IMPORTANT OIL & GAS NEWS
OIL & GAS NEWS ARCHIVE ... 1st half 1997 and earlier
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
- (6/25) ... OPEC members agreed to freeze at 25.03 MMB/D quotas through the end of 1997 ... there was no threat of overproduction as Venezuela admitted that they have overproduced approx 800,000 B per day or 30% of their quota ...
- (6/6) ... Ashland announced selling of its outstanding stock of Blazer Energy Corp., a wholly owned subsidiary of Ashland Inc., to Statoil ... Chevron Overseas Petroleum Ltd. secured an onshore oil production-sharing contract with China National Petroleum Corp. ...
- (6/2) ... Amoco announced plan to auction off approx 460 MM equivalent barrels from a third of its US oil & gas properties in WY, CO, NM, OK, and Gulf Coast areas ... Enron paid $440 million to settle with Phillips Pet by not taking the gas in the first year of the J-Block field in the North Sea ...
- (5/28) ... EIA reported for 1st Q 1997, US wellhead price averaged $21.36/BBL and $2.74/MCF versus $18.38/BBL and $2.00/MCF in 1st Q 1996
- (5/21) ... Turkish force once again crossed the Iraqi border against Kurdish ... Energy Dept began to auction off their 78% interest in the Elk Hills Naval Petroleum Reserve oil field which is producing approx. 60 MBD and 350 MMCFD ...
- (5/15) ... USX-Marathon and Ashland formed a joint venture (62% and 38%) in refining, marketing, and transportation operations ...
- (5/14) ... AGA reported a gain of 70 BCF of gas into storage representing 30.5% full ...
- (5/13) ... Royal Dutch Shell reported 10% cut in Nigeria oil output due to renewed fighting ...
- (5/12) ... earthquakes in Iran and Columbia, 2 major oil exporting countries ...
- (4/26) ... API reported an increase of 7% in gas well completions and a drop of 18% in oil well completions in the first quarter of 1997 ... successful rate of 76.2% in 4,957 wells drilled
- (3/18) ... UPRC's Eberle #1 gas well in Washington County, Texas tested 84.7 MMCF/day from the Austin Chalk, being the highest initial test onshore gas well in the U.S. history ...
- (1/24) ... API reported 20,904 wells drilled in the U.S. in 1996, of which 15,949 were completed (76.3% successful rate) ... 7,338 oil completions and 8,611 gas completions ...
- (1/1) ... President Clinton has chosen former Transportation Secretary Frederico Pena to head DOE replacing Energy Secretary Hazel O'Leary ...
- (8/10/96) ... in the U.S. 305 rigs are drilling for oil while 483 are drilling for gas (58% more) ... 90% rig utilization rate in the Gulf, 99% in Europe, 91% worldwide ...
- (7/22/96) ... Oil & Gas Journal reported API estimation of oil and gas well completions fell 7.2% in the first half of 1996 as compared to same period a year ago ... oil well completions plunged 18% while gas well completions gained 1% ... Total drilled footage: 58 million feet vs. 62 million feet over same period ...
- (April 1996) ... API reported U.S. 1st quarter 1996's oil well completions at 1,696 and gas well completions at 2,388 while having 1,224 dry holes ... that is 76.7% successful rate ... almost 32 million feet were drilled ...
All Contents Copyright © 2001
All Rights Reserved
URL: www.oilnergy.com
We appreciate your comments and suggestions.
webslave@oilnergy.com
OILNERGY.COM, Post Office 80456 Austin, Texas 78708