OILNERGY: news, energy news, oil news, oil price, gas price

IMPORTANT OIL & GAS NEWS

OIL & GAS NEWS ARCHIVE ... 2nd half 1997

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

(12/31) ... AGA reported a withdrawal of 96 BCF from the natural gas storage (68.2% full)... Halliburton completed the sale of its environmental services to Tetra Tech for approx. $32 million ...
(12/30) ... API reported crude oil stocks down 1.31 MMB, distillates stocks down 0.85 MMB, and gasoline stocks up 3.66 MMB, refinery capacity up 0.7% to 96.6% compared to last week ... Cliffs Drilling completes the acquisition of 2 offshore platforms and 1 jackup rig in Trinidad, previously operated by Well Services (Marine) Ltd. ... Information Handling Services announced the acquistion of Petroleum Information/Dwights LLC, last year IHS acquired Petroconsultants ...
(12/29) ... Iran and Turkmenistan inaugurate the 125-mile pipeline supplying 50 billion cubic feet of gas per year to northern Iran ... Patterson Energy announced plan to acquire Robertson Onshore Drilling including 14 land rigs for approx $40 million ...
(12/24) ... AGA reported a withdrawal of 135 BCF from the natural gas storage (71.3% full)...
(12/23) ... API reported crude oil stocks down 4.64 MMB, distillates stocks down 2.01 MMB, and gasoline stocks up 0.09 MMB, refinery capacity stayed at 95.9% compared to last week ... Calpine completed the acquisition of the stock of Gas Energy from The Brooklyn Union Gas Co. for approx $100 million ... Ocean Energy and United Meridian announced plan to merge creating a $3 billion company ...
(12/22) ... Unocal Patagonia Ltd signed a joint operating agreement with Argentina's YPF S.A. for the exploration and development of an offshore area of 7,500 square miles ... Cypress Energycompleted the acquisition of a subsidiary of Jordan Petroleum involving assets in the Thorsby area of central Alberta ... Mason Oil announces the acquisition of Mataranka Oil NL including the holding of 2.4 million acres in the Northern Territories of Australia, 300 miles north of Darwin ....
(12/19) ... Shell agrees to trade its Louisiana onshore properties and seismic portfolios for 40% equity stake in Meridian ... FTC ok'd for a $17 billion joint venture between Shell and Texaco to become the largest U.S. oil products marketers ... Pioneer Natural Resources closes the acquisition of East Texas acreage from American Cometra and Rockland Pipeline resulting in a holding of approx 650,000 acres ...
(12/18) ... KN Energy agrees to acquire MidCon Corp (wholly owned subsidiary of Occidental Petroleum) for approx. $4 billion ... Howell closes part of its acquisition package with Amoco in Wyoming covering the Elk Basin and Salt Creek fields for approx $115 million ... Nipsco plans to acquire Bay State Gas for $780 million creating the 10th U.S. largest natural gas distributor ...
(12/17) ... AGA reported a withdrawal of 136 BCF from the natural gas storage (75.5% full)...
(12/16) ... API reported crude oil stocks up 5.08 MMB, distillates stocks up 0.28 MMB, and gasoline stocks up 1.85 MMB, refinery capacity up 1.1% to 95.9% compared to last week ... The U.N. predicted crude oil price will range from 17 to 20 $/BBL with an average of $18/BBL in 1998 ... The DOE projected U.S. production to decline from 6.5 MMB/D to 4.9 MMB/D in 2020 while import to increase from 46% to 66% and price to increase slightly from $20.48/BBL to $22.32/BBL ...
(12/11) ... Unit Corp purchased Hickman Drilling covering 9 drilling rigs bringing up company total of 34 rigs ...
(12/10) ... AGA reported a withdrawal of 69 BCF from the natural gas storage (79.8% full) ... Western Atlas completed the acquisition of Heartland Kingfisher, a well logging in Canada ... Parker Drilling is approved to acquire Hercules Offshore involving 10 offshore rigs and platforms for approx $195 million ...
(12/09) ... API reported crude oil stocks down 5.09 MMB, distillates stocks up 0.48 MMB, and gasoline stocks down 1.64 MMB, refinery capacity down 1.2% to 94.8% compared to last week ... Compstock Resources closed the acquisition of offshore Louisiana properties from Bois d'Arc Resources for approx. $203 million ...
(12/08) ... Western Atlas announced the acquisition of ParaMagnetic Logging for the patented "Through Casing Resistivity Tool" ... The FTC ok'ed Marathon and Ashland to form Marathon Ashland Petroleum LLC ...
(12/05) ... Snyder Oil filed a law suit to block the sale of the Beaver Creek field from Amoco to Howell as Snyder contends that it has the preferential right to purchase the field ...
(12/03) ... AGA reported a withdrawal of 36 BCF from the natural gas storage (81.9% full) ...Pool Energy Services (Houston) announced the acquisition of AA Oilfield Services (Hobbs, NM) ... Key Energy (East Brunswick, NJ) announced the acquisition of Wellcorps, White Rhino Drilling, and S&R Cable (Michigan) for approx. $8.5 million ... together with the recent acquisition of Win-Tex Drilling (Abilene, TX), Key Energy now has 38 drilling rigs and 795 well service rigs ...
(12/02) ... API reported crude oil stocks up 4.32 MMB, distillates stocks down 0.15 MMB, and gasoline stocks up 2.82 MMB, refinery capacity 96.0% vs 95.1% last week ... Benton Oil & Gas (California) signed the agreement with the Republic of Senegal to operate and explore in 600,000 offshore acres ... Cross Timbers Oil (Fort Worth) closed the acquisition of Amoco's properties in the San Juan basin for approx. $188 million ... Trans Montaigne Oil (Denver) closed the acquisition of Independent Terminal and Pipeline Co. (Houston) for approx $32 million ...
(12/01) ... Coho Energy (Dallas) agreed to acquire Amoco's interest in southern Oklahoma properties for approx $257 million ...
(11/29) ... OPEC ministers agreed to increase the ceiling to 27.5 million barrels per day from 25.033 ...
(11/26) ... AGA reported a withdrawal of 108 BCF from the natural gas storage (83.1% full) ...
(11/25) ... API reported crude oil stocks up 3.56 MMB, distillates stocks down 0.38 MMB, and gasoline stocks up 0.43 MMB, refinery capacity 95.1% vs 92.1% last week ...Gothic Energy (Tulsa) announced plan to acquire some 700 wells and acreage in the Anadarko and Arkoma basins of Oklahoma from Amoco ... USX closed the sale of its Delhi pipeline and group to Koch Industries ... Denbury Resources (Dallas & Calgary) agrees to purchase oil properties in the Heidelberg field in Mississippi from Chevron for $202 million ...
(11/24) ... Seneca announced plan to acquire approx. 500 wells in the Midway-Sunset and Lost Hills fields in the San Juan basin of California from Whittier Trust Co. ... Williams Cosagreed to acquire MAPCO for approx. $2.7B ... OPEC to meet in Jakarta from 11/26 to 12/1 ... Shell Expro announced that the Osprey and Cormorant oil fields in British waters were shut down affecting 50,000 barrels per day of Brent crude. The Osprey had a problem with the umbilical cord on the seafloor and the Cormorant had problems with water pumps ... Sonat to acquire Zilkha (Houston) for approx. $1.3 B for producing wells and acreage in the Gulf of Mexico ...
(11/21) ... Apache closed the acquisition of Mobil's Ampolex's properties offshore Western Australia for approx. $300 MM ... Vintage Petroleum (Tulsa) acquired Chevron's interest in the Rio Vista Deep field in Sacramento basin (California) for $13.3 MM ... Howell Corp. (Houston) agreed to purchase producing properties in Wyoming, Montana, Colorado and North Dakota (including the Beaver Creek, Elk Basin, and Salt Creek fields) from Amoco for $302.5 million ...
(11/19) ... AGA reported a withdrawal of 64 BCF from the natural gas storage (86.5% full) ...
(11/18) ... API reported crude oil stocks up 3.98 MMB, distillates stocks down 0.65 MMB, and gasoline stocks up 0.69 MMB, refinery capacity 92.1% vs 92.6% last week ...
(11/17) ... UPRC terminates its offer for Pennzoil ... Texoil announced the merger with Cliffwood Oil & Gas ... Enron plans to invest $20 MM in Sheridan Energy's stocks ...
(11/14) ... Tejas Gas announced the agreement to acquire Amoco Gas Co. ...
(11/13) Chesapeake Energy announced the acquision of Hugoton Energy which increases Chesapeake's reserves to 880 Bcfe from 580 Bcfe ...
(11/12) ... AGA reported an injection of 7 BCF into the natural gas storage ...
(11/11) ... API reported crude oil stocks down 2.29 MMB, distillates stocks up 0.25 MMB, and gasoline stocks down 1.55 MMB, refinery capacity 92.6% vs 94.1% last week ... Enron is planning to build a gas pipeline from Bangladesh to India which will carry natural gas to India's eastern coast ... Enron is currently building a $2.8 billion power project in India's western state ...
(11/10) ... Royal Dutch Shell is to build the pipeline to transport natural gas from Turkmen to Turkey and Europe via Iran ... Basin Exploration acquired Midcon Offshore’s chapter 11 properties ... Shell Oil must sell its 108 MBD refinery in Anacortes, Washington as a condition of the merger with Texaco and Aramco's Star Enterprises ...
(11/6) ... Reuters reported OPEC daily production at a new 18-year high of 27.86 million barrels per day ... NGC purchased Texaco Pipeline's Graham oil gathering system in Wise, Jack, Young, Archer, and Wichita Counties, Texas ...
(11/5) ... AGA reported a withdrawal of 5 BCF from the natural gas storage ... first withdrawal this season ... Superior Energy Service completed the acquisition of Sub Surface Tools ...
(11/4) ... API reported crude oil stocks up 6.07 MMB, distillates stocks down 0.75 MMB, and gasoline stocks down 0.18 MMB, refinery capacity 94.1% vs 93.7% last week ...The U.S.includes Sudan with Iran, Libya, and Burma to be investment off-limit to U.S. oil companies ...
(11/3) ... Iraq again refuses to let American experts to join the weapons inspections teams ...
(10/30) ... Phillips Petroleum acquires Pennzoil's interest in the natural gas joint venture in the Zama/Virgo area northwest of Alberta for $104 USMM ... recently Phillips acquired Gulf Canada's interest in the same properties ...
(10/29) ... AGA reported an injection of 27 BCF into the natural gas storage (88.4% full versus 87.5% last week) ...
(10/28) ... API reported crude oil stocks up 5.25 MMB while distillates and gasoline stocks remain unchanged, refinery capacity 93.7% vs 95.1% last week ...Biggest one-day gain in Dow Jones Industrial Average of 337.17 points or 4.71% ... El Paso Energyacquires a natural gas gathering and processing system from PacifiCorp ...
(10/27) ... Biggest drop in Dow Jones Industrial Average of 554.26 points or 7.18% but the 508.00 point drop in 10/19/87 was relatively bigger at 22.6% ...
(10/24) ...Cotton Valley Resources completed the acquisition from Feagan Energy of all of the working interest in 21,000 acres of oil and gas leases and 68 wells located in Nolan and Fisher Counties, Texas ... Baker Hughes announced the completion of the acquisition of Oil Dynamics, mainly in the electric submersible pumps ...
(10/23) ... Key Energy Group (New Jersey) acquired Win-Tex Drilling (Abilene, TX) for $5.3 million ... Key recently acquired BRW Drilling (Levelland, TX) and Jeter Service as well as GSI Trucking and Kahlden Trucking ...
(10/22) ... AGA reported an injection of 63 BCF into the natural gas storage (87.5% full versus 85.5% last week) ... Chesapeake Energy (Oklahoma City) announced the acquisition of DLB Oil & Gas and AnSon Production for 193 million dollars ...
(10/21) ... API reported crude oil stocks down 3.64 MMB, gasoline stocks down ..24 MMB, distillates stocks down .31 MMB, refinery capacity 95.1% vs 97.1% last week ...
(10/20) ... Kinder Morgan Energy Partners LP agreed to acquire Santa Fe Pacific Pipeline Partners for approx 1 billion dollars covering 3,300 miles of pipelines and 14 loading terminals in five states ...
(10/16) ... Phillips announced plan to acquire Gulf Canada's interest in the Zama/Virgo area northwest of Alberta for $165 USMM ...
(10/15) ... two tankers collided in the Strait of Singapore, spilling approx 8 million gallons of heavy fuel oil ... AGA reported an injection of 77 BCF into the natural gas storage (85.5% full versus 83.1% last week) ... API reported crude oil stocks down 2.46 MMB, gasoline stocks down .57 MMB, distillates stocks up .62 MMB, refinery capacity 97.1% vs 97.6% last week ...
(10/9) ... AGA reported an injection of 87 BCF into the natural gas storage (83.1% full versus 80.3% last week) ...
(10/8) ... API reported crude oil stocks up 5.00 MMB ... Iraqi warplanes have violated the "no-fly" zones several times in recent days ...
(10/6) ... Occidental signed agreement to acquire US DOE's 78% interest in the Elk Hill field for 3.65 B$ ...
(10/3) ... The U.S. sent the aircraft carrier Nimitz to the Mideast Gulf to halt Iranian attact targets inside Iraq against the Mujahideen Khalq ...
(10/1) ... AGA reported an injection of 87 BCF into the natural gas storage (80.3% full versus 77.6% last week) ...
(9/30) ... API reported crude oil stocks up 1.91 MMB, gasoline stocks up 1.04 MMB, distillates stocks up 1.61 MMB, refinery capacity at 98.9% vs 97.8% last week ...
(9/29) ... Nine Iranian fighter-bombers attacked two military targets in Iraq, one north and one south of Baghdad ... French Total said its $2 billion contract with Iran to develop the South Pars gas field would not violate the Iran-Libya Sanctions Act ... Russia plans to privatize 34% of the Eastern Oil Company by bid offer starting at $103 million ... Figure was out: Arab countries hold 62% of world's oil reserves and 22% world's gas reserves...
(9/25) ... Turkish troops and war planes were reported moving into northern Iraq agains the Kurds ...
(9/24) ... AGA reported an injection of 73 BCF into the natural gas storage (77.6% full versus 75.3% last week and 74.4% last year)...
(9/23) ... API reported crude oil stocks down 3.41 MMB, gasoline stocks up 5.53 MMB, distillates stocks up 1.57 MMB, refinery capacity at 97.8% vs 98.6% last week ... Shell Oil agreed to acquire Tejas Gas for $61.50 per share or 1.45 billion $'s ...
(9/22) ... Apache and Seagull (50/50) announced a discovery well in Egypt flow testing 5,200 BOPD from 7,000 ft ...
(9/17) ... AGA reported an injection of 88 BCF into the natural gas storage (74.8% full versus 72.6% last week and 71.7% last year)... Apache tested a 8,321 B/D well in the Bohai Bay, China ...
(9/16) ... API reported crude oil stocks up 4.43 MMB, gasoline stocks up 1.36 MMB, distillates stocks up 0.50 MMB, refinery capacity at 98.6% vs 99.1% last week...
(9/15) ... Amerada Hess restarted its 125 MBD refinery in St. Croix ... the 47th bombing of this year of the Cao Limn - Covenas pipeline in Colombia forced Ecopetro to shut the throughput of 250 MBD ... furthermore, Colombia's Cusiana field production is 200 MBD much below the target of 340 MBD ...
(9/12) ... Royal Dutch/Shell agreed to buy the other half of Montell NV from Montedison SpA's for 2 B$ ... Montell was set up 50/50 between Shell and Montedison in April 1995 being the world's largest producer of polypropylene ...
(9/11) ... The Federal Energy Regulatory Commission ordered hundreds of natural gas producers in Kansas to refund approximately one billion dollars (including interest) for severance tax that was passed on to consumers ...
(9/10) ... AGA reported an injection of 96 BCF into the natural gas storage (72.6% full versus 69.6% last week and 69.1% same time last year)...
(9/9) ... API reported crude oil stocks down 7.92 MMB, gasoline stocks up 0.75 MMB, distillates stocks up 5.56 MMB, refinery capacity at 99.1% vs 99.7% last week...
(9/8) ... Lomak plans to acquire Cabot Oil & Gas' properties in Pennsylvania for $92.5 MM ....
(9/5) ... U. S. rig count jumped 52 to 1,032 (versus 790 same time last year) ...
(9/3) ... AGA reported an injection of 84 BCF into the natural gas storage (69.6% full vs. 66.0% same time last year)... API reported crude oil stocks down 3.58 MMB, gasoline stocks down 1.97 MMB, distillates stocks up 0.96 MMB, refinery capacity at 99.7% vs 99.4% last week...
(9/2) ... Dow Jones Industrial Average has biggest gain of 257.36 points (beats 186.84 on October 11, 1987) ...
(8/28) ... Amerada-Hess shut down its 125 MBD St Croix refinery for up to 3 weeks due to mechanical problems ...
(8/27) ... AGA reported an injection of 65 BCF into the natural gas storage (66.9% full vs. 63.1% same time last year)...
(8/26) ... API reported crude oil stocks down 6.9 MMB, gasoline stocks up 1.7 MMB, distillates stocks up 2.8 MMB, refinery capacity at 99.4% vs 95.0% last week...
(8/22) ... Chevron to shut down its U.K. refinery in Wales ...
(8/21) ... El Paso Energy to buy all outstanding stock of Gulf States Gas Pipeline ...
(8/20) ... AGA reported an injection of 70 BCF into the natural gas storage (64.9% full)... National-Oilwell and Dreco Energy Services merger proxy was approved by SEC ...
(8/19) ... API reported crude oil stocks up 4.8 MMB, gasoline stocks down 3.3 MMB, distillates stocks up 2.5 MMB, refinery capacity at 95.0% same as last week ... Texaco announced the acquisition of 20% interest from Italy's AGIP in Kazakstan's giant Karachaganak oil and gas field currently producing 210 MMCFD and 50 MBD ...
(8/18) ... Texaco announced plan to acquire California's Monterey Resources for $1.4 billion to increase approx 385 MMB reserves mostly in the San Joaquin Valley ... Enron signed a production sharing contract with China to develop reserves in the Sichuan Province of central China, the Chuanzhong Block covers 1.8 million acres including the Jinhua, Bajiaochang, Gong and Yingshan fields ...
(8/13) ... EIA predicts 85% increase in worldwide demand for natural gas by 2015 to 145 trillion cubic feet per year (equivalent to a growth of 33 million barrels of oil per day) ... AGA reported an injection of 78 BCF into the natural gas storage (62.7% full) ...
(8/12) ... API reported crude oil stocks up 2.7 MMB, gasoline stocks down 0.9 MMB, distillates stocks down 0.7 MMB, refinery capacity at 95.0% down from 97.1% last week... Santa Fe Energy aquired Argentinian properties from Canada's Anderson Expl ... Shell & Elf bought Hydro-Congo's refinery in Congo ...
(8/7) ... BP equipments destroyed by Colombian rebels ...Mobil exits the real estate business by selling its 50% interest in the Desert Mountain Properties in Scottsdale, Arizona ... Parker Drilling acquired the drilling assets (including 11 drilling and work over rigs) of Bolifor, SA, the largest privately hold drilling contractor in Bolivia ...
(8/6) ... AGA reported an injection of 55 BCF into the natural gas storage (60.2% full)... Shell Midstream Enterprises, Texaco Trading & Transportation, and Marathon have formed ODYSSEY PIPELINE with a capacity of 300 MBD to transport crude from the Gulf of Mexico...
(8/5) ... API reported crude oil stocks up 0.5 MMB, gasoline stocks down 2.7 MMB, distillates stocks up 2.2 MMB, refinery capacity at 97.1% up from 96.1% last week ... Canadian Bow Valley Energy signed agreement to develop Iranian Balal oil field ... Russia opened its first gasoline station in Virginia ...
(8/1) ... California Public Utilities Commission approved the Gas Accord plan which opens intrastate gas line to competition ... Taurus Expl bought Amoco's coal bed methane gas properties in the Black Warrior Basin ...
(7/30) ... AGA reported an injection of 60 BCF into the natural gas storage representing 58.5% full ...
(7/29) ... API reported crude oil stocks down 9.7 MMB, gasoline stocks down 3.2 MMB, distillates stocks down 8.4 MMB, refinery capacity at 96.1% down from 96.7% last week ... Amoco agreed to sell its gasoline stations in Poland to Texaco ...
(7/28) ... Equitable Resources entered agreements to sell their US Western oil and gas properties to Cabot, Inland Resources, Big West Oil&Gas, Summit Resources, and EBOC a total of $174 million ... Russia's NK LUKoil and its affiliate, Nexus Fuels of Texas, announced plan to open gasoline pumps at 5,000 sites in the U.S. ...
(7/24) ... Kerr-McGee's contracts with China now cover more than 3.4 million acres in the South China Sea ... Canada's Tornado Resources signed contracts to explore 2 oil and gas field in Kenya ...
(7/23) ... AGA reported an injection of 58 BCF into the natural gas storage representing 56.6% full ... Harken entered a long-term drilling contract with Parker Drilling for development in Colombia ... Canadian Centurion Energy to sell its Canadian oil & gas assets to Eurogas ...
(7/22) ... API reported crude oil stocks up 1.4 MMB, gasoline stocks down 2.8 MMB, distillates stocks down 1.3 MMB, refinery capacity at 96.7% down from 96.8% last week ...
(7/17) ... PG&E was OK'd by FERC to acquire Valero Energy Corp. ... Louisiana Land & Exploration has agreed to merge with a subsidiary of Burlington Resources for a combined production of approx 90 MBD and 1.7 BCFD ...
(7/15) ... Zapata completed its exit from energy industry by selling its Bolivia oil & gas to Tesoro Unit ... Colombia main pipeline bombed again for the 38th time this year causing Occidental to set force majeure ...
(7/14) ... Baker Hughes completed the acquisition of Drilex International ... Ashland Chemical has formed an Energy Service ...
(7/10) ... German decided to sell off its strategic crude reserves which adds approx 75 MB/D to the market ... Amoco announced to sell its Texas natural gas pipeline unit ... Taurus Expl to acquire coal bed methane properties in the Black Warrior Basin from Amoco ... Texaco formed Texaco Energy Service to market natural gas and power ...
(7/7) ... Colombian National Liberation Army rebels destroyed a section of the largest oil pipeline in Arauca province, eastern Columbia, and then later shot down a helicoper killing 25 ... Meridian Resources and Cairn Energy announced merger ...
(7/1) ... the Diamond Grace supertanker scrapped a low reef in Japan's Yokohama port spilling 13,400 tons (100,000 barrels) of crude toward heavily populated areas including Tokyo ...

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