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Date: Tue, 15 Jan 2002 15:13:07 -0800 (PST)
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Subject: RIGZONE Industry News
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=09=09=09[IMAGE]=09=09
=09Wednesday January 16, 2002=09[IMAGE]   =09=09=09
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[IMAGE]=09=09 RIGZONE [IMAGE] [IMAGE] [IMAGE] =09[IMAGE]=09=09
[IMAGE]=09=09home    | news    | search    | maps    | data    | jobs    | =
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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]       Rowan Announces 2001 Net Incom=
e  For the year ended December 31, 2001, Rowan generated net income of $77.=
0 million, or $.80 per share, compared to $70.2 million, or $.74 per share,=
 in 2000.  Enron Releases UBS Deal Details  The Enron/UBS deal for Enron's =
North American trading operation will entitle Enron to receive one-third of=
 the profits generated by the new t! rading entity.    [IMAGE]   [IMAGE]  a=
dvertisement  A National-Oilwell designed, 1992 built modular offshore dril=
ling rig is available for sale direct from the manufacturer.  This rig dril=
led only 5 wells from the Draugen platform in the Norwegian sector of the N=
orth Sea.  Click on the link below for full details, photos and seller cont=
act information:   http://www.rigzone.com/market/surplus_listing.asp?eq_id=
=3D397            Exploration [IMAGE]      [IMAGE]     [IMAGE]  Venture To =
Begin Drilling Program on Sycamore Field  Venture Production will start dri=
lling in May of this year at its Sycamore field in the UK Sector of the Nor=
th Sea.    [IMAGE]   [IMAGE]       Production [IMAGE]      [IMAGE]     [IMA=
GE]  Statoil Sells First Oil From Girassol  Statoil has sold its first load=
 of crude - one million barrels - from the TotalFinaElf-operated Girassol f=
ield offshore Angola.  CNOOC Taps Fuel Oil Market  CNOOC Ltd. is considerin=
g selling its new crude oil from the offshore QHD 32-6 field in the Bohai B=
ay as burning fuel.  Production Resume at Norne Field  Statoil reports that=
 its Norne Field located in the Norwegian sector of the North Sea has r! es=
umed its output after being shut-in due to bad weather.  Anadarko's Algeria=
n Field Onstream Early  Anadarko starts up production from the Hassi Berkin=
e oil field in Blocks 404 and 403 two months ahead of schedule.  Magnum Hun=
ter Enters GOM Sale-Leaseback Deal  Magnum Hunter Resources, Inc. has enter=
ed into a sale-leaseback transaction on three newly constructed offshore pr=
oduction platforms and associated pipelines that were recently placed into =
service.    [IMAGE]   [IMAGE]       Company & Financial News [IMAGE]      [=
IMAGE]     [IMAGE]  Energy Partners Completes Hall-Houston Acquisition  Ene=
rgy Partners, Ltd. has completed the acquisition of Hall-Houston and has el=
ected Gary Hall, HHOC's founde! r, to the post of Vice-Chairman of EPL.  De=
lta Petroleum Acquires Castle Energy Assets  Delta Petroleum has entered in=
to an agreement to purchase all of the domestic oil & gas properties of Cas=
tle Energy Corporation in a cash and stock deal.  Husky Plans to Spend $1.4=
 Billion in 2002  Husky Energy Inc. announced a capital spending plan of $1=
.4 billion for 2002.  Husky will spend approximately $975 million of the 20=
02 budget in Western Canada.    [IMAGE]   [IMAGE]  advertisement   [IMAGE] =
Human Resources in Oil and Gas is the comprehensive HR forum for the indust=
ry. The conference will deal with attracting and retaining quality staff an=
d dealing with the effects of mergers, acquisitions, and restructuring. Thi=
s conference is a must for anyone involved in the often hectic human resour=
ces decisions of todays oil and gas companies. HR in Oil and Gas is being h=
eld in Aberdeen on February 27 and 28. Click here for more information.    =
        Last 7 Days Top Stories [IMAGE]      [IMAGE]     [IMAGE]  BP Scales=
 Back Alaskan Operations  BP has decided to downsize its staff in Anchorage=
 and shelve its Liberty project at this time.  PetroChina and Shell Sign Ga=
s Pipeline Deal  PetroChina and Shell have entered into a preliminary agree=
ment for an $18 billion East/West China pipeline project.  Former Enron Exe=
cs Start New Company  Several former Enron senior executives have formed a =
new company to provide risk management services to the energy industry.  To=
rch Offshore Purchases Construction Vessel   Torch Offshore has purchased a=
 520-foot vessel which it intends to convert to a DP-2 offshore constructio=
n vessel and rename the Midnight Express.  National-Oilwe! ll Acquires HALC=
O  National-Oilwell has acquired HAL Oilfield Pump & Equipment Company.  An=
derson Employees Destroy Enron Documents  Andersen reports that individuals=
 in the firm have disposed of a significant number of electronic and paper =
documents and correspondence relating to the Enron account  Devon Hits Offs=
hore Brazil  Devon Energy has made a discovery in the shallow waters of Cam=
pos Basin offshore Brazil.  Petrobras Awards FMC $17 Million Contract  FMC =
will provide Petrobras with three deepwater solutions with a contract value=
 of approximately $17 million.  Anadarko Petroleum Provides 2002 Outlook  A=
nadarko Petroleum Corporation outlines its expectations for capital! spendi=
ng for 2002 and offers guidance on 2001 financial and operating results.  K=
err-McGee Announces 2002 Capital Budget  Kerr-McGee to allocate $310 millio=
n of its 2002 exploration and production budget for the North Sea.  Novus P=
etroleum Hits in the Gulf of Mexico  The La Playa-1 well in the western Gul=
f of Mexico offshore Padre Island has discovered natural gas.  Malaysia, In=
donesia & Vietnam Enter Joint Venture   The national oil companies of Malay=
sia, Indonesia and Vietnam have signed a joint venture agreement to explore=
 for oil offshore Vietnam.    [IMAGE]   [IMAGE]       Upcoming Oil & Gas In=
dustry Events [IMAGE]      [IMAGE]     [IMAGE]  Jan. 22    Alliances and Pa=
rtnering in Oil & Gas   Singapore Feb. 6     Torch Mid-Winter Energy Confer=
ence  New York Feb. 7     Marine Construction 2002  Houston Feb. 10    2002=
 SPE International Petroleum Conference & Exhibition in Mexico  Villahermos=
a Feb. 26    2002 IADC/SPE Drilling Conference and Exhibition   Dallas Feb.=
 26    Offshore Oil and Gas Safety Seminars  Aberdeen Feb. 27    Human Reso=
urces in Oil & Gas  Aberdeen Mar. 10    AAPG Annual Meeting  Houston Mar. 2=
0    LNG North America  Houston Apr. 9     2002 SPE/ICoTA Coiled Tubing Con=
ference and Exhibition  Houston  list your conference  view upcoming events=
   [IMAGE]   [IMAGE]    [IMAGE]    [IMAGE] [IMAGE]  Horizon Offshore  Globa=
l Completion Service  HoverDril  DataLog  Baker Hughes   [IMAGE]   [IMAGE] =
  promote your company      [IMAGE] [IMAGE]  [IMAGE]  The Abandonment of Of=
fshore Oil & Gas Fields  [IMAGE] [IMAGE]  Mapper 30-Day Trial CD  [IMAGE] [=
IMAGE]   Gulf of Mexico Activity Report  [IMAGE]  [IMAGE]   [IMAGE]   more =
products      [IMAGE] [IMAGE]  featured equipment: BOP Closing Units  [IMAG=
E]    650 Ton Maritime Hydraulics Topdrive  [IMAGE]   [IMAGE]   [IMAGE]   m=
ore equipment      [IMAGE] [IMAGE]   featured jobs:  - Project Manager  - S=
ales & Account Manager  - Safety Advisors  more hot jobs >>    featured can=
didates:  - Well Rounded Rig Supervision with Safety First.  - Gulf of Mexi=
co Production Operator  - Mud Logger - Well Site Geologist   search for can=
didates >>   [IMAGE]   [IMAGE]     [IMAGE] [IMAGE]   Drillships:  To 5000':=
   50.0% (7/14) +5000':   96.0% (24/25)  Semisubs:  2nd Gen:   67.1% (49/73=
) 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:  $18.48/BBL  (-2.79%) Brent Crude Oil: =
 $19.73/BBL  (-0.20%) Natural Gas:  $2.29/MMBtu  (1.33%) Unleaded Gasoline:=
  $0.53/gal  (-3.64%) prices from:  1/15/2002 change since:  1/14/2002  [IM=
AGE]   [IMAGE]    [IMAGE] =09[IMAGE]=09=09
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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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