(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 ...
|Member Country||2/98 Prod Base MB/D||Cut MB/D||Cut %|
|U. A. E.||2,382||225||9.45|
... 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 ...