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Date: Wed, 16 Jan 2002 15:52:19 -0800 (PST)
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=09Thursday January 17, 2002=09[IMAGE]   =09=09=09
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[IMAGE]=09=09      [IMAGE] [IMAGE]      In This Issue [IMAGE]      [IMAGE] =
    [IMAGE]    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 World=
wide Offshore Rig Utilization Oil & Gas Prices    [IMAGE]   [IMAGE]       I=
ndustry Headlines [IMAGE]      [IMAGE]       UK's 20th Licensing Round Open=
 for Bids  The UK's 20th licensing round opens up almost 300 offshore block=
s.  African Oil Workers Launch General Strike  The Nigeria Labor Congress l=
aunched a general strike on Wednesday in an effort to force the government =
to reverse a recent decision to increase fuel prices.  Shell Evacuates Bren=
t C Platform  A hydrogen sulfide gas leak was discovered on Shell's Brent C=
 Platform in the UK North Sea last night.     [IMAGE]   [IMAGE]  advertisem=
ent  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 infor=
mation:   http://www.rigzone.com/market/surplus_listing.asp?eq_id=3D397    =
        Exploration [IMAGE]      [IMAGE]     [IMAGE]  Marathon Drills Two D=
usters in Gulf of Mexico  Marathon Oil Company reported that it did not enc=
ounter hydrocarbons at the company's Paris Carver and Flathead exploratory =
wells in the deepwater Gulf of Mexico.  Nigeria and Sao Tome & Principe Est=
ablish Joint Development Zone  Nigeria and the Democratic Republic of Sao T=
ome & Principe have established a Joint Development Zone over the offshore =
area that had previously been subject to competing national claims.  Matrix=
 to Re-enter Kambuna #1 Well  Matrix plans to re-enter its West Kambuna # 1=
 well after reviewing independent third-party studies on the area.  U.S. Ap=
proves Deepwater Royalty Relief  Gale Norton, Secretary of the Interior, an=
nounced that oil and gas companies drilling in! Gulf of Mexico deepwater wi=
ll be given royalty reductions.    [IMAGE]   [IMAGE]       Production [IMAG=
E]      [IMAGE]     [IMAGE]  Buzzard Boosts PanCandian's North Sea Reserves=
  PanCanadian has increased its recoverable reserves on its Buzzard oil dis=
covery in the North Sea, after drilling two additional appraisal wells on t=
he structure.  Iran Finalizes Foroozan-Esfyandar Development Plan  Iran is =
close to finalizing development plans for the Foroozan-Esfyandar fields off=
shore Iran.  Production Restarted at Argyll Field  The UK's Department of T=
rade and Industry awarded a license to restart production from the UK's old=
est offshore oilfield, Argyll.  Baja Pipeline Approved  The FERC gave final=
 approval to the U.S. segment of the North Baja Pipeline project.    ! [IMA=
GE]   [IMAGE]       Company & Financial News [IMAGE]      [IMAGE]     [IMAG=
E]  Capco Acquires Energy Reserves Group  Capco Energy, Inc. has signed an =
agreement to acquire all outstanding shares of Houston-based Energy Reserve=
s Group.    [IMAGE]   [IMAGE]  advertisement   [IMAGE] Human Resources in O=
il and Gas is the comprehensive HR forum for the industry. The conference w=
ill deal with attracting and retaining quality staff and dealing with the e=
ffects of mergers, acquisitions, and restructuring. This conference is a mu=
st for anyone involved in the often hectic human resources decisions of tod=
ays oil and gas companies. HR in Oil and Gas is being held in Aberdeen on F=
ebruary 27 and 28. Click here for more information.            Last 7 Days =
Top Stories [IMAGE]      [IMAGE]     [IMAGE]  Former Enron Execs Start New =
Company  Several former Enron senior executives have formed a new company t=
o provide risk management services to the energy industry.  Torch Offshore =
Purchases Construction Vessel   Torch Offshore has purchased a 520-foot ves=
sel which it intends to convert to a DP-2 offshore construction vessel and =
rename the Midnight Express.  Anadarko Petroleum Provides 2002 Outlook  Ana=
darko Petroleum Corporation outlines its expectations for capital spending =
for 2002 and offers guidance on 2001 financial and operating results.  Devo=
n Hits Offshore Brazil  Devon Energy has made a discovery in the shallow wa=
ters of Campos Basin offshore Brazil.  National-Oilwell Acquires HALCO  Nat=
ional-Oilwell has acquired HAL Oilfield Pump & Equipment Company.  Anderson=
 Employees Destroy Enron Documents  Andersen reports that individuals in th=
e firm have disposed of a significant number of electronic and paper docume=
nts and correspondence relating to the Enron account  Petrobras Awards FMC =
$17 Million Contract  FMC will provide Petrobras with three deepwater solut=
ions with a contract value of approximately $17 million.  Novus Petroleum H=
its in the Gulf of Mexico  The La Playa-1 well in the western Gulf of Mexic=
o offshore Padre Island has discovered natural gas.  Kongsberg Awarded Craz=
y Horse Project  Kongsberg Simrad has been aw! arded a contract for providi=
ng an integrated control and monitoring system to BP for the Crazy Horse PD=
Q semisub.  Venture To Begin Drilling Program on Sycamore Field  Venture Pr=
oduction will start drilling in May of this year at its Sycamore field in t=
he UK Sector of the North Sea.  Shell and CNOOC Sign PSC Agreement  CNOOC a=
nd Shell Exploration China Limited signed a Production Sharing Contract for=
 the exploration of the Bonan area of Bohai Bay.  Statoil Sells First Oil F=
rom Girassol  Statoil has sold its first load of crude - one million barrel=
s - from the TotalFinaElf-operated Girassol field offshore Angola.    [IMAG=
E]   [IMAGE]       Upcoming Oil & Gas Industry Events [IMAGE]      [IMAGE] =
    [IMAGE]  Jan. 22    Alliances and Partnering in Oil & Gas   Singapore F=
eb. 6     Torch Mid-Winter Energy Conference  New York Feb. 7     Marine Co=
nstruction 2002  Houston Feb. 10    2002 SPE International Petroleum Confer=
ence & E! xhibition in Mexico  Villahermosa Feb. 26    2002 IADC/SPE Drilli=
ng Conference and Exhibition   Dallas Feb. 26    Offshore Oil and Gas Safet=
y Seminars  Aberdeen Feb. 27    Human Resources in Oil & Gas  Aberdeen Mar.=
 10    AAPG Annual Meeting  Houston Mar. 20    LNG North America  Houston A=
pr. 9     2002 SPE/ICoTA Coiled Tubing Conference and Exhibition  Houston  =
list your conference  view upcoming events   [IMAGE]   [IMAGE]    [IMAGE]  =
  [IMAGE] [IMAGE]  Horizon Offshore  Global Completion Service HoverDril  B=
aker Hughes   [IMAGE]   [IMAGE]   pr! omote your company      [IMAGE] [IMAG=
E]  [IMAGE]  2001 U.S. Offshore Oil Company Directory  [IMAGE] [IMAGE]  Dec=
ision Analysis for Petroleum Exploration, 2nd Ed.  [IMAGE] [IMAGE]  Environ=
mental Impact of the Offshore Oil and Gas Industry  [IMAGE]  [IMAGE] [IMAGE=
]     more products      [IMAGE] [IMAGE]  featured equipment: Wartsila Gene=
rator Sets  [IMAGE]   BOP Closing Units  [IMAGE]   [IMAGE]   [IMAGE]   more=
 equipment    [IMAGE]   [IMAGE]   featured jobs:  - Production Operator  - =
Construction Engineer  - Senior Pipeline Engineer   ! more hot jobs >>   fe=
atured candidates:  - Field Geologist & Software Engineer  - Commissioning =
Operator  - Geological Oil and Gas Database Support Specialist   search for=
 candidates >>   [IMAGE]   [IMAGE]     [IMAGE] [IMAGE]   Drillships:  To 50=
00':   50.0% (7/14) +5000':   96.0% (24/25)  Semisubs:  2nd Gen:   67.1% (4=
9/73) 3rd Gen:   86.0% (43/50) 4th Gen:   100.0% (38/38) 5th Gen:   100.0% =
(7/7) Jackups:   To 200':   56.7%  (38/67) 200' MC:   50.0% (12/24) 200' MS=
:   14.3% (3/21) 300' IC:   86.5% (83/96) +300' IC:   90.7% (49/54) Severe =
Env.:   81.0% (17/21)  [IMAGE]   [IMAGE]   view complete utilization report=
      [IMAGE] [IMAGE]  Light Crude Oil:  $18.82/BBL  (1.84%) Brent Crude Oi=
l:  $19.48/BBL  (-1.27%) Natural Gas:  $2.41/MMBtu  (5.24%) Unleaded Gasoli=
ne:  $0.55/gal  (3.77%) prices f! rom:  1/16/2002 change since:  1/15/2002 =
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=09=09=09  Promotional Opportunities Become a Sponsor, feature your job ope=
ning or, advertise your  upcoming industry conference.  Click here  for mor=
e information, send your press release to  info@rigzone.com  or call us at =
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