.25 MMB, distillate stocks down 2.02 MMB, unleaded gasoline stocks up 1.85 MMB, and refinery capacity up 0.1% at 91.5% compared to prior week's ... BP Amoco agreed to pay $32 million to settle charge that it underpaid royalty on oil producing from federal and Indian leases ...
(4/10) ... Unocal Canada Resources planned to acquire 21.9 million common shares or 52.4% of (Calgary) which Unocal did not already own for approx $150 million ...
(4/7) ... Baker-Hughes reported U. S. rig count at 797, up 22 compared to last week (610 for gas and 187 for oil) ... Canada's rig count at 181, down 63 compared to last week ... Clark USA shut down most operations at its 232,000-B/D refinery in Port Arthur, Texas until early May ... the U. S. Navy stopped a Russian tanker in the southern Persian Gulf and took sample of crudes to test if it is from Iraq ...
(4/6) ... Pride International (Houston, TX), world's largest drilling contractor, completed the aquisition of Servicios Especiales San Antonio S.A., an oilfield service company in Argentina, Venezuela, Bolivia, and Peru, from Perez Companc S.A. for approx $78 million plus $17 million debt assumption ... Tosco (Stamford, CT) agreed to acquire the 295,000-B/D refinery near Wood River, Roxana, Illinois for approx $420 million from Equilon Enterprise, (a joint venture of Texaco and Royal Dutch/Shell Oil Co. ...
(4/5) ... AGA reported a withdrawal of 5 BCF from the natural gas storage, representing a decrease of 0.1% at 31.3% full or 1,021 BCF ... the DOE reported crude oil stocks up 1.5 MMB at 293.9 MMB, distillate stocks down 1.6 MMB at 97.3 MMB, and unleaded gasoline stocks up 2.7 MMB at 203.8 MMB ... Kinder Morgan Energy Partners L.P. completed the acquisition of Shell's 80% interest in Shell CO2 Company ... now owns 100% and planned to change the name to Kinder Morgan CO2 Co., L.L.C. ...
(4/4) ... API reported crude oil stocks up 4.59 MMB, distillate stocks down 2.52 MMB, unleaded gasoline stocks up 3.65 MMB, and refinery capacity up 1.0% at 91.4% compared to prior week's ... Forest Oil (Denver, CO) announced a natural gas discovery in the Gulf of Mexico, offshore Louisiana, tested 15.2 MMCF/D and 460 B/D from the Big "B" channel sand ...
(4/3) ... Anadarko (Houston, TX) agreed to acquire Union Pacific Resources Group (Fort Worth, TX) in a $4 billion stock swap ... UPRG would be a wholly owned subsidiary of Anadarko ... Duke Energy International agreed to acquire Mobil Europe Gas, the gas marketing in Europe from Exxon Mobil ... Playa Minerals & Energy agreed to merge with Regent Group to form Magna Resources, Inc. ... Bargo Energy (Houston, TX) acquired oil and gas properties from Texaco for approx $161 million ...

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