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IMPORTANT OIL & GAS NEWS

ARCHIVED OIL & GAS NEWS ... 1999

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(12/29) ...
AGA reported a withdrawal of 173 BCF from the natural gas storage, representing a decrease of 5.3% at 79.1% full ... the DOE reported crude oil stocks at 292.1 MMB, down 0.3 MMB, and distillates stocks down 5.8 MMB compared against last week's ...
(12/28) ... API reported crude oil stocks down 3.20 MMB, distillates stocks down 3.85 MMB, unleaded gasoline stocks down 0.41 MMB, and refinery capacity down 0.9% at 89.3% compared to last week's ... USA Express (Houston, TX) acquired 70 convenient stores/gas stations in Houston, San Antonio, Corpus Christi, and Central Texas from Ultramar Diamond Shamrock ... Toreador Royalty (Dallas, TX) acquired 50% of Lario Oil & Gas' interest in oil and gas properties in the Amazon Ditch and Terry fields, Finney County, Kansas for approx $5.5 million ... Petroglyph Energy (Hutchinson, KS) agreed to acquire oil and gas properties in the Uinta Basin, Utah from III Exploration, a wholly owned subsidiary of Intermountain Industries with stocks ... Kerr-McGee and Pendaries Petroleum announced the test from their discovery well in the Bohai Bay, China tested 2,483 B/D from 4 zones at 2,600 to 4,500 feet ...
(12/27) ... Iran oil minister said that OPEC producers were likely to stay with the production cut for another 3 to 6 months ... Clark USA's 80,000-B/D refinery south of Chicago caught fire after an explosion, no injury was reported and the fire was extinguished after one hour ... Mobil Produccion e Industrializacion de Venezuela announced production has begun from the Cerro Negro field in the Orinoco Belt with a rate of 60,000 B/D ...
(12/23) ... Baker-Hughes reported U. S. rig count at 799, down 18 compared to last week (634 for gas and 163 for oil) ... Canada's rig count at 404, down 46 compared to last week ... GPM Gas Corp agreed to purchase the capital stock of MidCon Products of New Mexico, a wholly owned subsidiary of Kinder Morgan for approx $20 million including the Big Eddy and Logans Draw natural gas gathering systems and 159 miles of pipeline ... Richland Petroleum (Calgary) acquired Moxie Petroleum with cash and stock then turned being Moxie Exploration, a subsidiary of Richland ...
(12/22) ... AGA reported a withdrawal of 116 BCF from the natural gas storage, representing a decrease of 3.6% at 84.1% full ... the DOE reported crude oil stocks at 292.4 MMB, down 0.8 MMB ... EXCO Resources (Dallas, TX) agreed to acquire the interest of Western Gas Resources in the Black Lake Unit and the Black Lake processing and treating facilities for approx $7.8 million ...
(12/21) ... API reported crude oil stocks down 0.20 MMB, distillates stocks down 2.57 MMB, unleaded gasoline stocks down 2.36 MMB, and refinery capacity down 0.6% at 90.2% compared to last week's ... Peoples Energy (Chicago, IL) acquired 50% interest in several coalbed methane gas producing properties in San Juan County, New Mexico from Koch Industries and Koch Exploration (Wichita, KS) for approx $47 million ... Swift Energy announced their discovery well onshore Taranaki Basin, New Zealand tested 1,525 B/D and 4.8 MMCF/D from the Tariki sand at 11,900 feet ... American International Petroleum Corp. (New York) signed a protocol to form a joint venture with Tyumen Oil Co. to develop the Licence 1551 gas field in Kazakhstan ...
(12/20) ... Southwestern Energy (Fayetteville, AR) announced a discovery well in Assumption Parish, Louisiana tested 8.7 MMCF/D and 300 B/D from the lowest of three Planulina sands at 14,800 feet ... Vintage Petroleum (Tulsa, OK) closed the transaction with Petrobras Internacional SA to acquire additional interest in Block 14, Block 17, and the Shiripuno exploration area in Ecuador for approx $18 million ... Allegheny Energy (Hagerstown, MD) agreed to acquired Mountaineer Gas Co. , the largest natural gas provider in West Virginia, for approx $323 million ...
(12/17) ... Baker-Hughes reported U. S. rig count at 815, up 2 compared to last week (638 for gas and 177 for oil) ... Canada's rig count at 450, up 53 compared to last week ... Spirit Energy Partners LP of UNOCAL agreed to acquired substantially all of the assets in the Gulf of Mexico from Tana Oil & Gas including 12 properties and 9 offshore platforms ... St. Mary Land & Exploration (Denver, CO) completed the acquisition of King Ranch Energy including properties in the Gulf of Mexico and the Gulf Coast then changed the name to St. Mary Energy Co. ...
(12/16) ... Duke Energy agreed to merge their gas gathering and processing with Phillips Petroleum's gas processing and marketing into a new company called Duke Energy Field Services which would be nation's largest midstream natural gas liquid business with 67 plants, 57,000 miles of pipeline with an output of 400,000 barrels of natural gas liquid per day ... Big West Oil LLC signed a letter of intent to acquire the Woods Cross Utah Refinery from Inland Resources ...
(12/15) ... AGA reported a withdrawal of 73 BCF from the natural gas storage, representing a decrease of 2.2% at 87.7% full ... the DOE reported crude oil stocks at 293.2 MMB, down 5.6 MMB ... Senator Murkowski, R-Alaska, chairman of the Senate Energy Committee urged President Clinton not to sell oil from the Strategic Petroleum Reserve as a mean to manipulate for lower oil prices ... Petroleum Development (Bridgeport, WV) acquired 100% interest in 53 producing wells in the D-J Basin, Colorado for approx $5 million ... Brigham Exploration (Austin, TX) announced a discovery well in the Home Run field, Brooks County, TX tested 7.3 MMCF/D and 300 B/D from the lowest interval of 4 Vickburg pays ... Meridian Resource (Houston, TX) announced a discovery well in the South Thornwell field flowing 17.5 MMCF/D and 540 B/D from the Marg Idio (Oligocene) sand at 11,700 feet ...
(12/14) ... API reported crude oil stocks down 7.16 MMB, distillates stocks down 3.96 MMB, unleaded gasoline stocks down 3.99 MMB, and refinery capacity down 1.1% at 90.8% compared to last week's ... Unocal agreed to merge its oil assets in the Permian and San Juan basins with Titan Exploration (Midland, TX) forming Pure Energy Resources, a $900 million publicly traded company ... Hanover Measurement Services Co. LP is newly formed by Hanover Compressor Co. to offer natural gas measurement management services ... Callon Petroleum (Natchez, MS) announced a discovery well in the South Marsh Island Block 261 flow tested 10.3 MMCF/D from 5,410 feet and 10.1 MMCF/D from 5,700 feet ...
(12/13) ... Marathon Ashland completed the acquisition of 179 convenience stores, branded wholesale and contract to 242 locations, 5 terminal facilities, and 400 miles of pipeline from Ultramar Diamond Shamrock ... Canadian Occidental, Kerr-McGee/Oryx Energy, PennZ Energy, Sun, Texaco and Union Pacific Resources agreed to pay $71 million to settle the lawsuit alleged that they underpaid royalties from federal and Indian lands ... Shareholders of Transocean Offshore approved the merger with Sedco Forex, the offshore contract drilling business of Schlumberger ... Esso Expl & Prod Nigeria and Shell Nigeria announced a deepwater discovery offshore Nigeria tested 2,800 B/D from 12,000 feet ...
(12/10) ... Baker-Hughes reported U. S. rig count at 813, up 17 compared to last week (653 for gas and 160 for oil) ... Canada's rig count at 397, up 21 compared to last week ... the U. N. Security Council voted to extend the oil-for-food program another six months allowing Iraq to earn $5.26 billion from crude sales, exports could resume next week ... several Class Action lawsuits representing security purchasers during May and December 1999 have been filed against Baker Hughes, Inc. for violation of accounting principles ... Unit Corp. and Questa Oil & Gas (both of Tulsa, OK) agreed to merged in a pooling of interests transaction ... Clark Refining terminated the plan to acquire the Wood River refinery from Equilon Enterprises LLC ...
(12/9) ... US Energy Secretary Bill Richardson said that "(oil) prices have been drifting into what I see as dangerously higher levels" ... Occidental Petroleum acquired the deep exploration rights from Chevron in 19,834 acres in the Buena Vista field adjacent to Occidental's Elk Hills field in Kern County, CA ... Geodyne Energy Inc. (Calgary) is the new name of Geodyne Technologies Inc. ...
(12/8) ... AGA reported a withdrawal of 69 BCF from the natural gas storage, representing a decrease of 2.1% at 89.9% full ... the DOE reported crude oil stocks at 298.8 MMB, down 0.7 MMB and gasoline stocks at 196.6 MMB, up 5.5 MMB from last week ... the International Energy Agency reported that world oil inventories were being drawn too rapidly, especially with Iraq's decision to halt export, which might cause outages of retail supply ... shortfall this December could be 5 million barrels per day ... Unocal Thailand announced their discovery well in the Arthit Project in Block 15A in the Gulf of Thailand tested from 35 zones totaling 41 MMCF/D and 1,657 B/D ...
(12/7) ... API reported crude oil stocks down 0.07 MMB, distillates stocks up 3.92 MMB, unleaded gasoline stocks up 8.70 MMB, and refinery capacity up 0.6% at 91.9% compared to last week's ... Exxon Mobil Corp. is officially the new name of Exxon ... BP Amoco PLC agreed to acquire Mobil's share in their joint European fuel business for $1.5 billion to take over control in 8,500 gas stations plus fuel pipeline serving London's Gatwick airport ... UTI Energy (Houston, TX) agreed to acquire dirlling assets of Schneider Drilling including three rigs and lots of used parts for $7.5 million ... El Paso Merchant Energy agreed to acquire Dynegy's Californa 11 gas-fired co-gen plants for approx $255 million ...
(12/6) ... Iraq rejected the one-week extension of the oil-for-food program from the U.N. and halted oil export two weeks ago, affecting 2.4 million barrels per day ... Esso Brasileira de Petroleo signed a Joint Venture Agreement with Petrobras for 20% interest in the deepwater block BFZ-2 ... it is the 7th block that they have interest in deepwater offshore Brazil ... 3TEC Energy Corp. is the new name for Middle Bay Oil Company (Houston, TX) ... Deer Creek Energy Ltd (Calgary) completed the acquisition of Athabasca Oil Sands Lease #24 from Talisman Energy, covering 49,400 acres under a low-pressure steam-assisted gravity dranage enhanced recovery ...
(12/3) ... Baker-Hughes reported U. S. rig count at 796, up 1 compared to last week (648 for gas and 148 for oil) ... Canada's rig count at 376, up 24 compared to last week ... Thai Oil's refinery fire was extinguished after 35 hours of burning, reported to resume normal operation in 8 days ... Repsol-YPF agreed to sell Repsol Exploracion UK (North Sea opation) to Kerr McGee for approx $555 million and created RYTTSA to concentrate its supply, trading, and shipping activities ...
(12/2) ... Tosco (Washington), a leading oil refining and marketing company, agreed to buy 1740 retail gasoline and convenience stores, the right to undeveloped sites, and a distribution terminal in Virginia from Exxon-Mobil for approx $860 million ... Blue Dolphin Energy (Houston, TX) completed the acquisition of 75% ownership of American Resources Offshore for approx $4.5 million ... Fidelity Exploration & Production (Bismarck, ND) acquired 80% of American Resources Offshore's property offshore Gulf of Mexico ... Thai Oil's 220,000-B/D refinery in Sri Racha would be shut down indefinitely after a major fire at its benzene storage tanks ...
(12/1) ... AGA reported an injection of 5 BCF into the natural gas storage, representing an increase of 0.1% at 92.0% full ... the DOE reported crude oil stocks at 299.5 MMB, down 4.4 MMB and gasoline stocks at 191.1 MMB, up 0.9 MMB from last week ... BP Amoco traded their Kinta and South Bokoshe gas gathering systems in LeFlore and Haskell Counties, Oklahoma for Enogex's Red Oak gas gathering system in Latimer County, Oklahoma ... Magnum Hunter Resources (Irving, TX) completed the acquisition of the Madill Gas Processing Plant from Dynegy Midstream Services ... Apache completed the acquisition of Shell Canada's properties in Alberta, British Columbia, and Saskatchewan Provinces for approx $517 million ... Vintage Petroleum (Tulsa, OK) announced a discovery in the the Cedar Point area of Galveston, Texas flowing 700 B/D and 11.5 MMCF/D from 11,000' Vicksburg ...
(11/30) ... API reported crude oil stocks down 3.56 MMB, distillates stocks up 1.68 MMB, unleaded gasoline stocks down 1.68 MMB, and refinery capacity up 0.7% at 91.3% compared to last week's ... two law firms filed class action suit agains Plains All American LP alleging misreprentation and false financial statements ... the Federal Trade Commission approved Exxon's acquisition of Mobil after almost one year of negotiation ... Toreador Royalty (Dallas, TX) agreed to acquire 50% of Lario Oil & Gas in properties located in the Amazon Ditch and Terry fields in Finney County, Kansas ... Middle Bay (Houston, TX) completed the acquisition of properties in east Texas, north Louisiana, Gulf Coast from a group of private sellers which were operated by Floyd Oil for $87 million plus 1.5 million shares ...
(11/29) ... Baker-Hughes reported U. S. rig count at 795, down 2 compared to last week (647 for gas and 148 for oil) ... Canada's rig count at 352, up 17 compared to last week ... the "Ijaw" ethnic Nigerian group issued an ultimatum to Texaco to close the facilities in the Nigerian Delta by December 2nd ... as the group demanded to have its director to be on the operation joint venture ... an oil trader employed by Plains All American Pipeline LP hedged against a fall in crude price costed the company approx $160 million since April ... caused the stock price plunged 47% to its all-time low, strapped the company for cash and in default of some credit arrangements forcing refinancing negotiation ... Chevron's 90,000-B/D pipeline south of New Orleans was closed last Wednesday due to a spill of 850 barrels ... Redstone Oil & Gas (Houston, TX) planned to divest substantially all assets including 226 properties in Anadarko Basin, Permian Basin, and East Texas ...
(11/26) ... the New York Mercantile Exchange energy trading was closed for Thanksgiving Thursday 11/25 and Friday 11/26 ... Tyumen Oil Co. won the auction bid for the Chernogorneft Unit of the bankrupt Sidanko Oil Co. ... BP Amoco owns 10% of Sidanko and wanted to settle the debt but Moscow gave the permission to put up for auction ... Mexico's port of Dos Bocas remained closed due to high wind and high sea affecting 502,000 B/D of heavy Maya crude, light Isthmus crude and extra light Olmeca crude ...
(11/24) ... AGA reported a withdrawal of 20 BCF from the natural gas storage, representing a decrease of 0.6% at 91.9% full ... the DOE reported crude oil stocks at 303.9 MMB, down 3.0 MMB and gasoline stocks at 190.2 MMB, down 1.3 MMB from last week ... Chevron's 68,000-B/D refinery near Pascagoula, Mississippi was shut down due to malfunction at the catalytic cracker unit ... Nabor Industries (Houston, TX) completed the acquisition of Pool Energy Services ... Drucker Industries was granted the "Commerciality" status by the Egyptian General Petroleum to produce two discovery wells on the West Gharib Block, onshore Gulf of Suez, Egypt ...
(11/23) ... API reported crude oil stocks down 2.07 MMB, distillates stocks down 3.48 MMB, unleaded gasoline stocks up 2.73 MMB, and refinery capacity up 0.1% at 90.6% compared to last week's ... Enron North America agreed to acquire Columbia Energy Services' wholesale energy marketing operation including gas storage inventory, most contracts for gas, power, storage, transportation and asset management ... Enron also will become the primary wholesaler to Columbia Energy Group and the primary buyer of Columbia Natural Resources' Appalachian production ... Exxon and Mobil offered to sell part of their 2,400 service stations in order to win the approval from the government for this merger ... Pioneer Natural Resources aquired 100% working interest in the Al Sur de la Dorsal (from Pan American Energy and Perez Companc) and in the Estacion Fernandez Oro (from Pan American Energy) ...
(11/22) ... NYMEX oil price closed at 8-year high ... Iraq announced to stop oil exports after they rejected a 2-week extension of the oil-for-food program from the U.N. Security Council ... Parallel Petroleum and Allegro Investment announced a successful Yegua well in Jackson County, TX calculated flow of 19.3 MMCF/D from 7,110 feet ... Beta Oil & Gas (Tulsa, OK) agreed to acquire Red River Energy for approx $23.5 million with stocks and assumed debts ... BG International Ltd agreed to acquire Tesoro's Exploration and Production operations in Bolivia for approx $100 million ... Apache and OMV announced their well offshore northwest Australia tested 1,595 B/D from 2,200 feet ... Apache and Chevron announced two wells in the Gulf of Mexico, one tested 29.5 MMCF/D and 252 B/D in the Ship Shoal 189 block, and one tested 2.1 MMCF/D and 3,124 B/D in the Main Pass 77 block ...
(11/19) ... Baker-Hughes reported U. S. rig count at 797, up 23 compared to last week (648 for gas and 149 for oil) ... Canada's rig count at 335, up 14 compared to last week ... Duke Energy Power Marketing and Trading Argentina SRL received licenses to trade and market electricity and natural gas in Argentina ... Hornet Energy Ltd and Alma Oil & Gas Ltd (Montreal) agreed to amalgamate into Hornet Energy Ltd. ... Kicking Horse Resources and KB Resources (Calgary) agreed to amalgamate ... in August 1999, Kicking Horse amalgamated with Taber Energy and GronArtic Resources ...
(11/18) ... Chevron agreed to pay $725 million to Occidental Petroleum to settle a 17-year old lawsuit involving Cities Services' (later acquired by Occidental) lawsuit against Gulf Oil (later acquired by Chevron) in 1982 ... Burlington Resources completed the acquisition of Poco Petroleum ... Adair International Oil & Gas (Houston, TX) signed a Letter of Intent to acquire Partners In Exploration (Dallas, TX) which will become Adair Exploration Co., a subsidiary of Adair ...
(11/17) ... AGA reported an injection of 9 BCF into the natural gas storage, representing an increase of 0.3% at 92.5% full ... the DOE reported crude oil stocks at 306.9 MMB, up 1.8 MMB and gasoline stocks at 191.5 MMB, down 4.0 MMB from last week ... Occidental Petroleum agreed to buy ARCO Long Beach, Inc. who owns THUMS, the operator of the Long Beach Unit ... PrimeEnergy (Stamford, CT) acquired additional interest in 131 oil and gas wells located in Oklahoma for approx $1.8 million ... Baker Energy (Houston, TX), a unit of Michael Baker Corp., was awarded a contract from El Paso Production Co. to operate 50 manned and unmanned oil and gas production facilities in the Gulf of Mexico ... Frontier Oil completed the acquisition of Equilon Enterprises LLC's 110,000-B/D refinery in El Dorado, Kansas for approx $170 million ...
(11/16) ... NYMEX light sweet crude price is at 34-month high ... API reported crude oil stocks down 2.49 MMB, distillates stocks down 0.93 MMB, unleaded gasoline stocks down 4.95 MMB, and refinery capacity at 90.5% up 0.8% compared to last week's ... Seitel Inc. (Houston, TX) filed with the Security Exchange Commission to spin off its wholly owned subsidiary DDD Energy to become Vision Energy ... Brazil's Petrobras joined Argentina's Perez Companc SA in buying 2 refineries in Bolivia with 35,000 B/D capacity for a tender of $102 million ... ELYO, the energy subsidiary of the Suez Lyonaise des Eaux Group, decided not to go forward with the proposal to acquire all of its majority-owned subsidiary, Trigen Energy Corp. (was for $22/share) ...
(11/15) ... Southern Union and Providence Energy announced plan to merge in a transaction worth $400 million ... earlier, Southern Union merged with Pennsylvania Enterprises on 11/4/99 and with Fall Rivers Gas on 10/5/99 ... Charger Energy and Extreme Energy (Calgary) planned to acquire all of the issued and outstanding shares of Titan Energy ... Exxon began to produce from the Sacate field, offshore California, from the first well which was drilled with a record lateral reach of 18,680 feet, producing 2,500 B/D ... Reliance Services (Calgary) agreed to acquire all of the shares of Zama Wireline Ltd for approx $2 million ... ABB Group (Zurich, Switzerland) acquired Danco Talleres Metalurgicos S.A., an Argentina' s valve and wellhead manufacturer ...
(11/12) ... Baker-Hughes reported U. S. rig count at 774, up 11 compared to last week (622 for gas and 152 for oil) ... Canada's rig count at 321, down 15 compared to last week ... Royal Dutch/Shell won the bid to develop the Soroush and Nowruz oil fields in Iran expecting to output 200,000 B/D ... Maynard Oil (Dallas, TX) acquired interests in 170 oil and gas properties in southeast New Mexico and west Texas from Questa Exploration and Production ... Samson Offshore (Houston, TX) purchased 81,800 net lease acres on 30 explanatory blocks in the Gulf of Mexico from Barrett Resources ... Samson is the operator on 12 of those blocks ... Yemen's main oil pipeline from the Marib oil fields was sabotaged by local tribesmen ...
(11/11) ... RealAmerica (Dallas, TX) agreed to acquire Caspian Sea Venture Corp. ... Suburban Propane LP (Whippany, NY) completed the acquisition of the retail propane assets from SCANA Corp (Columbia, SC), including SCANA Propane, USA Cylinder, and C&T Pipeline, for approx $95 million ...
(11/10) ... AGA reported an injection of 12 BCF into the natural gas storage, representing an increase of 0.4% at 92.2% full ... the DOE reported crude oil stocks at 305.1 MMB, up 0.4 MMB from last week ... Federal Energy Regulatory Commission voted to conditionally approve the merger of Dominion Resources (Richmond, VA) and Consolidated Natural Gas (Pittsburg, PA) ... Energy East (Albany, NY), a utility provider, agreed to acquire Berkshire Energy (Pittsfield, Massachuset) which would make it a wholly owned subsidiary, for approx $136 million ... Shell Offshore, McMoRan Exploration Spinnaker Operating began gas production from the Alex Prospect in the western Gulf of Mexico ... W&T Offshore (Houston, TX) completed the acquisition of Vastar's interest in 8 producing leases in the High Island, South Timbalier, and Main Pass area in the Gulf of Mexico ...
(11/9) ... API reported crude oil stocks up 3.10 MMB, distillates stocks down 4.23 MMB, unleaded gasoline stocks down 3.49 MMB, and refinery capacity at 89.7% down 0.7% compared to last week's ... Gulf Canada (Calgary) and Fina Resources (a subsidiary of TotalFina S.A.) agreed to joint up in the development of Gulf's Surmont oil sands and Kerrobert heavy oil projects ... PanCanadian (Calgary) agreed to acquire interests in the Scott and Telford oil fields in the UK Central North Sea from BP Amoco for approx $211 million ... SantaFe Snyder announced their 2nd discovery in the Pearl River Mouth Basin in the South China Sea testing from two zones totaling 3,850 B/D from 6,500 feet ... Corporate lending to oil and gas companies increased from $9 billion in the first quarter of 1999 to $16 billion in the second quarter to $19 billion in the third quarter ...
(11/8) ... Richland Petroleum (Calgary) agreed to acquire all of the issued and outstanding common shares and pre-paid flow-through warrants of Moxie Petroleum with cash and stock ... Sierra Pacific Resources (Nevada, UT) agreed to acquire Portland General Electric Unit from Enron for approx $3.1 billion with cash ... two years ago, Enron purchased the same unit for the same price ... Ferrellgas Partners (Liberty, MO) agreed to buy Thermo Gas, a subsidiary of The Williams Co. for approx $433 million, creating the largest US retail marketer of propane ... MarkWest Hydrocarbon (Denver, CO) completed the acquisition of a propane terminal in Lynchburg, Virginia from TransCanada Energy Marketing for approx $2 million ...
(11/5) ... Baker-Hughes reported U. S. rig count at 763, up 2 against last week (624 for gas and 139 for oil) ... Canada's rig count at 336, up 35 against last week ... The Hague, Netherlands government reported to allow the Royal Dutch/Shell and Exxon joint venture to drill for natural gas under the Waddenzee, a large mashland off the northern tip of The Netherlands ... First Energy (Akron, OH) acquired Belden Energy Services, a subsidiary of Belden & Blake (North Canton, OH), a company selling natural gas to retail customers in Ohio ... The Prospective Investment & Trading Ltd (Tulsa, Oklahoma) acquired interest in 203 properties in Louisiana, Mississippian, Montana ...
(11/4) ... KeySpan Energy (NY) agreed to acquire all comon stock of Eastern Enterprises approx $2.5 billion with cash, creating nation's largest natural gas provider in the Northeast ... Coastal (Houston, TX) acquired a natural gas processing plant near Edinburg, Hidalgo County, Texas from PG&E Gas Transmission-Texas ... Schlumberger Canada Ltd agreed to acquire all domestic and international assets and business of Secure Oil Tools at approx $41 million ... Daugherty Resources (Lexington, KY) completed the acquisition of 37 wells in Kentucky and Tennessee plus 3 wells in Louisiana from Environmental Energy (Irvine, CA) ...
(11/3) ... AGA reported an injection of 4 BCF into the natural gas storage, representing an increase of 0.1% at 91.8% full ... the DOE reported crude oil stocks at 304.7 MMB, up 3.7 MMB from last week ... The Houston Exploration Co. acquired 64% ownership in the West Cameron 587 field in the Gulf of Mexico with 2 producing wells and acreage for approx $21 million from an undisclosed seller ... Leviathan Gas Pipeline Partners (Houston, TX) announced its name changed to El Paso Energy Partners effective December 1st, 1999 ...
(11/2) ... API reported crude oil stocks up 1.38 MMB, distillates stocks down 1.92 MMB, unleaded gasoline stocks down 3.79 MMB, and refinery capacity at 90.4% up 1.5% versus last week's ... SEMPCO Energy (Port Huron, MI) acquired Pinpoint Locators, a service company for conventional and global positioning of pipelines, and also acquired ENSTAR Natural Gas, a natural gas distributor, and Alaska Pipeline, a natural gas tranmission company, for approx $290 million ... Core Laboratories (Houston, TX) and TomoSeis (CA), a company providing crosswell seismic service, agreed to merge ... Delta Petroleum completed the acquisition of 11 wells and acreage in New Mexico and Texas from Whiting Petroleum for approx $2.9 million ...
(11/1) ... Coast Energy Group (Sugarland, TX) acquired Lantern Petroleum (Midland, TX), a trucking and pipeline crude gatherer and marketer ... Discovery Investments (Malibu, CA) completed the acquisition of 7 gas stations/convenient stores in California and Arizona from ARCO for approx $9.5 million ... Leviathan Gas Pipeline Partners (Houston, TX) farmed out its 100% interest in the Ewing Bank Block 958 in the Gulf of Mexico to El Paso Production ... Energy Search completed the acquisition mineral rights plus 61 oil and gas wells from Mitchell Energy & Development for approx $2.1 million ... Apache announced an oil well discovery offshore northwest Australia flowing 5,940 barrels per day from 7,400 feet ...
(10/29) ... Baker-Hughes reported U. S. rig count at 761, up 11 against last week (623 for gas and 136 for oil) ... Canada's rig count at 301, up 9 against last week ... Williams International (Tulsa, OK) reached agreement with Lithuanian government to acquire 33% of Mazeikiu Nafta, the national oil company, for approx $150 million with operational control of the refinery, pipeline, and terminals ... PetroCanada put up for sale its 2 largest producing properties at Valhalle and Pembina together with other properties at Wapiti, Boundary Lake, and Marsden Luseland ... Carbon Energy (Alberta) completed the acquisition of Bonneville Fuels including interests in 290 wells and 150,000 acres in Colorado, Kansas, New Mexico, Texas, and Utah ...
(10/28) ... Drucker Industries (Vancouver) agreed to acquire 10% interest of Santa Catalina (Algeria) Ltd. which owned Santa Catalina L.H. Lundin (Algeria) who recently entered an agreement of acquire a 25% particitpating interest in the Hassi Bin Rekaiz Oil concession offshore Algeria ... Lithuania's Mazheikiu Nafta refinery company announced that its refinery was running out of crude oil supplied by Russia and would shut down ... Tulsa's Williams has planned to close the acquisition of Mazheikiu Nafta this week ... Russia's Sakhalin Energy resumed oil output from the Vityaz offshore Sakhalin Island in Russia's Far East (shut in during September) ...
(10/27) ... AGA reported an injection of 13 BCF into the natural gas storage, representing an increase of 0.4% at 91.7% full ... the DOE reported crude oil stocks at 301.0 MMB, up 0.3 MMB from last week ... Daugherty Resources (Lexington, KY) acquired 50% ownership in 24 gas wells in Knox City, Kentucky from Ken-Tex Oil & Gas with stocks ... Esso Norge AS began production from the Jotun field, 120 miles west of Stavanger, Norway ... CMS Energy (Dearborn, MI) followed up the discovery well in September, completed a development well just outside the city of Midland, Texas, flowing 10 MMCF/D and 500 B/D from a 5,400-foot horizontal leg at 11,600 feet ...
(10/26) ... API reported crude oil stocks up 3.42 MMB, distillates stocks down 2.97 MMB, unleaded gasoline stocks down 1.96 MMB, and refinery capacity at 88.9% down 1.0% versus last week's ...Burlington Resources (Houston, TX) agreed to acquire Atlantic Richfield's assets in the Vellano field, Ecuador and exploration properties in Colombia and Peru for approx $214 million ... Unocal and Mobil received approval to begin initial deepwater development activities offshore the Kalimantan island of Indonesia ... Reliant Energy Solutions (Houston, TX) agreed to acquire the assets of Southland Industries' Energy Service Division in Long Beach, CA ... Compagnie Generale de Geophysique (Paris) agreed to buy GeoSeismic, a marine seismic equipment manufacturer, for approx $67 million ...
(10/25) ... El Paso Energy and Sonat completed their $6-billion merger creating the largest natural gas pipeline system in North America with over 40,000 miles of pipeline ... Petrolera Argentina San Jorge, recently acquired by Chevron, announced the discovery well in the Rio Negro Norte block tested 3,880 B/D from 7,100 to 7,900 feet ... Hallwood Energy (Denver, CO) acquired 34 producing wells and acreage in the Yoakum George area of Lavaca County, Texas for approx $7.3 million ... Bershire Hathaway agreed to buy MidAmerica Energy Holdings Co., an international electricity and natural gas provider, for approx $9 billion in cash and debt ...
(10/22) ... Baker-Hughes reported U. S. rig count at 750, up 29 against last week (609 for gas and 141 for oil) ... Canada's rig count at 292, up 22 against last week ... Saudi Arabia, Kuwait and Venezuela considered a proposal for possible extension of production cut past March 2000 ... Vice President Al Gore vowed to ban all offshore drilling on the East and West coasts ... Phillips Petroleum shut down its 300,000-B/D production platform in the Ekofisk for one week to repair a gas leak ... Dynamic Oil & Gas acquired over 23,000 acres of contiguous Crown Petroleum and Natural Gas rights in the Orion area of northeast British Columbia in 3 separate drilling licenses ...
(10/21) ... AGA reported an injection of 42 BCF into the natural gas storage, representing an increase of 1.3% at 91.3% full ... Texaco agreed to acquire 45% interest in the Malampaya Deep Water Natural Gas Project from Shell Philippines Exploration ... Potomac Energy (Oklahoma City, OK) agreed to acquire the 10,000-B/D Jet fuel refinery in Thomas, OK from Dolphin Industries and 39 gas wells plus facilities in Eastern Oklahoma from Energas ... Esso Exploration Angola, Elf, BP, Fina, Den Norske and Norsk Hydro announced a deep water discovery offshore Angola tested 12,800 B/D ... Conoco closed its office at Baku, Azerbaijan ...
(10/20) ... the DOE reported crude oil stocks at 300.7 MMB, up 3.4 MMB from last week ... Occidental Petroleum began production from the new Idd el Shargi South Dome field offshore Qatar from the first of seven planned wells ... Columbia Metromedia Energy, a newly formed 50/50 joint venture between Columbia Energy and Metromedia Energy, to market retail energy and related services in the U.S. Northeast ... Esso Italiana and Italy's AGIP agreed to intergrate their adjacent refineries at Priolo ...
(10/19) ... API reported crude oil stocks up 0.33 MMB, distillates stocks up 1.41 MMB, unleaded gasoline stocks down 1.48 MMB, and refinery capacity at 89.9% down 3.2% versus last week's ... national average gasoline price at $1.293/gallon, highest since December 18, 1990 ... OPEC production in September averaged 26.432 million B/D, 209,000 B/D higher than August ... Cabot Oil & Gas (Houston, TX) announced a natural gas discovery in Westmoreland County, Pennsylvania, tested 9.2 million CF/BBL from Oriskany & Helderberg formations ... Mitchell Energy & Development completed the acquisition of Conoco's 50% ownership in the Jameson natural gas processing plant approx $24 million in cash ...
(10/18) ... Chevron restarted some oil installations in southern Nigeria after shutting down 5 flow stations last months due to unrests of local youths ... Global Energy (Cincinnati, OH) agreed to acquire Dynegy's Syngas gasification facility in Terre Haute, IN and the gasification technology ... Delta Petroleum (Denver, CO) agreed to acquire 11 producing wells and associated acreage in New Mexico and Texas from Whiting Petroleum for approx $2.9 million ...
(10/15) ... Baker-Hughes reported U. S. rig count at 721, down 21 against last week (579 for gas and 142 for oil) ... Canada's rig count at 270, down 19 against last week ... El Paso Energy planned to acquire Crystal Gas Storage with cash approx $153 million ... Canada's Hibernia (consortium of Mobil, Chevron, Petro Canada, Murphy, and Canada government) reported production reduced from 130,000 B/D down to 70,000 B/d after the fire on 10/5 on its production platform offshore St John's Newfoundland ...
(10/14) ... the DOE reported crude oil stocks at 297.3 MMB, down 7.2 MMB from last week ... Vanco Energy (Houston, TX) was awarded the first deepwater license "Daka Offshore Profond" covering 8 million acres offshore Senegal ... Beta Oil & Gas (Nesport Beach, CA) agreed to acquire Red River Energy LLC (Tulsa, OK) with stocks and assumption of debts ...
(10/13) ... AGA reported an injection of 49 BCF into the natural gas storage, representing an increase of 1.5% at 90.0% full ... US Senator Charles Schumer (D-NY) urged Energy Secretary Bill Richardson to sell oil from the Strategic Petroleum Reserves to lower heating oil and gasoline prices this winter ... Norway's Statoil Group announced plan to sell Statoil Energy, its US natural gas and electricity power production and marketing unit ... Del Roca Energy (Calgary) completed the acquisition of oil and gas properties in the Handsworth area, Saskatchewan and the Pembina area, Alberta for approx $2.8 million ... Petroleum Realty Investment Partners LP (Atlanta, GA) agreed to acquire 9 convenience gas stations in the Atlanta area from Fuel Marketing for approx $8.9 million ...
(10/12) ... API reported crude oil stocks down 7.14 MMB, distillates stocks down 0.99 MMB, unleaded gasoline stocks up 2.78 MMB, and refinery capacity at 93.1% up 0.6% versus last week's ... Coastal Field Services (Houston, TX) purchased an additional 27.9% interest in Mobile Bay Processing Partners including a gas processing plant and co-gen facility near Coden Alabama ... also purchased an additional 27.6% interest in Gulf Coast NGL Pipeline ... Texoil (Houston, TX) agreed to acquire 89% and operations in the Eloi Bay field, St Bernard Parish, Louisiana for approx $7.2 million ... Tradewinds Oil & Gas agreed to acquire Tracer Petroleum's (Calgary) assets in Indonesia including the Production Sharing Contract in the North Tanjung Block and a drilling ship ... Newport Petroleum (Calgary) announced a crude oil discovery in northern Alberta flowing over 10,000 B/D from the Slave Point Reef ...
(10/11) ... shareholders of Dynegy and Illinova approved the merger ... Davis Petroleum and Questa E&P announced a natural gas discovery 5 miles north of Eagle Bay field in Galveston bay producing 12 MMCF/D and 800 B/D from 12,400 feet ...YPF Ecuador, Overseas Petroleum & Investment, CMS Oil & Gas, Murphy Ecuador, and Canan Offshore announced the first horizontal well drilled in the Ginta field in the Oriente Region of Ecuador, flowing up to 17,750 B/D from 9,900 feet ... Vanco Energy (Houston, TX) received a farm-in from Lasmo PLC for a 60% interest in the Ras Tafelney permit offshore Morocco ... Vista Energy Resources (Midland, TX) and Prize Energy (Midland, TX) agreed to merge ...
(10/8) ... Baker-Hughes reported U. S. rig count at 741, up 11 against last week (599 for gas and 142 for oil) ... Canada's rig count at 289, down 4 against last week ... President Clinton considered selling crude oil from the Strategic Petroleum Reserves as means to moderate price ... OPEC member's production cut in September was only 81% of promised level ... Evergreen Resources (Denver, CO) acquired 17.5% royalty interest in 20,000 acres for coalbed methane gas in southern Colorado prostion of the Raton Basin for $2.5 million cash plus $2.5 million in stock ... Evergreen is the operator with 75% working interest ... EEX (Houston, TX) agreed to acquire Tesoro Petroleum's domestic exploration and production, mainly natural gas fields in south Texas and the Gulf Coast, for approx $216 million ... KCS Energy (Houston, TX) and Shana Petroleum acquired certain working interests and royalty interests in the Provident City field in Lavaca and Colorado Counties, TX from Shell Western E&P ...
(10/7) ... Middle Bay Oil (Houston, TX) agreed to acquire oil and gas properties and interests in Texas and Louisiana (managed by Floyd Oil) for approx $94 million ... North Coast Energy (Twinsburg, OH) acquired working interests and operations of approx 220 wells and gathering systems from Environmental Exploration (Canton, OH) for approx $3.5 million ... U.S. Crude (Colton, CA) formed a joint venture with Allied Energy (West Virginia) to utilize the Thermal Gas Repressurizing technology in existing stripper wells ... Mobil North Sea Ltd, Repsol, Enterprise Oil, Amerada Hess, and OMV announced first oil production from the Buckland field in the northern North Sea initially at 16,000 B/D ...

(10/6) ... AGA reported an injection of 62 BCF into the natural gas storage, representing an increase of 1.9% at 88.5% full ... the DOE reported crude oil stocks at 304.5 MMB, down 0.4 MMB from last week ... Triton Energy (Dallas, TX) announced a discovery in the La Ceiba field in the Equatorial Guinea with a flow test of 12,401 B/D from 9,700 feet ... Trans-Dominion Energy (Calgary) and Madison Oil (Dallas, TX) agreed to merge into Madison Energy Corp. ... Esso Norge began oil production from the Balder field in the Norwegian North Sea ... Shell Offshore, BP Amoco, Conoco, and Exxon announced the daily production record from their A-7 well in the Mississippian Canyon Block 809 with 39,317 BBLS and 60.67 MMCF for an equivalent of 50,150 Barrels ...
(10/5) ... API reported crude oil stocks up 1.00 MMB, distillates stocks down 1.50 MMB, unleaded gasoline stocks down 0.59 MMB, and refinery capacity at 92.5% up 0.5% versus last week's ... Apache agreed to acquire assets of Shell Canada in Alberta, British Columbia, and Saskatchewan for approx $524 million ... DTE Energy agreed to acquire MCN Energy in a deal worth $4.6 billion ... Delaney Energy Services (Calgary) purchased all outstanding shares of MJB Wireline Services for approx $1.25 million with cash and stocks ... Deepwater Holdings LLC, a 50/50 joint venture between Leviathan Gas Pipeline Partners and ANR Pipeline, was formed to own and operate 4 natural gas pipeline systems and facilities in the Gulf of Mexico ... Sunoco completed the acquisition of Pride Refining's crude transportation and marketing business including 800-mile pipeline system and 800,000-barrel tankage ...
(10/4) ... Ingersoll-Rand agreed to buy Dresser Industries' 49% ownership in the Dresser-Rand joint venture for $595 million and 51% ownership in the Ingersoll Dresser Pump joint venture for $515 million, which give Ingersoll-Rand full ownership in both ... Unico (Stamford, CN) acquired Silver Valley Energy including the oil and gas assets in Pecos County, Texas ... Tereador Royalty (Dallas, TX) acquired various mineral and royalty interests in over 200 wells and 100,000 acres in Arkansas, California, Kansas, and Michigan for approx $3.2 million ... KN Energy sold its 50% interest in Stingray Pipeline Co. and its 50% interest in West Cameron Dehydration Co. for approx $24 million ...
(10/1) ... Baker-Hughes reported U. S. rig count at 730, up 10 against last week (597 for gas and 133 for oil) ... Canada's rig count at 293, up 17 against last week ... Iraq Parliament urged OPEC to consider further production cut as they said $33.71/BBL should be the "reasonable" crude price ... Penn West Petroleum Ltd (Calgary) completed the acquisition of oil and gas assets including the Drayton Valley and Willes Green areas of Alberta and the Hoosier area of Saskatchewan from BP Amoco for approx $540 million ... Unocal Thailand announced the discovery of crude oil for the first time in the Gulf of Thailand with a 3,152 B/D test ...
(9/30) ... Unit Corp (Tulsa, OK) closed the acquisition of 12 land drilling rigs from Parker Drilling (Tulsa, OK) for approx $40 million plus 1 million shares of common stock ... Great Lakes Energy Partners LLC is a newly formed 50/50 joint venture between Range Resources (Fort Worth, TX) and FirstEnergy (Akron, OH), would be one of the largest oil and gas producers in the Appalachian Basin ... KeySpan Energy Development completed the acquisition of Richland Petroleum's (Calgary) interest in the Paddle River gas plant and gathering system ... Talisman Energy agreed to acquire Elf Aquitaine's interest in several central North Sea fields including Piper, Claymore, Saltire, Scapa, and Chanter ...
(9/29) ... AGA reported an injection of 79 BCF into the natural gas storage, representing an increase of 2.4% at 86.6% full ... the DOE reported crude oil stocks at 304.9 MMB, up 4.3 MMB from last week ... to approve the BP Amoco - Arco merger, the European Commission wanted BP Amoco to sell Arco's Thames pipeline, Hewett pipeline, and Caister-Murdoch pipeline and Arco's share in the gas processing plant at Bacton ... Exxon must sell its 28% ownership in the German gasoline station chain Aral as a condition by the European Union in Exxon's acquisition of Mobil ... Talon International Energy Ltd (Radnor, PA) is the new name of Canadian Talon Resources, Ltd. ...
(9/28) ... API reported crude oil stocks down 3.66 MMB, distillates stocks up 1.53 MMB, unleaded gasoline stocks down 0.50 MMB, and refinery capacity at 92.0% down 1.1% versus last week's ... El Paso Energy agreed to sell its East Tennessee Natural Gas and Sea Robin Pipeline as well as Sonat's one third interest in Destin Pipeline as divesture before the $4 billion merger with Sonat ... Canadian Forest Oil Ltd and The Anschutz Corp. formed a joint venture to explore an area over 1.6 million acres in the Yukon Territory and the Northwest Territories of Canada ... Amoil Resources (Calgary) and Westlinks Resources agreed to swap oil and gas properties and acreage including the Sylvan Lake assets and the land at Strachan and Carolina Alberta ...
(9/27) ... Chevron completed the acquisition of Petrolera Argentina San Jorge, a major oil and gas exploration and production and the second largest oil exporter in Argentina ... Anax International Agencies, operator of the Liberian-registered M/T Command, agreed to pay $9.4 million to settle criminal charges from spilling 3,000 gallons of oil into the Pacific Ocean in September 1998 ...
(9/24) ... Baker-Hughes reported U. S. rig count at 720, up 17 against last week (580 for gas and 140 for oil) ... Canada's rig count at 276, up 3 against last week ... the U.S. Department of Energy announced that they were not planning on selling oil from the Strategic Petroleum Reserve as heating oil supplies are acceptable ... Phillips Petroleum planned to sell its natural gas gathering, marketing, and processing subsidiary and focus on exploration and production ... which might spur off the merger potential with Chevron ... Miller Petroleum (Huntsville, TN) agreed with Tengasco to acquire up to 20 drill sites in the Swan Creek field, Hancock County, Tennessee ...
(9/23) ... the U.S. Department of Energy Secretary said that he was "seriously" considering a proposal to sell crude oil from the Strategic Petroleum Reserve in order to relieve the high cost of heating oil ... BP Exploration (Alaska) entered a plea agreement to pay a total of $22 million to settle the charges on Doyon Drilling, one of BP's drilling contractors, for dumping waste oil, paint thiner, solvents and other chemicals into oil shafts at the Endicott field ... Doyon paid $1 million fine ... Ventus Energy (Calgary) agreed to acquire certain oil and gas properties in the Rainbow/Boyer area in northwest Alberta and in the Hobbema area in central Alberta for approx $55.8 million ...
(9/22) ... AGA reported an injection of 78 BCF into the natural gas storage, representing an increase of 2.4% at 84.2% full ... the DOE reported crude oil stocks at 309.2 MMB, up 0.2 MMB from last week ... Phillips Petroleum acquired 50% ownership interest in Yates Petroleum's coalbed methane gas acreage in Wyoming's Powder River Basin including 90 wells and 340,000 acres ... currently Phillips has 230 coalbed methane gas wells in New Mexico's San Juan Basin producing 350 MMCF/D ... Australia's Nido Petroleum agreed to acquire from U.S.-based Mondo Group an option for up to 40% interest in the Zhongyuan Redevelopment Project onshore oil field south of Bejing ...
(9/21) ... API reported crude oil stocks down 0.80 MMB, distillates stocks up 0.49 MMB, unleaded gasoline stocks down 1.49 MMB, and refinery capacity at 93.1% down 0.3% versus last week's ... Occidental Petroleum was awarded the license from the Colombia government to explore for oil next to U'wa Indian land near the Colombia-Venezuela border ... Enervest Management acquired oil and gas properties in the Appalacia region from Cabot Oil & Gas for approx $44.62 million ... CrowJoule Exploration (Calgary) completed the acquisition of the first of two asset acquisitions in the Sylvan Lake area of Alberta for approx $3.8 million ... Brazil's Petrobras announced the discovery of a 600 - 700 MMB oil field in the deep water Santos Basin ...
(9/20) ... Coastal Oil & Gas (Houston, TX) exchanged its properties in Gaines county, Texas and the Green River Basin, Wyoming with Santa Fe Snyder's acreage in Utah and properties in the Jeffress field in south Texas and six offshore blocks in the Gulf of Mexico plus $18 million ... Koch Exploration Canada Ltd planned to sell its lands in the areas of Cold Lake, Alberta and LLoydminster on the Alberta-Saskatchewan border covering 590,000 acres and 10,500 B/D representing most of Koch's production ... ELYO, an energy subsidiary of Suez Lyonnaise de Eaux Group, proposed to acquire the remaining 47.3% shares (that it does not own) of Trigen Energy (White Plains, NY) ... Enterprise Products Partners LP (Houston, TX) completed the acquisition of Tejas Natural Gas Liquids LLC from Tejas Energy, LLC ...
(9/17) ... Baker-Hughes reported U. S. rig count at 703, up 13 against last week (570 for gas and 133 for oil) ... Canada's rig count at 273, up 6 against last week ... the Gulf Cooperation Council (Saudi Arabia, Kuwait, United Arab Emirates, Qatar, Oman, and Bahrain) pledged to keep the production cut promises through March 2000 ... Samedan Oil signed the agreement to sell their properties in California, Louisiana, New Mexico, Oklahoma, Texas, and Wyoming for approx $49.6 million ... Suncor Energy (Ft McMurray, Alberta) planned to shut down its oil sands operations for approx 10 days for maintenance repairs ... CMS Oil & Gas announced natural gas discovery just outside the city of Midland, TX in a horizontal well tested 5.7 MMCF/D and 200 B/D from 11,600 feet Devonian ...
(9/16) ... NYMEX light sweet crude price highest since January 21, 1997 at $24.24/BBL ... Exxon's purchase of Mobil might not be completed by this month as the Federal Trade Commission is demanding that more gas stations needed to be divested ... Cross Timbers Oil (Fort Worth, TX) and Lehman Brothers Holdings completed the acquisition of Arkoma Basin properties from Ocean Energy for approx $231 million ... Weatherford International acquired Williams Tools (Ft Smith, AR), a manufacturer of underbalanced pressure controls, for approx $64 million with stock ...

(9/15) ... AGA reported an injection of 81 BCF into the natural gas storage, representing an increase of 2.5% at 81.8% full ... the DOE reported crude oil stocks at 309.0 MMB, down 4.3 MMB from last week ... Cross Timbers Oil (Fort Worth, TX) sold interests in 2,800 wells for $63.5 million then used $44 million to buy out Lehman Bros Holding Inc.'s 50% interest in Spring Holding Co. ... Infinity (Chanute, KS) acquired 100% interest in 4,775 acres in the Green River Basin, WY, now has interest in 20,600 acres for the coal bed methane gas ... Power Direct (Bellingham, WA) acquired the assets of Rising Phoenix Development Group with main asset being the 6,300- acre LAK Ranch project in Wyoming's Powder River Basin ... Big Horn Resources (Toronto) acquired all of the assets of Edinburgh Resources with properties in the Balzac Crossfield area, north of Calgary for approx $1.7 million ...
(9/14) ... API reported crude oil stocks down 1.30 MMB, distillates stocks up 2.42 MMB, unleaded gasoline stocks down .58 MMB, and refinery capacity at 93.4% down 1.2% versus last week's ... Coastal and BP Amoco shut down their terminals at Cape Canaveral and at Port Everglades as a precaution against Hurricane Floyd ... Attranso, the owner of the S/T American Trader that spilled more than 400,000 gallons of oil off the Huntington Beach area, California, agreed to settle for $16 million ... Elf Hydrocarbures Algerine agreed to acquire 40% of Arco El-Djazair's interest in the Production Sharing Contract covering the Rhourde El Baguel field ... Talisman Energy (Calgary) started producing oil from the Orion field ...
(9/13) ... Elf Equitain announced that their offer for Total Fina was "no longer necessary" and agreed to merge with Total creating the fourth largest oil company in the world after Total increased the offer to $54.2 billion ... Del Roca Energy (Calgary) agreed to acquire oil and gas properties in southeast Saskatchewan for approx $2.8 million ... Bargo Energy (Houston, TX) acquired interest in oil and gas properties and an oil transportation contract in the East Texas field from Arco for approx $16 million ... Toreador Royalty (Dallas, TX) agreed to purchase mineral, overriding interest, and royalty interests in over 200 wells and 100,000 acres in Arkansas, California, Kansas, and Michigan for approx $3.2 million ...
(9/10) ... Baker-Hughes reported U. S. rig count at 690, up 19 against last week (561 for gas and 129 for oil) ... Canada's rig count at 267, down 14 against last week ... the International Energy Agency reported world oil production averaged 73.15 MMB/D and projected global demand for crude to increase 2.43 MMB/D while supply to gain only 1 MMB/D in the fourth quarter ... Kinder Morgan Energy Partners (Houston, TX) completed the acquisition of the tranmix processing plants in Richmond, Virginia and Dorsey Junction, Maryland from Primary Corp. ... Mitchell Energy & Development agreed to acquire from Conoco 50% interest in the processing plant in Coke County, Texas together with a 2,600-mile natural gas gathering system ...
(9/9) ... the DOE reported crude oil stocks at 313.3 MMB, down 4.5 MMB from last week ...OPEC oil ministers are to meet on September 22, 1999 in Vienna ... Barrett Resources (Denver, CO) signed a $24-million contract with Perupetro to explore a concession in Peru's northern jungle ...
(9/8) ... AGA reported an injection of 66 BCF into the natural gas storage, representing an increase of 1.7% at 79.3% full ... API reported crude oil stocks down 5.97 MMB, distillates stocks down 0.22 MMB, unleaded gasoline stocks up 0.63 MMB, and refinery capacity at 94.6% up 1.2% versus last week's ... IPE's Brent crude closing price is highest in 31 months ... PetroQuest Energy (Lafayette, LA) acquired Phillips Petroleum's interest in the Valentine salt dome field in southern Louisiana, now owns 95% interest in the project ... Rio Bravo Energy (Corpus Christi, TX), a joint venture between Tidelands Oil & Gas and Hudson SVD, finalized the negotiation to acquire the Chittim Ranch Gas Processing Plant in south Texas from Conoco ...

(9/7) ... Superior Energy Services (Harvey, Louisiana) agreed to merge with Production Management Companies, which will become a wholly owned subsidiary of Superior ... Marathon Petroleum Gabon and Santa Fe Energy Resources started production from the Tchatamba South field located offshore Gabon with 22,000 B/D from 2 wells ...
(9/3) ... Baker-Hughes reported U. S. rig count at 671, up 3 against last week (549 for gas and 122 for oil) ... Canada's rig count at 281, down 1 against last week ... Unocal Thailand began production from the Trat field in the Gulf of Thailand with 70 MMCF/D and 2,100 B/D of condensate from 5 wells ... Ventus Energy (Calgary) completed the acquisition of all of the issued and outstanding common shares of Talon Petroleum for approx $5.8 million ...
(9/2) ... Weatherford International agreed to acquire Petroline WellSystems, a completion service company in Aberdeen, Scotland for approx $165 million in stock and cash ... Sapient Energy (Tulsa, OK) completed the acquisition of the interest in 125 oil and gas wells in the Sooner Trend area of western Oklahoma from Chesapeake Energy (Oklahoma City, OK) ... Meteor Industries (Denver, CO) agreed to acquire the outstanding stock of Jardine Petroleum, a petroleum distributor in Utah and surrounding states ...
(9/1) ... AGA reported an injection of 69 BCF into the natural gas storage, representing an increase of 2.2% at 77.6% full ... the DOE reported crude oil stocks at 317.8 MMB, up 0.6 MMB from last week ... Shenandoah Energy (Denver, CO) agreed to acquire oil & gas assets in the Red Wash, Wonsits Valley, Gypsum Hills, and Brennan Bottom Unit in Utah from Chevron in exchange of ownership interests in the company and cash ... Tom Brown Inc. (Denver, CO) acquired producing properties and 34,000 acres in Sweetwater County, Wyoming in the Greater Green River Basin for approx $7.7 million ... Prospective Investment and Trading Co (Tulsa, OK) completed the acquisition of interests in 17 gas wells in Caddo and Grady Counties, OK from Chevron ...

(8/31) ... API reported crude oil stocks up 2.57 MMB, distillates stocks down 0.30 MMB, unleaded gasoline stocks down 2.93 MMB, and refinery capacity at 93.4% down 1.9% versus last week's ... the U.S. supported Iraq's donation of $10 million worth of oil to Turkey, with the U.N. reviews and authorizes the plan ... FirstEnergy (Akron, Ohio) agreed to acquire the retail natural gas business from Volunteer Energy, LLC, a wholly owned subsidiary of Williams ... Southwestern Energy (Fayetteville, Arkansas) agreed to acquire producing properties in west Texas and southeast New Mexico from Petro-Quest for approx $9.2 million ... Kismet Energy (Bakersfield, CA) and Energas announced a natural gas discovery in the Kinta field of the Arkoma Basin tested for 1.5 MMCF/D from the Spiro A zone ...
(8/30) ... NYMEX light sweet crude closed above $22/BBL, first time since January 1997 ... Sudan began the first crude oil exports from its Red Sea port city of Bashayir ... Phillips Petroleum's 48,000-B/D refinery shut down last week ... Sunoco's 78,000-B/D refinery in Toledo, Ohio was shut down due to a fire over the weekend ... Mobil's refinery in Chalmette, Louisiana was shut down for repair, affecting 70,000-B/D throughput ...
(8/27) ... Baker-Hughes reported U. S. rig count at 668, up 23 against last week (550 for gas and 118 for oil) ... Canada's rig count at 282, up 20 against last week ... Saudi Arabia, Venezuela, and Mexico announced that they would keep the production cut through the end of March next year ... Iraq planned to pump more oil to aid victims of last week's earthquake in Turkey ... Brazil's Petrobras formed a joint venture with Royal Dutch / Shell, Elf, and Enterprise Oil to explore in the deep water offshore Campos Basin ... Westlinks Resources agreed to acquire oil and gas properties in the Sylvan Lake field from Amoil Resources (Edmondton) ...
(8/26) ... Texaco and Shell planned to swap 19 Texaco service stations in Poland for 25 Shell service stations in the UK ... there were only 177 bids valued at $94.6 million taken for western Gulf of Mexico oil leases compared against last year's of 486 bids and $553 million ... Charger Petroleum (Calgary) completed the acquisition of 80% interest in 3 leases covering 16,000 acres in Val Verde and Edwards Counties, Texas near the East Vinegarone field then granted Black Tusk Energy (Vancouver) an option to buy in 40% ...
(8/25) ... AGA reported an injection of 50 BCF into the natural gas storage, representing an increase of 1.5% at 75.4% full ... the DOE reported crude oil stocks at 317.2 MMB, down 4.6 MMB from last week ... Calpine (San Jose, CA) agreed to acquire Sheridan Energy (Houston, TX) of mostly gas properties in northern California and the Gulf Coast for approx $41 million cash ... Husky Oil Operations Ltd agreed to acquire the interest of Denison Mines Ltd in the White Rose field on the east coast of Newfoundland for approx $10 million ... Double Eagle Petroleum & Mining (Casper, WY) acquired the assets of KCS Mountain Resources (Houston, TX) in the Cow Creek field and the Whiskey Butts field in Wyoming ...
(8/24) ... API reported crude oil stocks down 4.07 MMB, distillates stocks up 3.14 MMB, unleaded gasoline stocks down 0.20 MMB, and refinery capacity at 95.3% down 0.4% versus last week's ... Unocal started production of 165 MMCF/D from the Prailin field in the Gulf of Mexico ... German Economics Ministry announced the plan to auction off 4.5 million tonnes of crude oil from its strategic curde reserve ... Italy's ENI acquired 34% ownership in the Macaroni field and 37% ownership in the Europa field in the Gulf of Mexico from a unit of Royal Dutch/Shell Group ...
(8/23) ... Talisman (Calgary) agreed to offer a bid to Rigel Energy with cash and stock worth $1.2 billion including $330 million debt ... Resource America (Philadelphia) agreed to acquire the stock of Viking Resources (North Canton, OH), and energy and energy finance company, with cash and stock ... Harken acquired Xplor Energy (The Woodlands, TX) with stock including gas properties on the coast of Texas and Louisiana ... Mobil North Sea, Repsol, Enterprise Oil, Amerada Hess, and OMV announced first production from the Buckland field in the North Sea with a rate of 16,000 B/D ...
(8/20) ... Baker-Hughes reported U. S. rig count at 645, up 18 against last week (531 for gas and 114 for oil) ... Canada's rig count at 262, down 15 against last week ... U. S. average price for unleaded gasoline at $1.31/gallon versus 1998 at $1.10/gallon and 1997 at $1.32/gallon ... the U. N. Children's Fund reported that Iraqi children mortalily rate has more than doubled under the 9 years of economic santions ... the Tupras refinery fire at Izmit, Turkey was finally put out ...
(8/19) ... Anadarko retained Madison Energy Advisors to market its oil and gas properties and gathering system in the Texas Panhandle including 70 wells in the Hemphill field and the Hemphill pipeline ... Exxon suspended the preparation for drilling at the Sakhalin-I oil field after the Russian government rejected the drilling mud and chemicals plans ...
(8/18) ... AGA reported an injection of 51 BCF into the natural gas storage, representing an increase of 1.6% at 73.9% full ... the DOE reported crude oil stocks at 321.8 MMB, down 1.6 MMB from last week ... Tupras' 226,000-B/D refinery in Izmit, Turkey, was still on fire in the third day after the earthquake ... Sudan People's Liberation Army threatened to halt Sudan's 150,000-B/D oil production ... Novus Petroleum Ltd agreed to acquire the last remaining interest of Gulf Canada Resources Ltd in Gulf (Australia) Resources NL including the assets in the Cooper Basin for approx $76.4 million ...
(8/17) ... API reported crude oil stocks down 3.25 MMB, distillates stocks up 2.28 MMB, unleaded gasoline stocks up 0.34 MMB, and refinery capacity at 95.7% up 0.7% versus last week's ... Bargo Energy (Houston, TX) agreed to acquire Arco's East Texas assets for approx $16 million including ownership in 40 leases, a waterflood unit, royalty as well as a transportation contract ... Devon Energy and PennzEnergy completed the merger ...
(8/16) ... Burlington Resources agreed to acquire Poco Petroleum Ltd. (Canada) for approx $2.5 billion with stock while assuming $750 debt in becoming the 4th largest natural gas producer in North America ... Denbury Resources (Dallas, TX) agreed to acquire 99% working interest in a Carbon Dioxide flood project in southwest Mississippi for approx $13.25 million ... MDU Resources Group (Bismarck, ND) agreed to acquire Loy Clark Pipeline, a distributor of natural gas in the Pacific Northwest, with stock ... CLX Energy (Denver, CO) completed the acquisition of 7 wells and 20,000 acres in the Douglas Creek Arch area of the Piceance Basin in northwest Colorado from Cabot Oil & Gas for approx $1.9 milion ...
(8/13) ... Baker-Hughes reported U. S. rig count at 627, up 11 against last week ... Canada's rig count at 277, up 22 against last week ... Texaco Overseas Petroleum Co. of Nigeria, a joint venture between Texaco and Chevron, declared force majeure and ceased production from its 50,000-B/D platform offshore Nigeria due to civilian blocking supplies ... Unit Corp. (Tulsa, OK) agreed to purchase the domestic onshore assets (including 13 drilling rigs, except for those in Alaska) from Parker Drilling for approx $40 million in cash and 1 million shares ... Elf Exploration announced their second oil discovery in the Mississippian Canyon Block 243 in the Gulf of Mexico tested 6,640 B/D ...
(8/12) ... Ingersoll-Rand offered its interests in two joint ventures with Dresser Industries to Dresser worth estimated $920 million which would make Dresser to own 100% of the joint ventures ... Conco, Mobil, and Stratoil commenced production from the Bell field in the North Sea with an initial rate of 110 million CF/D ...
(8/11) ... AGA reported an injection of 45 BCF into the natural gas storage, representing an increase of 1.3% at 72.3% full ... the DOE reported crude oil stocks at 323.4 MMB, down 2.2 MMB from last week ... Mexico Energy Ministry estimated the recent discovered Sihil oilfield, offshore Cantarell complex in the Campeche Sound, having a reserve of 1.4 billion equivalent barrels ... MCN Energy Group (Detroit) completed the sale of its Texas and Oklahoma properties to serveral companies for approx $105 million ... Conoco announced a discovery well in the West Natuna sea, offshore Indonesia with a combined test of 5,375 B/D and 21 MMCF/D ... Chenier Energy, IP Petroleum, Beta Oil & Gas announced 2 wells in the West Cameron Block 49 offshore Louisiana combined test from 3 zones of 30.4 MMCF/D ...
(8/10) ... API reported crude oil stocks down 3.16 MMB, distillates stocks down 0.65 MMB, unleaded gasoline stocks down 3.48 MMB, and refinery capacity at 95.0% down 4.1% versus last week's ... the International Energy Agency estimated the demand for crude oil in the year 2000 would be at 77 million B/D, representing a growth of 1.8 million B/D or twice of the 0.9 million B/D growth in 1999 ... Mexico Energy Minister announced that Mexico would lift the 4% tariff on natural gas imports ... Helmerick & Payne (Tulsa, OK) completed the acquisition of interests in 3 projects in Jefferson and Galveston Counties, Texas from Esenjay Exploration (Houston, TX) for approx $4.8 million ... stockholders of Southwest Gas Corp. approved the merger with ONEOK in a deal worth $1.8 billion ...
(8/9) ... Standard & Poor projected Platt's WTI price to be $23.62 in November 1999 ... U.S. Commerce Dept, citing "insufficient industry support", rejected domestic oil producers' complaints of Venezuela, Saudi Arabia, Mexico, and Iraq of dumping cheap oil on U.S. market ... Citgo's 165,000-B/D refinery in Corpus Christi was not affected by the explosion at one of the steam boilers that killed one worker ... Clyde Petroleum, Dyas, and Clam Petroleum announced their discovery well in the Dutch Sector of the North Sea tested 54 MMCF/D from 2 zones ... LL&E Algeria, Sonatrac, Talisman, and the National Oil & Gas Enterprise of Algeria announced their discovery well in the Berkin Basin, Algeria flow tested 8,549 B/D and 12.6 MMCF/D ...
(8/6) ... Baker-Hughes reported U. S. rig count at 616, up 14 against last week ... Canada's rig count at 255, up 16 against last week ... NYMEX unleaded gasoline closing price is highest in 2 years ... The Exploration Co. (San Antonio, TX) acquired 12.5% interest in 6 wells and 12,800-acre Chittim lease in the Maverick Basin, south Texas and 100% interest in 12,000-acre leases nearby from Peacock Exploration ...
(8/5) ... Sun Pipe Line Services agreed to buy the crude oil gathering business assets of Pride Refining for approx $26 million plus $5.3 million debt ... Dow Chemical agreed to acquire Union Carbide in a $9.3 billion deal with stocks creating world's 2nd largest chemical company ... Weatherford International acquired Cardium Tool Services, a manufacturer of completion tools, for approx $14.5 million ... Canadian Natural Resources Ltd and Penn West Petroleum Ltd agreed to acquire BP Amoco's Canada Oil Business Unit including Bonnyville, Wabasca, Nipisi, Drayton Valley, and Hoosier for approx $1.6 billion ... Patina Oil & Gas (Denver, CO) agreed to buy 51% of Tribo Petroleum's properties in the Sacramento Basin, California for approx $12 million ...
(8/4) ... the DOE reported crude oil stocks down 3.4 MMB, distillates stocks did not change much, unleaded gasoline stocks down 1.2 MMB from last week ... API reported crude oil stocks down 4.97 MMB, distillates stocks up 4.39 MMB, unleaded gasoline stocks up 1.94 MMB, and refinery capacity down 0.3% at 99.1% versus last week's ... AGA reported an injection of 26 BCF into the natural gas storage, representing an increase of 0.8% at 71.0% full ... Gulf, Talisman, and Pertamina announced the record test for their well in south Sumatra, Indonesia tested 58 MMCF/D and 370 B/D from 6,400 feet ... Parallel Petroleum, Allegro Investments, and Beta Oil & Gas announced two discoveries in Jackson County, Texas with combined test of 85.5 MMCF/D and 190 B/D from 3 intervals in the Frio and Yegua at 4,600 to 7,100 feet ... Mobil, Total, and Tesoro announced the largest natural gas discovery well in Bolivia with two tests combined for 60 MMCF/D from 18,900 feet ... Blue Dolphin Exploration agreed to acquire 75% ownership in American Resouces Offshore for approx $4.7 million ... Panaco, St Mary Land & Exploration, and Carson Energy announced their well in Cameron Parish, LA tested 40 MMCF/D from 15,900 feet ...
(8/3) ... Morgan Stanley Capital Group entered an agreement to supply crude to Orion Refining Corp.'s 175,000-B/D refinery in Norco, Louisiana and to market the products ... Contour Energy Co. is the new name of Kelley Oil & Gas Corp. (Houston, TX) ... Global Industries (Houston, TX) agreed to acquire France's ETPM, SA creating the world's largest offshore construction company ... Comstock Resources (Dallas, TX) announced the re-entry result of an abandoned well in Polk County, Texas with new horizontal section to the Woodbine formation at 14,600 feet flowing 10 MMCF/D and 900 B/D ...

(8/2) ... Cross Timbers Oil agreed to acquire working interests in oil and gas properties in the Arkoma Basin from Ocean Energy for approx $235.5 million ... The Dow Chemical Co. agreed to buy Angus Chemical Co. from TransCanada PipeLines Ltd ... ANR Production acquired interest in the Brushy Creek field in Lavaca and Dewitt Counties, Texas for approx $15.2 million from Southern Mineral ... Pioneer Natural Resources sold properties in south Texas to CNG Producing for approx $62.3 million and agreed to sell properties in west Texas to EnerQuest Oil & Gas for approx $35 million ... Williams completed the acquisition of 3 storage and distribution terminals in the Gulf Coast from Amerada Hess ...
(7/30) ... OPEC's market monitoring committee recommended that OPEC to retain the current pledges "at least" until March 2000 ... Baker-Hughes reported U. S. rig count down 3 against last week at 602 (498 for gas and 104 for oil) ... Canada's rig count up 20 against last week at 239 ... NYMEX unleaded gasoline closing price was highest in 18 months ... McDermott International (New Orleans, LA) completed the acquisition of J. Ray McDermott, S. A. ...
(7/29) ... Anadarko and Texaco Exploration & Production signed an agreement for the exploration of the Gulf of Mexico's sub-salt play ... Hunt Oil (Dallas, TX) acquired DDD Energy's 18.75% interest in the Topsy, Turps, and Barnes Creek fields and in 16,000 acres in Louisiana for approx $13.7 million ... Ventus Energy (Calgary) agreed to acquire all issued and outstanding shares of Talon Petroleum with cash and stock worth approx $16.1 million ... Cabre Exploration (Cyprus) signed an agreement with Coplex (Egypt) to assume the role of operator of the West Esh El Mallaha Concession in Egypt ...
(7/28) ... the DOE reported crude oil stocks at 329.0 MMB, down 5.2 MMB from last week ... AGA reported an injection of 41 BCF into the natural gas storage, representing an increase of 1.3% at 70.2% full ... Mexico, Venezuela, Saudi Arabia, and Middle East Gulf States reiterated their commitment to the promised production cut ... Mobil's 130,000-B/D refinery in Torrence, CA caught fire early this morning but was returned to operate at reduced capacity ... Solana Petroleum Exploration (Colombia) Ltd (Calgary) agreed to acquire Seven Seas Petroleum Colombia's 11.875% interest (now holding 50.0%) in the 116,000-acre Tapir Association Contract in northeast Colombia ...
(7/27) ... API reported crude oil stocks down 1.68 MMB, distillates stocks down 0.27 MMB, unleaded gasoline stocks down 3.74 MMB, and refinery capacity up 0.6% at 98.7% versus last week's ... Core Laboratories agreed to acquire all outstanding shares of Reservoirs, Inc. (Houston, TX) with stock worth approx $5.2 million ... Enterprise Products Partners LP (Houston, TX) signed the Letter of Intent to acquire the 263-mile Lou-Tex pipeline from Concha Chemical Pipeline ... Dublin International Petroleum (Egypt), Drucker Petroleum, and GHP Exploration (West Gharib) announced the oil discovery in the Gulf of Suez flowing 500 B/D from 4,900 feet ... U.S. Crude (Colton, CA) and Allied Energy (WV) agreed to form a joint venture to utilize U.S. Crude's Thermal Gas Respressurizing technique on Allied Energy's wells in Ritchie County, WV ...
(7/26) ... the New York Mercantile Exchange was bidding to buy from 55% to 70% of the International Petroleum Exchange and being reviewed by UK's Office of Fair ... Petrovietnam signed a 30-year Production Sharing Contract with Vietnam American Exploration Co. to explore offshore southern Vietnam ...
(7/23) ... Baker-Hughes reported U. S. rig count up 22 against last week at 605 (501 for gas and 104 for oil) ... Canada's rig count up 2 against last week at 219 ... Elf Aquitaine rejected the $42.8 billion take over bid by Total Fina ... Mexico's Energy Minister stated that Mexico would stay with the promised production cut ... Plains Resources inquired the Department of Energy about the possibility of oil companies intentionally reported their stocks to manipulate oil prices ...
(7/22) ... Venezuela's President said there was no need to ease supply limit this year, while OPEC issued a report announcing that current production ceiling should hold through March 2000 ... Santa Fe Snyder acquired additional interest in the Anton Irish CO2 flood unit from Phillips Petroleum, increasing to 29.5% ownership ... Grey Wolf Exploration (Calgary) agreed to acquire 25% of New Cache's interest in leased acreage and seismic interpretation ... APF Energy Trust signed a Letter of Intent to acquire 48% interest in United Gas Management, a natural gas distributor in Ohio, Pennsylvania, Georgia, can California, with share and cash worth approx $24 million ...
(7/21) ... DOE's report on crude oil stocks was postponed until next week due to computer problem ... AGA reported an injection of 78 BCF into the natural gas storage, representing an increase of 2.4% at 68.9% full ... Exxon reported earnings in the second quarter declined 25% compared to a year ago citing low profits in refining and low natural gas prices ... Nigerian government announced to increase their production of 215,000 B/D to 2.035 million B/D citing high prices ... Spain's Repsol-YPF commenced production at the Salam processing plant in the western Egyptian Desert ... Cypress Energy (Calgary) completed the acquisition of Gardiner Exploration Ltd with stocks worth approx $15.7 million ...
(7/20) ... API reported crude oil stocks up 5.53 MMB, distillates stocks up 1.09 MMB, unleaded gasoline stocks down 0.89 MMB, and refinery capacity up 1.5% at 98.1% versus last week's ... Venezuelian state oil company PDVSA president said that OPEC should increase production if crude price gets above $22/BBL ... Kinder Morgan Energy Partners LP agreed to purchase two transmix processing plants, one in Richmond, Virginia and one in Dorsey Junction, Maryland from Primary Corp. for approx $37 with cash and stocks ... Belco Oil & Gas (New York) announced their well in the Wind River Basin, Wyoming tested 8 MMCF/D from the Lance and Mesaverde sands and two wells in the Gulf Coast area tested a total of 4.6 MMCF/D from the Yegua sand at 5,700 feet ...
(7/19) ... France's Elf Aquitaine announced plan to acquire France's Total Fina with cash and stock worth approx $50.5 billion to create the world's 4th largest oil group and 5th largest chemicals group ... two weeks ago, Total Fina proposed to acquire Elf Aquitaine for approx $42.8 billion ... Santa Fe Snyder agreed to acquire working interest in four Gulf of Mexico fields from Shell Deepwater Development plus acreage in adjacent blocks for approx $210 million ... Valero shut down the 45,000-B/D catalytic cracker at its 160,000-B/D refinery in Texas City, Texas ... Coastal still shut down the reformer unit in its 100,000-B/D refinery in Corpus Christi ...
(7/16) ... Baker-Hughes reported U. S. rig count up 13 against last week at 583 (476 for gas and 107 for oil) ... Canada's rig count up 7 against last week at 217 ... Plains Scurlock Permian LP completed the acquisition of a pipeline and gathering system in West Texas from Chevron Pipe Line for approx $35 million ... Meridian Resource and Burlington Resources announced a discovery well located in the Rockefeller Refuge, Cameron Parish, Louisiana tested 5.1 MMCF/D and 3,400 BW/D from three Marg sands at 18,000 feet ... Italy's Eni SpA agreed to purchase Marathon Petroleum Egypt's 50% ownership in the Ashrafi oil field and 25% ownership in the El Qar'a natural gas field in Egypt ...
(7/15) ... Chevron's refinery in Richmond, California could be shut down for at least a month for repairs ... Comanche Energy (Dallas, TX) acquired Double Eagle Petroleum from Oil City Petroleum with stocks worth $8.12 million ... BP Amoco offered to sell its 250,000-B/D Alliance refinery near Belle Chasse, Louisiana ... Peoples Energy Production (Chicago, Il) acquired Ensign Operating's 70% interest in certain oil and gas properties in the Arkoma Basin ... Freedom Energy (Ft. Smith, AR) has acquired the other 30% ... SEMCO Energy agreed to buy ENSTAR, a natural gas distributor business of Ocean Energy for approx $290 million ...
(7/14) ... the DOE reported crude oil stocks at 327.0 MMB, up 0.8 MMB from last week ... AGA reported an injection of 59 BCF into the natural gas storage, representing an increase of 1.8% at 66.5% full ... Sonat planned to reactivate the LNG terminal at Elba Island, near Savannah, Georgia ... has been out of service since 1982 ... Berco Resources (Denver, CO) acquired a major working interest in the Bear Creek field, Dunn County, Colorado from Prize Energy, who recently acquire it from Pioneer Natural Resources ...
(7/13) ... API reported crude oil stocks down 2.59 MMB, distillates stocks up 3.09 MMB, unleaded gasoline stocks down 1.89 MMB, and refinery capacity up 1.1% at 96.6% versus last week's ... NYMEX light sweet crude closing is highest in 20 months ... the U. N. compensated nearly $2.8 billion to several oil companies for the damage sustained in 1990 when Iraqi troops set fire to the wells, Kuwait Oil Co. got $2.2 billion, then Saudi Arabia Texaco got $506 million ... Chevron shut down its refinery in Richmond, CA due to mechanical problems ... Agip Algeria Exploration agreed to acquire Anadarko's 27.5% interest and LASMO's 13.75% interest in 2 concessions in Algeria's Sahara Desert for approx $127 million ...
(7/12) ... Schlumberger's Sedco Forex and Transocean Offshore announced the forming of Transocean Sedco Forex, would be the world's largest offshore drilling company ... Kerr-McGee Oil & Gas acquired Phillips Petroleum's 50% interest, now owned 100% interest in the Breton Sound Block 20 and 36 fields in the Gulf of Mexico ... Kerr-McGee Oil (U.K.) Plc agreed to acquire Statoil (U.K.) Ltd's 15% interest, now owned 61.5% interest in the Gryphon field in the North Sea ... Tosco restarted their refinery in Avon, California shutting down since the fire in February ... Penn Virginia (Radnor, PA) acquired oil and gas properties in the Gwinville field, Jefferson Davis County, Mississippi for approx $13.7 million ...
(7/9) ... Baker-Hughes reported U. S. rig count down 10 against last week at 570 (450 for gas and 120 for oil) ... Canada's rig count up 18 against last week at 210 ... NYMEX crude closing price is highest in 19 months ... the International Energy Agency predicted a short fall of 1.61 million B/D in world oil supply in the third quarter increasing to 3.24 million B/D in the fourth quarter ...
(7/8) ... the DOE reported crude oil stocks at 326.2 MMB, down 4.2 MMB from last week ... the Energy Information Agency projected world oil demand for this year at 74.9 million B/D and supply at 74.1 million B/D resulting in a 800,000 B/D shortfall in global oil supply ... KN Energy (Lakewood, CO) and Kinder Morgan (Houston, TX) agreed to merge ... Prize Energy Inc. (Calgary) clarified that they were not "Prize Energy Corp." as stated in the report released from Pioneer Natural Resources as the buyer of Pioneer's properties ... Schlumberger Oilfield Services signed the letter of intent to acqurie Merak (Calgary), a developer/marketer of petroleum software ...
(7/7) ... AGA reported an injection of 69 BCF into the natural gas storage, representing an increase of 2.1% at 64.7% full ... API reported crude oil stocks down 1.92 MMB, distillates stocks up 1.27 MMB, unleaded gasoline stocks down 4.40 MMB, and refinery capacity down 0.8% at 95.5% versus last week's ... National Oilwell acquired the assets of Continental Emsco Drilling Products for approx $65 million ... Mobil Exploration & Production completed a new well in the Mobil 823 field, south of Dauphin Island, Alabama with the intial production of 42 MMCF/day from the Norphlet formation at 21,900 feet ...
(7/6) ... Tom Brown Inc. (Denver, CO) completed the acquisition of oil and gas assets in the Rocky Mountain from Spirit Energy 76 with $5 million cash plus stock totaling approx $89 million ... Columbia Energy Group rejected the latest take over offer from NiSource at $68/share or approx $5.7 billion ... Venus Exploration (San Antonio, TX) and EXCO formed a joint venture in the acquisiton of oil and gas properties in the Vernon field, Jackson Parish, Louisiana from Apache for approx $28.5 million ... Vintage Petroleum (Tulsa, OK) acquired the interest of Total and Repsol SA, now owned 100% interest in the 150,000-acre El Huemul concession in Santa Cruz province, Argentina ...
(7/5) ... IPE Brent crude closed at $18.18/BBL up $0.52/BBL ... Total Fina SA, France's largest oil company, launched a hostile bid for rival Elf Aquitaine SA in a stock deal worth $43 billion ...
(7/2) ... Baker-Hughes reported U. S. rig count up 17 against last week at 580 (467 for gas and 112 for oil) versus last year's of 812 ... Core Laboratories (Houston, TX) completed the acquisition of Coherence Technology, a seismic data processing and interpretation firm ... Chevron completed the sale of its remaining coastal California assets involving 4 platforms in the Point Arguello field and a processing plant to Arguello, a wholly owned subsidiary of Plains Resources ...
(7/1) ... Texaco agreed to acquire 10% of Arco's 30% interest in the Hamaca heavy oil project in the Orinoco Oil Belt, Venezuela ... Phillips Petroleum agreed to exchange their 18% interest in an oil field in Lake Macaraibo for Arco's remaining 20% ... WBI Holdings (Bismark, ND) completed the acquisition of Bitter Creek Pipelines, a transporter of coal seam gas in north central Wyoming ... Bellwether Co. (Houston, TX) competed the acquisition of Energen Resources (Birmingham, AL)'s interest in 33 Gulf of Mexico blocks for approx $17 million ... Coastal Oil & Gas acquired gas properties in the Hell's Hole and Park Mountain fields from Mitchell Energy & Development ...
(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 ...
(3/31) ... AGA reported a withdrawal of 37 BCF from the natural gas storage, representing a decrease of 1.1% over last week and 40.7% full ... the DOE reported crude stocks up 3.8 MMB versus last week at 344.6 MMB ... Enterprise Oil plc and LASMO plc terminated merger talk ... Quicksilver Resources (Fort Worth, TX) signed agreement to acquire the Garfield Unit and Beaver Creek Richfield Unit in Michigan from Spirit Energy 76 for approx $30 million in cash and stock ... Buckey Pipe Line (Allentown, PA) acquired 6 pipeline operating agreements in the Gulf Coast area and a 16-mile pipeline from Seagull Products Pipeline and Seagull Energy and will operate them under Buckeye Gulf Coast Pipe Lines LLC ...
(3/30) ... API reported crude oil stocks up 4.71 MMB, distillates stocks down 4.08 MMB, unleaded gasoline stocks down 5.43 MMB, and refinery capacity up 2.8% at 94.3% versus last week's ... Saratoga International Holdings (Kirkland, WA), formerly Western Oil & Tire Distributors, ventured in the energy business by acquiring Eclipse Energy (Alberta) ... LG&E Energy (Louisville, KY) acquired 28% interest of Ivergas, SA, which holds 70% of Gas Natural BAN, a large natural gas distributor in Buenos Aires, Argentina ... Dominion Energy (Richmond, VA) completed the acquisition of Remington Energy (Calgary) with stock worth $33 million plus $260 million debt ... NAL Resources Management (Calgary) acquired oil and gas properties in central Alberta from Ocelot Energy (Calgary) for approx $83.3 million ...
(3/29) ... BP Amoco and Atlantic Richfield are discussion of possible merger with BP Amoco paying approx $25 billion ... W-H Energy Services acquired the "Path Finder" business, including loging- and measurement-while-drilling, from Halliburton ... Aquila Energy acquired all outstanding stock of Western Gas Resources Storage with the lone asset being the Katy Hub and Storage Facility; Western announced earlier this month that it sold the Giddings Gathering System ... CMS Energy completed the acquisition of Panhandle Pipe Line Co, Trunkline Gas Co, and Trunkline LNG from Duke Energy for approx $2.2 billion ... CalEnergy Gas (UK) agreed to acquire 67% interest in the Anglia Field in the North Sea from Ranger Oil for approx $64 million ...
(3/26) ... NYMEX crude oil price is highest since almost a year ago on March 30, 1998 at $16.21/BBL, gasoline price is highest since May 15, 1998 ... Baker-Hughes reported U. S. rig count down 24 over last week at 502 versus last year's of 890 ... Ocean Energy (Houston, TX) signed a purchase and sale agreement with Quintana Minerals Canada to sell its Canadian subsidiary for approx $74 million; earlier in the week, Ocean signed agreements to sell its non-core US onshore assets for approx $42 million ... Star Gas Partners LP (Stamford, CT), a distributor of propane and home heating oil in the Midwest and Northeast, completed the acquisition of Petroleum Heat & Power ...
(3/25) ... Chevron reported an explosion at the hydrocracking unit at their refinery in Richmond, CA, no injury and the unaffected area were back to operating ... San Juan Partners, LLC , an affiliate of Dominion Resources, offered to acquire the Burlington Resources Coal Seam Gas Royalty Trust for aprox $73 MM in cash ... Santa Fe Resources signed 2 additional Production Sharing Contracts covering 1,620,000 acres in the south China Sea ... Unocal Thailand set the record for drilling 5,145 feet per day and for the rate of the 14-well platform of 4,010 feet per day using slimhole drilling ...
(3/24) ... AGA reported a withdrawal of 87 BCF from the natural gas storage, representing a decrease of 2.8% over last week and 41.8% full ... the DOE reported crude stocks up 2.8 MMB versus last week at 340.8 MMB ... Core Laboratories N.V. terminated plan to merge with GeoScience Corp. ... El Paso Field Services, a business unit of El Paso Energy, acquired EnCap Investments L.C. for approx $52 million ... Lexico Resources International acquired the remaining 25% interest in 4,000 acres in the Natural Buttes field, Utah and 50% interest in another 8,000 acres in the same area ... Bear Paw Energy signed a contract to construct and operate the natural gas gathering system in the Powder River Basin, WY for Pennaco's coal bed methane gas production ...
(3/23) ... API reported crude oil stocks up 0.82 MMB, distillates stocks down 4.69 MMB, unleaded gasoline stocks down 4.79 MMB, and refinery capacity down 1.8% at 91.5% versus last week's ... OPEC and non-OPEC members agreed to cut oil output by a total of 2.1 million barrels per day beginning April 1st ... Calpine (San Jose, CA) completed the acquisition of the remaining 75% interest from Unocal in the Geysers geothermal steam fields in northern California for approx $101 million ... WolfStone Corp (Woodridge, CA) acquired Subsurface Energy for Texas International Petroleum, its wholly owned subsidiary, including 7,500 acres of lease an