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IMPORTANT OIL & GAS NEWS

OIL & GAS NEWS ARCHIVE ... October - December 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

(12/29) ... Baker-Hughes reported U. S. rig count at 1,114, up 27 compared to last week (235 for oil and 879 for gas) ... and up from last year's of 771 ... Canada's rig count at 322, down 134 compared to last week ... and up from last year's of 296 ... the DOE reported crude oil stocks down 0.7 MMB at 290.5 MMB, distillate stocks down 1.5 MMB at 114.7 MMB, unleaded gasoline stocks down 2.6 MMB at 196.4 MMB ...
(12/27) ... API reported crude oil stocks down 2.06 MMB, distillate stocks down 1.86 MMB, unleaded gasoline stocks down 2.12 MMB, and refinery capacity unchanged at 93.4% compared to prior week's ... AGA reported a withdrawal of 175 BCF from the natural gas storage at 1,938 BCF, representing 59.6% full, down 5.4% from last week and down 24.6% from last year ...
(12/22) ... Baker-Hughes reported U. S. rig count at 1,087, down 20 compared to last week (236 for oil and 851 for gas) ... and up from last year's of 997 ... Canada's rig count at 456, unchanged from last week ... and up from last year's of 404 ...
(12/20) ... AGA reported a withdrawal of 158 BCF from the natural gas storage at 2,113 BCF, representing 65.0% full, down 4.9% from last week and down 23.0% from last year ... the DOE reported crude oil stocks up 3.1 MMB at 291.8 MMB, distillate stocks up 0.9 MMB at 116.2 MMB, unleaded gasoline stocks up 2.4 MMB at 199.0 MMB ...
(12/19) ... API reported crude oil stocks up 2.41 MMB, distillate stocks down 0.89 MMB, unleaded gasoline stocks up 0.80 MMB, and refinery capacity down 0.9% at 93.4% compared to prior week's ...
(12/15) ... Baker-Hughes reported U. S. rig count at 1,107, up 19 compared to last week (245 for oil and 862 for gas) ... and up from last year's of 815 ... Canada's rig count at 456, up 47 compared to last week ... and up from last year's of 450 ...
(12/13) ... AGA reported a withdrawal of 158 BCF from the natural gas storage at 2,271 BCF, representing 69.9% full, down 4.9% from last week and down 20.6% from last year ... the DOE reported crude oil stocks down 3.4 MMB at 288.7 MMB, distillate stocks down 4.7 MMB at 115.3 MMB, unleaded gasoline stocks up 1.4 MMB at 196.6 MMB ... Tom Brown Inc. (Denver, CO) agreed to acquire Stellarton Energy (Toronto) with properties in western Canada for approx $95 million ... Reliant Services, LLC, a 50/50 joint venture between Vectren and Cinergy, completed the acquisition of Miller Pipeline Corp., a natural gas and water distributor in the MidWest, from NiSource for approx $68 million ...
(12/12) ... API reported crude oil stocks down 1.10 MMB, distillate stocks down 4.53 MMB, unleaded gasoline stocks up 1.61 MMB, and refinery capacity up 1.3% at 94.3% compared to prior week's ... Phillips Petroleum agreed to acquire the gasoline marketing business in the Mid Continental region from 3 subsidiaries of The Coastal Corp. ... Home-Stake Oil & Gas (Tulsa, OK) is now a wholly owned subsidiary of Cortez Oil & Gas (Plano, TX) ... King Resources (Gulfport, MS) is the new name of ARXA International Energy ...
(12/11) ... Trinity signed a Letter of Intent to acquire Diasu Oil & Gas (Houston, TX) approx $4 million with cash and stock ... Diasu has properties in Texas and Louisian Gulf coast and Powder River Basin in Wyoming ... Alliance Energy Industrial Services (Cedar Rapids, Iowa) completed the acquisition of 12-mile Bastian Bay Pipeline LP from Samedan Oil, Sececa Resources, and Ace Energy ...
(12/8) ... Baker-Hughes reported U. S. rig count at 1,088, down 2 compared to last week (244 for oil and 844 for gas) ... and up from last year's of 813 ... Canada's rig count at 409, no change compared to last week ... and up from last year's of 397 ...
(12/6) ... AGA reported a withdrawal of 73 BCF from the natural gas storage at 2,429 BCF, representing 74.8% full, down 2.2% from last week ... the DOE reported crude oil stocks up 2.0 MMB at 292.1 MMB, distillate stocks up 3.4 MMB at 120.0 MMB, unleaded gasoline stocks up 4.0 MMB at 195.2 MMB ... Apache agreed to acquire oil and gas properties and assets in the Zama area of northwest Alberta from Phillips Petroleum for approx $490 million ...
(12/5) ... API reported crude oil stocks down 3.73 MMB, distillate stocks up 3.29 MMB, unleaded gasoline stocks up 3.24 MMB, and refinery capacity up 1.2% at 93.0% compared to prior week's ... Cross Timbers Oil agreed to acquire gas producing properties in East Texas and Louisiana from Herd Production Co. for approx $115 million ... Madison Oil Co. (Dallas, TX) agreed to acquire ARCO Turkey Inc. from BP ...
(12/1) ... Baker-Hughes reported U. S. rig count at 1,090, up 26 compared to last week (256 for oil and 834 for gas) ... and up from last year's of 796 ... Canada's rig count at 409, up 29 compared to last week ... and up from last year's of 376 ... North America at 1,499 working rigs, highest in 10 years ... Iraq cut off oil export Friday but then said it would resume in January after oil market was not affected by the news ...
(11/30) ... Kinder Morgan Energy Partners L.P. agreed to acquire GATX Corp.'s US pipeline and terminal business for approx $1.15 billion in cash and assumed debt, covering the CALNEV Pipe Line Co. and Central Florida Pipe Line Co. as well as 12 petroleum products and chemical terminals ...
(11/29) ... AGA reported a withdrawal of 146 BCF from the natural gas storage at 2,502 BCF, representing 77.0% full, down 4.5% from last week ... the DOE reported crude oil stocks down 0.1 MMB at 290.1 MMB, distillate stocks up 1.7 MMB at 116.6 MMB, unleaded gasoline stocks up 2.3 MMB at 191.2 MMB ... Vintage Petroleum (Tulsa, OK) agreed to acquire 100% of common stock of Cometra Energy (Canada) Ltd. for approx $46.3 million ... covering 13 fields in Alberta, British Columbia, and Saskatchewan plus processing and priceline facilities ...
(11/28) ... API reported crude oil stocks up 1.83 MMB, distillate stocks up 1.63 MMB, unleaded gasoline stocks down 0.02 MMB, and refinery capacity down 0.9% at 91.8% compared to prior week's ...
(11/22) ... AGA reported a withdrawal of 94 BCF from the natural gas storage at 2,648 BCF, representing 81.5% full, down 3.1% from last week ... the DOE reported crude oil stocks up 6.2 MMB at 290.2 MMB, distillate stocks down 0.3 MMB at 114.9 MMB, unleaded gasoline stocks down 0.1 MMB at 188.9 MMB ...
(11/21) ... API reported crude oil stocks up 6.44 MMB, distillate stocks up 0.07 MMB, unleaded gasoline stocks up 0.46 MMB, and refinery capacity down 0.4% at 92.7% compared to prior week's ... Chesapeake Energy agreed to acquire working interests in oil and gas properties in Oklahoma and northern Texas and a natural gas gathering system from Questa for approx $27 million ...
(11/20) ... Pogo Producing Co. (Houston, TX) agreed to acquire NORIC Corp., the parent of North Central Oil Corp., for approx $630 million in cash and stock plus assuming $120 million debt ... Parker Drilling (Tulsa, OK) sold the last of its land rig to exit land drilling business in Alaska and the Lower 48 in pursuit of the offshore Gulf of Mexico and international drilling market ...
(11/17) ... Baker-Hughes reported U. S. rig count at 1,057, down 10 compared to last week (233 for oil and 824 for gas) ... and up from last year's of 797 ... Canada's rig count at 379, up 51 compared to last week ... and up from last year's of 335 ...
(11/16) ... Playa Minerals & Energy (Houston, TX) completed the acquisition of six offshore Louisiana leases from Marathon for approx $15 million ...

(11/15) ... AGA reported a withdrawal of 6 BCF into the natural gas storage at 2,742 BCF, representing 84.6% full, unchanged from last week ... the DOE reported crude oil stocks up 1.5 MMB at 284.0 MMB, distillate stocks down 0.5 MMB at 115.2 MMB, unleaded gasoline stocks up 2.9 MMB at 189.0 MMB ...
(11/14) ... API reported crude oil stocks up 2.52 MMB, distillate stocks down 0.06 MMB, unleaded gasoline stocks up 3.42 MMB, and refinery capacity down 0.7% at 93.1% compared to prior week's ... Richland Petroleum (Calgary) agree to acquire 50% interest in natural gas property in the Whitecourt area of West Central Alberta for approx $32.9 million ... Danoil Energy Ltd. (Cagary) agreed to acquire all of the outstanding shares of Basinview Energy for approx 15 million ...
(11/13) ... Royal Dutch/Shell group agreed to buy 20% of the Initial Public Offering of the China National Offshore Oil Corp. for up to $300 million ... They bought 14% in the IPO of the China Petroleum and Chemical in last month ...OPEC members agreed not to boost production until next meeting on January 17th, 2001 ...
(11/10) ... Baker-Hughes reported U. S. rig count at 1,067, down 11 compared to last week (227 for oil and 840 for gas) ... and up from last year's of 774 ... Canada's rig count at 328, down 34 compared to last week ... and up from last year's of 321 ... Exxon Mobil restarted their 16,000-B/D refinery near Los Angeles which has been shut down for repair almost a month ...
(11/8) ... AGA reported an injection of 36 BCF into the natural gas storage at 2,748 BCF, representing 84.6% full, up from 83.5% last week ... the DOE reported crude oil stocks down 1.6 MMB at 282.5 MMB, distillate stocks up 2.1 MMB at 115.7 MMB, unleaded gasoline stocks down 2.0 MMB at 186.1 MMB ...
(11/7) ... API reported crude oil stocks up 0.04 MMB, distillate stocks up 1.35 MMB, unleaded gasoline stocks down 1.05 MMB, and refinery capacity down 0.5% at 93.8% compared to prior week's ...
(11/3) ... Baker-Hughes reported U. S. rig count at 1,078, down 6 compared to last week (233 for oil and 845 for gas) ... and up from last year's of 763 ... Canada's rig count at 362, down 2 compared to last week ... and up from last year's of 336 ...
(11/2) ... LUKOIL, Russia's largest oil company, agreed to acquire Getty Petroleum Marketing in a deal valued at $71 million ...
(11/1) ... AGA reported an injection of 70 BCF into the natural gas storage at 2,712 BCF, representing 83.5% full, up from 81.3% last week ... the DOE reported crude oil stocks down 1.5 MMB at 284.1 MMB, distillate stocks up 1.4 MMB at 113.6 MMB, unleaded gasoline stocks down 4.1 MMB at 188.1 MMB ...
(10/31) ... API reported crude oil stocks down 0.75 MMB, distillate stocks up 1.73 MMB, unleaded gasoline stocks down 4.94 MMB, and refinery capacity up 0.9% at 94.3% compared to prior week's ... PanCanadian Petroleum agreed to acquire the oil and gas business of Montana Power Co. for approx $475 million ...
(10/30) ... Stone Energy Corp (NY) agreed to acquire Basin Exploration in a stock exchange for a value of $410 million including $48 million in debt ...
(10/27) ... Baker-Hughes reported U. S. rig count at 1,084, up 30 compared to last week (229 for oil and 855 for gas) ... and up from last year's of 761 ... Canada's rig count at 364, up 12 compared to last week ... and up from last year's of 301 ... OPEC is expected to increase production by half a million barrels per day beginning Monday ...
(10/25) ... AGA reported an injection of 71 BCF into the natural gas storage at 2,642 BCF, representing 81.3% full, up from 79.1% last week ... the DOE reported crude oil stocks up 2.4 MMB at 285.6 MMB, distillate stocks down 0.6 MMB at 112.2 MMB, unleaded gasoline stocks down 1.1 MMB at 192.2 MMB ... Chancellor Group (New York) completed the acquisition of Getty Petroleum, a Texas corp. holding oil and gas lease adjacent to Chancellor's project in Pecos County, Texas with stocks ... Koch Petroleum Group (Wichita, KS) announced the acquisition of ATP Petroleo S.A., a Brazilian oil and gas exploration and production with 35 wells and 500 BE/day from Paranapanama S.A., a large Brazilian company ...
(10/20) ... Bill Richardson, US Energy Secretary met with OPEC President Ali Rodriguez in Venezuela, Richardson anticipated a 500,000-B/D increase in output at the end of the month while Rodriguez said that it would be the members' decision and would not be this month ... BPU Reynolds agreed to acquire the Sherwin alumina refinery near Corpus Christi from Alcoa ...
(10/19) ... Baker-Hughes reported U. S. rig count at 1,054, up 9 compared to last week (210 for oil and 844 for gas) ... and up from last year's of 750 ... Canada's rig count at 352, up 14 compared to last week ...
(10/18) ... AGA reported an injection of 29 BCF into the natural gas storage at 2,571 BCF, representing 79.1% full, up from 77.2% last week ... down 13.7% compared to last year ... the DOE reported crude oil stocks down 4.5 MMB at 283.2 MMB, distillate stocks down 0.9 MMB at 112.8 MMB, unleaded gasoline stocks down 2.0 MMB at 193.3 MMB ...
(10/17) ... API reported crude oil stocks down 3.11 MMB, distillate stocks down 0.54 MMB, unleaded gasoline stocks down 3.68 MMB, and refinery capacity down 1.2% at 92.7% compared to prior week's ...
(10/13) ... Baker-Hughes reported U. S. rig count at 1,045, up 10 compared to last week (209 for oil and 836 for gas) ... and up from last year's of 721 ... Canada's rig count at 270, down 10 compared to last week ... Chevron was reported to acquire Texaco for approx $35 billion in stocks, merging the second and third largest oil companies in the U.S. to become the fourth largest in the world ...
(10/12) ... U. S. warship Cole was bombed in a suicide attack while refueling at a port in Yemen ...
(10/11) ... AGA reported an injection of 62 BCF into the natural gas storage at 2,542 BCF, representing 77.2% full, up from 75.0% last week ... down 13.4% compared to last year ...
(10/10) ... API reported crude oil stocks down 3.93 MMB, distillate stocks down 3.31 MMB, unleaded gasoline stocks down 0.94 MMB, and refinery capacity down 0.5% at 93.9% compared to prior week's ...
(10/9) ... Fletcher Challenge Energy agreed to sell its properties in Canada and Argentina to Apache and its operations in New Zealand and Brunei to Shell Overseas Holding ...
(10/6) ... Baker-Hughes reported U. S. rig count at 1,035, up 20 compared to last week (202 for oil and 833 for gas) ... and up from last year's of 741 ... Canada's rig count at 356, up 1 compared to last week ... Cuu Long Joint Venture (Conoco, PetroVietnam, Korea National, SK, and Geopetrol) announced a discovery offshore Vietnam in Block 15-1, 110 miles southeast of Ho Chi Minh City, tested 12,621 barrels of oil from three zones ...
(10/4) ... AGA reported an injection of 78 BCF into the natural gas storage at 2,480 BCF, representing 75.0% full, up from 72.9% last week ... down 14.0% compared to last year of 2,887 BCF ... the DOE reported crude oil stocks up 1.1 MMB at 286.7 MMB, distillate stocks down 0.7 MMB at 114.2 MMB, unleaded gasoline stocks up 5.0 MMB at 195.6 MMB ...
(10/3) ... API reported crude oil stocks up 3.42 MMB, distillate stocks up 0.34 MMB, unleaded gasoline stocks up 5.16 MMB, and refinery capacity unchanged at 94.4% compared to prior week's ... Cortez Oil & Gas (Plano, TX) agreed to acquire Home-Stake Oil & Gas (Tulsa, OK) ...
(10/2) ... Delta Petroleum (Denver, CO) completed the acquisition of 100% working interest in the West Delta Block 52, Plaquemine Parish, Louisiana, from Castle Offshore LLC for approx $1.5 million plus stock ...

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