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IMPORTANT OIL & GAS NEWS

OIL & GAS NEWS ARCHIVE ... April - June 1999

1/97 - 6/97 7/97 - 12/97 1/98 - 3/98 4/98 - 6/98 7/98 - 9/98 7/98 - 12/98 1/99 - 3/99 4/99 - 6/99 7/99 - 9/99 10/99 - 12/99 1/00 - 3/00 4/00 - 6/00 7/00 - 9/00 10/00 - 12/00 1/01 - 3/01 current quarter

(6/30) ... AGA reported an injection of 91 BCF into the natural gas storage, representing an increase of 2.8% at 62.6% full ... the DOE reported crude oil stocks at 330.4 MMB, down 1.7 MMB from last week ... NYMEX light sweet crude closing is highest in 19 months since November 26th, 1997 ... shareholders approved the merger of Dominion Resources Inc. and Consolidated Natural Gas Co., would create the largest domestic fully integrated natural gas and electric company ... Energy East Corp. (Stamford, CT) and CTG Resources, Inc. (Hartford, CT) agreed to merge in a transaction worth $355 million ...
(6/29) ... API reported crude oil stocks down 0.49 MMB, distillates stocks up 1.12 MMB, unleaded gasoline stocks down 1.11 MMB, and refinery capacity up 0.1% at 96.3% versus last week's ... XCL China, the 50/50 partner with Apache China yesterday sought the removal of Apache as the operator of the Zhao Dong Block, today received the petition from Apache to put XCL in bankruptcy ... Michael Baker Corp (Pittsburg, PA) signed the Letter of Intent to acquire all assets of Steen Production Service (Lafayette, LA) ... Newfield (Houston, TX) agreed to purchase Gulf Australian Resources Ltd ... Esso Exploration & Production and partners announced the fifth discovery well in Block 17 offshore Angola in 3,300 feet of water tested 7,000 B/D from 8,300 feet ...
(6/28) ... Empiric Energy (Dallas, TX) signed the Letter of Intent to acquire J. Consulting Group involving 4 groups of properties for approx $9.5 million in cash and $2.5 million in stocks ... Ivanhoe Energy (Calgary) is the new company formed from the merger of Black Sea Energy and Sunwing Energy ... Union Pacific Resource Group announced the completion of the first horizontal well completed in the Frontier formation in Wyoming's Green River Basin producing 13 MMCF per day ... Premier Oil Plc (London) and Shell announced the discovery of natural gas in the Zamzama field in southern Pakistan tested 3.9 MMCF/hour ...
(6/25) ... Baker-Hughes reported U. S. rig count down 3 against last week at 563 (453 for gas and 110 for oil) ... Canada's rig count up 16 at 218 ... Brigham Exploration (Austin, TX) sold certain properties in the Chitwood field, Grady County, OK and Red Deer Creek field, Roberts County, TX in the Anadarko Basin to 2 parties for approx $17.1 million ... Daugherty Resources (Lexington, KY) agreed to acquire Petroleum Exploration & Technology (Los Angeles, CA) ... Tecpetrol (Buenos Aires, Venezuela) announced an oil discovery in the Macaraibo Basin tested 1,900 B/D from the Mirado I formation at 8,700 feet ...
(6/24) ... Tuboscope, an oilfield products supplier, and Newpark Resources, an oilfield service company, agreed to merge in a $1.3 billion deal ... Ashland denied the rumor that they planned to acquire Nalco Chemical ... Causeway Technologies is the new name for Black Diamond Energy (San Diego, CA) ... shareholders of Commonwealth Energy System approved the merging plan of the two companies ... Range Resources (Fort Worth, TX) and FirstEnergy agreed to form a 50/50 joint venture in the Appalachian Basin ...
(6/23) ... AGA reported an injection of 85 BCF into the natural gas storage, representing an increase of 2.7% at 59.8% full ... the DOE reported crude oil stocks at 332.1 MMB, down 2.7 MMB from last week ... Cotton Valley Resources' directors agreed to be merged into Crown Partners LLC Minerals Division ... Sooner, Inc. completed the acquisition of Oilfield Country Tubular Goods from Smith International ... GulfStream Resources Canada Ltd announced two successful wells offshore Qatar with a total initial production of 6,500 B/D ...
(6/22) ... API reported crude oil stocks down 5.75 MMB, distillates stocks down 2.07 MMB, unleaded gasoline stocks up 0.16 MMB, and refinery capacity down 0.5% at 96.2% versus last week's ... six Texaco's platforms offshore Nigeria still shut down affecting 50,000 B/D production ... California Coastal Convervancy agreed to acquire the 181-acre oil property from Bixby Ranch Co. ... after the acquisition, known as the Los Cerritos Wetlands located southeast of Long Beach, 104 acres would be turned back to wetlands ... Halliburton Energy Services proposed to team up with Tri-Valley Oil & Gas to provide technical services and support to the Project Elkho south of San Joaquin Valley, California ...
(6/21) ... Chevron restarted its 47,000-B/D hydrocracker unit in its refinery in El Segundo, California which was shut down since late May ... Sempra Energy (San Diego, CA) and K N Energy (Lakewood, CO) mutually agreed to terminate the merger talk ... FieldPoint Petroleum (Austin, TX) acquired certain oil and gas properties in Oklahoma from Pontotoc Production for approx $1.2 million ... Sierra System Group (Vancouver) acquired Pacific International Mapping (Victoria), a Geographic Information Systems consting and management firm ...
(6/18) ... Baker-Hughes reported U. S. rig count up 19 against last week at 566 (449 for gas and 116 for oil) ... Canada's rig count up 32 at 202 ... Texaco shut down two production platforms offshore Nigeria after Nigerian youths boarded the platforms to protest a year-old oil spill affecting 90,000 B/D ... Thunder Energy (Calgary) completed the acquisition of gas wells, a gas plant, and a gathering system in the Fern Big Valley area northeast of Calgary including interest in approx 26,000 acres ...
(6/17) ... the DOE reported crude oil stocks at 334.8 MMB, up 1.8 MMB from last week ... CNG Producing agreed to acquire 50% interest in the Lopano and two adjacent gas fields in south Texas ... Lexico Resources International (Denver, CO) signed the letter-of-intent to acquire Michigan Exploration with stock worth $3 million ...
(6/16) ... AGA reported an injection of 63 BCF into the natural gas storage, representing an increase of 1.9% at 57.1% full ... the U. S. Government signed the contract with Mobil, Texaco, and Shell to accept royalty from the Gulf of Mexico properties in kind totaling 9.3 million barrels to be added to the national emergency stock pile ... Kinder Morgan Energy Partners (Houston, TX) completed the acquisition of the interest of Chevron in Plantation Pipe Line Company with approx $124 million in cash covering the 3,144 mile gathering pipeline capable of 600,000 barrels per day of refined products ... Exxon announced their well south of Dauphin Island, Mobile County, Alabama with a record test of 126 MMCF/D from 21,800 feet ...
(6/15) ... API reported crude oil stocks up 4.37 MMB, distillates stocks up 0.80 MMB, unleaded gasoline stocks down 2.25 MMB, and refinery capacity down 0.5% at 96.7% versus last week's ... Bellwether Exploration (Houston, TX) agreed to acquire the interest of Energen Resources in 40 federal blocks in the Gulf of Mexico for approx $22.3 million ... Apache announced two discovery wells in the Outer Continental Shelf / Gulf of Mexico tested a total of 52.5 MMCF/D ... Esso Brasileira de Petroleo was awarded an exploration license in deep water covering 670,000 acres ... Canadian Occidental Petroleum was awarded two exploration licenses offshore northwest Australia covering 4.3 million acres ...

(6/14) ... Dynegy (Houston, TX) agreed to acquire Illinova (Decatur, IL), an electric utility company serving the Midwest for approx $2 billion ... Callon Petroleum (Natchez, MS) acquire the interest of Murphy Exploration & Production in 9 Outer Continental Shelf blocks in the Gulf of Mexico ... Crystal Oil Co. (Shreveport, LA) changed name to Crystal Gas Storage to own and operate two salt cavern natural gas storage near Hattieburg, MS ... Phillips Petroleum signed a Production Sharing Agreement with the government of Oman in a block covering 4.45 million acres in southwest Oman ... Esso Exploration & Production Guyana Ltd was granted a Production Sharing Contract covering 15 million acres in deep water offshore block ...
(6/13) ... Venezuelan oil unions called off the planned strike after the government backed down the decision of freezing oil workers' wages ...
(6/11) ... Baker-Hughes reported U. S. rig count down 8 against last week at 547 (411 for gas and 136 for oil) versus last year's of 868 ... Canada's rig count up 12 at 170 versus 254 in last year ... Talisman Energy (Calgary) agreed to acquire Highridge Exploration with stock worth $90 million including $28 million in assumed debt ...
(6/10) ... Columbia Energy rejected the newest proposal from NiSource and emphasized that the company was not for sale ... shareholders approved the merger between Sonat and El Paso Energy ... BP Amoco planned to sell its Canada oil properties but keep Canada gas properties and petrochemicals business ... Magnum Hunter Resources (Irving, TX) closed the acquisition of Vastar's interest in 476 wells, a gas processing plant, and 2 natural gas gathering systems for approx $32.5 million ... Norway's Statoil and Norsk Hydro offered more money than France's Elf Aquitaine's offer for Saga Petroleum ASA ...
(6/9) ... AGA reported an injection of 91 BCF into the natural gas storage, representing an increase of 2.8% at 55.2% full ... the DOE reported crude oil stocks at 333.0 MMB, up 1.9 MMB from last week ... Texaco formed a 50/50 joint venture with Tyumen to market lubricants in the Russian Federation, Belarus, and Ukraine ... CMS Continental Natural Gas (Dearborn, MI) acquired Anson Gas Marketing and Mid-Continental Gas Pipeline including 6 natural gas gathering systems ... Delta Petroleum (Denver, CO) agreed to purchase Whiting Petroleum's 6.07% working interest in the Point Arguello Unit/platform, onshore facilities, and leasehold interest in the Rocky Point Unit for approx $6 million in cash plus some stock ... Enerplus Group (Calgary) completed the acquisition of Derrick Energy including gas properties in southeastern Alberta for approx $27 million ...
(6/8) ... API reported crude oil stocks up 2.61 MMB, distillates stocks down 1.24 MMB, unleaded gasoline stocks up 3.93 MMB, and refinery capacity up 0.5% at 97.2% versus last week's ... Energy Information Agency's (EIA) "short term energy outlook" report forecasted world demand would exceed world supply by 1.3 million B/D ... Texaco and Chevron announced the first production from "Gemini", a new subsea system of wells and flowlines in 3,400 feet of water in the Gulf of Mexico ... Ambra Resources Group and Venture Oil & Gas (Vancouver) agreed to purchase oil and gas properties in the Arkoma Basin in Oklahoma ...
(6/7) ... OPEC reported 90% compliance with the production cut promises ... NiSource (Richmond, VA) launced a hostile bid for Columbia Energy (Herndon, VA) after Columbia rejected NiSouce's formal offer of $68/share (30.7% over premium) or approx $5.7 billion in cash ... Boards of directors of Southern Union and Pennsylvania Enterprises approved the merger plan in which Southern Union to acquire Pennsylvania Enterprises in a deal worth approx $500 million ... Vintage Petroleum agreed to acquire Total's 70% interest in a 150,000-acre exploration (with existing production) concession in the San Jorge basin, Argentina for approx $93 million ...
(6/4) ... Baker-Hughes reported U. S. rig count up 21 against last week at 555 (421 for gas and 134 for oil) versus last year's of 1083 ... Canada's rig count up 52 at 158 versus 221 in last year ... Equilon Enterprises, a joint venture between Texaco and Royal Dutch / Shell, planned to get out of the refining operations in the Midwest and expand the marketing business, agreed to sell their 110,000 B/D refinery in El Dorado, Kansas to Frontier Oil and their 295,000 B/D refinery in Wood River, Illinois to Clark USA but to buy 12 product terminals from Clark USA ...
(6/3) ... AGA reported an injection of 71 BCF into the natural gas storage, representing an increase of 2.2% at 52.4% full ... the DOE reported crude stocks at 331.1 MMB, down 1.0 MMB from last week ... Coastal Field Services (Houston, TX) acquired 100% ownership in the Altonah natural gas gathering systems in Duchesne County, northeast Utah from Gary-Williams, also acquired the remaining 72% ownership in the Bluebell system located in the similar area ... Encore Operating LP (Fort Worth, TX) completed the acquisition of the interest of Shell Expl & Prod in the Cedar Creek Anticline in the Williston Basin in Montana and North Dakota ... Castle Energy (Radnor, PA) completed the acquision of the interest of AmBrit in 230 properties in Alabama, Louisiana, Mississippi, New Mexico, Oklahoma, and Texas ...
(6/2) ... API reported crude oil stocks down 1.47 MMB, distillates stocks up 1.94 MMB, unleaded gasoline stocks up 2.32 MMB, and refinery capacity stayed unchanged at 96.7% versus last week's ... Texaco turned down the offer from Chevron citing "unacceptable for several reasons, including complexity, feasibility, risk and price" with a rumor of $70/share (9% above premium) or approx $37 billion ... Clayton Williams announced the first Cotton Valley Pinnacle Reef discovery in Robertson County, TX tested 44.3 MMCF/D ... St. Mary Land & Exploration (Denver, CO) completed the acquisition of Nance Petroleum and Quanterra Alpha for approx $8 million with stock and assumption of debt including properties in Montana and North Dakota ... Rio Nevada Energy (Calgary) offered to acquire 2 Exploration Agreements in northwest Truro, Nova Scotia from Consolidated Beacon Resources ...
(6/1) ... Equitable Resources agreed to acquire Carnegie Natural Gas Co. and affiliated subsidiaries of USX from USX-Marathon ... Smith International (Houston, TX) aquired the oilfield supply and distribution operations of CONEMSCO ... Italy's ERS SpA announced cut in crude oil input to its refinery in Sicily ...
(5/31) ... stockholders of Tikal Resources and Cirque Energy of Calgary approved the merger plan of the two companies ... Unocal and Occidental signed the agreement that they would swap Unocal's assets and liabilities in Yemen for Occidental's in Bangladesh next month ...
(5/28) ... Baker-Hughes reported U. S. rig count up 16 against last week at 534 (404 for gas and 130 for oil) versus last year's of 822 ... Canada's rig count up 59 at 106 versus 201 in last year ... France's Elf Aquitaine offered $2.16 billion in cash for Norway's Saga Petroleum ASA, which was earlier offered $2.18 billion in stock from Norsk Hydro ASA ... Basin Oil & Gas (Lexington, KY) completed a well in Overton County, Tennessee that could be the biggest well in Tennessee tested at 100 barrels of oil per hour from 700 feet ...
(5/27) ... Shareholders of Exxon and Mobil approved the merger of the two companies in a deal worth approx $81 billion ... Unocal agreed to trade its 28.57% interest in 3 producing fields in Yemen for Occidental's 50% ownership in 3 blocks in northeast Bangladesh ... Carpatsky Petroleum (Calgary) signed a letter of intent to merge with Pease Oil & Gas (Grand Junction, CO) ...
(5/26) ... AGA reported an injection of 73 BCF into the natural gas storage, representing an increase of 2.2% at 50.2% full ... the DOE reported crude stocks at 332.1 MMB, down 2.3 MMB from last week ... Blue Dolphin Energy (Houston, TX) agreed to acquire 75% ownership interest of American Resources Offshore including 20% interest in assets in the Gulf of Mexico for approx $33.8 million with cash and stock ... Anschutz Wyoming agreed to buy 8% of acreage position from Ultra Petroleum (Toronto) for approx $13.2 million ... Venus Exploration (San Antonio, TX) agreed to acquire oil and gas properties in the Vernon field, Louisiana with 19 producing gas well in 10,000 acres from Apache for approx $28.5 million ... Mobil Oil Australia planned to shut down its 70,000 B/D refinery in Port Stanvac, Adelaide for 12 days for maintenance service ...
(5/25) ... API reported crude oil stocks down 3.29 MMB, distillates stocks up 1.11 MMB, unleaded gasoline stocks up 0.77 MMB, and refinery capacity up 0.1% at 96.7% versus last week's ... Iraq formally renewed the oil-for-food deal with the U. N. for another six month to sell crude oil worth $5.26 billion ... Enridge Pipelines completed the repair on their crude oil pipeline from Alberta to Wisconsin ... 6,000 barrels were spilled on farm land due the break last week ... Deutsch Bank revised the NY Mercantil light sweet crude oil closing forecast at $16.00/BBL (from $14.75/BBL) for 1999 and $17.00/BBL for 2000 ... Ukraine and other countries still supplying crude oil to Yugoslavia despite worldwide appeal for a cutoff ...
(5/24) ... Marathon Ashland Petroleum LLC agreed to acquire convenient stores, jobber network, terminal facilities, and 400-mile pipeline in Michigan from Ultramar Diamond Shamrock ... the pipeline would be acquired by Wolverine Pipe Line later ... ... after the transaction, Ultramar Diamond Shamrock planned to close its 50,000-B/D refinery in Alma, Michigan ... Basin Exploration (Denver, CO) sold partial interests (from 25% to 50%) in 7 exploratory prospect leases in the Gulf of Mexico for approx $5.6 million ...
(5/21) ... Baker-Hughes reported U. S. rig count up 11 against last week at 518 (380 for gas and 138 for oil) versus last year's of 855 ... Canada's rig count down 1 at 47 versus 154 in last year ... BJ Services (Houston, TX) won the bid to purchase insolvent Calgary's Fracmaster at approx $54.8 million ... Williams Energy Services agreed to acquire 3 products and petrochemicals terminals in Louisiana and Texas from Amerada Hess ... Trico Southeast Petroleum agreed to acquire 40 retail outlets in Georgia and South Carolina from Amerada Hess ... Coastal Oil & Gas acquired various interests in 98 wells and acreage in south Texas, Louisiana, and Wyoming from Titan Exploration ... Enbridge Pipeline (Calgary) announced a shut down of their #3 pipeline from Edmonton, Alberta to Superior, Wisconsin due to a break in that 650,000 b/d line ...
(5/20) ... Devon Energy (Houston, TX) planned to acquire PennzEnergy with approx $675 million in stock swap while taking on $1.74 billion in debt and preferred stock ... Marathon International Hibernia Ltd agreed to acquire 18.5% interest in 2 licenses offshore western Ireland from Saga Petroleum Ireland Ltd ... Williams planned to acquire 33% interest in Lithuanian state-owned Mazheikiu Nafta oil concern for $150 million with an option to buy another 33% interest in seven years ... Mazheikiu Nafta began to shut down its refining operations due to a cut off in Russian crude supplies ...
(5/19) ... AGA reported an injection of 79 BCF into the natural gas storage, representing an increase of 2.4% at 48.0% full ... the DOE reported crude stocks at 334.5 MMB, up 0.5 MMB from last week ... R&B Falcon intended to take legal action after Petrobras cancelled a drilling contract for the semisubmersible Falcon 100 citing late delivery ... Hunt Oil's pipeline in Yemen to the Red Sea was blown up by Yemeni tribesmen who tried to get their government's attention to the area ... Dos Bocas, 502,000 B/D Mexico's oil port on the Gulf of Mexico, was totally shut down due to high winds ... the Pajaritos and Cayo Arcas ports are operating normally ...
(5/18) ... API reported crude oil stocks up 3.93 MMB, distillates stocks up 2.01 MMB, unleaded gasoline stocks down 4.28 MMB, and refinery capacity up 0.3% at 96.6% versus last week's ... BP Amoco began a full-scale shutdown through mid-June of their 200,000 B/D refinery near Lavera, southern France ... Quicksilver Resources (Fort Worth, TX) completed the acquisition of almost all Unocal's oil and gas assets in Michigan for approx $27 million plus stock ... ARXA International Energy aquired 40% interest in the Johns field, Rankin County, Mississippi, and a gas processing plant from Gulfport Oil & Gas for approx $10 million in notes, cash, and stock ...
(5/17) ... Prize Energy (Tulsa, OK) agreed to acquire Pioneer Natural Resources' interest in approx 400 oil and gas field for approx $215 million plus $30 million in stock plus yielding 32% equity to Pioneer ... Colombia pipeline was bombed again by leftist rebels causing a spill of 10,000 barrels into rivers which flow into western Venezuela ... Cross Timbers (Fort Worth, TX) agreed to acquire 50% of common stock of Spring Holding, a privately held oil company in Tulsa, OK, for cash and stock worth $85 million ... Lehman Brothers Holdings owns the other 50% ... Stone Energy completed the acquisition of 32% working interest in a portion of the Weeks Island field from Nuevo Energy for approx $5.7 million ...
(5/14) ... Baker-Hughes reported U. S. rig count up 2 over last week at 507 (365 for gas and 142 for oil) versus last year's of 876 ... AEC Acquisitions, a wholly owned subsidiary of UtiliCorp United (Kansas City, MO), acquired Aquila Gas (San Antonio, TX), a gas gatherer, processor, and marketer in Texas and Oklahoma ... Cypress Energy (Calgary) completed the acquisition of Canadian Conquest Exploration ...
(5/13) ... Coastal's 100,000-B/D refinery near Corpus Christi, TX caught fire causing the shut down of the reforming unit and the hydrocracker unit ... Plains Scurlock Permian, a newly formed limited partnership of Plains All American completed the acquisition of Scurlock Permian LLC from Marathon Ashland in a deal worth approx $146 million ... Columbia Natural Resources (Charleston, WV) acquired the interest of Wiser Oil in 487 oil and gas wells and 100,000 acre lease plus a gathering system in Kentucky and West Virginia for approx $28 million ... the DOE reported domestic production of 5.8 million barrels per day in April 1999 being the lowest level since 1950 and 18.4 MMB/D demand in April is lowest of that month in three years ... Apollo Management LP agreed to purchase the retail marketing operations from Clark USA, an independent oil refiner, for approx $230 million ...
(5/12) ... AGA reported an injection of 72 BCF into the natural gas storage, representing an increase of 2.2% at 42.5% full ... the DOE reported crude stocks down 2.4 MMB versus last week at 333.9 MMB ... Esenjay Exploration (Houston, TX) agreed to acquire 3DX Technologies with stock exchange ... Columbia Petroleum (Richmond, VA) completed the acquisition with Carlos R. Leffler Inc. for approx $60 million including the terminals and storage facilities as well as the wholesale and retail petroleum products distribution network in Pennsylvania, New York, Maryland, and Delaware ...
(5/11) ... API reported crude oil stocks down 2.30 MMB, distillates stocks up 0.17 MMB, unleaded gasoline stocks up 3.66 MMB, and refinery capacity down 1.1% at 96.3% versus last week's ... Dominion Resources offered $66.60 per share with stock and cash for Consolidated Natural Gas in a deal worth $6.4 billion creating the 4th largest domestic electric and natural gas utility company ... Royale Energy (San Diego, CA) announced their discovery well in the Sacramento Basin, CA, flow tested 3.8 MMCF/D from the Blossom Channel sand at 7,500 feet ...
(5/10) ... OPEC produced 26.24 MMB/day during April, representing a cut of 1.7 MMB/D or 85% of the total pledged production cut ... Norsk Hydro, Norwegian energy group, offered shareholders of Saga Petroleum, also of Norway, to trade 3 Saga shares for 1 Hydro share, representing a 35% premium ... Norwegian Ministry of Petroleum offered Mobil four exploration licences in Northern North Sea area with interest ranging from 20% to 50% ... Tesoro Marine Services agreed to purchase the marine fuels operations in the West Coast from BP Marine including facilities in Port Angeles, Los Angeles, Seattle, and Portland ...
(5/7) ... Baker-Hughes reported U. S. rig count up 11 against last week at 505 (371 for gas and 134 for oil) versus last year's of 845 ... Canada's rig count up 7 at 55 versus 154 in last year ... the catalytic cracking in Lyondell-Citgo's 265,000-B/D refinery in Pasadena, east of Houton, caught fire causing reduction of the crude throughput ... Enron terminated the sales talk of its 53.5% interest in Enron Oil & Gas to the unnamed third party ...
(5/6) ... Chevron could not sell its 25% ownership in 3 oil platforms at the Point Arguello field near Santa Barbara, California and decided to taper off the output of the 25,000 B/D field ... Harken Energy moved the headquarter from Dallas to Houston and signed the agreement to acquire the interest of International Rochester Energy (Calgary) in the Alcaravan and Miradores Association Contract in the Llanos Basin of Colombia ... GPU Inc. (Morristown, NJ), an utility holding company, agreed to acquire Transmission Pipelines Australia from the state government of Victoria for approx $675 million ... LL&E Algeria (a wholly owned subsidiary of Burlington Resources), Sontract, and Talisman (Algeria) BV announced their appraisal well in the Berkine Basin of Algeria flow tested 3,553 B/D and 5 MMCF/D from 2 intervals ...
(5/5) ... AGA reported an injection of 34 BCF into the natural gas storage, representing an increase of 1.1% and 43.0% full ... the DOE reported crude stocks down 2.1 MMB versus last week at 336.3 MMB ... the U. S. Government accepted bids totaling approx $105 million for 134 tracts in the northeast corner of the National Petroleum Reserve in Alaska ... Arco/Anadarko group won 93 tracts ... shareholders of Santa Fe Energy Resources and Snyder Oil approved the merger and agreed to have the new name of Santa Fee Snyder Corp. ... Meteor Industries, a Denver-based distributor of refined products, completed the acquisition of certain assets from Carroll Oil in a $1.1 million deal ...
(5/4) ... API reported crude oil stocks down 1.77 MMB, distillates stocks down 1.36 MMB, unleaded gasoline stocks up 2.24 MMB, and refinery capacity up 1.9% at 97.8% versus last week's ... Vastar Resources acquired the interest of Cross Timbers in the San Juan Basin of New Mexico for approx $29.5 million ... Arco Pipe Line and Pacific Pipeline System formed a joint venture in combining their systems to transport crude from the San Joaquin Valley and offshore to Los Angeles ... TransMontaigne (Denver, CO) offered to pay $66.8 million for the Hess Southeastern Pipeline Network including storages and facilities in Mississippi, Georgia, North Carolina, South Carolina, and Virginia ...
(5/3) ... Coastal Oil & Gas agreed to acquire properties in the Gulf of Mexico from Titan Exploration (Midland, TX) for approx $71.3 million ... North Central Oil (Houston, TX) purchased natural gas properties in the Los Mogotes field, Zapata County, TX from Petro-Hunt, LLC including 28 wells in 18,700 acres ... Azerbaijan International Operating Co. transfered the operatorship to BP Amoco who owns 34% interest in the consortium ... Kinder Morgan Energy Partners LP agreed to purchase Chevron's interest in the Plantation Pipe Line Co. for approx $124 million resulting in 51.17% to Kinder Morgan in a 3,144-mile pipeline system with a capacity of 600,000 B/D of petroleum products ...
(4/30) ... Baker-Hughes reported U. S. rig count up 6 against last week at 494 (368 for gas and 126 for oil) versus last year's of 876 ... Spain's Repsol offered to acquire 85.01% remaining ownership of Argentina's YPF for approx $13.4 billion or 25% more than stock quote of $44.78/share at the close of Thursday ... Argentina government already sold their 14.99% to Repsol in January at $38/share and would sell the remaining 5.3% ... Magnum Hunter entered an agreement to acquire the interest of Vastar Resources in 476 wells, a gas processing plant, and 2 gas gathering systems in Texas, Oklahoma, and Arkansas for approx $33.9 million ... Aviva Petroleum and Sharpe Resources terminated the discussion of their merger ... Duke Energy announced the sale of their 9,760-acre property (valued at $21.5 million) in the Jocassee Gorge area to the State of North Carolina for $8.5 million ...
(4/29) ... Apache signed an agreement with Shell Exploration & Production to acquire Shell's oil and gas assests in 22 producing fields and 16 exploration leases in the Gulf of Mexico for approx $715 million plus 1 million shares (worth $31.5 million today) ... Venezuelan President said that he did not intend to sell Venezuela's U. S. oil refining subsidiary Citgo nor its share in the German Ruhr Oel joint venture ... Tidelands Oil & Gas entered a joint venture with Falco Energy Service and CLECO Energy LLC in operating and managing the Carrizo Springs Gas Pipeline System ...
(4/28) ... AGA reported an injection of 5 BCF into the natural gas storage, representing a small increase and 41.7% full ... the DOE reported crude stocks down 3.5 MMB versus last week at 338.4 MMB ... Pioneer Natural Resources (Dallas, TX) planned to sell $500 million worth of properties in Texas ... also planned to complete 50 previously drilled wells and resume production in the Spraberry field in West Texas ... OPEC production cut amounted to 1.35 million B/D as promised in the first month of this round ... Highridge Exploration (Calgary) rejected the takeover unsolicited bid by Samson Canada ... Jubilee Resources (Calgary) agreed to acquire all of the outstanding shares of Kanata Resources, a privately held Calgary company, with stock ...
(4/27) ... API reported crude oil stocks down 4.74 MMB, distillates stocks up 0.25 MMB, unleaded gasoline stocks down 2.22 MMB, and refinery capacity down 1.4% at 95.9% versus last week's ... Tosco expected their Avon refinery in Martinez, California to start in 8 weeks .. the refinery caught fire on Feb. 23, 1999 and has been shut down since ... UTI Energy (Houston, TX) and Remy Capital Partners III agreed to purchase all assets of Fracmaster Ltd ...
(4/26) ... Exxon and Mobil signed contract to develop oil fields offshore Azerbaijan in the Caspian Sea, while Moncrief Oil International signed exploration and production sharing contract for onshore Azerbaijan ... UTI Energy (Houston, TX) agreed to acquire Norton Drilling Service including 15 drilling rigs for approx $13.6 million ... Samson Canada, a wholly owned indirect subsidiary of Samson Investment, planned to offer to buy all outstanding common shares of Highridge Exploration for approx $50.5 million ...
(4/23) ... Baker-Hughes reported U. S. rig count down 11 against last week at 488 (362 for gas and 126 for oil) versus last year's of 880 ... Conoco applied to open an office in Riyadh, Saudi Arabia ...
(4/22) ... NYMEX light sweet crude closing price is highest in 16 months ... 15 European Union members voted to put a voluntary embargo on oil and oil products to Yugoslavia except for humanitarian purpose ... American Energy Group (Houston, TX) signed a Letter of Intent to acquire Maverick Drilling ... Cheyenne Resources (Cheyenne, WY) acquired 24.5% working interest in the Caddo Pine Island field near Dixie, Louisiana currently with 5 gas wells from the Nacatoch at 800 feet ... Canada's Diaz Resources announced plan to merge with Brittany Energy and Uniglobe Ventures with stock purchase ...
(4/21) ... AGA reported an injection of 2 BCF into the natural gas storage, representing a small increase and 41.7% full ... the DOE reported crude stocks down 3.1 MMB versus last week at 341.9 MMB ... BP Amoco planned to merge with India's Chandra Asri Petrochemical Center with 50/50 ownership ... California, Alaska, Texas, Louisiana, Alabama, and Mississippi received a total of $65 million being the 13th of 15 annual installments for part of their share of royalties paid by offshore drilling ... Venezuela planned to shut down their 278,000 B/D and 400 MMCF/D output for at least 15 days after the gas pipeline in eastern Venezuela exploded ...
(4/20) ... API reported crude oil stocks down 2.06 MMB, distillates stocks down 2.46 MMB, unleaded gasoline stocks down 0.03 MMB, and refinery capacity up 0.5% at 97.3% versus last week's ... Superior Energy Services (Harvey, LA) agreed to acquire Cardinal Holding Corp. in a stock transaction worth $197 million creating a fully-integrated production services company in the Gulf of Mexico ... ONEOK and Costilla Energy terminated their plan of a strategic alliance which was based on Costilla acquiring oil and gas properties from Pioneer Natural Resources ... U. S. Crude (Colton, CA) announced the termination of the joint venture with Rainbow Production and the acquisition of a surety bond for all current and future property acquisition in Oklahoma ... Talisman Energy (Calgary) commenced production from the Ross field in the North Sea ...
(4/19) ... Chevron terminated the discussion with ARCO for the joint venture to combine their Permian Basin operations ... Plains All American Pipeline L.P. agreed to buy the West Texas Pipeline System of 98,000 B/D capacity including 400 miles of pipeline, storage, and facilities in West Texas and New Mexico Permian Basin from Chevron Pipe Line for approx $40 million ... Phillips Petroleum planned to shut its 310,000 B/D and 400 MMCF/D Ekofisk complex platform in the North Sea due to a leak in the gas cooling unit for about 2 weeks ... A blast followed by a fire at BP Amoco's 410,000 B/D refinery near Whiting, Indiana ... no injuries and the fire was extinguished ... Esenjay Exploration (Houston, TX) announced their well in Jefferson County, Texas production tested at 10.9 MMCF/D and 937 B/D from the Hackberry formation at 9,400 feet ...
(4/18) ... Columbia Energy Group offered to buy Consolidated Natural Gas for approx $6.7 billion with cash and stock ... in February, Dominion offered $6.3 billion but due to declining stock value, it is worth $5.5 billion ... the first tanker was loaded at Supsa, Georgia's Black Sea port, as crude was transported from Baku, the capital of Azeri, via the new Caspian pipeline ...
(4/16) ... Baker-Hughes reported U. S. rig count up 1 against last week at 499 (369 for gas and 130 for oil) versus last year's of 898 ... Wilpro, a consortium of Williams and Production Operators, a subsidiary of Schlumberger, signed a $400-million "PIGAP II" contract with Venezuela to design, construct, and operate the natural gas injection into the Santa Barbara oil field ...
(4/15) ... California gasoline price jumped 50 �/gal over a month, currently as high as $1.75 /gallon in San Francisco ... Costilla Energy could not close the deal with Pioneer Natural Resources (417 fields for approx $253.7 million) and paid one million shares (approx $2.1 million) to Pioneer to terminate the agreement ... Williams-led group agreed to acquire oil and gas properties in Wyoming, Utah, and North Dakota from MCN Energy Group for approx $165 million ... Unocal Canada Resources agreed to invest up to $175 million to acquire up to 46% of Calgary's Northrock Resources ... TransCanada PipeLines Ltd put up its US Gulf Coast midstream facilities and petroleum marketing units up for sale together with the earlier announced sale of its subsidary, Angus Chemical ... Harken Energy and International Rochester Energy announced production commencement from the Palo Blanco field in eastern Colombia initially with a production test of 400 B/D ...
(4/14) ... AGA reported an injection of 30 BCF into the natural gas storage, representing an increase of 1.0% over last week and 41.7% full ... the DOE reported crude stocks up 2.1 MMB versus last week at 345.0 MMB ... Iran and Russia agreed to cooperate on oil and gas exploration and development projects as well as in the area of petrochemicals ... France's Total SA plans to sell the Petrofina's 60,000-B/D refinery in Big Spring, TX and 2,650 gas stations in the U.S. Murphy Oil (El Dorado, Ark) planned to sell 60 stations mostly in Florida and Louisiana and to build 55 stations at Wal Mart sites ... Kellogg Brown & Root, a unit of Halliburton, agreed to acquire 6.45% interest in Chiyoda, a Japanese engineering and construction company ... Columbia Natural Resources (Charleston, WV) agreed to acquire the interest of The Wiser Oil Co. in approx 500 wells and 100,000 acres and a natural gas gathering system in Kentucky and West Virginia ...
(4/13) ... API reported crude oil stocks up 1.04 MMB, distillates stocks up 3.92 MMB, unleaded gasoline stocks up 3.07 MMB, and refinery capacity up 2.0% at 96.8% versus last week's ... Iran cut production by 121,000 B/D in March ... Phillips Petroleum acquired Australia's BHP's interest in the Bayu-Undan field and the Elang/Kakatua field in the Timor sea ... Castle Energy acquired AmBrit Energy, a subsidiary of Britain's United Energy Plc for approx $22 million ...
(4/12) ... Saudi Arabia cut contracted sales to European markets by 20 to 25%, much more than anticipated, toward the promise cut of 585,000 B/D ... NATO air strikes again hit Yugoslavia's biggest refinery at Pancevo near Belgrade ... Houton Exploration acquired varying working interests, from 25% to 100%, from ATP Oil & Gas in six Gulf of Mexico leases ... Woodside Petroleum Ltd (Perth) acquired News Corp. Ltd's 10% interest in the Kipper field and 23.55% interest in the Basker-Manta-Gummy field in the Bass Strait offshore Australia for approx $11.4 million ...
(4/9) ... Baker-Hughes reported U. S. rig count down 5 against last week at a all-time low of 498 (376 for gas and 122 for oil) versus last year's of 889 ... Russian President Yeltsin warned the U. S. and NATO that "Don't push us toward military action" relating to NATO attacks of Yugoslavia, then "Otherwise there will be a European war for sure and possibly a world war" ... Carole Rylander, Texas comptroller, did not expect oil price to stay at least at $15/BBL for 3 consecutive months before the end of the tax incentive on 9/30/99 ... Ultramar Diamond Shamrock shut down its 60,000-B/D refinery in Wilmington, CA due to problems in the catalytic cracker, which converts crude oil to gasoline ...
(4/8) ... Koch Midstream Services purchased the Plum Creek natural gas gathering in East Texas from Pioneer Natural Resources ... Columbia Petroleum agreed to acquire propane and petroleum products assets in Pennsylvania from Carlos R. Leffler, Inc. ... Chieftaine International (Dallas, TX) announced production commencement from their South Marsh Island Block 39 field in the Gulf of Mexico with an initial rate of 2,000 B and 3.2 MMCF per day from 2 wells ...
(4/7) ... AGA reported an injection of 2 BCF into the natural gas storage, representing no change over last week and 40.7% full ... the DOE reported crude stocks down 1.7 MMB versus last week at 342.9 MMB ... NATO air planes struck two refineries and storage facilities throughout Serbia ... Venezuela announced that they complied with the promised production cuts of 525,000 B/D by March 12 plus 125,000 B/D by April 1 ... Apache purchased additional interests in the East Spar and Harriet fields offshore western Australia and in 11 leases in the Gulf of Mexico from British-Borneo Oil & Gas for approx $80 million ... Weatherford International acquired Austoil Technology, based in New Zealand, with products for extended reach and long horizontal section drilling ...
(4/6) ... API reported crude oil stocks down 0.08 MMB, distillates stocks down 0.96 MMB, unleaded gasoline stocks down 0.56 MMB, and refinery capacity up 0.5% at 94.8% versus last week's ... France's Elf Aquitaine and Canada's Bow Valley Energy signed a $300 million deal with Iran to develop the offshore Balal field against U. S. sanction limit of $20 million per year ... Britain's Premier Oil dropped out due to financial reason ... Apache shut down its platform in the 18,000-B/D Stag field offshore northwest Australia due to tropical cyclone Gwenda ... Columbia Propane, a subsidiary of Columbia Energy Group (Herndon, VA) agreed to acquire all outstanding common stock of National Propane Partners L.P. ...
(4/5) ... Iraqi pipeline to Persian Gulf port of Mina al-Bakr reduced to 45% through put due to last weekend's allied bombing of 2 control stations ... the prior week, Iraqi oil export volume dropped 45% ... U. N. Security Council lifted sanctions against Libya after the two suspects in the Lockerbie bombing were delivered ... but the U. S. planned on keeping the sanctions ... Amerada Hess, Statoil, and Talisman Energy announced their discovery in the North Sea tested 3,950 B/D from the Lower Cretaceous Captain sands ...
(4/1) ... Baker-Hughes reported U. S. rig count up 1 over last week at 503 (382 for gas and 121 for oil) versus last year's of 875 ... Pioneer Natural Resources restructured the deal to sell Costilla Energy its oil and gas properties in 417 fields (mostly in Texas) for approx $253.7 million while reserving 8 fields to sell later ... Tosco (Stamford, CT) agreed to buy 137 retail gasoline and convenient store sites in the Southeast from BP Amoco while selling its sites in the Midwest ... Sunoco shut its 25,000-BPD hydrocracker unit in the Toledo, OH refinery due to catalyst pluggage ... Mobil shut its 22,000-BPD refinery in Torrance, CA after a leak was found in the alkylation unit ...

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