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Date: Mon, 17 Dec 2001 15:42:46 -0800 (PST)
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	Tuesday
December 18, 2001	Schlumberger <http://www.connect.slb.com/> 		
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Current Oil and Gas Industry News
T! op Stories for the Past 7 Days
Featured Events and Conferences
What's in Store - Books & More

Featured Employment Opportunities
Surplus Oilfield Equipment For Sale
Worldwide Offshore Rig Utilization
Oil & Gas Prices

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Industry Headlines	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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BP Petitions UK Court for Right to Appeal Rowan Judgment  <http://www.rigzone.com/news/article.asp?a_id=2223>
Amoco (UK) Exploration Company has filed an Application for Permission to Appeal the Judgment handed down by the English Court on November 16, 2001 in the Rowan Lawsuit.

Conoco To Develop Deepwater Magnolia Field <http://www.rigzone.com/news/article.asp?a_id=2222>
Conoco and Ocean Energy to develop the Magnolia Field in the deepwater Gulf of Mexico at a ! cost of $600 million.

Norway Reduces Output by 150,000 Barrels <http://www.rigzone.com/news/article.asp?a_id=2221>
The Norwegian Government has decided to reduce crude oil production by 150,000 barrels per day from January 1 until June 30, 2002.

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Exploration	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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GlobalSantaFe Announces November SCORE <http://www.rigzone.com/news/article.! asp?a_id=2227>
The worldwide SCORE remained stable in November, in spite of oil price uncertainties and continued weakness in the Gulf of Mexico.

Repsol Expected to Receive Clearance to Drill Offshore Canary Islands <http://www.rigzone.com/news/article.asp?a_id=2226>
Repsol YPF SA is expected to receive government clearance to explore the waters surrounding the Canary Islands by the end of this week.

PanCanadian Increases Exploration Acreage in Gulf of Mexico <http://www.rigzone.com/news/article.asp?a_id=2225>
PanCanadian has increased its Gulf of Mexico inventory from 55 to 142 blocks (818,000 acres), by way of two exploration joint ventures.

Canadian Superior Begins Major Drilling Program in Alberta <http://www.rigzone.com/news/article.asp?a_id=2224>
Canadian Superior Energy Inc. has kicked off a major drilling program targeting natural gas in several n! ew core areas established this year in north central and northwest Alberta.

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Production	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Petrobras P-40 Production Semi Now Online <http://www.rigzone.com/news/article.asp?a_id=2230>
Petrobras started producing oil with its new offshore rig at the Marlim Sul field after long delays that had compromised its production targets.

CNOOC In The Market for an Oil Field <http://www.rigzone.com/news/article.asp?a_id=2229>
CNOOC is planning a US $500-600 million oil field acquisition in early 2002. The oilfield would most likely be located outside of mainland Chinese waters.

Saibos Successfully Completes Girassol Flowline Installation <http://www.rigzone.com/news/article.asp?a_id=2228>
Saibos Construcoes Maritimas has successfully installed two rigid export flowlines for the Girassol risers projec! t.

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Company & Financial News	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Mariner Secures Option on Marquis Prospect <http://www.rigzone.com/news/article.asp?a_id=2232>
Mariner has secured an option to farm-in on Canadian Superior Energy Inc.'s Marquis natural gas prospect offshore Nova Scotia near Sable Island.

Magnum Hunter to Spend $75 Million in 2002 <http://www.rigzone.com/news/article.asp?a_id=2231>
Magnum Hunter plans to spend $75 million in 2002 and will participate in 22 offshore wells in the Gulf of Mexico. Six of the offshore wells will be exploratory wells.

Nexen Plans to Spend $1.24 Billion in 2002 <http://www.rigzone.com/news/article.asp?a_id=2220>
Nexen Inc. announced a 2002 capital investment program designed to deliver long-term value growth for shareholders.

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A National-Oilwell designed, 1992 built modular offshore drilling rig is available for sale direct from the manufacturer. This rig drilled only 5 wells from the Draugen platform in the Norwegian sector of the North Sea. Click on the link below for full details, photos and seller contact information: 

<http://www.rigzone.com/market/surplus_listing.asp?eq_id=397> 

	

Last 7 Days Top Stories	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Devon Energy to Sell Latin American Assets <http://www.rigzone.com/n! ews/article.asp?a_id=2206>
Devon Energy is planning to sell several of its Latin American assets, located in Argentina and Brazil.

Bouygues Signs AIOC Contract <http://www.rigzone.com/news/article.asp?a_id=2183>
Following an interim accord with the AIOC consortium on July 11, Bouygues Offshore has signed a contract worth US $163 million to supply offshore structures for the Azeri field.

Halliburton Expands Relationship with Vanco Energy <http://www.rigzone.com/news/article.asp?a_id=2191>
Halliburton continues to build upon its relationship with Vanco Energy by signing an agreement for engineering and consulting services in several deepwater regions offshore West Africa.

Indonesia Will Tender 17 Blocks for Exploration <http://www.rigzone.com/news/article.asp?a_id=2192>
Indonesia will tender 17 areas for oil exploration. Tender documents will be availa! ble January/February 2002.

ChevronTexaco Interested in Joining Baku-Ceyhan Pipeline <http://www.rigzone.com/news/article.asp?a_id=2177>
ChevronTexaco confirmed its plans to join the projected Baku-Ceyhan pipeline, to run from Azerbaijan to Turkey.

Pioneer Sets Budget for 2002 <http://www.rigzone.com/news/article.asp?a_id=2184>
Pioneer Natural Resources Company announced that its Board of Directors has approved a 2002 development and exploration capital budget of $425 million.

Murphy Plans to Spend $866 Million in 2002 <http://www.rigzone.com/news/article.asp?a_id=2205>
Murphy Oil Corporation announces a capital program of $866 million for 2002, essentially level with spending during 2001.

Energy Partners to Acquire Hall-Houston <http://www.rigzone.com/news/article.asp?a_id=2219>
Energy Partners has entered into an agreement to acquire Hall-Houston Oil Company in a deal valued at a! pproximately $88.3 million.

Phillips Announces 2002 Budget <http://www.rigzone.com/news/article.asp?a_id=2172>
The board of directors of Phillips Petroleum Company has approved $3.5 billion for capital projects in 2002.

Statoil Orders New LNG Carrier <http://www.rigzone.com/news/article.asp?a_id=2188>
Statoil has placed an order with Leif Hoegh & Co and Mitsui OSK Lines for an LNG tanker to ship LNG from the Snohvit field to Melkoya.

Denbury Revises 2002 Budget <http://www.rigzone.com/news/article.asp?a_id=2173>
Denbury Resources Inc. has reduced its projected 2002 development and exploration budget by approximately 20%.

ExxonMobil Completes Several Wells in the Gulf of Mexico <http://www.rigzone.com/news/article.asp?a_id=2204>
ExxonMobil Corporation announced the completion of the Hawkes and Timber Wolf exploration wells in the Mississippi Canyon area of the Gulf of Mexico.

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Jan. 22 	Alliances and Partnering in Oil & Gas <http://www.rigzone.com/news/event_detail.asp?event_id=75>		
Feb. 7 	Marine Construction 2002 <http://www.rigzone.com/news/event_detail.asp?event_id=166>	Houston	
Feb. 10 	2002 SPE International Petroleum Conference & Exhibition in Mexico <http://www.rigzone.com/news/event_detail.asp?event_id=35>	Villahermosa	
Feb. 26 	2002 IADC/SPE Drilling Conference and Exhibition  <http://www.rigzone.com/news/event_detail.asp?event_id=37>	Dallas
Mar. 10 	AAPG Annual Meeting <http://www.rigzone.com/news/event_detail.asp?event_id=21>	Houston	
Apr. 9 	2002 SPE/ICoTA Coiled Tubing Conference and Exhibition <http://www.rigzone.com/news/event_detail.asp?event_id=41>	Houston	
May. 6 	Offshore Technology Conference 2002 <http://www.rigzone.com/news/event_detail.asp?event_id=31>	Houston	
Aug. 27 	ONS 2002 Conference and Exhibition <http://www.! rigzone.com/news/event_detail.asp?event_id=80>	Stavanger	
Oct. 6 	Society of Exploration Geophysicists Annual Meeting <http://www.rigzone.com/news/event_detail.asp?event_id=160>	Salt Lake City	
Oct. 15 	Permian Basin International Oil Show <http://www.rigzone.com/news/event_detail.asp?event_id=30>	Odessa	
list your conference <http://www.rigzone.com/news/post_event.asp?action=INSERT>	vi! ew upcoming events <http://www.rigzone.com/news/event_home.asp>	
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Quest Offshore <http://www.questoffshore.com>
Horizon Offshore <http://www.horizonoffshore.com>
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Strategies for Optimizing Petroleum Exploration <http://www.rigzone.com/store/product.asp?p_id=316>	
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Dictionary of Petroleum Exploration, Drilling & Production <http://www.rigzone.com/store/product.asp?p_id=141>	
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IRI 550 Series Drilling Rig <http://www.rigzone.com/market/surplus_listing.asp?eq_id=403>	
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Ideco H-35 DD Drive-in Rig  <http://www.rigzone.com/market/surplus_listing.asp?eq_id! =405>	
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-	Project Managers - Expandable Tubulars  <http://www.rigzone.com/jobs/job_posting.asp?p_id=594>	
-	Lafayette Based Pneumatic Fitter <http://www.rigzone.com/jobs/job_posting.asp?p_id=917>	
-	Chief Financial Officer <http://www.rigzone.com/jobs/job_posting.asp?p_id=928>	
more hot jobs >> <http://www.rigzone.com/jobs/hot_jobs.asp>	
featured candidates: 	
-	Facility Manager/Superintendent <http://www.rigzone.com/jobs/resume.asp?r_id=7957>	
-	Drilling Consultant- Offshore-Deepwater <http://www.rigzone.com/jobs/resume.asp?r_id=7462>	
-	Senior Sales and Marketing Service Specialist  <http://www.rigzone.com/jobs/resume.asp?r_id=7383>	
search for candidates >> <http://www.rigzone.com/jobs/search_resume.asp>	
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  <http://www.rigzone.com/images/email/title_tab_RigUtil.gif>	
  <http://www.rigzone.com/images/spacer.gif>	Drillships:	
To 5000': 	50.0%	(7/14)	
+5000': 	100.0%	(25/25)	
Semisubs:	
2nd Gen: 	67.1%	(49/73)	
3rd Gen: 	80.0%	(40/50)	
4th Gen: 	100.0%	(38/38)	
5th Gen: 	100.0%	(7/7)	
Jackups:	
To 200': 	53.7%	(36/67)	
200' MC: 	58.3%	(14/24)	
200' MS: 	14.3%	(3/21)	
300' IC: 	86.5%	(83/96)	
+300' IC: 	88.9%	(48/54)	
Severe Env.: 	81.0%	(17/21)	
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view complete utilization report <http://www.rigzone.com/data/utilization_trends.asp>	

  <http://www.rigzone.com/images/email/title_tab_OilPrices.gif>	
  <http://www.rigzone.com/images/spacer.gif>	West Texas Intermediate: 	$19.03/BBL 
(-1.04%)	
Saudi Arabian Light: 	$19.22/BBL 
(13.33%)	
North Sea Brent: 	$18.20/BBL 
(-2.10%)	
Natural Gas, Henry Hub: 	$2.69/MMBtu 
(13.03%)	
prices from: 	12/17/2001	
change since: 	12/14/2001	
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