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IMPORTANT OIL & GAS NEWS

OIL & GAS NEWS ARCHIVE ... July - September 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

(9/29) ... Baker-Hughes reported U. S. rig count at 1,015, up 17 compared to last week (209 for oil and 806 for gas ... and up from last year's of 730 ... Canada's rig count at 355, no change from last week ...
(9/28) ... National-Oilwell acquired the assets of Baylor Co. and subsidiaries from Boots & Coots International Well Control for approx $29 million in cash ...
(9/27) ... AGA reported an injection of 77 BCF into the natural gas storage at 2,402 BCF, representing 72.9% full, up from 70.6% last week ... down 15.0% compared to last year of 2,825 BCF ... the DOE reported crude oil stocks down 0.5 MMB at 285.6 MMB, distillate stocks down 1.0 MMB at 114.9 MMB, unleaded gasoline stocks up 3.0 MMB at 190.6 MMB ...
(9/26) ... API reported crude oil stocks down 2.24 MMB, distillate stocks down 0.76 MMB, unleaded gasoline stocks up 2.90 MMB, and refinery capacity down 0.3% at 94.4% compared to prior week's ... Quicksilver Resources (Fort Worth, TX) agreed to acquire substantially all of Dominion Reserves-Indiana's Corydon Project in Kentucky including 22 gas wells, gathering system, interest in 20,000 acres, and 80% interest in the GTG Pipeline system ... Conoco, PetroVietnam, Korean National Oil, SK Corp, and GeoPetrol announced the discovery in Block "15-1" offshore Vietnam, 120 miles southeast of Ho Chi Minh City, tested 5,600 B/D ... while Block "15-2" is currently producing 40,000 B/D ... U. N. Dollars (Jacksonville, FL) acquired 80% of Emeral Restoration and Production in 4 units in the Powder River Basin of Wyoming covering 16,000 acres with stock valued at $400 million ...
(9/25) ... Phillips acquired River Gas Corp, a coalbed methane gas production with properties in Utah and Alabama, and interests in three other companies with properties in the Powder River Basin in Wyoming for approx $123 million ... Enterprise Products Partners L.P. (Houston, TX) agreed to acquire Acadian Gas, LLC including 3 natural gas pipeline system with over 1,000 miles of pipeline, from Coral Energy LLC for approx $226 million ...
(9/22) ... Baker-Hughes reported U. S. rig count at 998, down 14 compared to last week (195 for oil and 803 for gas ... and up from last year's of 720 ... Canada's rig count at 355, up 84 compared to last week ...
(9/20) ... AGA reported an injection of 67 BCF into the natural gas storage at 2,325 BCF, representing 70.6% full, up from 68.5% last week ... down 15.3% compared to last year of 2,746 BCF ... the DOE reported crude oil stocks down 2.4 MMB at 286.1 MMB, distillate stocks up 1.3 MMB at 115.9 MMB, unleaded gasoline stocks down 4.2 MMB at 187.6 MMB ... Evergreen Resources (Denver, CO) acquired the interests in 24,000 acres of coal bed methane production in the Raton Basin for approx $176 million from KLT Gas, an indirect wholly owned subsidiary of Kansas City Power and Light ...
(9/19) ... API reported crude oil stocks down 2.04 MMB, distillate stocks up 1.25 MMB, unleaded gasoline stocks down 0.02 MMB, and refinery capacity down 0.8% at 94.7% compared to prior week's ...
(9/15) ... Baker-Hughes reported U. S. rig count at 1012, no change compared to last week (196 for oil and 816 for gas ... and up from last year's of 703 ... Canada's rig count at 271, up 5 compared to last week ... and down from last year's of 273 ...
(9/13) ... AGA reported an injection of 72 BCF into the natural gas storage at 2,258 BCF, representing 68.5% full, up from 66.4% last week ... down 15.4% compared to last year of 2,668 BCF ... the DOE reported crude oil stocks down 1.0 MMB at 288.5 MMB, distillate stocks up 2.3 MMB at 114.6 MMB, unleaded gasoline stocks down 3.7 MMB at 191.8 MMB ... Sunoco announced intention to sell its lubricant operations including the refinery in Jabucoa, Puerto Rico, the blending plant in Tulsa, OK, and the marketing brand of Kendall motor oil ...
(9/12) ... API reported crude oil stocks down 1.94 MMB, distillate stocks up 2.13 MMB, unleaded gasoline stocks down 5.89 MMB, and refinery capacity down 0.1% at 95.5% compared to prior week's ...
(9/11) ... Southern Energy (Atlanta) completed the acquisition of Vastar Resources' 40% interest in Southern Company Energy Marketing for approx $250 million ...
(9/10) ... OPEC members agreed to increase production by 3% or 800,000 barrels per day amid international pressure to lower oil and gasoline prices ...
(9/8) ... Baker-Hughes reported U. S. rig count at 1012, down 7 compared to last week (204 for oil and 808 for gas ... and up 322 compared to last year's of 690 ... Canada's rig count at 266, down 55 compared to last week ... and down 1 compared to last year's of 267 ...
(9/6) ... API reported crude oil stocks up 3.13 MMB, distillate stocks up 0.66 MMB, unleaded gasoline stocks down 0.15 MMB, and refinery capacity up 0.1% at 95.6% compared to prior week's ... AGA reported an injection of 42 BCF into the natural gas storage at 2,186 BCF, representing 66.4% full, up from 65.1% last week ... down 15.5% compared to last year of 2,587 BCF ... National-Oilwell (Houston, TX) completed the acquisition of Wheatley Gaso, a manufacturer of piston and plunger pumps, and Omega, manufacturer and marketing pumps, for approx $13 million each ...
(9/5) ... Gulf Canada Resources (Calgary) announced their discovery in the Dutch section of the North Sea with a flow test of 11 MMCF/day ...
(9/1) ... Baker-Hughes reported U. S. rig count at 1019, up 23 compared to last week (223 for oil and 816 for gas ... and up 348 compared to last year's of 671 ... Canada's rig count at 321, down 18 compared to last week ... and up 40 compared to last year's of 281 ...
(8/31) ... Louis Dreyfus Natural Gas completed the acquisition of oil and gas properties in Sonora area in West Texas from Magnum Hunter Resources ...
(8/30) ... the DOE reported crude oil stocks up 2.0 MMB at 286.7 MMB, distillate stocks up no change at 112.4 MMB, unleaded gasoline stocks down 4.8 MMB at 196.4 MMB ... AGA reported an injection of 52 BCF into the natural gas storage at 2,144 BCF, representing 65.1% full, up from 63.5% last week ... down 15.0% compared to last year of 2,521 BCF ... Aspen Group Resources (Oklahoma City, OK) completed the acquisition of oil and gas assets from Old Dominion Oil ...
(8/29) ... API reported crude oil stocks up 5.26 MMB, distillate stocks up 1.04 MMB, unleaded gasoline stocks down 3.07 MMB, and refinery capacity down 1.4% at 95.5% compared to prior week's ... Shareholders of Devon Energy (Oklahoma City) and Santa Fe Snyder (Houston) approved the merger of the two companies into Devon, becoming one of top 5 US-based independent oil and gas producers ... Dominion Exploration and Production completed the acquisition of the operating interests of Suemaur Exploration and Production LLC and several partners in 3 Texas Gulf Coast natural gas fields ... Key Production (Denver, CO) agreed to acquire all of the outstanding common stock of Columbus Energy with stock exchange ...
(8/25) ... Baker-Hughes reported U. S. rig count at 996, up 2 compared to last week (202 for oil and 794 for gas ... and up 328 compared to last year's of 668 ... Canada's rig count at 339, up 49 compared to last week ... and up 57 compared to last year's of 282 ...
(8/23) ... the DOE reported crude oil stocks down 4.1 MMB at 284.7 MMB, distillate stocks up 0.9 MMB at 112.4 MMB, unleaded gasoline stocks down 1.2 MMB at 201.2 MMB ... AGA reported an injection of 55 BCF into the natural gas storage at 2,092 BCF, representing 63.5% full, up from 61.8% last week ... down 14.7% compared to last year of 2,452 BCF ... GDF International S.A., a wholly owned subsidiary of Gaz de France, agreed to acquire assets in the Netherlands from TransCanada Pipelines Ltd for approx $500 million, including 7 offshore natural gas producing licenses and 38.57% interest in an offshore natural gas pipeline system and a natural gas treatment plant ...
(8/22) ... API reported crude oil stocks down 7.77 MMB, distillate stocks down 2.89 MMB, unleaded gasoline stocks down 1.14 MMB, and refinery capacity up 1.2% at 96.9% compared to prior week's ...
(8/21) ... Transocean Sedco Forex agreed to acquire rival R&B Falcon for approx $5.2 billion with stocks to extend the world's largest offshore drilling contractor adding 139 rigs onto existing 17 rigs ... it was created last year from the merger of Transocean and Schlumberger's Sedco ... an underground natural gas pipeline belong to El Paso Natural Gas exploded early Saturday killing 11 campers near the Pecos River, 30 miles south of Carlsbad, New Mexico ... could be caused by corrosion in the 22-foot section ...
(8/18) ... Baker-Hughes reported U. S. rig count at 984, up 18 compared to last week (208 for oil and 786 for gas ... and up 339 compared to last year's of 645 ... Canada's rig count at 290, down 23 compared to last week ...
(8/17) ... Apache completed the acquisition of properties in 32 fields on 92 Outer Continental Shelf blocks from a subsidiary of Occidental Petroleum for approx $385 million ...
(8/16) ... AGA reported an injection of 52 BCF into the natural gas storage, representing 61.8% full or 2,037 BCF, up from 60.3% last week ... down 15.2% compared to last year of 2,402 BCF ... the DOE reported crude oil stocks up 3.4 MMB at 288.8 MMB, distillate stocks up 1.3 MMB at 111.5 MMB, unleaded gasoline stocks down 2.2 MMB at 202.4 MMB ... Brent crude is highest since November 1990 ... Duke Energy International completed the 495-mile $297 million-dollar Eastern Gas Pipeline in Australia initially transporting to New South Wales and Victoria states ...
(8/15) ... API reported crude oil stocks up 7.40 MMB, distillate stocks up 1.88 MMB, unleaded gasoline stocks down 3.34 MMB, and refinery capacity down 0.3% at 94.9% compared to prior week's ...
(8/10) ... Baker-Hughes reported U. S. rig count at 976, down 5 compared to last week (211 for oil and 765 for gas ... and up 349 compared to last year's of 627 ... Canada's rig count at 312, down 23 compared to last week ...
(8/9) ... AGA reported an injection of 65 BCF into the natural gas storage, representing 60.3% full or 1,985 BCF, up from 58.3% last week ... down 15.6% compared to last year of 2,351 BCF ... the DOE reported crude oil stocks up 1.3 MMB at 285.4 MMB, distillate stocks down 0.5 MMB at 110.2 MMB, unleaded gasoline stocks down 1.7 MMB at 204.6 MMB ...
(8/8) ... API reported crude oil stocks down 2.14 MMB, distillate stocks down 1.18 MMB, unleaded gasoline stocks down 1.67 MMB, and refinery capacity down 0.8% at 95.2% compared to prior week's ...
(8/7) ... CMS Oil & Gas (Houston, TX) announced two discoveries, one in Upton County, Texas flowing 7.5 MMCF/D at 1000 psi from the Devonian formation at 12,000 feet deep and 4,000' horizontal section; the other in Midland County, Texas, flowing 750 B/D and 2.7 MMCF/D from the Pennsylvanian formation at 10,700 feet deep and 5,700' horizontal section ...
(8/4) ... Baker-Hughes reported U. S. rig count at 981, up 6 compared to last week (209 for oil and 773 for gas ... all time high for gas exploration) and up 365 compared to last year ... Canada's rig count at 335, up 16 compared to last week ...
(8/3) ... Phillips Petroleum completed the acquisition of ARCO's properties in Alaska for $6.5 billion ... also recently acquired 22.3% interest in the TransAlaska Pipeline System and other pipelines ... planned to team up with Chevron and Alberta Energy to explore and develop 7 offshore Prudhoe Bay leases and other areas covering 150,000 acres ...
(8/2) ... AGA reported an injection of 63 BCF into the natural gas storage, representing 58.3% full or 1,920 BCF, up from 56.4% last week ... down 16.7% compared to last year of 2,306 BCF ... the DOE reported crude oil stocks down 10.6 MMB at 284.1 MMB, distillate stocks up 0.3 MMB at 110.7 MMB, unleaded gasoline stocks down 0.6 MMB at 206.3 MMB ...
(8/1) ... API reported crude oil stocks down 9.0 MMB, distillate stocks up 1.06 MMB, unleaded gasoline stocks down 1.07 MMB, and refinery capacity down 0.6% at 96.0% compared to prior week's ... Petrobras was fined $94 million for the 1 million gallon crude oil spill in July at the Getulio Vargas refinery in Arau Caria ... In January, Petrobras was fined $28 million form the 340,000-BBLS oil spill in to the Guanabara Bay in Rio ...
(7/31) ... OPEC President annouced the members produced 700,000 B/D more than they agreed-to amount ...
(7/28) ... Baker-Hughes reported U. S. rig count at 975, up 25 compared to last week (211 for oil and 764 for gas ... all time high for gas exploration) and up 373 compared to last year ... Canada's rig count at 319, up 13 compared to last week and up 80 compared to last year ...
(7/27) ... Landover Energy Inc. (Calgary) signed a letter of intent to acquire all outstanding and issued shares of Frobisher Petroleum Ltd. for approx $4.5 million in cash, properties mostly in the Willisden Green and Grand Forks areas ...
(7/26) ... AGA reported an injection of 54 BCF into the natural gas storage, representing 56.4% full or 1,857 BCF, up from 54.7% last week ... down 18.6% compared to last year of 2,280 BCF ... the DOE reported crude oil stocks up 0.3 MMB at 294.7 MMB, distillate stocks up 1.1 MMB at 110.4 MMB, unleaded gasoline stocks up 0.5 MMB at 206.9 MMB ...
(7/25) ... API reported crude oil stocks up 1.88 MMB, distillate stocks up 1.73 MMB, unleaded gasoline stocks up 1.71 MMB, and refinery capacity up 0.9% at 96.6% compared to prior week's ...
(7/24) ... South Texas Drilling (San Antonio, TX) agreed to acquire 100% of the common stock of Pioneer Drilling Co. (Corpus Christi, TX) for approx $12 million in cash and stock including $1.5 million debt ...
(7/21) ... Baker-Hughes reported U. S. rig count at 950, up 22 compared to last week (214 for oil and 736 for gas) ... Canada's rig count at 306, up 18 compared to last week ... Texas Eastern Pipeline Co. completed the acquisition of the assets of ARCO Pipe Line for approx $318.5 million ...
(7/20) ... Apache agreed to acquire oil and gas interest in the Gulf of Mexico from a subsidiary of Occidental Petroleum for approx $385 million ...
(7/19) ... AGA reported an injection of 70 BCF into the natural gas storage, representing 54.7% full or 1,803 BCF, up from 52.6% last week ... down 19.5% compared to last year of 2,239 BCF ... the DOE reported crude oil stocks down 0.5 MMB at 294.4 MMB, distillate stocks up 0.8 MMB at 109.3 MMB, unleaded gasoline stocks up 0.5 MMB at 205.6 MMB ...
(7/18) ... API reported crude oil stocks down 0.76 MMB, distillate stocks up 1.98 MMB, unleaded gasoline stocks down 1.41 MMB, and refinery capacity down 0.4% at 95.7% compared to prior week's ... OPEC President Ali Rodriguez announced the members did not agree to his proposal of boosting the production by 500,000 B/D ...
(7/17) ... Enterprise Oil (Houston, TX) acquired R&B Falcon's 50% interest in the Boomvang field development, 100% interest in the Gyrfalcon field and interest in 10 Gulf of Mexico blocks ... AES Corp agreed to acquire Ipalco for approx $2.15 billion ...
(7/14) ... Baker-Hughes reported U. S. rig count at 928, up 15 compared to last week (212 for oil and 716 for gas), up 345 compared to last year's of 583 ...Canada's rig count at 288, down 29 compared to last week, up 71 compared to last year's of 217 ...Hornet Energy agreed to take over and combine with Pinon Oil & Gas Ltd (Calgary) with properties in Alberta ...Indo Pacific Oil & Gas, a subsidiary of Fortune Oil & Gas (Vancouver) agreed to acquire GFB Resources (Java) Ltd. covering the Bawean Production Sharing Contract including the Camar oil field ...
(7/13) ... shareholders approved Anadarko acquisition of Union Pacifc Resources to become the biggest independent oil and gas producer in the U. S. ... Tosco agreed to acquire the Alliance 250,000-B/D refinery in Belle Chasse, Louisiana from BP Amoco for approx $660 million ... Plexus Energy Ltd, Peregrine Oil & Gas Ltd, and Aegis Energy Ltd merged into Surge Petroleum Inc. (Calgary) ...
(7/12) ... AGA reported an injection of 97 BCF into the natural gas storage, representing 52.6% full or 1,733 BCF, up from 49.7% last week ... down 19.8% compared to last year of 2,161 BCF ... the DOE reported crude oil stocks up 1.2 MMB at 294.9 MMB, distillate stocks up 4.8 MMB at 108.5 MMB, unleaded gasoline stocks up 0.6 MMB at 205.1 MMB ... McGowen Resources (Dallas, TX) completed the acquisition of oil and gas properties in the AWP field, McMullen County, Texas from Petro-Hunt LLC for approx $2.8 million in cash ...
(7/11) ... API reported crude oil stocks up 1.21 MMB, distillate stocks up 5.27 MMB, unleaded gasoline stocks up 0.25 MMB, and refinery capacity up 1.2% at 96.1% compared to prior week's ... CXY Energy Marketing, a subsidiary of Canadian Occidental Petroleum Ltd., agreed to acquire Northridge Marketing Ltd, a subsidiary of Transcanada PipeLines Ltd, for approx $40 million ...
(7/10) ... BP Amoco announced its intent to acquire IGI Resources (Boise, Idaho), a natural gas and power trading and transportation business with primarily industrial customers in the Western U.S. and Canada ... Forest Oil agreed to acquire Forcenergy in a stock swap to become one of the top ten independent exploration and production company in the U. S. ...
(7/7) ... Baker-Hughes reported U. S. rig count at 913, down 7 compared to last week (713 for gas and 198 for oil) ... Canada's rig count at 317, down 10 compared to last week ...
(7/6) ... the DOE reported crude oil stocks down 1.8 MMB at 293.7 MMB, distillate stocks down 0.1 MMB at 103.7 MMB, unleaded gasoline stocks up 0.2 MMB at 204.5 MMB ...
(7/5) ... API reported crude oil stocks down 0.14 MMB, distillate stocks down 0.80 MMB, unleaded gasoline stocks up 2.21 MMB, and refinery capacity down 1.4% at 94.9% compared to prior week's ... AGA reported an injection of 69 BCF into the natural gas storage, representing 49.7% full or 1,636 BCF, up from 47.6% last week ... down 22.2% compared to last year of 2,102 BCF ... Ultramar Diamond Shamrock agreed to acquire the Avon refinery on the San Francisco Bay from Tosco for approx $800 million ... 4 workers were killed in this refinery on 2/99 blast ... Toreador Resources agreed to acquire privately-held Texona Petroleum with stocks ... Apache completed the acquisition of properties in the Permian Basin and South Texas from Collins & Ware for approx $320 million ... South Pacific Petroleum agreed to acquire the fuels and LPG marketing assets including 11 service stations in Guam from Exxon Mobil ...
(7/4) ... Saudi Arabia announced plan to increase crude production by half a million barrels a day as the previously announcement of 3% (708,000 B/D) increase from OPEC did not damper crude prices ...

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