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	Monday
December 17, 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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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 approximately $88.3 million.

Transocean Sedco Forex Announces Management Changes <http://www.rigzone.com/news/article.asp?a_id=2214>
Transocean Sedco Forex Inc. announced that W. Dennis Heagney, Executive Vice President and Chief Operating Officer, will retire from the Co! mpany in June 2002.

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Exploration	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Domestic Rig Count Down <http://www.rigzone.com/news/article.! asp?a_id=2218>
The number of rigs actively exploring for oil and natural gas in the United States this week was down 21 to 907. 

Ecopetrol Reviews Exploration Contracts for 2002  <http://www.rigzone.com/news/article.asp?a_id=2213>
Ecopetrol is expected to sign 20 new oil exploration contracts with foreign companies in 2002.

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Production	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Serrano Subsea System Added to Auger  <http://www.rigzone.com/news/article.asp?a_id=2217>
Shell has added the Serrano subsea production system to its Auger tension leg platform.

Angola Will Make Production Cuts <http://www.rigzone.com/news/article.asp?a_id=2216>
Angola has agreed to cut production by 22,500 b/d from January 1 in support of OPEC's moves to stabilize the oil markets.

Denmark to Increase Production by 18% <http://www.rigzone.com/news/article.asp?a_id=2215>
The Danish Energy Agency has increased its forecast for planned oil output in the Danish sector of the North Sea by 18 percent over the next four years.

Mexico Not Feeling Pres! sure from OPEC <http://www.rigzone.com/news/article.asp?a_id=2212>
Mexican Energy Minister Ernesto Martens said Mexico has not received any additional pressure from OPEC to increase its promised oil cut as the cartel tries to shore up sagging prices.

Phillips Turns on the Tap in China in 2002 <http://www.rigzone.com/news/article.asp?a_id=2211>
Phillips will start commercial production at the Penglai 19-3 oilfield in northeast China's Bohai Sea next year.

CNOOC Production Increases in 2002 <http://www.rigzone.com/news/article.asp?a_id=2209>
CNOOC is targeting a production volume of 110 million BOE in 2002 against 95 million BOE planned in 2001.

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Company & Financial News	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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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.

Cairn Inks Indian Gas Agreement <http://www.rigzone.com/news/article.asp?a_id=2210>
Cairn announces that it has signed a Heads of Agreement with Gas Authority of India Limited for the sale of gas by Cairn to GAIL for the Andhra Pradesh market.

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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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Bouygues Signs AIOC Contract <http://www.rigzone.com/n! ews/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.

Devon Energy to Sell Latin American Assets <http://www.rigzone.com/news/article.asp?a_id=2206>
Devon Energy is planning to sell several of its Latin American assets, located in Argentina and Brazil.

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.

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.

ONGC Makes Discovery Offshore Western India <http://www.rigzone.com/news/article.asp?a_id=2179>
ONGC has discovered oil and gas at an offshore field near Bombay. 

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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	
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Hydrogen Sulfide in Production Operations, 2nd Ed. <http://www.rigzone.com/store/product.asp?p_id=403>	
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  <http://www.rigzone.com/images/spacer.gif>	featured equipment:	
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: 	
-	Senior Sales and Marketing Service Specialist  <http://www.rigzone.com/jobs/resume.asp?r_id=7383>	
-	Drilling Consultant- Offshore-Deepwater <http://www.rigzone.com/jobs/resume.asp?r_id=7462>	
-	Facility Manager/Superintendent <http://www.rigzone.com/jobs/resume.asp?r_id=7957>	
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: 	$19.23/BBL 
(4.62%)	
Saudi Arabian Light: 	$16.96/BBL 
(1.50%)	
North Sea Brent: 	$18.59/BBL 
(4.20%)	
Natural Gas, Henry Hub: 	$2.38/MMBtu 
(-3.45%)	
prices from: 	12/14/2001	
change since: 	12/12/2001	
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