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IMPORTANT OIL & GAS NEWS

ARCHIVED OIL & GAS NEWS ... 1998

1997 1999 2000 2001 2002 2003 current year

(12/31) ... 1998 average: Scurlock-Permian WTI posted @ $11.95/BBL (-35.8%), NYMEX light sweet @ $14.42/BBL (-30.1%), IPE Brent @ $13.38/BBL (-30.7%), NYMEX heating oil @ $0.3988/gal (-29.3%), NYMEX unleaded gasoline @ $0.4573/gal (-26.2%), NYMEX Henry-hub natural gas @ $2.162/MMBtu (-12.5%), KCBT Waha-hub natural gas @ $2.069/MMBtu (-10.0%) ... Exxon's acquisition of Mobil at $76.9 billion makes second and BP's acquisition of Amoco at $57.6 billion makes fourth on the acquisition list (top is SBC Communications of Ameritech at $78.2 billion) ... PennzEnergy is the new name for Pennzoil ... Middle Bay Oil (Houston, TX) completed the acquisition of Enex Consolidated Partners LP with stock worth $11.5 million ...
(12/30) ... AGA reported a withdrawal of 167 BCF from the natural gas storage, representing a decrease of 5.2% over last week and 86.7% full ... U. S. warplanes destroyed an Iraqi missle site in the southern "no-fly" zone after being fired on ... the Federal Trade Commission approved the merger between Amoco and BP but they must spin off 9 petroleum terminals and 136 stations plus allow 1,600 independent operators to switch brand ...
(12/29) ... API reported crude oil stocks down 2.36 MMB, distillates stocks up 1.75 MMB, unleaded gasoline stocks up 1.68 MMB, and refinery capacity up 2.3% at 96.8% versus last week's ... nationwide crude oil stock is at approximately 335 million barrels, 20 million barrels above this week last year ... Iraq announced that their planes were flying in the "no-fly" zones and would shoot at allied patrolling planes ...
(12/28) ... U. S. warplanes bombed anIraqi missile site in the northern "no-fly" zone after surface-to-air missiles were fired at the patrolling fighters ... Iraqi export reached record of 2.51 million barrels per day last week despite of the cruise missile attack ... Kerr-McGee began production from their Ewing Bank 710 and West Cameron 638 platforms in the Gulf of Mexico ... Future Petroleum (Dallas, TX) completed the acquisition of Bargo Energy Resources for approx $2 million and stocks ...
(12/24) ... Raider Resources Ltd (Calgary) agreed to acquire all of the issued and outstanding shares of Brigadier Energy ...
(12/23) ... AGA reported a withdrawal of 85 BCF from the natural gas storage, representing a decrease of 2.7% over last week and 91.9% full ... Chevron agreed to acquire Rutherford Moran Oil (Houston, TX) for approx $91 million mainly for the 46.34% interest in Block B8/32 in the Gulf of Thailand ... Berry Petroleum (Taft, CA) agreed to acquire the Placerita oil field, south of Bakersfield, from Aera Energy for approx $35 million ... KeySpan Energy (NY) acquired an additional 25.5% interest in Premier Transco from BG plc for approx $32 million involving the pipeline system from southwest Scotland to northern Ireland ... Meridian Resource announced their offset well in the Weeks Island field flow tested 2,537 B/D and 724 MCF/D from 2 zones at 6,000 feet ...
(12/22) ... API reported crude oil stocks up 0.59 MMB, distillates stocks down 1.10 MMB, unleaded gasoline stocks down 1.54 MMB, and refinery capacity down 1.2% at 94.5% versus last week's ... Duke Energy International took sole ownership of the Eastern Gas Pipeline project by acquiring Westcoast Energy Australia's 50% and BHP Petroleum's 50% for the right to develop and operate the 500-mile pipeline from Melbourne to Sydney ... Brazilian government passed a decree lifting import tax through 2001 for machinery and services related to oil and gas industry ... Argentina's YPF SA acquired 51% of Global Petroleum (Massachussetts) for approx $29 million ...
(12/21) ... Midcoast Energy Resources (Houston, TX) agreed to acquire the Gloria pipeline system in southeast Lousiana and the Bruni gathering system in south Texas from Koch Gateway Pipeline for approx $7.5 million ... Transmontaigne (Denver, CO) purchased the petroleum products terminal at Rensselaer near Albany, NY from Sunoco ... Core Laboratories (Houston, TX) completed the merger with The Andrews Group International, a seismic data processing and interpretation company ... Duke Energy Trading & Marketing (Houston, TX) agreed to acquire NP Energy (Louisville, KY), an electric trading and marketing company ...
(12/18) ... Baker Hughes reported US drilling rig count at 642 (489 gas and 152 oil) versus 1,019 same week last year ... record low was 596 in the summer of 1993 ... Vista Energy Resources (Midland, Texas) completed the acquisition of oil and gas properties in Ward and Winkler Counties, Texas from IP Petroleum for approx $19 million ... Celsius Energy Resources, a wholly owned subsidiary of Questa, completed the acquisition of oil and gas properties in northeast British Columbia from Reserve Royalty for approx $3 million ... Santa Fe Energy (Houston, TX) signed an agreement to joint venture with Petrobras for the exploration and production on two blocks in the Potiguar Basin, offshore Brazil ...
(12/17) ... Oil ministers from Saudi Arabia, Venezuela, and Mexico urged oil producers to "strictly comply" with production cuts promises ... Duke Energy International (Houston, TX) agreed to acquire the power business of BHP in Australia and the Pacific Rim for approx $315 million ... Toreador Royalty (Dallas, TX) completed the acquisition of minerals and royalty in Mississippi, Alabama, and Louisiana from Howell Petroleum for approx $13 million ... Westcoast Energy (Vancouver) upped their 14.5% interest in the Alliance Pipeline Project with Unocal's 9.078% for approx $50 million ... the project involves building of the 1,900-mile 1.3 BCF/D-capacity pipeline system from British Columbia and Alberta to Chicago expected to run in 2000 ...
(12/16) ... Cruise missles were fired toward targets in Iraq at after the market closed but traders reacted early in the morning when American battleships were positioning themselves to fire the Tomahawks ... "Operation Desert Fox" is joined by the U.S. and Britain could last for four days ... AGA reported a withdrawal of 49 BCF from the natural gas storage, representing a decrease of 1.6% over last week and 94.6% full ... Continental Emsco and Smith International's Wilson Supply signed a Memorandum of Understanding to form a Joint Venture for oil field distribution and supply ... Parker Drilling signed a 3-year contract with Burlington Resources for a number of 25,000-foot wells in the Madden Deep Unit of Wyoming's Wind River Basin ... Spirit Energy 76 terminated the sales agreement of their Michigan oil and gas properties to Newstar Energy USA and Omimex Energy ...
(12/15) ... API reported crude oil stocks up 1.04 MMB, distillates stocks up 0.75 MMB, unleaded gasoline stocks up 1.08 MMB, and refinery capacity up 1.2% at 95.7% versus last week's ... An unidentified buyer expressed an interest in acquiring Enron's 53.5% stake of Enron Oil & Gas ... Frontera Resources (Houston, TX) signed a production sharing agreement for the Kursangi-Karabagli Block covering 116,000 acres onshore Azerbaijan ... Frontier Energy, a partnership between Sempra and Frontier Utilities, began delivering gas to customers in North Carolina with the new delivery system ... Arco Alaska was granted the right-of-way to build a pipeline to transport crude from the Alpine field which expected to have a reserve of 365 million barrels ...
(12/14) ... Southwest Gas Corp. (Las Vegas, NV) agreed to merge as a division of ONEOK (Tulsa, OK) in a $1.8 billion deal creating the largest domestic stand-alone gas distribution company ... ONEOK and Magnum Hunter Resources formed a strategic alliance with ONEOK to buy in 31% equity owner, to share the acquisition of Spirit 76, and to market Oklahoma production ... EEX (Houston, TX) agreed to sell its oil and gas properties in Oklahoma to Lariat Petroleum and in North Central Texas to Key Production for approx $32 million ... Cabot Oil & Gas (Houston, TX) plans to acquire 68 wells in 10 fields onshore Louisiana from Oryx for approx $72 million ... Chevron, Sonangol, Agip Angola, and Elf announced the production from Angola's offshore Block O Cabinda reaching 510,000 B/D ...
(12/11) ... Algeria blamed some OPEC members being selfish and vowed to take action to protect its interst ... Libya demanded OPEC members to cut another 2 million barrels per day ... the current production cut of 2.6 MMB/D was agreed to be extended through 1999 except Venezuela's new president-elect announced that he would go only through June 1999 ... Devon Energy (Oklahoma City, OK) and Northstar Energy (Calgary) completed the merger with a total capitalization of $1.9 billion ...
(12/10) ... Libyan leader Gaddafi asked OPEC members to halt oil production during this winter season ... Shareholders of Amoco approved the merger with BP ... Talisman Energy (UK) Ltd was awarded five North Sea Blocks in the Core Moray Firth area ... Givot Olam Oil Ltd (Jerusalem) announced the confirmation of commercially viable oil in the Meged region near Rosh Haayin, Israel, and which was the discovery of the presence of Paleozoic oil basin in Israel ...
(12/9) ... AGA reported a build up of 27 BCF into the natural gas storage, representing an increase of 0.9% over last week and 96.2% full ... Iraq blocked U.N. arms inspectors from entering the headquarter of the Baath Party in Baghdad ... Dutch Stock Page reported that Royal Dutch / Shell might be planning to acquire Chevron for approx $65 billion ... Cabot Oil & Gas (Houston, TX) announced their discovery well in Pennsylvania producing 7 MMCF/D from the Oriskany at 8,000 feet ... Tracer Petroleum (Vancouver) signed an agreement to acquire a minimum of 80% interest in the Sungai Gelam A, B, and D Technical Assistance Contract in south Sumatra, Indonesia ... Coral Energy LP and AlliedSignal Engines formed an alliance to market cogeneration to the U.S. and Canada ... Houston Exploration announced their 2 wells in the East Cameron block flowing 15 MMCF/D from 12,000 feet ...
(12/8) ... API reported crude oil stocks down 2.87 MMB, distillates stocks up 2.48 MMB, unleaded gasoline stocks up 1.89 MMB, and refinery capacity unchanged at 94.1% versus last week's ... AAA survey shown gasoline price being lowest since 1989 ... Key Energy Services, Inc. is the new name for Key Energy Group, Inc. (East Brunswick, NJ) ... Chisholm Energy Partners (Houston, TX) acquired the shaker division of Triton Tools & Supply and operated as Phoenix E&P Technology, LLC (Ellisville, MS) ... Superior Propane (Calgary) completed the acquisition of ICG Propane from Petro-Canada ... AmeriGas Partners LP (Valley Forge, PA) acquired the propane marketing operations from 5 entities to add 8,800 customers ...
(12/7) ... Unocal withdrew from 2 pipeline projects, one from Caspian region into Turkey and one from Caspian Sea to Pakistan citing low oil price ... Scottish Power bade to buy PacifiCorp for $7.9 billion would depend on regulatory for foreign ownership of U.S. utilities companies ... Williams announced the completion of the third crude unit at their refinery in North Pole, Alaska costing $70 million and added 17,000 B/D capacity ... Mitchell Energy received approval from the Texas Railroad Commission to reduce the spacing to 40-acre in their Newark East (Barnett Shale) natural gas field in north Texas ... BEC Energy, a subsidiary of Boston Edison Co., agreed to combine with Commonwealth Energy System creating a unity worth $4.4 billion ... Horizontal Ventures and Saba Petroleum agreed to merge on a stock swap ...
(12/4) ... Mobil Oil Qatar and Qatar General Petroleum Corp. signed a "Heads of Agreement" for the Enhanced Gas Utilization Project of their North field ... CORDEX Petroleums completed the sale of certain assets and CORDEX Petroleum Argentina to Gener SA ... Diaz Resources and Uniglobe Ventures formed a 60/40 joint venture in new acquisition and interest in the Michichi area of Alberta ...
(12/3) ... Enervest Management acquired certain natural gas properties in Monroe, LA from Coho Energy for approx $65 million ... Houston Exploration completed the acquisition of 3 producing offshore blocks in the Mustang Island OCS in the Gulf of Mexico from Chevron ... Sapient Energy (Tulsa, OK) completed the acquisition of 31 properties in northwestern Oklahoma from Marathon ... Williams reported its NGL pipeline north of Moab, UT ruptured and forced to shut down ... also that Williams agreed to acquire 12 products terminals in southeastern U.S. from Amoco ...
(12/2) ... AGA reported a build up of 8 BCF into the natural gas storage, representing an increase of 0.2% over last week and 95.3% full ... North Central Oil Corp. (Houston, TX) completed the acquisition of gas properties from Conoco for approx $73 million including gas wells in the Hundido field, Zapata County and Vaquillas Ranch / Mujeres Creek field, Webb County in South Texas ... Pennaco Energy / CMS Joint Venture (Denver, CO) is now using four drilling rigs to drill for coal bed methane gas in their 492,000-acre area of the Powder River Basin of Wyoming ... Maxus Venezuela and BP Exploracion de Venezuela announced their discovery well in the Quiriquire Block in eastern Venezuela completed for 7,121 B/D and 33.4 MMCF/D ... Chesapeake Energy (Oklahoma City, OK) announced their discovery well in the Tuscaloosa Trend in Louisiana flowing 18.1 MMCF/D from one out of nine possible pay zones ...
(12/1) ... API reported crude oil stocks down 5.71 MMB, distillates stocks up 1.59 MMB, unleaded gasoline stocks up 0.42 MMB, and refinery capacity up 0.9% at 94.1% versus last week's ... Exxon agreed to acquire Mobil for approx $77.2 billion, reuniting the two pieces left after the breakup of John D. Rockefeller's Standard Oil ... France's Total SA agreed to acquire Belgium's Petrofina SA for approx $11.8 billion, creating Total Fina, world's 5th largest oil company ... unleaded gasoline retail price is lowest since 1990 when the Energy Department began tracking ... EOTT completed the acquisition of certain crude oil gathering and transportation from affiliates of Koch Industries for approx $184 million cash plus stock ...
(11/30) ... Cabot Oil & Gas (Houston, TX) acquired 3 gas wells plus 5,400 acres in Carbon County, WY from Oxy USA for approx $5.2 million ... Shell and Texaco called off talks on alliance in their European refining business ... Lyric International (Dallas, TX) acquired 50% interest in Seismic International for $5 million in stock, also 56 wells in Mitchell County for $1.8 million in stock and cash ...
(11/25) ... AGA reported a withdrawal of 13 BCF from the natural gas storage, representing a decrease of 0.4% over last week and 95.1% full ... Magnum Hunter (Irving, TX) signed a Purchase & Sale Agreement to acquire properties in Oklahoma and Texas from Spirit Energy 76 for approx $36 million ... BP stockholders approved the merger with Amoco ... Equatorial Energy signed the Letter of Intent to acquire interests in properties in western Canada from Gulf Canada Resources for approx $45.5 million in cash and stock ... Seagull Energy agreed to be combined into Ocean Energy in a stock-for-stock merge creating the 10th largest domestic independent worth $3.6 billion ...
(11/24) ... API reported crude oil stocks up 2.95 MMB, distillates stocks down 1.28 MMB, unleaded gasoline stocks down 0.35 MMB, and refinery capacity down 2.0% at 93.2% versus last week's ... OPEC members are meeting today in Vienna ... The U. N. voted to permit Iraq to sell another $5.2 billion worth of oil during the next six months ... Mexico's average crude price is lowest in 14 years while Brent is at 12-year low ... Benz Energy (Vancouver) and Burlington Resources (Houston, TX) entered a joint venture agreement to pursue government contracts to redevelop Ecuador oil and gas fields ... Questar Pipeline (Salt Lake City, UT) completed the acquisition of ARCO Pipe Line Co.'s Line 90 (16-inch, 700-mile, between New Mexico and California) for approx $38 million and then renamed to Southern Trails Pipeline ...
(11/23) ... Future Petroleum (Dallas, TX) acquired properties in Texas and Louisiana from Bargo Energy Resources which were acquired from Cody Energy for approx $4.5 million ... Harken Energy (Dallas, TX) signed the Definitive Purchase and Sale Agreement with Parkcrest Explorations (Vancouver) for their interests in the Llanos Basin, Colombia ... Gopher Oil & Gas (Calgary) agreed to acquire all issued and outstanding common shares of Scarlet Exploration ... Clayton Williams (Midland, TX) completed the acquisition of east Texas properties from Sonat Exploration for approx $46.5 million ... Duke Energy Field Services agreed to acquire US natural gathering, processing, pipeline and marketing operations from Union Pacific Resource Group for approx $1.35 billion ...
(11/20) ... Kuwaiti oil minister met with representatives from Arco, Chevron, Exxon, Mobil, Pennzoil, Phillips Petroleum, and Texaco to solicit bids to boost their production ... Founders Energy Ltd (Calgary) agreed to offer to purchase all of the issued and outstanding common shares of Opal Energy with cash and stock ... Meteor Industries (Denver, CO) signed a letter of intent to acquire the assets of Carroll Oil Co., a gasoline and oil distributor in Colorado ...
(11/19) ... ONEOK agreed to acquire certain gas properties in Beckham an Roger Mills Counties, OK from St. Mary Land & Exploration for approx $25.5 million ... as well as properties in Oklahoma from Anderman Oil, AOL Holdings, Mohan Petroleum Oklahoma for approx $28.5 million ... Union Texas de Bolivia, Maxus Bolia, and B G Exploration announced their exploratory well in the 2.5-million acre Caipipendi Block in southern Bolivia tested 11.5 MMCF/D and 370 B/D from 15,900 feet ... Apache, Repsol, and Novus announced their well in the Khalda Offset Concession, western desert in Egypt, tested 19.1 MMCF/D and 732 B/D from 10,900 feet ... CMS Energy announced their well in the Baguel Concession in south central Tunisia flowed 7.3 MMCF/D and 735 B/D ... Gruy Petroleum Management, a subsidiary of Magnum Hunter (Irving, TX) announced their well in Collingsworth County, panhandle Texas tested 1.6 MMCF/D from 2,200 feet ...
(11/18) ... AGA reported a withdrawal of 24 BCF from the natural gas storage, representing a decrease of 0.8% over last week and 95.5% full ... Texaco acquired 50% working interest and operation of the Block 1 offshore Angola from Royal Dutch/Shell Group covering 986,600 acres ... Fidelity Oil Group (Bismarck, ND) acquired 20% interest in certain oil and gas properties from JMI Energy (Houston, TX) ...Core Laboratories (Houston, TX) announced plans to acquire all of the outstanding shares of the Andrews Group International (Houston, TX) and its AGI Mexicana S.A. de C.V. in a stock-for-stock purchase ...
(11/17) ... API reported crude oil stocks down 1.91 MMB, distillates stocks up 1.21 MMB, unleaded gasoline stocks up 3.53 MMB, and refinery capacity down 0.4% at 95.2% versus last week's ... Newport Petroleum (Calgary) acquired interest in the sour-gas Caroline Swan Hill Gas Unit well #1 and the Caroline Gas Facilities (14 gas wells, gathering and treating facilities) from UPRC for approx $110 million ... AAA reported unleaded gasoline price is lowest in the nation since March 1992 ... Gruy Petroleum Management, a subsidiary of Magnum Hunter (Irving, TX) announced the discovery of an Abbo reef oil reservoir in Terry County, Texas with pump test between 100 to 200 B/D ...
(11/16) ... Allied Consolidated Energy (Alberta) completed the acquisition of NCE Oil & Gas Income Property Fund and NCE Income Resources for approx $1.3 million in stock ... Howell Corp (Houston, TX) agreed to sell its interest in 875,000 acres in Alabama, Mississippi, and Louisiana for approx $13 million ... Santa Fe Energy, Kerr-McGee Sumatra, Amerada Hess, and Pertamina announced the discovery well in the Jabung Block on Sumatra island, tested 22 MMCF/D and 1,414 B/D from three tests at 6,000 feet ... Abraxas Petroleum (San Antonio, TX) agreed to acquire Canada's New Cache Petroleum for approx $60 million in cash and $23 million in debt ... Conoco, Texaco, and Indonesia Petroleum announced their well in Indonesia's West Natuna Sea tested 8,000 B/D and 7.5 MMCF/D from 8,500 feet ...
(11/13) ... U.N.'s Annan planned to meed with the Iraqi Ambassador tonight ... during the day, President Saddam Hussein told a Russian envoy that Iraq would "react positively to any initiative which meets Iraq's legitimate demand" ... Williams Energy Service completed the acquisition of Volunteer Energy (Columbus, OH) natural gas and electricity service provider ... Sheridan Energy announced their discovery well in Zapata County, TX tested 11.7 MMCF/D from two Wilcox tests, another well in Victoria County, TX tested 2.7 MMCF/D and 50 B/D from 10,500-ft Wilcox, and another in Dewitt County, TX, tested 5.9 MMCF/D and 45 B/D from 12,000-ft Wilcox ...
(11/12) ... Iraq said that they would stop exporting crude oil if the oil monitors (Dutch Saybolt) were to leave ... volume averaged 1.8 million barrels per day in recent months ... France's Total, Unocal, Kerr-McGee, Vanco Energy, and Reading & Bates formed Vanco Gabon Group entered in a Production Sharing Contract for 2 offshore blocks totaling approx 5,000 acres ... Harken Costa Rica (80%) and an affiliate of MKJ Xploration (20%) entered an Exploration & Production Contract covering 1.4 million acres onshore and offshore Costa Rica ... Ocean Energy acquired additional interest in certain properties from John Hancock Mutual Life Ins co. for approx $38 million ... also announced the discovery offshore Equitorial Guinea flow tested at 1,500 B/D at 4,200 feet ... Armed Nigerian youths stormed a Texaco drilling rig and abducted 8 workers (3 are American) ...
(11/11) ... AGA reported a reduction, first of the season, of 24 BCF from the natural gas storage, representing a decrease of 0.8% over last week and 96.2% full ... all weapons inspectors and the supporting staff as well a humanitarian workers left Iraq after the U. S. announced no more tolerance ... a joint venture was formed with Sheridan Energy putting up $58 million and Amerada Hess puts up their properties in the Sacramento Basin, CA and certain other properties ... Westminster Resources (Calgary) agreed to acquire interest in approx 192,000 acres and producing properties in the Gunnel / Petitot field, northeast of British Columbia from Summit Resources ... Unocal announced the discovery of the South Gomin gas field in the Gulf of Thailand with the new well tested a total of 41 MMCF/D from three tests at 14,000 feet ... Meridian announced their new well in the South Thornwell field in Jefferson Davis Parish, LA tested 18 MMCF/D and 472 B/D from 11,600 feet ...
(11/10) ... API reported crude oil stocks down 1.91 MMB, distillates stocks up 0.33 MMB, unleaded gasoline stocks up 1.65 MMB, and refinery capacity up 2.0% at 95.6% versus last week's ... 3DX Technologies (Houston, TX) agreed to sell half of its interest in the producing properties in the Rusty field, Matagorda County, TX for approx $2 million ... U. S. Crude (Colton, CA) and Oklahoma's Rainbow Productions formed a joint venture to acquire marginal oil properties and utilize the Thermo Gas Repressurizing System to enhance the production ... Houton Exploration (Houston, TX) agreed to acquire certain producing properties and facilities offshore Mustang Island, south Texas from Chevron for approx $85 million ...
(11/9) ... Vintage Petroleum (Tulsa, OK) agreed to acquire gas properties in the Sacramento Basin in California from Texaco for approx $29 million ... National Oil Well (Houston, Texas) agreed to acquire DOSCO, a division of Canada's Wesburne Industrial Enterprises, and 2 of its subsidiaries with stock and approx $10 million ... The Exploration Co. (San Antonio, TX) acquired interest in the Maverick Basin in south Texas from Ashtola Exploration increasing their interest holding to 71,600 acres ... FieldPoint Petroleum (Austin, TX) acquired certain interest in oil and gas properties in TX, OK, and NM from Abraxas Petroleum ...
(11/6) ... Vintage Petroleum (Tulsa, OK) acquired interest in Ecuador's Orienta Basin from Elf Aquitaine for approx $40 million in cash and stock ... Destiny Resources Services (Calgary, Alberta) agreed to purchase all shares of McConnell Group of Companies (Brooks, Alberta) for approx $8.7 million in cash and stock ... Weatherford International was selected by Operandora Cerro Negro, a joint venture of Petroleos de Venezuela, Mobil, and Veba, to provide artificial lift systems and serivces for 5 years ...
(11/5) ... The U.N. Security Council demanded that Iraq resume cooperation with the weapons inspection, which Iraq already announced that they would not comply ... TexOil (Houston, TX) completed the acquisition of oil & gas properties in nine fields in south Texas and Louisiana from Sonat Exploration for approx $17.4 million ... Duke Energy (Houston, TX) purchased half of ONEOK's interest in 4 gas gathering systems (2 in Oklahoma, 1 in Kansas, and 1 in Louisiana) and will joint ONEOK in building a new gas processing plant and gathering system in the Sycamore field area of Oklahoma ... PennWell was awared by the Federal Trade Commission the license for Dwights' well and production history as to be the competitor in that market after the merger of Dwights and Petroleum Information ... Eastern Group, a wholly owned subsidiary of Texas Utilities, reached an agreement to purchase the assets of BHP in the southern North Sea for approx $166 million ...
(11/4) ... AGA reported a build up of 48 BCF in the natural gas storage, representing an increase of 1.5% over last week and 97.0% full ... Duke Energy Field Services (Houston, TX) now owns 100% of the Roberts Ranch natural gas processing plant in Midland County, TX after acquiring 56% interest from an affiliate of Dynegy ... Fortune Natural Resources (Houston, TX) signed Letters of Intent to acquire 3DX Tecnologies as well as Petro-Guard Co. and Petro-Guard Production LLC ... Apache announced their successful well offshore northwest Australia tested 53.4 MMCF/D and 460 B/D from 2 zones at 9,500 feet ...
(11/3) ... API reported crude oil stocks up 7.99 MMB, distillates stocks down 0.95 MMB, unleaded gasoline stocks up 3.21 MMB, and refinery capacity up 5.1% at 93.6% versus last week's ... Chevron Environmental Management Co. is the newly formed subsidiary of Chevron to manage remediation of environmental-related activities of its companies ... Kaneb Pipe Line Partners (Dallas, TX) acquired the petroleum products terminal in Stockton, CA from Tosco ... Semco Energy (Port Huron, MI) acquired Oilfield Materials Consultants for stock worth $15.1 million plus $1.1 million in debt ... Samson Resources (Tulsa, OK) acquired oil and gas properties in TX, LA, MI, AL, OK, and NM from Duer Wagner for over $40 million ... also agreed to acquire gas properties in east Texas from Nuevo Energy for approx $19 million ...
(11/2) ... Fuel & Marine Marketing LLC is the new joint venture formed by Texaco (69%) and Chevron (31%) ... CMS Energy (Dearborn, MI) agreed to acquire Panhandle Eastern Pipe Line Co., Trunkline Gas Co., and Trunkline LNG Co. terminals from Duke Energy for approx $1.9 billion ... Occidental Petroleum withdraws from the Parmaneft joint venture to explore in the Republic of Komi, they have 75% stake in the $10-million 5-year lease ... GHP Exploration (Houston, TX) was awarded a 2-yr seismic option permit in a 1.1-million acre El Hamra Concession in southwest Tunisia ... Vanco Energy (Houston, TX) plans to conduct 2D seismic offshore Morocco after being awarded the 1-year permit in September ... Petroleum Development (Bridgeport, WV) acquired all interest in 13-well Antrim Shale production unit in Michigan for approx $2.8 million ...
(11/1) ... after the U. N. Security Council voted not to lift the economic sanctions, Iraq again announced refusals to cooperate with U. N. weapons inspectors ...
(10/30) ... Pool Energy rejected the $486 million cash+stock acquisition offer from Nabors Industries in a letter today repeating their rejection dated 10/26 after Nabors Industries made the announcement of their plan ... Remington Oil & Gas (Dallas, TX) acquired interests in 10 offshore blocks from Union Pacific Resources Group for approx $7.65 million ... Vintage Petroleum acquired certain production assets and 50% interest in the Redman Smackover Joint Venture from Western Gas Resources ... An affiliate of Dynegy acquired the Edgewood gas gathering system from Western Gas Resources ...
(10/29) ... Mera Petroleum and Millennium Energy (Calgary) were awarded the right to explore an area covering 320,000 acres in the northeast Guajira Peninsula, Colombia ... Parker Drilling (Tulsa, OK) agreed to acquire Superior Energy Services in a deal worth approx $168 million ... Garnet Resources was merged into Avira Petroleum (Dallas, TX) ... Enron Oil & Gas acquired Isramco's 81.3% interest in the B.E. Wilber gas unit in the Devil field, Jefferson County, TX for approx $1 million ... Core Laboratories (Houston, TX) completed the acquisition of Geoservices (Calgary) ...
(10/28) ... AGA reported a build up of 36 BCF in the natural gas storage, representing an increase of 1.1% over last week and 95.5% full ... Oryx Energy reported a loss of $43 million in the 3rd quarter versus a gain of $42 million last year's while Sempra Energy down 11% ... Hallwood Consolidated Resources acquired the interest in approx 570 wells in Texas from Arcadia Exploration & Production for approx $8.1 million ... Vista Energy Resources, Inc. was formed from the merger of Vista Resources Partners and Midland Resources ... EuroGas (New York) acquired 8.5 million shares (31.4%) of Canada's Big Horn Resources, Ltd. ... Canada's Black Sea Energy Ltd and Sunwing Energy Ltd plan to merge ... Millenium Energy completed the acquisition of assets from 2 partnerships from EnerVest Resource Management for approx $4.1 million ... Nortrans Offshore Ltd (Oslo, Norway) began production at 8,000 B/D from the Ruby field offshore Vietnam ...
(10/27) ... API reported crude oil stocks up 7.87 MMB, distillates stocks up 0.64 MMB, unleaded gasoline stocks down 2.08 MMB, and refinery capacity up 1.7% at 88.5% versus last week's ... Unocal reported 3rd quarter earnings down 80% compared to last year's, Ultramar Diamond Shamrock down 36%, Kerr-McGee down 71% ... Vintage Petroleum (Tulsa, OK) agreed to acquired oil and gas properties in east Texas from an undisclosed seller for approx $49.7 million ... Setex Oil & Gas (Dallas, TX) announced their successful horizontal sidetrack from an existing wellbore in the Madisonville field, Grimes County, TX flowing 200 B/D and 1.5 MMCF/D while drilling in the Georgetown at 9,750 feet ... Vastar Resources announced the discovery of the Santa Ana field in Hidalgo County, TX with two wells tested a total of 23 MMCF/D and 1,500 B/D from Frio sands ... Nippon Oil and Mitsubishi Oil planned to merge in April 1999 to become Japan's largest oil company ...
(10/26) ... Anadarko and Arco Alaska announced their discovery well in the Cook Inlet area tested 10.6 MMCF/D from the Moquawkie formation at 2,400 feet ... CMS Energy (Dearborn, MI) purchased 50% interest for approx $28 million and formed a joint venture with Pennaco Energy (Denver, CO) in developing 492,000 acres in the Powder River Basin of Wyoming for coal bed methane ... The crude oil pipeline from Baku, Azerbaijan, to Supsa port on the Black Sea, Georgia is expected to be in operation by April 1999 ...
(10/23) ... During a completion operation, a natural gas well blew out and caught fire killing seven (3 from Key Energy Well Service) and injured five, it was owned by Sonat Exploration and located near Bryceland, about 45 miles east of Shreverport, LA ... Palestinian Leader Yasser Arafat and Israeli Prime Minister Benjamin Netanyahu signed a land-for-peace accord ... Last weekend's death toll was 62 from the fire that engulfed two Colombian villages after Marxist rebels blew up the main oil pipeline ... Two Mexican oil ports, Pajaritos and Dos Bocas, 389,000 B/D and 502,000 B/D exporting volumes, were shut down due to bad weather in the Gulf of Mexico since Wednesday ...
(10/22) ... the number of deads caused by oil pipeline sabotage in Nigeria was now upped to 700 ... Hanover Compressor (Houston, TX) acquired all capital sotck of Eureka Energy Systems (Dallas, TX), a firm providing compressor rentals, for approx $16.8 million ... more major oil companies reported low third quarter income as compared to last year's, Arco down 80%, Chevron down 37%, Phillips down 79%, Shell down 59%, and USX Marathon down 58% ... Russia Finance Minister said that his country intends to pay interests on its foreign debt and will not default ...
(10/21) ... AGA reported a build up of 58 BCF in the natural gas storage, representing an increase of 1.9% over last week and 94.4% full ... major oil companies reported third quarter income slashed compared to last year's, Amoco down 49%, Exxon down 23%, Occidental down 75%, and Texaco down 56% ... Schlumberger will pay Smith International $280 million to own 60% in a new drilling fluid joint venture of the two companies which will carry Smith's M-I LLC name ... Future Petroleum (Dallas, TX) acquired interests in a number of properties located in TX, OK, NM, MS for approx $15 million in cash and stocks ... Roanoke Gas Co. (Roanoke, VA) filed for reorganization into a holding company named RCG Resources, Inc. ...
(10/20) ... API reported crude oil stocks down 0.29 MMB, distillates stocks down 2.37 MMB, unleaded gasoline stocks up 0.38 MMB, and refinery capacity down 0.7% at 86.8% versus last week's ... Caltex Petroleum will move headquarter from Dallas to Singapore in early 1999 ... Williams (Tulsa, OK) announced their new well in the Kenwood field, Leon County, TX tested 25.8 MMCF/D from the Cotton Valley reef at 14,500 feet ... Cross Timbers (Fort Worth, TX) agreed to acquire certain interests from an undisclosed entity for approx $33.4 million including 171 wells in northwest Oklahoma and 623 wells in San Juan Basin of New Mexico ... Nabor Industries (Houston, TX) agreed to acquire Bayard Drilling Technologies with stocks and cash valued at $100 million equity and $120 million debt involving 87 drilling rigs and inventories ...
(10/19) ... over the weekend, oil pipeline near Warri in Nigeria was sabotaged killing 500 people as the fire swept through the village, also the largest oil pipeline, Ocensa, in Colombia was sabotaged killing 50 people ... Houston Exploration acquired additional interest in 25 wells located in Vermillion Parish, LA from a private company for approx $20 million ... Mitchell Energy & Dev (The Woodlands, TX) announced their dual well in the Galveston Bay potential at 82 MMCF/D from Frio sands at 10,000 and 11,000 feet ... Kelley Oil & Gas and Williams announced their new well in the Ouiski Bayou field, Terrebonne Parish, LA producing 5.2 MMCF/D from Realty sand at 11,300 feet, also the upper sand in a recent well was unitized and producing 11.1 MMCF/D ... Young Oil (Knob Lick, KY) anounced their third oil field discovery in Overton County, TN tested 10 B/hour from 433 feet ... Samson Resources (Tulsa, OK) agreed to acquire certain gas properties in east Texas from Nuevo Energy (Houston, TX) for approx $191 million ...
(10/16) ... TEPPCO Partners LP (Houston, TX) agreed to acquire Duke Energy Transportation & Trading Co. from Duke Energy ... Esso Exploration Angola announced their fourth oil find on the Angola Block 15 tested 4,400 B/D from 8,900 feet ... Delta Petroleum (Denver, CO) agreed to acquire 2 exploration licenses covering 1.9 million acres in eastern Kazakhstan with its stock purchase of Ambir Properties Inc. ... CMS Energy (Dearborn, MI) completed the acquisition of Continental Natural Gas (Tulsa, OK) with its stocks valued at $63 million and will operate it as CMS Continental Natural Gas ...
(10/15) ... Kerr-McGee and Oryx Energy announced plan to merge in a stock-swap valued at $1.86 billion in which Kerr-McGee will acquire Oryx and assume $1.3 billion debt ... Chevron agreed to pay $540,000 to settle allegations that its refinery in Richmond, CA bypassed a wastewater treatment system from 1991 to 1995 ... Cambridge Energy (Lafayette, LA) acquired Indonesia's Intermega Energy Plc Ltd involving 32 wells producing 1,600 B/D, production facilities, pipelines, and oil barge operations ...
(10/14) ... AGA reported a build up of 41 BCF in the natural gas storage, representing an increase of 1.2% over last week and 92.5% full ... API reported crude oil stocks up 8.22 MMB, distillates stocks down 1.71 MMB, unleaded gasoline stocks down 7.02 MMB, and refinery capacity down 0.5% at 87.5% versus last week's ...Chevron shut down certain offshore Nigeria production due to domestic unrest ... Clayton Williams Energy (Midland, TX) acquired certain gas properties in three east Texas fields from Sonat Exploration for approx $46.5 million ... The Majestic Companies LTD (San Diego, CA) with three wholly owned subsidiaries planned to merge into SkyTex International ... Weatherford International (Houston, TX) amended its Merger Agreement proposal to Christiana Companies ... Maxima Resources (Corpus Christi, TX) and Parallel Petroleum announced their Yegua discovery well in Jackson County, TX tested 250 B/D and 2.6 MMCF/D from 9,300 feet ... Duke Energy and Dynegy mutually agreed to terminate Duke's plan of acquiring Dynegy's oil transportation and marketing businesses ...
(10/13) ... Two affiliates of Questa Corp. (Salt Lake City, UT): Celcius Energy and Universal Resources are to be merged into Questa Exploration & Production Co. ... Tallisman Energy (Calgary) announced their horizontal step-out well in the Central Alberta Foothills area tested 17.4 MMCF/D from the Turner Valley formation, and also the completion of the pipeline between the Lovett River and the Hanlan Robb Gas Plant ... Sharpe Resources (Houston, Texas) announced their Matagorda Gas Project well found 4 commercial sands, 2 of which tested 9.2 MMCF/D from 7,150 feet ... National Energy Group (Dallas, TX) and Pease Oil & Gas (Grand Junction, CO) announced their well in the East Bayou Sorrel field, Iberville Parish, LA tested 3,048 B/D and 2.8 MMCF/D from 12,900 feet ...
(10/12) ... Phillips Petroleum Co. Norway announced a fire in the compressor unit on its Ekofisk II's 2/4 J platform in the North Sea forced the shut down until tomorrow ... Chevron opened office in Tbilisi, Republic of Georgia to introduce its brand of lubricants ... Peoples Energy Ventures (Chicago) acquired a majority interest in oil and gas properties in Texas, Louisiana, and North Dakota from NBB Energy Partners for approx $10 million ...
(10/9) ... Mexico's Energy minister said that oil-producing countries cannot cut production any further because of politics and economics ... Meridian Resources (Houston, TX) announced their third well in the Weeks Island field, tested in 3 zones for a combine volume of 12,876 MCF/D and 1,783 B/D from 6,000 feet and 7,500 feet ...
(10/8) ... Diamond 66 is the new joint venture between Ultramar Diamond Shamrock (55%) and Phillips (45%) to combine their North America refining and marketing businesses with over 12,000 gas stations and convenient stores ... Talisman Energy completed the acquisition of Arakis Energy which included 25% interest in an oil project in Sudan ... Chevron announced their 4th well offshore Angola tested over 10,000 B/D in the Belize field ...
(10/7) ... AGA reported a build up of 41 BCF in the natural gas storage, representing an increase of 1.3% over last week and 91.3% full ... unrest by Nigerian youths caused disruption of one fifth of oil output including 308,000 B/D from Shell and 130,000 B/D from Agip ... Pease Oil & Gas (Grand Junction, CO) reported the second well in the Maurice field, Lafayette Parish, LA producing 9 MMCF and 400 B/D ... Enterprise Development (Calgary) reported their successful recompletion well producing over 3,000 B/D from 8,500 feet in the Las Casas field, central Guatemala in a 300,000-acre concession ...
(10/6) ... API reported crude oil stocks down 3.92 MMB, distillates stocks down 0.15 MMB, unleaded gasoline stocks down 1.82 MMB, and refinery capacity down 7.5% at 88.0% versus last week's ... Enbridge Inc. is the new name for IPL Energy (Calgary) and more than 20 other brands operated under IPL ... Arco Dubai now owned 100% interest in the Margham field after acquiring Gulfstream Resources Canada Ltd's 25% ... GulfWest Oil (Dallas, TX) acquired Southeast Texas Oil & Gas Co. LLC for approx $2 million in stocks ... Kelley Oil & Gas announced their 2 successful Cotton Valley wells in northern Louisiana producing a total of 6.0 MMCF and 57 B/D ...
(10/5) ... Allegheny Energy filed a request for a temporary restraining order and a formal complaint against DQE of not going through with the proposed merger ... Arco Alaska, Exxon, BP Exploration (Alaska) started long-term test production from the Midnight Sun oil field (adjacent to Prudhoe Bay) currently producing 2,000 B/D and 750 MCF/D from the initial discovery well ... Saudi Arabian Texaco and Kuwait Oil Co. announced their well in the Humma prospect located in the neutral zone between the two countries tested 3,400 B/D from 10,000 feet ... Benz Energy (Houston, TX) announced their discovery well in the Baber prospect, Colorado County, Texas tested 135 B/D and 300 MCF/D from the Yegua at 5,700 feet ...
(10/2) ... Ashland agreed to settle allegations of illegal discharges and violations at their refineries in Kentucky, Ohio, and Michigan by spending more than $32 million in cleaning up ... Newstar Resources (Monroe, Michigan) and Omimex Energy (Fort Worth, TX) agreed to acquire from Unocal's Spirit Energy 76 oil and gas properties in Michigan for approx $37 million plus common stocks ...
(10/1) ...
Genesis Energy LP (Houston, TX) completed the acquisition of the 200-mile West Columbia Pipeline system from Equilon Pipeline Co. ...
Westrock Income Fund II (Calgary) announced their well in the Sylvan Lake area, Alberta tested 200 B/D from the Pekisko zone ...
Cross Timber Oil completed the acquisition of Shell's Alaskan Cook Inlet properties with current production of 3,600 B/D from 31 wells ...
Michael Baker Corp. (Pittsburg) acquired GeoResearch, Inc. and then created Baker GeoResearch ...
(9/30) ... AGA reported a build up of 41 BCF in the natural gas storage, representing an increase of 1.3% over last week and 90.0% full ... Petrolex Energy, Texican Oil PLC, and Quadra Resources announced their second well in the Maracas Association Contract in northern Colombia tested 20 MMCF/D ... Eastern Enterprises (Weston, MA) completed the merger with Essex County Gas Co. ... Pemex signed an agreement to supply 65,000 B/D of Maya crude to Exxon's refinery in Baytown, TX ...
(9/29) ... API reported crude oil stocks up 6.27 MMB, distillates stocks up 2.49 MMB, unleaded gasoline stocks down 1.78 MMB, and refinery capacity down 1.4% at 95.5% versus last week's ... Resource America (Philadelphia) completed the acquisition of The Atlas Group (Pittsburg) for approx $63 million including 1,400 wells, 650 miles of pipeline system, and 155,000 acres in Pennsylvania and Ohio ... Petro-Canada (Calgary) acquired 16.6 million (35%) common shares of Search Energy for approx $12 million ... Ranger Oil (Calgary), Premier Pict Petroleum, Candecca Resources, Bow Valley Petroleum, Croft Exploration announced their successful appraisal well in the Kyle field, North Sea tested 9,750 B/D with a productivity index of 20,000 B/D ... Samson Canada acquired properties in the Rainbow area (Alberta) from Union Pacific, Grey Wolf Exploration, and Highland Energy, and in the Ferrybank area (Alberta) from Baytex Energy ... Key Energy Group (East Brunswick, NJ) acquired assets of serveral well service companies (Flint Engineering & Construction, Hellums Services, Superior Completion Services, South Texas Disposal, Elsik, and Iceberg) for approx $65 million ...
(9/28) ... Swift Energy (Houston, TX) acquired from Sonat Exploration working interests in 156 wells and 240,000 acres in the Brookeland field in southeast Texas and the Masters Creek field in west Louisiana for approx $80.5 million ... Tesoro E&P (San Antonio, TX) acquired from Bligh Petroleum the interests in 8 wells and 9,900 acres in the Texas Panhandle ... Unocal signed an agreement to extend its exploration acreage in Vietnam to a total holding of 3.6 million acres after the first well tested 52.9 MMCF/D from two zones ...
(9/25) ... Lasmo PLC (London) sold its interest in the Tempa Rossa field and in two concessions in Italy for $33.6 million to Eni, Enterprise Oil, Fina, and Mobil ...
(9/24) ... Resources Energy (Philadelphia) announced first slim hole short radius horizontal well re-entry in the Appalachian Basin, Chautauqua County, NY tested 250 B/D and 150 MCF/D ... Enron Capital & Trade Resources announced their withdrawal from the bankruptcy proceeding of Cajun Electric Power Coop ... Unocal Thailand announced 2 successful appraisal wells in the Pakarang field with 28 gas zones in one and 18 gas zones in the other, with one zone tested 15.3 MMCF/D and 239 B/D ... Meridian Resources (Houston, TX) announced their well in Weeks Island field with 2 tests totaled 4,477 B/D and 759 MCF/D from 6,000 feet ... Statoil, Saga Petroleum, and Enterprises Oil announced their well offshore west coast Ireland in Block 18/20 tested 63 MMCF/D from 11,000 feet ...
(9/23) ... AGA reported a build up of 52 BCF in the natural gas storage, representing an increase of 1.6% over last week and 88.7% full ... ministrial OPEC meeting in Kuwait announced option for further production cut before the meeting on November 25th ... the Department of Energy announced to allow foreign governments to store their oil in the Strategic Petroleum Reserve at Big Hill site near Port Arthur, TX for up to 78 MMB without any fees ... Weatherford International, Inc. is the new name for EV Weatherford, Inc. ...
(9/22) ... API reported crude oil stocks down 9.09 MMB, distillates stocks down 0.10 MMB, unleaded gasoline stocks up 5.05 MMB, and refinery capacity down 2.3% at 96.9% versus last week's ... Hurricane Georges caused Amerada Hess to shut down its 545,000-B/D refinery in St Croix ... the heads of some 20 biggest oil companies plan to meet in Europe next week ... TransMontaigne (Denver, CO) completed the acquisition of ARCO's 15.38% interest in the West Shore Pipe Line Co. involving a 600-mile pipeline system serving the Chicago area ... Texoil (Houston, TX) entered an agreement with Sonat Exploration to acquire their interest in 10 fields in south Texas and south Louisiana ...
(9/21) ... Hurricane Georges caused Statia Terminals N.V.'s transshipment facility on the Island of St Eustatius, Netherlands Antilles to shut down with unknown damage ... EOTT Energy Partners agreed with Koch Industries to acquire 3,900-mile pipeline system, 150 trucks, and 220,000-B/D purchase contracts in TX, OK, KS, and CA ... Continental Resources and its CEO acquired from Bass Enterprises 292 wells and 70,000 acres in the Worland field, WY ... Pioneer Natural Resources announced its second appraisal well in offshore Republic of South Africa tested 4,500 B/D and 3.1 MMCF/D from 8,500 feet ... Dynamic Oil & Gas, Inc. is the new name for Dynamic Oil Limited (Richmond, BC) and announced 3 successful re-entries in St Albert, Alberta tested a total of over 33 MMCF/D ...
(9/18) ... Mobil's Canadian subsidiary was awarded 6 exploration licenses covering 1 million acres in the Grand Banks, offshore Newfoundland, Canada ... Texaco China and Arco China signed a contract to develop the Qinhuangdao 32-6 field in the Bohai Bay ... Shareholders of Quaker State approved the merger with Pennzoil ... Inland Resources (Denver, CO) completed the acquisition of Pennzoil Products' Roosevelt Refinery ... Saba Petroleum (Santa Maria, CA) terminated the merger talk with Ominex Resources (Fort Worth, TX) ...
(9/17) ... approaching potential tropical depression caused workers on oil rigs in the Gulf of Mexico to be evacuated again ... DukeSolutions, a subsidiary of Duke Energy (Charlotte, NC) acquired Engineering Interface Ltd (Toronto) and its subsidiary Tescor Energy Services ...
(9/16) ... AGA reported a build up of 70 BCF in the natural gas storage, representing an increase of 2.2% over last week or 87.1% full ... API reported crude oil stocks down 4.07 MMB, distillates stocks up 4.09 MMB, unleaded gasoline stocks down 2.45 MMB, and refinery capacity up 0.5% at 99.2% versus last week's ... Valero Energy (San Antonio, TX) became the second largest domestic independent refining company after the acquisition of Mobil's Paulsboro Refining near Greenwich Township, N.J. for approx $228 million ... Pacific Pipeline System LLC is the name of the new joint venture formed by Pacific Pipeline System, Inc. and Arco Pipe Line Co. to transport 235,000 B/D crude from San Joaquin Valley to Los Angeles ...
(9/15) ... Energen Resources (Birmingham, AL) agreed to acquire TOTAL Minatome for approx $132 million ... TXCO (San Antonio, TX) annouced their fourth Glen Rose well in the Maverick Basin of Texas tested an absolute of 78 MMCF/D from 5,100 feet ... Pendaries Petroleum (Toronto) agreed to acquire 45% additional interest in Block 04/36 in the Bohai Bay, China, to increase to 55% holding ... Callon Petroleum (Natchez, MS) announced their well in the Main Pass Block 26 in the Gulf of Mexico tested 7.65 MMCF and 500 B/D from 10,100 feet ... American International Petroleum (New York) agreed to acquire St. Mark Refining with the 20,000 B/D refinery near Tallahassee, FL ...
(9/14) ... TransMontaigne (Denver, CO) agreed to acquire Louis Dreyfus Energy for approx $161 million involving 24 products terminals and storage facilities ... C E Franklin (Calgary) terminated its effort to acquire Kudu Industries ... Oryx and Amerada Hess began production from their Baldpate platform in the Gulf of Mexico ... Tengasco (Knoxville, TN) announced their discovery well in the Swan Creek area of Hancock County, TN producing 220 B/D from the Stones River formation at 3,000 feet ... Anadarko announced their sub salt well in the Eugene Island Block 346 in the Gulf of Mexico tested 21,900 B/D and 29.7 MMCF/D ... Chancellor Group (Las Vegas) signed a Letter Of Intent to acquire Union Pacific Resources' interest in certain oil and gas properties in Panola County, east TX for approx $35 million ...
(9/11) ... U.S. production in August averaged 6.3 MMB/D, lowest since 1954, while imported 9.3 MMB/D ... crude oil stocks is highest since 1993 ... OPEC produced 27.3 MMB/D in August ... Phillips shut down its 210,000 B/D refinery and petrochemical complex in Sweeney, TX for at least 5 days due to tropical storm Frances ... Union Pacific Resources Group agreed to sell its interest in the Matagorda Block 623 to Enron for approx $158 million and the oil & gas assets in south Texas to Collins & Ware for approx $148 million ... Mobil exited the fertilizer business by selling its plant in Pasadena, TX to Agrifos of New York City ...
(9/10) ... the DOE reported crude oil stocks down 8.9 MMB, distillates stocks up 1.1 MMB, unleaded gasoline stocks down 2.2 MMB, and refinery capacity down 2.2% at 99.2% versus last week's ... tropical storm Frances caused shutting down of oil and gas production in the Gulf of Mexico as well as traffic to the Houston Ship Channel ... Getty Realty (Jericho, NY) agreed to acquire 27 service stations and convenient stores in New York City from RAD Energy for approx $9 million ....
(9/9) ... AGA reported a build up of 35 BCF in the natural gas storage, representing an increase of 1.1% over last week or 84.9% full ... API reported crude oil stocks down 6.68 MMB, distillates stocks up 0.84 MMB, unleaded gasoline stocks down 1.62 MMB, and refinery capacity down 2.0% at 98.7% versus last week's ... KN Energy (Lakewood, CO) and Devon Energy (Oklahoma City, OK) signed a Letter Of Intent to form Thunder Creek Gas Services LLC to service the Wyoming's Powder River Basin with 126-mile 450-MMCF/D capacity gas gathering system and related facilities ... Navajo Refining purchased from Fina Pipe Line the crude oil gathering system in West Texas involving 500-mile of pipeline currently serving 27,000 B/D ... 3DX Technologies (Houston, TX) announced their 2 new wells, one in Lavaca County, TX tested 13.6 MMCF/D from 14,000 feet and one in Karnes County, TX tested 3.1 MMCF/D from 11,000 feet ...
(9/8) ... Dow Jones Industrial Average posted record gain of 380.53 points or 4.98% (was 337.17 or 4.71% on 10/28/98) ... Costilla Energy (Midland, TX) agreed to acquired oil and gas properties in Texas Gulf Coast region from Pioneer Natural Resources for approx $410 million ... Shell Europe Oil Products agreed to swap certain service stations in Norway for PetroFina's stations in the Netherlands ... Petroplus UK Holdings Ltd completed the acquisition of Gulf Oil Refining Ltd from Chevron ...
(9/4) ... Core Lab completed the acquisition of the remaining 49.9% interest in Mexico's Jaex S. A. de C. V. ... Mobil will pay one million dollars Orange County, CA to settle the charge that it did not maintenance the system to monitoring leaks in underground gasoline tanks ...
(9/3) ... Arco-Mozambique, Sasol Petroleum Termane Ltd - South African, Leopardus Resources, and Zarara Petroleum announced their natural gas discovery well in Mozambique testing 25 MMCF/D ... Petrozuata, a joint venture between Conoco and Petrolero de Venezuela began producing from the Orinoco Belt in eastern Venezuela with 31 horizontal wells ... Shell Europe Oil Products and Texaco signed a non-binding Memorandum of Understanding to create an alliance in marketing and manufacturing in Europe ...
(9/2) ... AGA reported a build up of 57 BCF in the natural gas storage, representing an increase of 1.8% over last week or 83.8% full versus 69.6% same time last year ... Optima Petroleum (Lafayette,LA) changed name to Petro Quest after merging with American Explorer LLC ... Barrington Resources (Calgary) announced their well in the Swan Hills reef play in Sakwatamau, Alberta tested 1,100 B/D ... Imperial Petroleum (Evansville, IN) signed a Letter Of Intent to acquire 90% of Oil City Petroleum (Tulsa, OK) ...
(9/1) ... API reported crude oil stocks down 2.95 MMB, distillates stocks down 0.24 MMB, unleaded gasoline stocks up 0.98 MMB, and refinery capacity up 0.6% at 100.7% versus last week's ... tropical storm Earl in the Gulf of Mexico forces the evacuation of offshore platforms affecting 600 MMCF/D and 36,000 B/D ... Holly Corp. (Dallas, TX) and Giant Industries (Scottsdale, AZ) called off the merger of the refining business ... Questa (Salt Lake City, UT) completed the acquisition of HSRTW from HS Resources including oil & gas properties in Texas, Oklahoma, Arkansas, and Louisiana for approx $155 million ... EEX (60%) and Petrobas (40%) announced their well in West Cameron Block 204 in the Gulf of Mexico production tested 30 MMCF/D and 86 B/D from 10,000 feet ... Magnum Hunter (Irving, TX) announced their well in Walker County, TX tested 9 MMCF/D and 95 B/D from the Glen Rose at 12,000 feet ...
(8/31) ... Dow Jones Industrial Average dropped 512.61 points or 6.37%, second largest drop (October 27, 1997 dropped 554 points), and 19.3% since the peak on July 17, 1998 ... Royal Dutch/Shell Group denied rumor that they planned to merge with Texaco ... AT Gas Gathering (Oklahoma City, OK) agreed to sell its 20% interest in the Roye Natural Gas properties to Wellington Energy (Vancouver) for approx. $3.6 million ... Schlumberger completed the merger with Camco International ...
(8/28) ... Mobil settled with $45 million to federal and Indian royalty in California, Rocky Mountains, and the Gulf of Mexico plus $11 million to Texas' state land royalty ... Genesis signed a letter of intent to acquire the West Columbia Pipeline system from Equilon Pipeline Co. LLC ... the DOE agreed to exchange 11 million barrels of heavy Maya crude (purchased from Mexico in the 1980's) currently stored in the Strategic Petroleum Reserve for 8.5 million barrels of light crude from Mexico's Pemex ...
(8/27) ... Dow Jones Industrial Average dropped 357.36 points, the loss is third largest and 12.55% since all-time high on July 17 or 42 days ago ... Sempra Energy International (San Diego, CA) was awarded an agreement to supply natural gas to Mexico's Presidente Juarez power plant in Rosarito, Baja California over a 10-year period at up to 300 MMCF/D ... Enterprise Oil (London) announced their well in southern Italy in the extension of the Monte Alpi field tested 7,717 B/D from the horizontal leg ... Arco, BP Exploration, Unocal, Chevron USA, and Mobil applied for Alaska state permission to produce from the Tabasco formation as one lone well has been producing 2,500 B/D of 16.5 degree API crude since May ...
(8/26) ... AGA reported a build up of 71 BCF in the natural gas storage, representing a 2.3% increase over last week or 82.0% full ... the DOE reported crude oil stocks down 6.8 MMB, distillates stocks up 0.1 MMB, unleaded gasoline stocks down 1.3 MMB, and refinery capacity at 100.8% ... R&R Resources (Austin, TX) agreed to acquire Subsurface Energy for approx $54 million in stocks ... Burlington Resources announced their well in central North Sea tested 8,200 B/D from 9,600 feet ... Key Energy (East Brunswick, NJ) completed the acquisition of Colorado Well Service (Rangely, CO) and Transportes Dimopulos SRL (Argentina) as well as the oilfield service assets of TransTexas Gas (Laredo, TX) ...
(8/25) ... API reported crude oil stocks down 5.57 MMB, distillates stocks down 1.47 MMB, unleaded gasoline stocks up 1.26 MMB, and refinery capacity up 1.6% at 100.1% versus last week's ... France's Elf Aquitaine announced the termination of alliance proposal with Russia's Sibneft in which Elf was to invest more than $500 million ... Range Resouces Corp. is the new company as the merger result of Lomak Petroleum and Domain Energy ... Southern Minerals (Houston, TX) announced their 3rd and 4th successful wells in the Matthews projects, Lavaca and Dewitt Counties, TX, tested 13.6 MMCF/D and 5.9 MMCF/D plus 78 B/D, respectively, from the Wilcox at 11,200 to 13,800 feet ...
(8/24) ... Enron Oil & Gas agrees to acquire Union Pacific Resources Group's 19% interest in the Matagorda 623 field in the Gulf of Mexico for approx $158 million ... Newpark Resources (Metairie, LA) acquired Shamrock Drilling Fluids for approx $4.7 million plus stocks ... Mobil and Unocal announced their well in 2,800 feet of water offshore East Kalimantan, Indonesia tested 10,069 B/D and 9.5 MMCF/D in the second test ... Texaco and BG plc announced their well offshore southeast Trinidad tested 36 MMCF/D and 430 B/D ...
(8/21) ... Dynegy Canada completed the acquisition of Compton Petroleum's gas processing plants at Mazeppa and at Gladys in Alberta ... Smith International agreed to purchase Halliburton's 36% ownership in M-I LLC for approx $265 million, which should give Smith International 100% ownership ...
(8/20) ... President Clinton ordered cruise missle attacks on terrorist-related facilities in the Zhawar Kili al-Badr base camp in Afghanistan and the Shifa pharmaceutical plant in Khartoum, Sudan in retaliation for the bombings of American embassies in East Africa ... but apparently Osama bin Laden, a Saudi millionaire and the terrorist sponsor, is safe ... Kuwait announced consideration to cut 80,000 B/D production in addition to the promised 60,000 B/D ... Shell has to declare "force majeure" for a "few days" in Nigeria affecting 260,000 B/D ... Tosco plans to shut the crude processing unit at its Bayway, NJ refinery for 4 to 5 weeks beginning next month ... Mobil announced start of production from the OSO NGL project in Nigeria with a current rate of 30,000 B/D ... XCL-Cathay, a wholly owned subsidiary of XCL of Lafayette, LA signed a Production Sharing Contract to develop the Zhang Dong block in the shallow water of Bohai Bay, China ...
(8/19) ... AGA reported a build up of 76 BCF in the natural gas storage, representing a 2.3% increase over last week or 79.7% full ... El Paso Energy completed the acquisition of Deep Tech International and its interest in Leviathan Gas Pipeline for approx $450 million ...
(8/18) ... API reported crude oil stocks down 1.07 MMB, distillates stocks up 2.86 MMB, unleaded gasoline stocks down 5.57 MMB, and refinery capacity up 0.7% at 98.5% versus last week's ... Chevron announce to sell its wholly owned subsidiary of The Pittsburg & Midway Coal Mining Co., which Chevron acquired from Gulf in 1984 ... 100 tons of crude spilled into the Havana Bay from the Nico Lopez refinery at the end of July and would take "months" to clean up ... due to flood, China has to shut down over 1,800 oil wells in the Daquing field with field total average 28,000 B/D, the field produced over one third of China crude production in 1997 ... Barretts Resources has ingnited the gas blowing out of their Cave Gulch 1-29 LAC and planned to side kick the on-drilling 4-19LAK well as a relief well located 3,800 feet away ...
(8/17) ... Pogo Producing (Houston, TX) and Arch Petroleum (Fort Worth, TX) completed the merger ... Tejas Natural Gas Liquids LLC (66%) and Marathon (34%) planned to construct a cryogenic natural gas processing plant near Centerville, LA, in mid-1999 at a cost of $30 million ... stockholders of EVI Weatherford (Houston, TX) and Christiana (Milwaulkee, WI) approved the merger ... Talisman Energy (Calgary) agreed to acquire all outstanding shares of Arakis Energy and its wholly owned subsidiary State Petroleum ... Unocal and Mobil announced the discovery of a new oil field offshore Kalimantan, Indonesia with their discovery well tested 2,900 B/D and 3.1 MMCF/D from 8,300 feet from 2 zones with one more test planned ...
(8/14) ... Main Street AC, Inc. (San Jose, CA) acquired 100% interest in the Golden West Unit Investment Fund with 2 recently completed oil wells ... Barrett Resources announced that failure of the downhole casing was the cause of the blow out of their Cave Gulch 1-29LAK gas well, 45 miles northwest of Casper, WY, in Natrona County, in a sparsely populated area ...
(8/13) ... Saudi Aramco informed a reduction of approx 18 percent for September crude export, that would be about 1.1 million barrels ... more than the 725,000 BBLS they promised to cut earlier ... Barrett Resources (Denver, CO), 70% ownership and operator, announced their Cave Gulch 1-29LAK gas well blew out this morning into the atmosphere and would be a total loss ... this well was put on line 2/20/98 and has produced 7 BCF of gas at 45 MMCF/D ... Anadarko signed an agreement with Alaska's Arctic Slope Regional Corp. for exclusive access to more than 3.3 million acres for exploration ... Cross Timbers (Fort Worth, TX) signed a definitive agreement to acquire Shell Oil's interest in the Middle Ground Shoal field in Alaska's Cook Inlet including 2 platforms and 31 wells producing 3,600 B/D ... Noble Affiliates (Ardmore, OK) announced their 2 wells in the Bo Hai Bay, China, tested 1,500 B/D from 5 zones and 120 B/D from 2 zones at 5,500 feet ...
(8/12) ... AGA reported a build up of 75 BCF in the natural gas storage, representing a 2.4% increase over last week or 77.4% full ... CalEnergy (Omaha, NE) planned to acquire MidAmerican Holdings Group (Des Moines, IO) for approx $2.6 billion and to retain the MidAmerican name ... Callon Petroleum (50%) and Devon Energy (50% & operator) announced their well in the Main Pass Block 36 tested for 14 MMCF/D and 900 B/D from 16,500 feet ... Arco is pulling out of Myanmar after spending $50 million in the last 2 years ... Unocal is the only U.S. company there despite the U.S. ban of new investment in Myanmar citing human rights abuses by the military government ...
(8/11) ... API reported crude oil stocks up 1.21 MMB, distillates stocks down 0.67 MMB, unleaded gasoline stocks down 4.12 MMB, and refinery capacity down 1.2% to 97.8% versus last week's ... British Petroleum (world's 3rd largest) plans to acquire Amoco (U.S. 5th largest) for approx $49 billion and operates as BP Amoco but with future cut of 6,000 jobs ... Key Energy (East Brunswick, NJ) signed a definitive agreement to acquire Dawson Production Services for approx $202 million plus $150 million debt ... Pan Western Energy (Tulsa, OK) acquired gas properties and approx 7,000 acres in Sherman County, TX from Exxon ... Canadian 88 Energy (Calgary) announced their well in the Waterton area of the foothills in southwest Alberta tested with a AOF of 64.5 MMCF/D from 14,200 feet ...
(8/10) ... Cliffs Drilling and R&B Falcon (Houston, TX) signed the Leter of Intent to merge ... Baker Hughes and Western Atlas completed their merger ... Panaco (Kansas City, MO) signed a Leter of Intent ot acquire all U.S. assets for Windsor Energy (Alberta) ... Tesoro (San Antonio, TX) completed the purchase of Shell Anacortes Refining Co. and will operate as Tesoro Northwest Co., also Tesoro E&P purchased 50% working interest owned by Sheridan Energy (Houston, TX) in the Stiles Ranch field in the Texas Panhandle ... El Paso Natural Gas Co. changed name to El Paso Energy Corp. ...
(8/7) ... Infinity, Inc. (Chanute, KS) and Evergreen Resources (Denver, CO) signed their second joint business venture in developing the 24,000-acre Long Canyon project in the Raton Basin ... the first one is in 17,000-acre Lorencito project in the same basin ...
(8/6) ... Ultra Petroleum (Vancouver) reported their well in Wyoming's Green River Basin produced 16 MMCF and 200 B/D from commingled 8,500 to 12,800 feet ... Turboscope (Houston, TX) acquired MSD (Evangeline, LA), an international company specializing in disposing wastes from drilling operations ... the U.S. Interior Dept. announced to open up to 4 million acres in the northeastern quadrant of the National Petroleum Reserve in Alaska for oil leasing ...
(8/5) ... AGA reported a build up of 70 BCF in the natural gas storage, representing a 2.2% increase over last week or 75.0% full ... the Iraqi Parliament voted to recommend stop cooperation with the U.N. weapons inspections ... Talisman Energy (Calgary) announced their two wells in the Central Foothills of Calgary tested 18.5 MMCF/D and 21.0 MMCF/D from 14,800 feet ... Chevron and Arco Alaska signed two agreements to form equal partnership joint exploration of more than 2.8 million acres in Alaska's North Slope ... EEX agreed to trade its oil and gas properties in West Texas and Eastern New Mexico for Energen Resources' properties in the coast of Texas and Louisiana ... Trans Texas Gas (Houston, TX) commenced production from the Eagle Bay gas field offshore Galveston at 51.9 MMCF/D and 8,180 B/D from just 2 wells ...
(8/4) ... Dow Jones Industrial Average lost 299.43 points, third biggest lost (554.26 on 10/27/97 and 508.00 on 10/19/87) ... API reported crude oil stocks up 1.88 MMB, distillates stocks up 2.06 MMB, unleaded gasoline stocks down 0.15 MMB, and refinery capacity down 0.7% to 99.0% versus last week's ... Western Midway, a wholly subsidiary of Arco, agreed to exchange their interest in the San Joaquin Valley, CA for Mobil's interest in 23 producing fields in the Gulf of Mexico, after the completion, Vastar agreed to acquire Western Midway for approx $470 million ... (Arco owns 82.2% interest in Vastar) ... Enogex, a subsidiary of OGE Energy (Oklahoma City, OK) completed the acquisition of Ozark Gas Transmission System from a subsidiary of Dynegy ... CMS Energy (Dearborn, MI) agreed to acquire all common stocks and debt of Continental Gas (Tulsa, OK) for approx $155 million ...
(8/3) ... Arco completed the acquisition of half of Triton Energy Ltd.'s 50% interest in the Malaysia-Thailand Joint Development project in the Gulf of Thailand ... Lyondell Petrochemical Co. changed name to Lyondell Chemical Co. ... Apache announced their well in offshore western Australia tested a total of 89 MMCF/D and 3,100 B/D from 3 zones at 7,700 to 8,400 feet ... Berry Petroleum acquired oil properties in the Midway-Sunset field, Kern County, CA from OXY USA for approx $3.1 million ...
(7/31) ... Sempra Energy Trading, a subsidiary of Sempra Energy (San Diego, CA) completed the acquisition of CNG Energy Services for approx. $48 million ... Panaco (Kansas City, MO) announced 2 successful gas well recompletions, one in Plaquemines Parish, LA flowing 3 MMCF/D and one in the High Island Block flowing 5.5 MMCF/D ... the U.S. Senate voted to buy $420 million worth of crude oil (approx 28 MMB at $15/BBL) to replenish the Strategic Petroleum Reserves ... the selling off in recent years costed the government approximately $500 million since the crude was bought at $33/BBL and sold for much less ...
(7/30) ... Plains All American, a subsidiary of Plains Resources (Houston, TX) completed the acquisition of all outstanding stock of All American Pipeline, Celeron Gathering, and Celeron Trading & Transportation from the Goodyear Tire & Rubber ... 3DX Technologies and Burlington announced their two wells in the Four Isle Dome field, Terrebonne Parish, LA, producing 18 MMCF/D & 390 B/D and 15.3 MMCF/D & 360 B/D ... Lyondell Petrochemical completed the acquisition of Arco Chemical ... Callon Petroleum (Natchez, MS) acquired Conoco's 50% interest in the Garfield project (Louisiana's Main Pass Block 36 and 49 plus a natural gas well) for approx $7.25 million ... Mid Coast Energy Resources (Houston, TX) agreed to purchase the 700-mile "Anadarko" pipeline system in west Texas from El Paso Field Service for approx $35 million ...
(7/29) ... AGA reported a build up of 66 BCF in the natural gas storage, representing a 2.0% increase over last week or 72.8% full ... Panaco (Kansas City) and Seneca Resources (operator) announced their well in Monroe County, AL tested 601 B/D and 338 MCF/D ... Panaco and IP Petroleum (operator) announced their well in the West Cameron Block 172 in the Gulf of Mexico tested 10.2 MMCF/D and 90 B/D ... American Resources (Versailles, KY) announced their well in the Galveston Block 213 producing 13 MMCF/D and 230 B/D ... Edge Petroleum and Texaco are to jointly develop the O'Connor Heirs Ranch project covering 42,200 acres in Goliad County, TX ... Continental Energy (Vancouver) acquired Apex (Bengara-II) and Apex (Yapen) for the Production Sharing Contract with Indonesia's Pertamina in the 1.2 million-acre Bengara concession and 2.5 million-acre Yapen concession ...
(7/28) ... API reported crude oil stocks down 0.83 MMB, distillates stocks up 2.31 MMB, unleaded gasoline stocks down 0.54 MMB, and refinery capacity down 0.6% to 99.7% versus last week's ... Universal Resources, a subsidiary of Questa (Salt Lake City, UT), agreed to acquire HSRTW, the oil and gas subsidiary of HS Resources (San Francisco, CA) for approx $158 million covering over 1,000 wells in Oklahoma and Texas ... Conoco International Petroleum Co. purchased a 15.7% interest in OAO Arkhangelskgeoldobycha, a Russian oil company operating in northwestern Russia with OAO Lukoil, Russia's largest oil company holds a controlling interest ... Southern Mineral and Union Gas Operating (Houston, TX) announced 2 wells in their 6,600-acre project in Dewitt and Lavaca Counties, Texas, producing 5.2 MMCF/D and 6.1 MMCF/D from 11,000 feet ... Koch agreed to swap its gathering and processing systems in south Texas and Oklahoma for Duke Energy's systems in Alabama, Mississippi, New Mexico, and west Texas ...
(7/27) ... Duke Energy Field Services signed a letter of intent to acquire Dynegy's 56% interest in the Roberts Ranch natural gas processing plant in Midland plus a low pressure gathering pipeline system ... Duke also intents to acquire Dynegy's crude oil transportation and marketing ... Anadarko announced a new well from their East Cameron 157 platform offshore Louisiana producing 40 MMCF/D and 1,129 B/D ... Cambridge Energy (Lafayette, LA) acquired the Southeast Crescent field located in Iberville Parish, LA ... Titan Energy Corp. (Fort Worth, TX) changed name to Power Exploration, Inc. ...
(7/24) ... Enron is forming a subsidiary to acquire Wessex Water Plc, a water supplier in southwest England ... the Department of Energy offers free storage in the Strategic Petroleum Reserve for an exchange of a portion in case of emergency, currently there are 117 MMB unused space at the Lake Charles, LA storage cavern ...
(7/23) ... Kennecott Energy & Coal completed the purchase of the Jacobs Ranch coal mine in the Wyoming Powder River Basin from Kerr McGee for approx $400 million ... Western Production (Rapid City, SD), a subsidiary of Black Hills, completed the acquisition of the interest of Jim's Water Services in the Finn Shurley field northeastern Wyoming, bringing their ownership to nearly 90% ... C E Franklin (Calgary) signed a letter of intent to acquire all outstanding shares of Kudu Industries, an oilfield pump manufacturer ... Aldrico and Trident Drilling, two Calgary drilling contractors announced to combine business operations for a total of 8 drilling rigs ... Amoco Canada, Husky Oil, and Anderson Exploration announced their second biggest gas well in the Balckstone Swan Hills gas pool, northwest of Calgary, producing over 70 MMCF/D from 15,800 feet, their best well produces 80 MMCF/D ... Occidental swaps its oil and gas interest in the Phillipines and Malaysia for Shell's interest in Yemen and Colombia ...
(7/22) ... AGA reported a build up of 79 BCF in the natural gas storage representing an increase of 2.5% to 70.8% full ... Taurus Exploration Inc. (Birmingham, AL), a subsidiary of Energen Corp., changed name to Energen Resources Corp. ... Exploration Co. (San Antonio, TX) announced their well in the 50,000-acre Maverick Basin in southwest Texas tested with an absolute open flow of 49 MMCF/D from the Glen Rose at 5,200 feet ... Unocal settled with $43.8 million for environmental damages from the Guadalupe oil field in San Luis Obispo and Santa Barbara Counties, CA ... National-Oilwell completed the acquisition of Roberds-Johnson Industries which specializes in equipment for deep water rigs ... Midas Resources (Calgary, Alberta) purchased all shares of Scorpion Energy but operates as Scorpion ...
(7/21) ... API reported crude oil stocks up 6.86 MMB, distillates stocks up 4.43 MMB, unleaded gasoline stocks down 1.29 MMB, and refinery capacity up 0.1% at 100.3% versus last week's ... Petroleum Geo-Services ASA (Houston, TX and Oslo, Norway) completed the acquisition of Acadian Geophysical Services (St Martinville, LA) ... Pan Energy Exploration & Production (Peru), an affiliate of Duke Energy (Houston, TX) signed a license agreement with Perupetro for the rights to explore in two onshore blocks totaling 2 million acres ... Sempra Energy Trading (San Diego, CA) agreed to acquire CNG Energy Services (Pittsburg, PA) as CNG planned to exit the wholesale energy marketing business ... Parallel Petroleum (Midland, TX) and Maxima Resources (Corpus Christi, TX) announced their well in Jackson County, Texas tested 1.5 MMCF/d and 308 B/D from the Yegua at 10,400 feet ...
(7/20) ... Ashland announced moving its headquarter from Ashland, KY to Covington, KY ... MCNIC Oil & Gas (Detroit, MI), CV Reef and MSH Resources announced their Cotton Valley Reef well in Robertson County, TX tested for 7.9 MMCF/D from 13,650 feet in a 270,000-acre project ... Duke Energy Transport & Trading (Houston, TX) signed a letter of intent to acquire the crude oil pipeline, gathering, and marketing business in OK, TX, and LA from Dynergy ... Equatorial Energy (Calgary) acquired interest in Indonesia's Sembakung from First Dynasty Mines Ltd (Singapore) ... Esso Exploration & Production Congo acquired an interest in 2 Congo offshore blocks totaling 2.5 million acres ... Kelley Oil & Gas (Houston, TX) and Williams Companies (Tulsa, OK) announced their well in Terrebonne Parish, LA producing from a dual completion a total of 20.8 MMCF/D ...
(7/17) ... Nabors Offshore Drilling announced an accident while installing platform drilling rig #269, a portion of the rig collapsed with several sections falling overboard into the water on a platform owned by Ocean Energy located 23 miles southeast of Venice, Louisiana in the Gulf of Mexico ... Benz Energy (Houston, TX) entered an agreement to acquire oil and gas properties located in Texas, Lousiana, and Mississippi for approx $2.3 million plus commond stock ... Arco acquire half of Triton Energy's working interest or 25% working interest in the Malaysia/Thailand Joint Development Area in the Gulf of Thailand ... Petronas holds the other 50% interest ... IPC Malaysia, a wholly owned subsidiary of Lundin Oil AB (Vancouver, BC) (41.44% and operations), Petrosas Carigali (46.06%), and PetroVietnam (12.5%), announced a well in the North Bunga Pakma field in the Malaysia/Vietnam Commercial Agreement Area tested a 4-zone total of 111 MMCF/D and 2,036 B/D ...
(7/16) ... Petro Source (Houston, TX) sold non-core assets such as 2 refineries and trucking operations to Foreland, propane marketing business to Texon L. P., and asphalt marketing business to Crown Asphalt Ditribution ... Equilon Enterprises LLC, a joint veture between Shell and Texaco, plans to expand a pipeline system which is bringing refined products from Gulf Coast to west Texas ... Equilon announced the termination of the refining in their Odessa, TX refinery ... Fountain Oil (Houston, TX and Oslo, Norway) changed name to CanArgo Energy ...
(7/15) ... AGA reported a build up of 93 BCF in the natural gas storage, representing 68.3% full and a gain of 2.9% over last week's ... Core Laboratories (Houston, Texas), after owning a little more than 50% of Jaex S.A. de C. V. of Mexico, via the recent acquisition of Owen Oil Tools, plans to acquire all of the remaining interest by stocks ... ARXA International Energy (Houston, TX) acquired 100% working interests of two fields in the Matagorda and Nueces Counties of Texas from Cohiba Natural Gas ... Shell Prospecting & Development Peru (57.5%) and Mobil Exploration & Production Peru (42.5%) announced the stop of the second phase of the Camisea Project which they had spent over $250 million since signing up in May 1996 ... a subsidiary of Arco, Sasol Petroleum of South Africa, and Zarara Petroleum signed two production sharing agreements with the government of Mozambique in the offshore blocks of Sofala and M-10 ...
(7/14) ... API reported crude oil stocks down 6.29 MMB, distillates stocks up 1.38 MMB, unleaded gasoline stocks up 2.76 MMB, refinery capacity up 2.1% at 100.2% versus last week's ... Devon Energy (Oklahoma City, OK) acquired coal seam gas properties in the Powder River Basin of Wyoming for approx $15.4 million ... also announced a new well in the Texas Panhandle tested 5.4 MMCF/D ... Cotton Valley Resources (Dallas, TX) agreed to acquire a company with majority in West Texas, mostly San Andres wells, for approx $7 million ... Union Pacific Resources Group (Fort Worth, TX) announced their fifth successful well in the Oritupano-Leona concession in eastern Venezuela producing 2,200 B/D ... Young Oil (Knob Lick, KY) announced their well in Overton County, KY, flowing 192 B/D initially from Fort Payne formation at 500 feet ... Esso Exploration Angola announced their third discovery in Block 15 with a 3-zone combined test of 15,900 B/D ...
(7/13) ... Swift Energy (Houston, TX) agreed to acquire oil and gas properties in the Austin Chalk region from Sonat for approx $88 million including 200,000 acre lease ... ONIX Systems (Kingwood, TX) acquired all stock of Mid-South Control & Services and Mid-South Power Systems est'd at $12.5 million ... Uniglobe Ventures (Calgary) entered an agreement with partners to acquire Sable Energy (Houston, TX) with stock ... Amoco announced a Cotton Valley Reef discovery in Leon County testing 29.3 MMCF/D ...
(7/10) ... Santa Fe International announced a drilling rig owned by one of its wholly owned subsidiary was damaged during a blowout while drilling in the Saudi Arabian desert ... the rig was operated by the joint venture partner Saudi Dirlling Corp. ... no injury was reported ... Mobil (52.4%), Monument Oil (27.6%), and Turkmenneft (20%) signed a Production Sharing Agreement with the government of Turkmenistan for the Garashsyzlyk Concession covering 1,800 acres onshore western Turkmenistan ... Esso Production Malaysia began production from the Raya A platform, offshore Malaysia, with 7 more dual wells planned and a peak production of 24,000 B/D by 1999 ...
(7/9) ... Venezuelan oil union workers announced the delay of their 12-hour strike planned for tomorrow ... Dynegy (63%) and Texaco (37%) formed Versado Gas Processors LLC, a joint venture including processing facilities in southeast New Mexico and gathering facilities in New Mexico and west Texas ... New Horizon Group (Vienna, VA) and S. W. Jack Drilling (Indiana, PA) formed a joint venture horizontal drilling and exploration for coal bed methane gas ...
(7/8) ... AGA reported a build up of 74 BCF of the natural gas storage, representing 65.4% full, a gain of 2.4% over last week ... the U. N. reported Iraq has been exporting an average of 2.4 MMB/D over the recent weeks ... PetroCorp (Houston, TX) acquired interest from Quisto Ventures LC in the Duval & Webb Counties, TX project with Mobil and J. M. Huber ... Mustang Fuel, Parallel Petroleum, and Carrizo announced their Dewitt County, Texas well tested 8.2 MMCF/D from 14,200' Wilcox ... BOC Gases (Murray Hill, NJ) acquired Airgas Ontario for approx $10.7 million including 15 stores in Ontario and Quebec ... NYMEX crude jumped over $.50/BBL at midday on the news that Nigeria's military ruler dissolved his cabinet while riots erupted after the death of political prisoner Abiola ...
(7/7) ... API reported crude oil stocks up 0.66 MMB, distillates stocks up 1.22 MMB, unleaded gasoline stocks down 1.42 MMB, and refinery capacity remains the same at 98.1% versus last week's ... Dynegy Canada agreed to acquire from Compton Petroleum the 82-MMCF/D sour gas plant at Mazeppa and a smaller plant at Gladys plus 80-mile gathering pipeline system south of Calgary for approx C$60 (US$ 40.8) million plus between C$12.5 (US$ 8.5) to C$25 (US$ 17.0) million in future wells drilled in the area ... Gruy Petroleum Management announced the completion of a horizontal Austin Chalk well with 6,100 feet lateral in Gonzales County, TX flowing 322 B/D ... Seitel, Total Minatome, Cabot, Cheyene, and North American Reserve announced the tests of their well in Acadia Parish, LA which expected to produce from 2 to 8 MMCF/D ...
(7/6) ... Iraq accused the U. S. government of blocking the approval of some 40 contracts between Iraq and other countries to supply replacement parts for its oil industry ... last week, the U. N. Security Council agreed for Iraq to purchase up to $300 million worth of equipment ... Renaissance Energy Ltd (Calgary, Alberta) completed the acquistion of Pinnacle Resources Ltd after purchased of all shares ... Dynegy, Inc. (Houston, TX) is the official name changed from Natural Gas Clearinghouse (NGC) Corp., also affected are the subsidiaries, Warren Petroleum becomes Dynegy Midstream Services, Destec becomes Dynegy Power, and others with NGC names ...
(7/4) ... U.S. Crude, Ltd. announced that it has signed a definitive agreement to merge with U.S. Thermo-Tech, Inc., the merged entity remained U.S. Crude, Ltd. with headquarter in Colton, CA ...
(7/2) ... Amoco Kazakhstan (Central Territory) B.V. and Turkish Petroleum Overseas Co. formed TEPCO, LLC., a 50/50 joint venture to explore and develop oil and gas onshore western Kazakhstan ... Shell Offshore, Amerada Hess, and Pennzoil annouced the production from the first sub-salt well "Chimichanga" which was tested for 20 MMCF/D and 2,100 B/D ... Mid Louisiana Gas Transmission (Houston, TX) purchased all stocks of Creole Gas Pipeline Corp. from El Paso Energy Corp. including the 44-mile pipeline system near New Orleans, LA ... Evergreen Resources (Denver, CO) acquired Amoco's interest in the Cottontail Pass Federal Unit in the Raton Basin of Colorado covering 27,600 acres to resolve the current litigation ...
(7/1) ... AGA reported a buildup of 72 BCF into the natural gas storage representing 63.0% full versus last week's 60.8% ... Pennaco Energy (Denver, CO) acquired 485,000 acres in the northeast Powder River Basin of Wyoming for coal bed methane potential, the area has more than 600 wells producing from 700 feet ... Trans Energy (St Marys, WV) completed the acquisition of the interest of Gulf Canada Resources in Wyoming's Powder River Basin in an area of approx 31,000 acres covering the Sandbar, Pinon, and Sagebrush fields ... Yuma Expl & Prod, United Oil & Minerals, Louis Dryfus Natural Gas, and Diamond Partners 1 announced their Migl-Quinn #1 well in the Southwest Speaks field, Lavaca County, Texas tested 13 MMCF/D from 14,600 feet ... Clark USA agreed to purchase the Lima, Ohio refinery from BP for approx $215 million, the 170,000 B/D capacity refinery was scheduled to close at the end of the year by BP ... Core Laboratories (Houston, TX) completed the merger with Owen Oil Tools (Fort Worth, TX), the deal is worth approx $47 million ...
(6/30) ... API reported crude oil stocks up 1.8 MMB, distillates stocks up 0.4 MMB, unleaded gasoline stocks down 1.4 MMB, refinery capacity down 0.7% at 98.1% versus last week's ... A U.S. F-16 fired a missile at a Iraqi radar site after a British Tornado jet being locked on while the allied planes were patrolling the southern no-fly zone ... Brabant Petroleum Ltd changed name to EDC (Europe) Ltd, a wholly subsidiary of Samedan Oil, which in turn is a wholly owned subsidiary of Noble Affiliates (Ardmore, OK) ... Energy Drilling Industries (Kemah, TX) changed name to American International Industries ... Turboscope (Houston, TX) completed the acquisition of Eastern Oil Tools Pte, Ltd of Singapore ... Bayard Drilling Technologies (Oklahoma City, OK) completed the acquisition of contract drilling assets of TransTexas Gas for approx $75 million ...
(6/29) ... Union Texas is now a wholly owned subsidiary of ARCO after the completion of the merger ... Husky Oil (Calgary) agreed to acquired interests of Talisman Energy and Gulf Canada Resources offshore Canadian East Coast for approx $70 million ... Devon Energy (Oklahoma City, OK) and North Star Energy (Toronto) plan to merge creating a $2 billion company with 1.2 trillion CF and 117 MMB reserves ... Ohio Kentucky Oil (Lexington, KY) announced their Wayne Brown #10 well (Overton County, KY) flowing 300 B/D from 1,500 feet while the #3 well has cumulated over 190,000 barrels, most in Kentucky ... Mobil, J. M. Huber, and Quisto Venture announced their Ponciano Ruiz #1 well (Duval County, south TX) testing 17 MMCF/D from 12,000' Wilcox ... a subsidary of TransCanada Pipelines agrees to acquire Occidental Netherlands for approx $275 million ... Precision Drilling (Calgary) and its wholly owned subsidiary Drive Well Servicing acquired 16 service rigs from Widney Well Servicing and Brockham Oilwell Servicing ...
(6/26) ...Sempra Energy was formed from the merger of Enova and Pacific Enterprises with headquarter in San Diego, CA in a deal worth $6.2 billion ... Pennzoil Venezuela and partners, PanCanadian, and Petroleo y Gas Inversiones began operating Blocks B2X-68/79 and B2X-70/80 located in eastern Lake Maracaibo covering an area of 20,000 acres ... ... shareholders approved the merger between Dresser Industries and Halliburton ...
(6/25) ...Questa Pipeline (Salt Lake City, UT) planned to acquire Line 90 and associated Line 91 and 92 which run 700 miles between northwest New Mexico to Long Beach California from Arco Pipe Line for approx $40 million ... Ranger Oil (Calgary, Alberta) began production from the Kiame field offshore Angola with 7,000 B/D ... Energy Search (Knoxville, TN) acquired 56 wells in southeast Ohio from Viking Resources (North Canton, OH) for approx $1.75 million ... UTI Energy (Houston, TX) acquired 5 drilling rigs and other assets from LaMunyon Drilling, with activity in central Oklahoma, for $12.2 million, upped their fleet to 102 rigs ...

(6/24) ...AGA reported a build up of 82 BCF in the natural gas storage, representing 60.8% full vs. 58.2% last week's ... the U.N. Security Council decided to extend 6 more months of sanctions over Iraq after traces of the nerve gas VX was found on seven fragments of Iraqi missiles shot in 1985, six years before the1991 Gulf war ...OPEC issued the following production cut to be effective July 1, 1998:

Member Country	2/98 Prod Base MB/D	Cut MB/D	Cut %
Algeria	868	80	9.22
Indonesia	1,380	100	7.25
Iran	3,623	305	8.42
Kuwait	2,205	225	10.20
Libya	1,453	130	8.95
Nigeria	2,258	225	9.96
Qatar	700	60	8.57
Saudi Arabia	8,748	725	8.29
U. A. E.	2,382	225	9.45
Venezuela	3,370	525	15.58
Total	26,987	2,600	9.63

... Futhermore, non-OPEC member pledged to cut another 500 MB/D (including 200 MB/D from Mexico and 100 MB/D from Russia) ... Sunburst Acquisitions II (Houston, TX) changed name to Vector Energy and changed its state of incorporation from Colorado to Texas ... Russia's Zarubezhneft signed a contract to supply drilling equipment to Iraq worth $1 million after the U.N. Security Council passed the OK last week ...

(6/23) ...API reported crude oil stocks down 3.88 MMB, distillates stocks down 0.09 MMB, and unleaded gasoline stocks up 3.75 MMB, while refinery capacity down 0.6% to 98.8% versus last weeks' ... Forest Oil (Denver, CO) a majority shareholder of Saxon Petroleum (Calgary), entered an agreement to acquire all Saxon's shares held by minority shareholders ... Tappit Resources (Regina, Saskatchewan) acquired almost 90% of all common shares of Goal Energy ... Equity Oil (Salt Lake City, UT) announced their wells in the Sacramento Basin, Westcott #1-8 tested 7.5 MMCF/D from 7,500 feet and Armstrong #1-18 tested 4 MMCF/D from 8,600 feet ... a wholly owned subsidiary of Southern Minerals (Houston, TX) agreed to acquire all outstanding common shares of Neutrio Resources (Toronto) ... Chevron began production from the Dibi oil field onshore Nigeria and expected to reach 65,000 B/D in 2000 ... a wholly owned subsidiary of Burlington Resources (Houston, TX) and Talisman Energy (Canada) announced their MLSE-1 well in the Berkine Basin, Algeria tested 14,600 B/D and 107 MCF/D combined from 4 intervals ...
(6/22) ...Titan Exploration (Midland, TX) announced their Habanero #1 well in Webb County, Texas tested from 4.2 to 15 MMCF/D from a dual lateral hole in the down-dipped Austin Chalk ... Forest Oil (Denver, CO) acquired an additional 16% average working interest in the Exxon-operated Katy Field, west of Houston, from Amoco for approx. $14.6 million ... Malaysia's Petroliam Nasional Berhad (PETRONAS) and Vietnam's PetroVietnam Oil & Gas signed a Pre-Unitization Agreement covering the offshore area between the two countries ... Petroleum Geo-Services ASA (Houston, TX and Oslo, Norway) signed a letter of agreement to acquire Acadian Geophysical Services (Louisiana) and, in a separate deal, signed a merger agreement with Atlantic Power Group (UK) ...
(6/19) ... Amoco Caspian Sea Petroleum, Monument Resources International, and Central Fuel Caspian agreed to form an agreement to explore, develop, and production sharing contract over an area in the Azerbaijan sector of the Caspian Sea ...Frontera Resources signed an agreement to explore and develop the onshore Kursenge-Karabagh Block covering an area of over 16,000 acres currently producing 3,500 B/D ... Marathon Petroleum El Manzala and Centurion Energy International announced a gas discovery onshore Egypt with the Abu Monkar #1 well tested for 21.6 MMCF/D from 4,300 feet ... the El Manzala concession covers an area of 840,000 acres ...Schlumberger Techonolgy signed a definitive merger agreement with Camco International in a deal worth approx $3.1 billion ...
(6/18) ... the U.S. is looking the other way even though aware of Iraq smuggling oil via trucks to Turkey in the north and via ships to Iran and Dubai of over 100,000 B/D ... Lyondell Petrochemical(Houston, TX) agreed to acquire Arco Chemical Co. from Atlantic Richfield Co. for approx $5.6 billion ... Lyondell was formed in 1985 as a subsidiary of Arco ... Cynergy (Arlington, TX) acquired 100% working interest in certain oil and gas properties located in Kern County, CA in the San Joaquin Valley ...Pioneer Natural Resources (Dallas, TX) approved an exploration and production agreement with the Republic of South Africa with the first well tested 6,000 B/D and 3.6 MMCF/D from 8,500 feet ...
(6/17) ... AGA reported an injection of 104 BCF into the natural gas storage, representing 58.2% full versus 55.0% last week ... API reported crude oil stock reaching a 5-yr high while distillates stock reaching a 12-year high ... Russia said they would cut 63 MB/D ... Kinder Morgan Energy Partners (Houston, TX) entered a Stock Purchase Agreement to acquire Shell Pipe Line's 24% interest in the Plantation Pipe Line with 3,100-mile transportation pipeline network in the US southeast ... Forest Oil (Denver, CO) and Sonat Exploration announced their Eugene Island Block 43 #1 well in the Gulf of Mexico testing 16.7 MMCF/D and 400 B/D ... VAALCO Energy (Houston, TX) announced their Etame #1 well offshore Gabon, West Africa testing 3,500 B/D from 7,400 feet ... also offshore Gabon, Marathon and Santa Fe announced their Easat Orovinyare #1 well testing 2,460 B/D ...
(6/16) ... API reported crude oil stocks down 1.14 MMB, distillates stocks up 2.71 MMB, and unleaded gasoline stocks virtually flat, while refinery capacity up 1.4% to 99.4% versus last weeks' ... Gulf Cooperation Council members met in Riyadh and agreed to cut more production, Iran with 100 MB/D, Kuwait with 75 MB/D, United Arab Emirates with 75 MB/D, and Oman with 20 MB/D ... earlier Saudi Arabia promised to cut 225 MB/D, Venezuela with 125 MB/D, Mexico with 100 MB/D, and Qatar with 20 MB/D ... and Norway said that they would not cut anymore ... Aspen Exploration (Denver, CO tested its Emigh 35-1 well located in the Denverton Creek field, Solano County, CA, for 7 MMCF/D from the Starkey formation at 10,300 feet ... Inter-Tech Drilling Solutions Ltd (Calgary, Alberta) completed the acquistion of Big D Rentals & Sales Ltd. ...
(6/15) ... Berkley Petroleum (Calgary, Alberta) agreed to acquired the Southeast Saskatchewan and Puskwa Alberta oil and gas properties from Westminter Resources for $7 million plus special warrant and working interest in oil and gas properties located in the Conroy/Tommy Lakes, Hamburg, and Fireweed areas of Northeast British Comlumbia ... Occidental (Los Angeles, CA) signed an exploration and production sharing agreement for Block 27 in Oman covering an area of 613,000 acres, bordering the Suneinah Block which is producing 50,000 B/D ... Peak Energy Services (Calgary, Alberta) signed a Letter of Intent to acquire Lorchem Industries (Devon, Alberta) for $8.5 million ... Core Labs (Houston, TX) acquired all outstanding shares of PETRAK Group, SA (Zug, Switzerland) but will keep its name in West Africa and the Commonwealth of Independent States ...
(6/12) ... President Clinton extended the ban to the year of 2012 on offshore drilling off the coast of California, Washington, Oregon, southwest Florida, New England, the Mid-Atlantic and southern Alaska ... Houston Exploration (Houston, TX) completed the drilling of its East Cameron Block 83 #2 well to 11,725 feet encountering 4 pay zones totaling 80 feet which was expected to produce 10 MMCF/D and 130 B/D ...
(6/11) ...Amoco began to produce its Champlin 457 A#5 well located in Whitney Canyon field near Evanston, WY at a rate of 60 MMCF/D from the Madison at 14,600 feet ... Duke Energy Services (Houston, TX) acquired the 85 MMCF/D gas processing facility and the pipeline system located in Hayesville, LA from Dynegy (formerly NGC) ... Lasmo plc (London) signed a Production Sharing Contract with Pertamina for the Malagot onshore exploration license covering 1,650 acres in western Irian Jaya, Indonesia ... United States Refining and Petrochemicals (Houston, TX) signed a Letter of Intent to purchase a 14,000 B/D refining facility in Texas ...
(6/10) ... AGA reported an injection of 86 BCF into the natural gas storage, representing 55.1% full, versus 52.3% last week's ... Iran promised to cut 100,000 B/D production effective July after a meeting with Saudi oil minister ... Inland Refining (Denver, CO) agreed to acquire a refinery located near Roosevelt, UT with 15,000 B/D waxy crude capacity from Pennzoil Products Company ... Superior Energy Services (Harvey, LA) acquired Tong Specialty and Lamb Services (Lafayette, LA) ... Equity Oil (Salt Lake City, UT) and Westport announced the Beaver Creek #24-15 well in Golden Valley County, ND tested 1,800 B/D and 1.3 MMCF/D ... also, with Sharon Energy and Hallador Petroleum, the Otto Lohse #1-22 well in Glenn County, CA tested 2.4 MMCF/D from 5,500 feet ...
(6/9) ... API reported crude oil stocks down 1.94 MMB, distillates stocks up 0.68 MMB, unleaded gasoline stocks up 0.96 MMB and refinery capacity down 1.4% to 98.0% versus last week's ... Saint John refinery exploded and caught fire early today killing one worker, the Canadian largest 250,000-B/D processing capacity refinery is owned by Irving Oil and is located in the Atlantic Canadian province of New Brunswick ... Pennzoil (Houston, TX) announced a successful well located in the Egypt's Gulf of Suez tested 6,000 B/D from 10,800 feet in the 8,400-acre North July block ... Pennzoil involves in 5 exploration contracts in Egypt covering 9.2 million acres ... 3DX Technologies (Houston, TX) announced their well, PHS #1, located in the Tidehaven field, Matagorda County, Texas, tested 8.5 MMCF/D and 110 B/D from the Frio at 10,800 feet ... Black Warrior Wireline (Columbus, MS) completed the acquisition of Petro Wireline Services ...
(6/8) ... Swift Energy (Houston, TX) completed their PMMI #1 well in Pointe Coupee Parish, LA testing 500 B/D and 1.1 MMCF/D from the Sparta formation at 12,140 feet in the 9,300-acre Sherburne prospect ... also completed the Mechura #1OL, a dual horizontal well in Fayette County, TX, flowing 1,165 B/D and 1.8 MMCF/D from the Austin Chalk at 12,000 feet in a 120,000-acre lease ... Mid-America Pipeline, a subsidiary of Williams Energy, plans to expand its 412-mile NGL pipeline between Daggett County, UT to Bloomfield, NM from 75,000 B/D to 125,000 B/D ... Turboscope (Houston, TX) acquired 2 tubular inspection companies, Pacific Inspection (California market) and Viking Highlanders (Norway market) ... Tanganyika Oil (Vancouver, BC) entered a Production Sharing Agreement with the Arab Republic of Egypt over the offshore West Gharib Block ... Renaissance Energy (Calgary, Alberta) agreed to acquire all common shares of Pinnacle Resources worth $1.06 billion including $380 million in debt ...
(6/5) ... ARXA International Energy (Houston, TX) signed a Letter of Intent to acquire oil and gas assets in Harris and Chambers Counties, TX from Omega Fuels Distributors (Humble, TX) ... Samedan Oil (Ardmore, OK) acquired 50% ownership and operation in the East Breaks 420, 421, 464, and 465 tracts in the Gulf of Mexico from Forest Oil, who holds the remaining 50% ... FirstEnergy (Akron, OH) completed the acquisition of Marbel Energy ... Gateway Energy (Omaha, NE) agreed to acquire Abtech Resources and to merge it into Gateway Processing ... Abtech holds a license to process natural gas that has high nitrogen contents ...
(6/3) ... AGA reported an injection of 106 BCF into the natural gas storage, representing 52.3% full versus 49.1% last week's and 37.8% last year's ... Exxon Upstream Development Co. was formed to take over Exxon's responsibilities in development of the Hoover/Diana Project in the Gulf of Mexico and the Girassol Project offshore Angola ... Shell Technology Adventures and Haliburton Energy Service agreed to work together to develop and market Shell's expandable casing technology ... TransTexas Gas (Houston, TX) tested their State Tract 352 #1 well in Galveston Bay for 53.9 MMCF/D and 6,264 B/D from the Vicksburg zone at 15,200 to 16,200 feet ... Stone Energy (Lafayette, LA) put the A-6 well in the Eugene Island Block 243 on production at 15.1 MMCF/D and 1,200 B/D from 13,200 feet ...
(6/2) ... API reported crude oil stocks down 1.99 MMB, distillates stocks up 3.94 MMB, unleaded gasoline stocks up 1.83 MMB, refinery capacity up 1.0% at 99.4% versus last week's ... Seneca Resources (Buffalo, NY) completed the acquistion of oil and gas assets from Bakersfield Energy Resources ... together with the recent merger with HarCor Energy, Seneca now owns 100% of certain properties in the Lost Hills field in the San Joaquin Valley, CA ... Ranger Oil (Calgary) announced first production from the Columba E field in the North Sea with 9,000 B/D ... Tom Brown (Midland, TX) announced the initial production of 3.5 MMCF/D from their 14,500-ft well in the Wind River Basin, WY ... Saba Petroleum (Santa Maria, CA) agreed to merge into privately-held Ominex Resources to have head quarter in Fort Worth, TX with properties in Colombia, Canada, US, and the UK ... ONEOK (Tulsa, OK) agreed to acquire 40% equity interest in K. Stewart Petroleum (OKC, OK) with properties in western Oklahoma and the Texas Panhandle ...
(6/1) ... ONEOK (Tulsa, OK) increased its ownership to 97% in the Sycamore gas gathering system in Carter County, OK, after purchasing 55% from Continental Natural Gas ... in a separate transaction, Continental upped its ownership to 66% in the Laverne Gas Processing Plant in Harper County, OK after purchasing interest from ONEOK ... TransTexas Gas and Edge Petroleum (Houston, TX) announced the successful test on their McNeil #1 well in Live Oak County, TX testing 19.2 MMCF/D from 16,000 feet ... Amoco announced another successful well in the Judge Digby field producing 25 MMCF/D from 22,000 feet northwest of Baton Rouge ... North Coast Energy (Twinsburg, OH) completed the acquisition of over 900 wells and other assets from Kelt Ohio for approx $16 million ...
(5/29) ... ONEOK (Tulsa, OK) completed the acquisition of gas and oil properties located in the Chitwood, Golden Trend, and Mocane-Laverne fields in OK and the Spivey-Grabs, Wilmore, Glick, and Aetna fields in Kansas from OXY USA for approx $135 million ... USX Corp. (Pittsburg, PA) announced Marathon agreed to acquire Tarragon Oil & Gas Ltd (Calgary, Alberta) for approx $1.1 billion including $340 million in debt ... Tesoro Petroleum (San Antonio, TX) completed the acquisition of BHP Petroleum Americas Refining including a 95,000-B/D refinery and 32 retail gasoline stations in Hawaii for approx $243 million ... Pogo Producing (Houston, TX) agreed to acquire Arch Petroleum (Fort Worth, TX) for approx $115 million ...
(5/28) ... Caye Chapel (Las Vegas, NV) completed the acquisition of Great Plains for approx $6 million involving more than 1,800 shallow oil wells in south central Texas ... R&R Resources (Austin, TX) agreed to acquire all outstanding shares of Subsurface Energy (Coleman, TX) involving 26 oil wells in west central Texas ... United States Exploration (Denver, CO) purchased the interest of Union Pacific Resources Group in the Wattenberg area of the DJ Basin in Colorado for approx $41 million involving 336 wells ... Petroleum Development (Bridgeport, WV) agreed to purchase a majority interest in 122 gas wells, 2,700 acres in Pennsylvania, and a gathering system of Pemco Gas for approx $3.1 million ...
(5/27) ... API reported crude oil stocks down 3.61 MMB, distillates stocks up 1.69 MMB, unleaded gasoline stocks up 3.23 MMB, refinery capacity up 1.4% to 98.4% versus last week's ... AGA reported an injection of 92 BCF into the natural gas storage during last week, representing 49.1% full ... Duke Energy (Charlotte, NC) and Cresent Resources sold 9,600 acres in the Jocassee Gorges wilderness property to the State of North Carolina for approx $8.4 million while the value was set at $21 million ... Berkley Petroleum and Paramount Resources (Calgary, Alberta) agreed to purchase the interest of Shell Canada to become 100% owner in the Fort Liard and the Maxhamish areas ... Midland Resources (Houston, TX) signed a definitive Agreement and Plan of Merger with Vista Resources Partners (Midland, TX) ... Key Energy (East Brunswick, NJ) agreed to acquire Colorado Well Service (Rangely, CO) and HB&B (a well service company in Dickinson, ND) plus a repair facility from Watson Truck & Supply (Mills, WY) and 7 drilling rigs from Lakota Drilling (Midland, TX) ...
(5/26) ... Snyder Oil (Fort Worth, TX) acquired 75% of Amoco's interest in the Beaver Creek Unit and 2 gas plants in the Wind River Basin in Wyoming in exchange for Snyder's portion in the Jonah field in the Deep Green River Basin in Wyoming ... this was after Howell Oil settled with Amoco by trading its contractual right to purchase the Beaver Creek for the right to purchase interest in the Higgins Unit in Sweetwater County, WY and some overriding royalty in 78,000 acres in the Natural Buttes field in Uintah County, Utah ... The Eastern Group (Alexandria, VA) changed name to Statoil Energy, a member of the Statoil Group ... Equity Oil (Salt Lake City, NV), Hallador Petroleum (Denver, CO0, and Sharon Energy (Englewood, CO) announced the second Forbes sand discovery in their well in Glenn County, CA testing 6.2 MMCF/D from 5,400' ... Lasmo Overseas Nederland was awarded a Reconaissance License covering 4,500 acres of the Ras Tafalney area offshore western Morocco ...
(5/22) ... PetroTech Resources International (Austin, TX) confirmed a new Wilcox sand production in their 3 re-entry wells in Okmulgee County, Oklahoma, with 16 more to be re-entered and 9 new drills ... Costilla Energy (Midland, TX) found 500 ft of Deep Wilcox sand at 16,500 ft in their third well, Migl-Michell #3, in the Southwest Speaks project in Lavaca County, Texas ...
(5/21) ... United States Exploration (Denver, CO) completed the acquistion of all working interests in 336 wells in 34 oil and gas fields plus 400,000 acres in northeast Colorado from Union Pacific Resources for approx $41 million ...... National-Oilwell (Houston, TX) completed the acquistion of all outstanding capital stock of Specialty Tools (Aberdeen) with main line in coil tubing tools ... Harken Energy (Dallas, TX) acquired a majority interest in 33 wells in 2 fields in Louisiana with common stock worth $20 million ... Texaco began production from the first well in the Barite South project south of Lake Charles in the Gulf of Mexico with 50 MMCF/D ... Valero Energy (San Antonio, TX) agreed to purchase the 150,000-B/D refinery in Paulsboro, New Jersey from Mobil for approx $228 million plus $108 million for inventory, making Valero the second largest domestic independent refining company ... Core Lab NV (The Netherlands) agreed to acquire Owen Oil Tools (Fort Worth, TX) with stock worth approx $55 million and $7 million in debt ...
(5/18)Texaco and NGC (Houston, TX) signed a memorandum of understanding to form a joint venture to own and operate a 290-mile natural gas liquid pipeline from Sorrento, LA to Mont Belvieu, TX ... The U.S. agreed with European Union to wave off the Iran Libya Santions Act against 3 firms planning to invest in Iran's offshore South Pars gas field ...... U.S. Interior Dept announced that further seismic analysis indicated a section of the Artic National Wildlife Refuge in Alaska contains at least 11.6 billion barrels ... St Mary Land & Exploration (Denver, CO) successfully completed a well in the Atchafalaya Bay testing 15.6 MMCF/D and 1,090 B/D from 12,300 feet ... Apache (Houston, TX) announced a delineation well in western Egypt encountered higher structurally sand testing a total of 9,200 B/D from 2 zones at 7,000 feet ... McGowen Resources (Las Colinas, TX) acquired interest in 12 wells in Oklahoma from Citrus Energy ...
(5/15) ... Kerr-McGee (Oklahoma City, OK) completed the acquisition of the UK North Sea operations from Gulf Canada Resouces for approx $590 Cn ($415 US) million ... Arco entered a Production Sharing Argeement to explore for natural gas in Mozambique ... PANACO (Kansas City, MO) entered an agreement to acquire 100% interest in the East Breaks Blk 165 and 209 and 75% interest in the High Island Block 587 from BP Petroleum for approx $19.5 million including production platform and a pipeline system ...
(5/14) ... Qatar, Saudi Arabia, and United Arab Emirates reached a concensius on the need of further oil production cut if crude price stays at this level ... Gruy Petroleum Management (Irving, TX) discovered the Mississipian Reef in a well in Eastland County, TX testing an absolute flow of 9.2 MMCF/D from 3,100 feet ... EuroGas (New York, NY) entered an agreement to join UKRNAFTA to develop the Dolina oil field in western Ukraine, estimated to have a remaining reserves of 235 MMB ... Peak Energy Services (Calgary, Alberta) signed a Letter of Intent to acquire all shares of Zeta Oilfield Rentals (Nisku, Alberta) for approx $8 million in cash and stock ... CalEnergy Gas acquired 25% interest in the Esmond Transportation System Pipeline and 23.3% interest in the License P157 Block 44/27a in Southern Gas Basin in the North Sea from ELF Exploration UK ...
(5/13) ... AGA reported an injection of 100 BCF into the natural gas storage, representing 43.3% full ... Southern Mineral (Houston, TX) agreed to acquire Neutrino Resources for approx $40 million increasing production by 50 MMCFE/D ... National-Oilwell (Houston, TX) agreed to purchase all common stock of Phoenix Energy Products for approx $115 million plus $35 million debt, they also agreed to purchased Roberds-Johnson Industries with 1.35 million shares worth approx $53 million ....Mobil Oil Canada and consortium was awarded 58,000 acres concession 135 miles offshore Nova Scotia for exploration, this is adjacent to current holding of 183,000 acres in the area known as "Sable Offshore Energy Project) expected to produce 500 MMCF/D late 1999 ... Midcoast Energy Resources (Houston, TX) agreed to purchase 2 natural gas pipeline systems located near Baton Rouge from Koch Gateway Pipeline for approx $2.6 million ...
(5/12) ... API reported crude oil stocks up 0.79 MMB, distillates stocks up 1.07 MMB, unleaded gasoline stocks up 3.35 MMB, refinery capacity down 2.7% at 95.9% versus last week's ... Lomak Petroleum (Fort Worth, TX) and Domain Energy (Houston, TX) announced plan to merge to a new company named Range Resources Corp. in a deal worth approx $215 million in stock to Domain ... Hallwood Energy Partners and Hallwood Consolidated Resources signed an agreement to purchase $34.5 million worth of production payment in 34 coal bed methane gas wells in LaPlata County, CO from an affiliate of Enron ... Royal Landmark Structures, L.L.C. , headquartered in Houston, TX, is a new joint venture between Royal Group Technologies Ltd (Toronto) and Shell Chemical Holding ... Fina and Seagull Energy announced a natural gas discovery in their well in Hidalgo County, south Texas testing 15 MMCF/D at 9,275 psi flowing pressure from 15,000 feet in a leasehold of 6,000 acres ...
(5/11) ... DuPont plans to sell a 20% stake in its wholly owned subsidiary, Conoco, Inc. (which brought in nearly half of DuPont's earnings last year), to the public, and will divest the remaining interest as the company is to exit the oil and gas business ... Miller Petroleum (Huntsville, TN) discovered coal bed methane gas from 1,200 ft on its 40,000-acre lease located in southeastern Kentucky ... Cabinda Gulf Oil, a wholly owned subsidiary of Chevron, began oil production from the Lomba field offshore Angola at 15,000 B/D ...
(5/10) ... Baker Hughes and Western Atlas (Houston, TX) announced a merger agreement that will remain Baker Hughes for approx $5.5 billion ... creating a leading oilfield technology and services company which offers fully integrated reservoir management from exploration through production ...
(5/8) ... Forcenergy (Miami, FL) acquired 37.5% interest in the West Cameron Block 110/111 field from Conoco for $3.25 million, it also acquired 33.67% interest in the Main Pass 74/75 field and 9% in the Main Pass 69 field from Texaco ... EXCO Resources (Dallas, TX) acquired Jacobi-Johnson Energy (Tyler, TX), an independent operator with 38 wells in East Texas ... Solv-Ex Group was approved to sell 12% interest in the Athabasca Oil Sand Project (covering almost 56,000 acres) to United Tri-Star Resources (Toronto) for a total holding of 22% and the remaining 78% interest to a limited partnership of Koch Oil Cananda ... United Tri-Star also proposed to merge with Reef Resources of Alberta ...
(5/7) ... Koch Refining is expected to pay $6.9 million and undertake major improvements to control pollution at its 280,000 B/D refinery near St. Paul, MN ... Texaco and Messer Group of Germany formed Singapore Syngas, a joint venture to own and operate a gasification plant on Jurong Island, Singapore ... Arakis Energy (Calgary, Alberta) began the construction of a 28-inch 1,500-km 250,000 B/D pipeline from southern Sudan to a marine terminal near Port Sudan on the Red Sea ....Continental Energy (Vancouver, BC) acquired 40% working interest in the Opossum Creek Prospect in south Texas from Producers Energy ... Minex Minerals (Vancouver, BC) completed the acquisition of 25% working interest in the El Chivil and Surubi concessions covering over 150,000 acres in Argentina from the Roggio Group ...
(5/6) ... A survey by Reuters indicated that the OPEC and non-OPEC producers did cut back 0.9 MMB/D of production but not as much as promised of 1.25 MMB/D ... AGA reported an injection of 78 BCF into the natural gas storages during last week, representing 43.2% full ... Dresser Industries (Dallas, TX) signed an agreement to acquire Valgro, a major valve manufacturer located in Edmonton and Calgary, Alberta, Canada ... Kerr-McGee (Oklahoma City, OK) and BP Exploration & Oil signed a deep water exploration agreement which Kerr-McGee acquired 50% working interest in 24 Gulf of Mexico blocks which BP had 100% ... they also are partners in the Pompano field in the Gulf of Mexico ... Omni Energy Services (Carencro, LA), a seismic crew support company, acquired Eagle Surveys International, a survey company based in Texas ...
(5/5) ... API reported crude oil stocks down 0.70 MMB, distillates stocks up 0.93 MMB, unleaded gasoline stocks virtually unchanged, and refinery capacity up 2.9% at 98.6% over last weeks' ... MSR Exploration Ltd. signed a letter of intent to merge into Quicksilver Resources, primarily owned by Mercury Exploration, Trust Company of the West, and an affiliate of Enron, combined to have 1,200 wells and 600,000 acres in Michigan, Montana, Wyoming, Texas, and Canada ...
(5/4) ... ARCO signed an agreement to acquire Union Texas Petroleum for approx $3.3 billion, boosting ARCO's daily production by 15% ... Iran Oil Minister said that world oil output cuts were not enough to stabilize weak oil prices and Iran was willing to cut production again ... BUT then U.S. Energy Secretary told Saudi Arabia's oil minister that the U.S. government is against any collective agreement between OPEC and non-OPEC nations to make additional cuts in world oil production ... Enron Comercializadora de Energia Argentina, an affiliate of Enron International Argentina, was granted the first power marketer licence in Argentina... Metretek, a wholly owned subsidiary of Marcum Natural Gas Services, completed the acquisition of certain assets and product lines of American Meter Co. for approx $4.5 million ... Anadarko announced its well started first production from the Hassi Berkine South field in Algeria ...
(5/1) ... Tesoro entered an agreement to acquire the 108,000 B/D Anacortes refinery in Washington from Shell Oil ... recently Tesoro agreed to purchase a refinery in Hawaii from The Broken Hill Proprietary Co. Ltd ... EXCO Resources plans to merge with Gladstone Resources, both of Dallas, Texas ... Abacan Resources moved their head quarter office from Calgary to Houston ...
(4/30) ... Houston Exploration closed the acquistion of oil and gas properties from a private concern for approx $51 million involving 14 MMCFequivalent/D and 46,600 acres in Vermilion and Terrebonne Parish, Louisiana ... Amoco Norway announced a discovery well offshore Norway with three tests combined of 12,320 B/D and 39.3 MMCF/D from 13,800 feet ... Tejas Gas Corp changed name to Tejas Energy, LLC after Shell acquired Tejas last January for $3 billion and then merged Shell's midstream natural gas assets into Tejas ... Canadian 88 announced a gas discovery in west central Alberta tested 30 MMCF/D from 11,700 ft ... Apache announced 3 wells in the Khalda Concession in the western desert of Egypt testing a combined of 90 MMCF/D and 6,800 B/D from 13,000 feet ... Adair International acquired the Las Nieves Association Contract in Colombia covering 128,000 acres ...
(4/29) ... Iraqi Foreign Minister challenged the recent agreement with U.N. which provides unlimited access to presidential palaces with no limits on repeat visits ... AGA reported an injection of 64 BCF into the natural gas storages during last week, representing 40.6% full ... Genesis Energy closed the acquisition of Falco S&D, a crude oil gatherer in Louisiana and East Texas ... Forest Oil proposed to acquire all stock shares of Saxon Petroleum ... Marine Drilling agreed to purchase the Maersk Explorer, a jackup drilling rig ... Snyder Oil announced a successful well in the Jonah field in Wyoming with sustained production of 15 MMCF/D and 212 B/D ... Queen Sand Resources completed the acquisition of 60% working interest in 21 wells and over 61,000 acres in western Kentucky ...
(4/28) ... API reported crude oil stocks up 2.21 MMB, distillates stocks down 0.83 MMB, unleaded gasoline stocks down 1.18 MMB, refinery capacity down 2.0% at 95.7% vs last week's ... U.N. Chief Weapons Inspector Butler told the Security Council that they have discovered "an amount of chemical munitions with perfectly good chemical agents within them" while searching for mustard gas weapons in Iraq ...
(4/27) ... Venezuela, with support from UAE, Kuwait, and Qatar, calls for further world market cut of 500,000 B/D on top of the current 1,500,000 B/D ... Norway announced plan to cut 100,000 B/D in production effective May 1 ... Cross Timbers completed the acquistion of properties in east Texas from EEX for approx $265 million ... Harken Energy announced its Olivo #1 well in the Middle Magdalena Basin of Colombia testing 10,800 B/D ...
(4/24) ... API reported U.S. well completions at 7059 in the first quarter of 1998, of which 1228 were dry hole, representing 83% successful rate, 3169 were gas wells and 2661 were oil wells ... Anadarko announced a successful extension well in the Dew field in east Texas testing 7.1 MMCF/D from the Bossier sand ...
(4/23) ... in response to U.N. Special Commission Chairman Butler's report that no progress in weapons inspection made through March, Iraq Deputy Premier Aziz demanded that the U. N. Security Council immediately lift all sanctions imposed since 1991 ... VAALCO (Houston, TX) acquired 1818 Oil Corp. for Preferred Stocks, it also formed a joint venture with Paramount Petroleum to explore in the Gulf Coast area ... Canadian 88 Energy (Calgary) discovered a natural gas field in the Lone Pine Creek area tested 9 MMCF/D and 150 B/D from a horizontal section at 8,300 feet ...
(4/22) ... Woodside Petroleum (operator), BHP, BP, Chevron, Japan Australia LNG and Royal Dutch/Shell announced their appraisal well offshore Western Australia tested 6,500 B/D and 6.6 MMCF/D ... AGA reported a withdrawal of 54 BCF from the natural gas storage, resulting in 38.4% full ... Dominion Energy (Richmond, VA) completed the acquisition of Archer Resources Ltd (Calgary) for $119 million plus $26 million in debt setting up Dominion Energy Canada Ltd ... 3DX and PrimEnergy (Houston, TX) announced a recent discovery in Matagorda County, Texas flowing 8 MMCF/D and 160 B/D from Lower Frio formations ...
(4/21) ... API reported crude oil stocks up 3.29 MMB, distillates stocks up 0.11 MMB, unleaded gasoline stocks up 1.35 MMB, and refinery capacity up 1.5% at 97.7% versus last week's ... Yuma Exploration (Houston, TX) announced a successful well near Thibodeaux field, LaFourche Parish, Louisiana testing 1,680 B/D and 1.3 MMCF/D from 15,200 feet ... Connecticut Energy and Conectiv agreed to form Total Peaking Service, a joint venture in a liquefied natural gas storage facility near Milford, Connecticut ... Apache announced a discovery well in Cararvon Basin, offshore northwest Australia tested for 52 MMCF/D and 850 B/D from 2 zones ...
(4/20) ... Cotton Valley Resources announced the first successful high-volume horizontal injection well drilled in the Means field in West Texas, planning to replace 40 vertical injectors with 13 horizontal injectors ...
(4/17) ... U. N. Secretary General Anan said that he was satisfied with the result from the last Iraq weapon inspections ... Aviva Petroleum (Dallas, Texas) and Garnet Resources announced agreement to merge ... Union Texas Lok Batan agree to acquire 75% of BMB Oil's interest in a Production Sharing Agreement with the State Oil Company of the Azerbaijan Republic to become the operator of the enhanced oil project ...
(4/16) ... Iraq issued a statement demanding an end to U.N. sanctions ... PANCO completed the West Cameron 144 #12 well in the Gulf of Mexico flowing 16 MMCF/D and 200 B/D ... Unocal's Spirit Energy 76 acquired 9.2% working interest in the Van Field in Van Zandt County, Texas from Shell Oil, up its holding to 91% ... Chevron announced the start up production of the Gbokoda oil field offshore Nigeria ... Union Pacific Resources Group entered a contract to acquire interests in oil and gas fields in Wyoming and Louisiana from Petroleum Strategies which recently purchased from Occidental ...
(4/15) ... AGA reported an injection of 22 BCF over last week into the natural gas storage, resulting in 34.0% full ... Unocal Canada completed the exchange of its Canadian oil and gas properties for common stock and debenture of Tarragon Oil & Gas worth $208 million ... Occidental has completed its phase of selling oil and gas properties in Louisiana and Mississippi to Petro Hunt for approx $194 million, Wyoming and Austin Chalk in Louisiana to Petroleum Strategies for approx $62 million, and Oklahoma to Anadarko for approx $120 million ... Holly Corp to merge into Giant Industries resulting in a total of 4 refineries, 137 gas stations, pipeline systems, terminals, fleet, ...
(4/14) ... API reported crude oil stocks up 6.50 MMB, distillates stocks up 1.20 MMB, unleaded gasoline stocks down 1.41 MMB, refinery capacity up 1.9% at 96.2% versus last week's ... Arctic Pacific Contractors, a 50/50 joint venture between Fluor Daniel and Brown & Root Energy Service was selected to provide engineering and planning for the development of the Sakhalin project in Russia ... Lomak Petroleum acquired oil and gas properties including 32 producing wells in 14,200 acres in West Texas for approx $57 million ... Canadian 88 Energy entered an agreement to acquire asset in West Central Alberta for approx $45 million ...
(4/13) ... Gulf Canada Resources was granted a 3-year exclusive permit to explore 800,000 acres offshore east coast of Canada near the French islands of Saint Pierre and Miquelon ... Dresser Industries acquired Mooney Controls ... Midcoast Energy Resources acquired the Port Hudson pipeline system and 50% ownership in Texana Pipeline Company ... Precision Drilling acquired all outstanding common shares of Inter-Tech Drilling Solutions ...
(4/9) ... UTI Energy acquired Peterson Drilling including 8 drilling rigs for approx $24 million ...
(4/8)...AGA reported an injection of 53 BCF into the natural gas storage, representing 33.3% full ... U. S. Department of Energy forecasted for the summer, unleaded gasoline at $1.20/gallon (vs. $1.29/gal last summer) and crude oil at $14.67/BBL (vs $17.86/BBL) ... Russia announced a cut of 61,000 B/D to help support sagging crude oil price ... Kerr McGee Yemen signed an agreement with Canadian Petroleum International Holdings to jointly explore 2 blocks in Yemen covering 10 million acres ... Smith International acquired Milcor Oil Tools ... Union Carbide and Malaysia Petronas formed a joint venture to build and operate an integrated chemicals complex in Malaysia ...
(4/7) ... Vastar and Shell Deepwater Development traded interests in 6 blocks in the Gulf of Mexico and a 17,200-ft wildcat well in Borneo ... Cabot announced successful tests in 2 wildcats and one development well in the Appalachian area of West Virginia from the Oriskany sand ... Pride International agreed to buy the MSV Amethyst, a self propelled semisubmersible drilling rig for approx $85 million ...
(4/6) ... Apache announced an agreement with Texaco involving 2 offshore blocks totaling 1.5 million acres in the Bohai Bay, China ...
(4/3) ... The U. N. has completed the weapons inspections of the 8 Iraqi presidential palaces, finding a large number of vacant buildings but no weapons storages ... Dominion Energy is approved by the Canadian Ministry of Industry to acquire Archer Resources ... Northstar Energy agreed to sell $75 million worth of non-core and mature oil properties to concentrate on natural gas sector ...
(4/2) ... Schlumberger Oilfield Service completed the acquisition of Coastal Management, a project management service company ... Tesoro E&P announced the completion of Earwood B2 well in the Val Verde Basin flowing 15.7 MMCF/D from 8,750 feet ... Meota Resources closed the acquisition of oil and gas properties in western Canada from CS Resources Holdings for approx $37 million ... also from Prairie Birch Royalties for approx $19 million ... Sands Petroleum AB has changed its name to Lundin Oil AB ...
(4/1) ... Mitchell Energy agreed to acquire working interest in the Columbus field, southeast Texas, from Occidental, varying working interests in the Personville, east Texas, and completed the acquisition of the west Texas Perkins/Noel gas gathering system from Western Resources ... AGA reported a withdrawal of 20 BCF from the natural gas storage last week, resulting in 31.6% full ...
(3/31) ... API reported crude oil stocks up 2.20 MMB, distillates st