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	Tuesday
June 25, 2002	 <http://www.wellhub.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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TotalFinaElf Requests Grace Period on New Tax <http://www.rigzone.com/news/article.asp?a_id=3663>
TotalFinaElf has sent a letter to the U.K. government requesting a "grace period" for the new oil tax.

Norway Slows Output During Last Week of June <http://www.rigzone.com/news/article.asp?a_id=3661>
Statoil and Norsk Hydro have delayed turning off the taps until the last possible moment to comply with OPEC production cuts.

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Corporate Services Releases RTMS v7.0 

RTMS v7.0 was developed specifically to meet the needs of oilfield service companies. It allow users to track the utilization of equipment on a project and to customize the software to fit their needs. For more information click here <http://www.corpservice.com>.

	

Exploration	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Mosaic Discovery in Surat Basin Could Yield 2 Million Barrels <http://www.rigzone.com/news/article.asp?a_id=3664>
Mosaic Oil NL has made a discovery at Downlands No 3 well in the Surat Basin, southern Queensland that coul! d contain approximately 2 million barrels of oil.

Sterling Energy Wins Block Offshore Philippines <http://www.rigzone.com/news/article.asp?a_id=3660>
Sterling Energy has been awarded an exploration license for the Reed Bank area offshore northwest Palawan.

Syria To Offer 11 Blocks in 2002 Licensing Round <http://www.rigzone.com/news/article.asp?a_id=3658>
There will be 11 blocks on offer in Syria's 2002 licensing round covering 63,000 square kilometers over several different petroleum basins.

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Production	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Magnum Hunter Increases Reserves in Gulf of Mexico <http://www.rigzone.com/news/article.asp?a_id=3657>
Magnum Hunter has participated in three new discoveries and commenced production from six additional leases in the Gulf of Mexico. 

Qatar Petroleum and ExxonMobil Ink LNG Agreement <http://www.rigzone.com/news/ar! ticle.asp?a_id=3662>
Qatar Petroleum and ExxonMobil Corporation have signed a Heads of Agreement for the supply of Liquefied Natural Gas from Qatar to the United Kingdom.

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Company & Financial News	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Ocean Rig Takes Delivery of Eirik Raude <http://www.rigzone.com/news/article.asp?a_id=3656>
Ocean Rig has taken delivery of the Eirik Raude from the Irving shipyard in Halifax and the rig now will enter a new phase of commissioning and testing.

Schlumberger Launches New Stimulation Vessel <http://www.rigzone.com/news/article.asp?a_id=3665>
AfricaSchlumberger Oilfield Services has launched an advanced stimulation vessel for deepwater service.

Veritas and PGS Amend Merger Agreement <http://www.rigzone.com/news/article.asp?a_id=3659>
Veritas and Petroleum Geo-Services have signed an amendment to the agreement reached on November 26, 2001 to combine the two companies.

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Download a Free Trial of the Drillers ToolKit 

Maurer Technology is offering a free trial download of their new Drillers ToolKit ? software program for the Pocket PC. Version 3 has been upgraded with over 100 drilling and completion engineering calculations. To download, click here <http://www.drillerstoolkit.com> and then follow the directions. 



Last 7 Days Top Stories	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Conoco and Aker Kvaerner Form New Deepwater Technology Company <http://! www.rigzone.com/news/article.asp?a_id=3614>
Conoco and Aker Kvaerner have established a new company, DeepWater Composites AS, that will manufacture and sell composite products for use in the deepwater exploration and field development.

Jurong Shipyard Wins Petrobras Rig Contract <http://www.rigzone.com/news/article.asp?a_id=3595>
Petrobras has awarded Jurong shipyard the contract to refurbish an oil tanker into a $500 million giant offshore rig to be called P-50.

Devon Hits in the Gulf of Mexico <http://www.rigzone.com/news/article.asp?a_id=3593>
Devon has successfully drilled four wells in the West Cameron area the aid of four-component seismic.

Unocal Reduces Staff in Gulf Coast Region <http://www.rigzone.com/news/article.asp?a_id=3633>
Unocal will cut approximately 7 percent of its staff in its Sugar Land office and field locati! ons.

Pemex to Open Data Room for Burgos Basin Tender <http://www.rigzone.com/news/article.asp?a_id=3632>
Pemex is planning to open a data room in November for the six to eight contracts in the Burgos Basin that are up for grabs. 

Brazil Sells 21 Exploration Blocks in 4th Licensing Round <http://www.rigzone.com/news/article.asp?a_id=3631>
The fourth annual auction of oil concessions has come to a close with only 21 blocks sold out of 54 on offer.

Interest Lacking at Brazil E&P Auction <http://www.rigzone.com/news/article.asp?a_id=3629>
Brazil's fourth annual E & P auction got off to a sluggish start on Wednesday compared to the previous year, with only six blocks sold out of the first 17 on offer.

Gazprom and Rosneft to Jointly Develop Caspian Field <http://www.rigzone.com/news/article.asp?a_id=3643>
Gazprom and Rosneft have entered into a production sharing agreement for Kazakhstan's Kurmangazy Caspian offshore oil and gas field.

Anadarko Boosts Production with Discoveries in Texas & Louisiana <http://www.rigzone.com/news/article.asp?a_id=3591>
Anadarko's 2002 drilling program in the U.S. and Canada will put the company on track to achieve a 5 percent increase in production for 2003.

Santos Makes Indonesian Gas Discovery <http://www.rigzone.com/news/article.asp?a_id=3636>
Santos announces a new gas discovery resulting from the Maleo-1 wildcat exploration well located offshore Madura Island, East Java.

Central Gulf of Mexico Sale 182 Nets $355,792,253 in High Bids <http://www.rigzone.com/news/article.asp?a_id=3617>
The MMS announced the completion of the two-phase bid evaluation process for Lease Sale 182 which was held on March 20, 2002.

Cal Dive Completes Acquisition of GOM Shelf Acreage <http://www.rigzone.com/news/article.asp?a_id=3604>
Energy Resource Technology, Inc. has acquired a package of offshore properties from Williams E&P for a cash purchase price of $5.5 million.

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Featured Employee 

Claude Lebeuf is an excellent drilling consultant with over 20 years of experience. Mr. Lebeuf has experience both on and offshore and has most recently been working offshore India. To view a complete copy of his resume click here <http://www.rigzone.com/jobs/resume.asp?r_id=13711> or contact him at 780-388-3818 to arrange for an interview. 

	

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Jul. 3 	European Gas Conference <http://www.rigzone.com/events/event_detail.aspx?e_id=! 322>	Amsterdam	
Jul. 8 	Oil, Gas & Power: Near East Perspectives <http://www.rigzone.com/events/event_detail.aspx?e_id=347>	Geneva	
Aug. 5 	The 7th Oil & Gas Conference <http://www.rigzone.com/events/event_detail.aspx?e_id=368>	Denver	
Aug. 20 	Mega Petro Event 2002 <http://www.rigzone.com/events/event_detail.aspx?e_id=255>	Jakarta	
Aug. 27 	ONS 2002 Conference and Exhibition <http://www.rigzone.com/events/event_detail.aspx?e_id=80>	Stavanger	
Sep. 9 	2002 IADC/SPE Asia Pacific Drilling Technology <http://www.rigzone.com/events/event_detail.aspx?e_id=45>	Jakarta	
Sep. 25 	LNG 2002 - Developing the European Market <http://www.rigzone.com/events/event_detail.aspx?e_id=398>	Madrid	
Sep. 29 	2002 SPE Annual Technical Conference and Exhibition <http://! www.rigzone.com/events/event_detail.aspx?e_id=32>	San Antonio	
Oct. 6 	Society of Exploration Geophysicists Annual Meeting <http://www.rigzone.com/events/event_detail.aspx?e_id=160>	Salt Lake City	
Oct. 15 	Permian Basin International Oil Show <http://www.rigzone.com/events/event_detail.aspx?e_id=30>	Odessa	
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  <http://www.rigzone.com/images/spacer.gif>	featured equipment:	
Newly Reclassed Independent Leg Jack-up <http://www.rigzone.com/market/surplus_listing.asp?eq_id=357>	
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New 350 Ton Elevator Links <http://www.rigzone.com/market/surplus_listing.asp?eq_id=490>	
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  <http://www.rigzone.com/images/spacer.gif>	featured jobs: 	
-	Lead Mechanical Engineer <http://www.rigzone.com/jobs/job_posting.asp?p_id=1352>
-	Commissioning Engineer <http://www.rigzone.com/jobs/job_posting.asp?p_id=1353>	
-	Structural Design Engineer <http://www.rigzone.com/jobs/job_posting.asp?p_id=1349>	
more hot jobs >> <http://www.rigzone.com/jobs/hot_jobs.asp>	
featured candidates: 	
-	Consultant Drilling Supervisor <http://www.rigzone.com/jobs/resume.asp?r_id=13991>	
-	International Offshore Driller <http://www.rigzone.com/jobs/resume.asp?r_id=13980>	
-	Senior Risk Control Engineer <http://www.rigzone.com/! jobs/resume.asp?r_id=13973>	
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: 	57.5%	(42/73)	
3rd Gen: 	82.0%	(41/50)	
! 
4th Gen: 	92.1%	(35/38)	
5th Gen: 	100.0%	(7/7)	
Jackups:	
To 200': 	56.1%	(37/66)	
200' MC: 	66.7%	(16/24)	
200' MS: 	23.8%	(5/21)	
300' IC: 	88.5%	(85/96)	
+300' IC: 	94.6%	(53/56)	
Severe Env.: 	90.5%	(19/21)	
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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>	Light Crude Oil: 	$26.60/BBL 
(3.10%)	
Brent Crude Oil: 	$25.29/BBL 
(2.18%)	
Natural Gas: 	$3.48/MMBtu 
(5.45%)	
Unleaded Gasoline: 	$0.78/gal 
(2.63%)	
prices from: 	6/24/2002	
change since: 	6/21/2002	
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